Victoria, British Columbia (FSCwire) - Erin Ventures Inc. [TSXV: EV] has received chemical assay results for the final set of four drill holes from this season’s exploration program on its 100% owned Piskanja boron project in Serbia, with the results continuing to meet management’s expectations.

 

Piskanja is Erin’s wholly-owned high-grade boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31 percent B2O3), and an inferred resource of 3.4 million tonnes (averaging 28.6 percent B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards), as disclosed in Erin’s filed report titled, “Mineral Resource Estimate Update On The Piskanja Borate Project, Serbia, October 2016”. The deposit remains unbounded to the west and south.

 

Highlights of drill holes EV151, EV155, EV156 and EV157

 

Holes 151, 155, 156 and 157 are all located on an existing in-fill drill grid (located in the central part of the Piskanja deposit) on either a 100x100 m, or a 50x50 m spacing.

 

Hole EV151 intersected a total of 37.2 meters of mineralization averaging 25.8% B2O3, from within five known borate layers and one new mineralized interval, with an intersection of 20.4 meters averaging 31.3% B2O3, including 14.0 meters of 35.1% B2O3, and results as high as 47.0% B2O3 over 1.3 meters.

 

Hole EV155 intersected five known borate layers and one new mineralized interval, totaling 31.1 meters of 29.3% B2O3, with an interval of 21.2 meters averaging 27.8% B2O3, including 15.5 meters of 35.5% B2O3 and 13.1 meters of 40.4% B2O3, with results as high as 47.7% B2O3 over 1.2 meters.

 

Hole EV156 intersected 5 known borate layers and one new mineralized interval for a total of 13.8 meters of mineralization averaging 26.7% B2O3, including an intersection of 5.8 meters averaging 31.2% B2O3, and results as high as 45.7% B2O3 over 3.1 meters.

 

Hole EV157 intersected a total of 23.7 meters of mineralization averaging 31.7% B2O3, from within five known borate layers and two new mineralized intervals, including 9.6 meters averaging 37.1% B2O3, and another of 6.7 meters averaging 37.4% B2O3, and results as high as 44.3% B2O3 over 2.3 meters.

 

Assay Results Summary:

 

HOLE	Borate bodies / Mineralized zone		Interval (m)		Thickness (m)	Weighted average grade of B2O3 (%)
			From	To
EV151	OB-4	total	119.3	125.7	6.4	8.0
		upper part max	119.3	120.7	1.4	19.5
		lower part max	124.6	125.7	1.1	20.7
	OB-3	total	140.4	154.4	14.0	35.1
		including	140.4	151.2	10.7	40.6
		max	141.7	146.2	4.5	42.0
	OB-6	total	157.2	160.8	3.6	37.2
		including	158.0	160.8	2.7	41.4
	Combined zone OB-3 to OB-6	total	140.4	160.8	20.4	31.3
	New zone	total	169.5	171.6	2.1	11.1
		including	170.6	171.6	1.0	13.3
	OB-2	total	196.0	196.7	0.7	2.1
	OB-1	total	274.3	281.9	7.6	32.4
		including	276.2	281.0	4.8	35.5
		max	278.3	279.5	1.3	47.0
	Total mineralization in the hole:				37.2	25.8
	Included:				27.2	33.8

 

HOLE	Borate bodies / Mineralized zone		Interval (m)		Thickness (m)	Weighted average grade of B2O3 (%)
			From	To
EV155	OB-4	total	103.9	113.3	9.4	0.2
	OB-3	total 1	122.1	137.6	15.5	35.5
		total 2	122.1	135.2	13.1	40.4
		including	123.9	135.2	11.3	43.1
		upper part max	123.9	127.7	3.8	45.3
		lower part max	131.6	135.2	3.6	43.3
	OB-6	total	142.7	143.3	0.7	36.4
	Combined zone OB-3 to OB-6	total	122.1	143.3	21.2	27.8
	New zone	total	150.1	152.9	2.8	12.4
		including	151.6	152.9	1.3	14.3
	OB-2	total	175.2	176.5	1.3	41.2
	OB-1	total	231.5	237.3	5.8	40.4
		upper part	231.5	234.3	2.8	47.6
		upper part max	233.4	234.3	0.9	54.1
		lower part	234.9	237.3	2.3	42.1
		lower part max	234.9	236.1	1.2	47.7
	Total mineralization in the hole:				31.1	29.3
	Included:				21.5	39.9

 

HOLE	Borate bodies / Mineralized zone		Interval (m)		Thickness (m)	Weighted average grade of B2O3 (%)
			From	To
EV156	OB-4	total	119.3	121.3	2.0	0.2
	OB-3	total 1	130.0	131.2	1.2	36.1
	OB-6	total	146.3	148.4	2.1	10.4
		including	146.3	147.5	1.2	11.8
	OB-2	total	164.9	168.7	3.8	28.3
		including	166.0	168.7	2.6	33.1
	New zone	total	175.6	176.5	0.9	16.4
	OB-1	total	249.8	255.6	5.8	31.2
		upper part	249.8	252.9	3.1	45.7
		lower part	253.4	254.4	1.0	37.4
	Total mineralization in the hole:				13.8	26.7
	Included:				10.1	33.7

