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Erin Venture files extension on its license for its Piskanja boran property in Serbia

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Erin's high-grade Piskanja boron deposit, held by Balkan Gold, its wholly-owned Serbian subsidiary, has a Mineral Resource Estimate with an indicated mineral resource of 7.8 million tonnes averaging 31.0 % boron trioxide (B2O3), and an inferred resource of 3.4 million tonnes averaging 28.6 % boron trioxide (B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards).

Additional Information:

Company: Erin Ventures Inc.
Website: http://www.ErinVentures.com
Stock Symbol: TSXV: EV
Date Published: Aug 31, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for InvestmentPitch Media

Erin Ventures Inc., a Canadian based company with boron assets in Serbia, has filed its Annual Work Report and License Extension Application for its Piskanja Boron Project.

As required by Serbian mining laws, Erin has notified the Mining Ministry of its intention to proceed with the “Certification of Reserves” process, which consists primarily of the submission of a Serbian compliant Mineral Resource Calculation and Technical Economic Assessment.

Erin has up to 3 years from the date of the license extension approval to complete the necessary studies and gain approval for the “Certification of Reserves” as well as the “Approval of the Exploitation Field”, as the first two of three steps in the mine licensing process.

Erin's high-grade Piskanja boron deposit, held by Balkan Gold, its wholly-owned Serbian subsidiary, has a Mineral Resource Estimate with an indicated mineral resource of 7.8 million tonnes averaging 31.0 % boron trioxide (B2O3), and an inferred resource of 3.4 million tonnes averaging 28.6 % boron trioxide (B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards).

The Mineral Resource Estimate, updated in February 2019 by SRK Consulting, is available on Sedar.

The company’s Serbian properties, located in a historical mining region, have excellent infrastructure including paved roads, rail, electric power, experienced miners, good access to seaport and river transportation and is 250 km south of the capital city of Belgrade.

Serbia, with a population of approximately 7 million, is situated at the crossroads of central and Southeast Europe,

The country is committed to stimulating foreign investments within the mining industry with a goal of becoming the leader in the mining industry of southeastern Europe.

For those unfamiliar with boron, it is difficult to comprehend its variety of uses.

For example, a few examples include construction, manufacturing, medicine, science, microelectronics, pharmaceuticals, telecommunications, space travel, communication satellites, specialty metals, and battery technology.

As there are very few substitutes for borates especially in high-end applications and agriculture, these markets are expected to grow as global population grows and becomes more affluent.

Furthermore, with commercial deposits of boron extremely rare – only 2 regions contain 80% of the world supply – this lack of competition in supply helps keep prices very stable.

The company is currently raising gross proceeds of up to $480,000 from a non-brokered private placement of up to 12 million units priced at $0.04 per unit.

Each unit consists of 1 share and 1 warrant, with the warrant exercisable at $0.05 for 24 months.

The shares are trading at $0.05.

For more information please visit the company’s website www.ErinVentures.com or contact Blake Fallis, General Manager, at 250-384-1999 or email info@ErinVentures.com.

I’m Cassandra Bolinski for InvestmentPitch Media