2012-11-14 15:05:06 -
Hole #120 Intersects A Total Of 24.9 metres of High Grade Borates
Victoria, British Columbia CANADA, November 14, 2012 /FSC/ - Erin Ventures Inc. (EV - TSX Venture), has received assay results from the next three drill holes from its Piskanja boron project in Serbia.
In order for Erin to conduct the analysis of the drill core from its Piskanja boron project in accordance with NI 43-101 reporting standards, Erin included "standard reference material" (SRM) boron samples in the testing program, as a control. As the result, Erin delayed the assaying of the remainder of its drill core until these standards and samples were created. The insertion of the SRM samples, along with the insertion of blank samples (with no
known grade of boron) is required to comply with international best practices for the monitoring of the accuracy of the analytical data from the Piskanja drill core (as reported previously by Erin on September 11, 2012).
The current assay results (tested with the new controls in place) showed to be consistent with grades and thicknesses reported by Erin on previous drill holes proximal to these new holes.
Holes EVP2012-119 to 121 are in-fill holes designed to help establish a compliant resource estimate, sufficient to qualify for a Serbian mining license. Hole 119 returned a combined total of 10.4 metres of high-grade borates from three zones, including a 7.2 metre zone averaging 42% B2O3. Hole 120 returned a total of 24.9 metres of high grade borates including an intersection of 12.9 metres averaging 37.7% B2O3. Hole 121 intersected a total of 9.7 metres of borates in two zones including an intersection of 4.8 metres, averaging 38.7% B2O3.
Current exploration program
Erin's exploration at Piskanja includes a diamond drill program of HQ and larger diameter vertical core drilling, consisting of in-fill drilling across the known mineralized area at Piskanja, on a 100 metre by 100 metre grid (with a tighter pattern already drilled over a portion of the area). Engineering, hydrogeology, environmental and other studies are also underway, in the anticipation of a mining license application, and the transition into feasibility and mine development phases.
Holes #122 through 133 are complete. Samples from holes 122 - 131 are en route to SGS Canada Inc., Minerals Services in Lakefield Ontario for chemical analysis. Drill cores 129, 132 and 133 are undergoing logging as part of a required geotechnical engineering study, prior to being sent to SGS for chemical analysis.
Thirty-four drill holes (approximately 12,115 metres) have been completed in Erin's current program.
Erin is ensuring that the project is being developed to provide disclosure in compliance with internationally accepted NI 43-101 standards, as well as conforming to the requisite Serbian mining standards. By doing so, Erin's mine development, planning and implementation will conform to the highest standards expected by both the international community, and potential strategic partners.
Chemical analyses are conducted as follows:
* Results are stated as a percentage concentration
* All measurements are metric
* Chemical analysis was conducted by SGS Canada Inc. in Lakefield, Ontario with sample preparation being conducted by SGS's facility in Serbia
* Analytical Methodology: standard chemical analysis using ICP mass spectrometer and X-ray Diffraction (Aqua Regia and KOH Fusion and/or Titration)
* Location: Piskanja Project, Baljevac, Serbia
* Sample type: HQ size diamond core drilling
* Azimuth/dip: vertical hole, 90 degree dip
* Sample interval is 0.5 metres
HOLE ID INTERVAL THICKNESS B2O3 %
EVP2012-119 226.9-234.1 7.2m 42%
EVP2012-119 291.2-292.9 1.7m 34.20%
EVP2012-119 367-369 1.5m 40.90%
EVP2012-120 136.1-137.2 1.1m 50.30%
EVP2012-120 151.5-152.9 1.4m 17%
EVP2012-120 155.3-168.2 12.9m 37.70% Including
EVP2012-120 171.25-173.8 2.5m 42%
EVP2012-120 276.3-283.3 7m 37%
EVP2012-121 267.8-272.6 4.8m 38.70%
EVP2012-121 356.9-362.2 4.9m 36.20% Including 2.2m
On behalf of the Board of Directors,
Blake Fallis, General Manager
The technical information in this release was prepared and approved by Marinko Toljic, PhD. Geol, a consultant to the company, who is a Qualified Person under National Instrument 43-101.
For further information, please contact: Erin's Public Quotations
Erin Ventures Inc. Canada TSX Venture : EV
Blake Fallis, General Manager USA SEC 12G3-2(B) #82-4432
Phone: 1-250- 384-1999 or OTCBB: ERVFF
1-888-289-3746 Europe Berlin: EKV
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 release contains forward looking statements. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.
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Source: Erin Ventures Inc. (EV - TSX-V) www.erinventures.com
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