Erin Ventures Commences Preliminary Economic Assessment On Its Piskanja Boron PropertyMarch 19, 2014
Erin Ventures Inc. [TSX-V: EV] announces that it has retained SRK Consulting (UK) Limited ("SRK) to prepare a Preliminary Economic Assessment (“PEA”) on Erin's 100% owned Piskanja boron project in Serbia. Piskanja is a high-grade boron deposit with a NI 43-101 compliant mineral resource of 5.6 million indicated tonnes (with a mean grade of 30.8% B2O3), in addition to 6.2 million inferred tonnes (with a mean grade of 28.8% B2O3).
The PEA will establish, within limits, the potential mining and processing parameters at Piskanja, along with the estimated associated capital expenditures, operating costs and revenues. The PEA will be based upon Erin's recently released Mineral Resource Estimate and Technical Report, which was authored by SRK Exploration Services. Erin expects the PEA to be completed during the second quarter of 2014.
Specifically, SRK will complete the following tasks:
Review the geotechnical characteristics of the hangingwall, footwall and ore horizons themselves, and develop geotechnical design parameters for underground development to a PEA level.Develop a preliminary underground mine design and schedule.Review the metallurgical test-work completed to date and derive mineral processing assumptions based on this.Determine likely tailings/waste management requirements.Review likely water management requirements.Determine the potential environmental and social impacts of any operations and make recommendations with regards to environmental and social data collection as required.Estimate likely infrastructure requirements.Estimate potential capital and operating costs for the Project.Develop a technical economic model reflecting all the above.Comment on the justification for progressing the Project to higher confidence levels (pre-feasibility/bankable feasibility), and scope the work required to be done as part of this.Prepare a PEA based on all of the above and according to the standards set by the OSC.The PEA will be authored by a team of 11 of SRK’s specialists in the fields of borate geology, resource estimation, mining, mineral processing, mining infrastructure, geotechnics, financial modelling, water management, and environmental and social impact assessment.
SRK is an associate company of the international group holding company SRK Consulting (Global) Limited. The SRK Group comprises over 1,600 staff, offering expertise in a wide range of resource engineering disciplines with 50 offices located on six continents. The SRK Group has a demonstrated track record in undertaking independent assessments of resources and reserves, project evaluations and audits, Mineral Experts’ Reports, Competent Persons’ Reports, Mineral Resource and Ore Reserve Compliance Audits, Independent Valuation Reports and independent feasibility evaluations to bankable standards on behalf of exploration and mining companies and financial institutions worldwide. The SRK Group has also worked with a large number of major international mining companies and their projects, providing mining industry consultancy service inputs.
On behalf of the Board of Directors,
Blake Fallis, CFO
About Erin VenturesErin 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.
Piskanja is a high-grade boron deposit with a NI 43-101 compliant mineral resource of 5.6 million indicated tonnes (30.8% B2O3), in addition to 6.2 million inferred tonnes (28.8% B2O3).
For further information, please contact:
Erin Ventures Inc. Canada
Blake Fallis, General Manager TSX Venture: EV
Phone: 1-250- 384-1999 or 1-888-289-3746 USA
www.erinventures.com
645 Fort Street, Suite 203
Victoria, BC V8W 1G2
Canada
Erin's Public Quotations:
Canada
TSX Venture: EV
USA
SEC 12G3-2(B) #82-4432
OTCBB: ERVFF
Europe
Berlin Stock Exchange: EKV
The technical information in this release was prepared and approved by James E Wallis, M.Sc. (Eng), P. Eng., a consultant to 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. |