 

HOLE	Borate bodies / Mineralized zone		Interval (m)		Thickness (m)	Weighted average grade of B2O3 (%)
			From	To
EV157	OB-4	total	106.8	112.5	5.7	0.3
	OB-3	total 1	122.8	132.4	9.6	37.1
		upper part	122.8	125.2	2.4	43.4
		lower part	127.5	131.4	3.9	40.4
	OB-6	layer 1	134.1	135.3	1.2	7.0
		layer 2	140.9	141.7	0.9	4.5
	New zone	total	148.4	151.1	2.7	11.7
	New zone	total	175.5	178.3	2.8	36.8
		including	175.9	178.3	2.4	41.1
	OB-2	total	175.5	178.3	2.8	36.8
		including	175.9	178.3	2.4	41.1
	OB-1	total	235.0	241.7	6.7	37.4
		including	235.0	239.4	4.4	42.8
		max	237.1	239.4	2.3	44.3
	Total mineralization in the hole:				23.7	31.7
	Included:				15.8	36.8

 

Chemical analyses were conducted as follows:

 

Results are stated as a percentage concentration

 

• All measurements are metric

 

• Chemical analysis is conducted by SGS Turkey - an accredited laboratory located in Ankara, Turkey, with sample preparation conducted by SGS's facility in Bor, Serbia

 

• Control samples are sent to an umpire lab - Bureau Veritas Minerals Lab in Perth, Australia

 

• Analytical Methodology:

 

1.  ICP90Q (by Sodium peroxide fusion) - for determination of high grade Boron (presented in B%)

 

2.  ICP90A (by Sodium peroxide fusion) for multi-element analysis and low-grade Boron (Al, As, B, Be, Ca, Cd, Co, Cr, Cu, Fe, K, La, Li, Mg, Mn, Mo, Ni, P, Pb, Sb, Sc, Sn, Ti, V, W, Y, Zn)

 

3.  ICP95A -Whole rock analysis (by Lithium metaborate Fusion / ICP-AES) for determinations: Al2O3, Ba, CaO, Cr2O3, Fe2O3, K2O, MgO, MnO, Na2O, P2O5, SiO2, Sr, TiO2, Zr

 

4.  CSA06V - total Sulphur, Leco method

 

5.  PHY01K – for determination of L.O.I (Loss on Ignition) at approx. 950°C by Gravimetric Analysis

 

• QA/QC protocols established in accordance with SRK Consulting have been used during this collection, storage and testing

 

• Location:  Piskanja Project, Baljevac, Serbia

 

• Sample type:  HQ-size diamond core drilling, with drilling conducted by Geomag d.o.o. of Belgrade, Serbia

 

• Azimuth/dip:  vertical hole, 90 degree dip

 

• Sample interval is 0.5 metres

 

This work program was designed to ensure that the project continues to comply with both the Canadian Institute of Mining "Best Practice Guidelines", and the Republic of Serbia Ministry of Mining and Energy mine development and licensing regulations, as well as complying with recommendations made by Erin’s geological consulting firm - SRK Exploration Services Ltd from Cardiff, Wales.

 

On behalf of the Board of Directors,

Blake Fallis, General Manager

 

About Erin Ventures Inc.

 

Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia and gold assets in North America. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.

 

For further information, please contact:	Erin’s Public Quotations
Erin Ventures Inc.	Canada	USA
Blake Fallis, General Manager	TSX Venture: EV	SEC12G3-2(B)#82-4432
Phone: 1-250-384-1999 or 1-888-289-3746		OTCBB:ERVFF
info@erinventures.com	Europe
www.erinventures.com	Berlin: EKV

 

The technical information in this release was prepared and approved by James E Wallis, M.Sc. (Eng), P. Eng., a director of the company, who is a Qualified Person under National Instrument 43-101.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Forward Looking Statements:

 

This press release contains or refers to forward-looking information under Canadian securities legislation, including statements regarding the timing of future mineral resource estimates and the PEA, estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and future production and is based on current expectations that involve a number of business risks and uncertainties. The words "believe," "expect," “feel,” "plan," "anticipate," “project,” “could,” “should” and other similar expressions generally identify forward-looking statements.  Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, as well as those factors discussed in the section entitled "Risks of the Business" in the Company's most recent regulatory filings which are posted on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities law. These and other factors made in public disclosures and filings by the Company should be considered carefully.

 

Mineral resources are not mineral reserves and do not have demonstrated economic viability. "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.

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Source: Erin Ventures Inc. (TSX Venture:EV, OTC Bulletin Board:ERVFF)

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