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Sector: Mining - Metals and Minerals   :

 

News Release - September 8, 2010 5:36 PM ET 

 

 

Erin Ventures Inc. Restores 100% Ownership in World Class Boron Deposit, Near Term Cash Flow Potential Scenarios on Two Gold Projects
   

NEW YORK, NY, September 8, 2010 /Sector Newswire/ - Erin Ventures Inc. (TSX VENTURE: EV) (US Listing: ERVFF) is the subject of a Mining MarketWatch Journal review offering insight and opportunity afforded investors as EV.V has regained ownership of the Piskanja Boron deposit in Serbia, the 3rd largest boron deposit in the world and is in talks with potential strategic partners of size that will be able to facilitate an end market for the Boron and advance the project to fruition. EV.V also has several gold projects of significance, two with near term cash flow potential.

 

The full Journal review may be found at http://miningmarketwatch.net/ev.htm online.

  • World class 100% owned Piskanja Boron deposit, Serbia, with historic (non NI 43-101) tonnage of ~7.5 million tonnes grading 39% B203 (Boron) -- Mining MarketWatch Journal places this deposit as the 3rd largest Boron deposit in the world. EV.V to bring numbers compliant and build tonnage. EV.V in active discussions with potential strategic partners.

  • Controlling interest in Santa Rosa open pit gold mine, Panama, a past producer with 60,000 oz/annum capacity facility shutdown a decade ago with then (now consider historical non 43-101) ~900,000oz proven and ~1.5M oz resource of gold at a grade averaging 1.3g/t using gold price of $350.

  • Near term cash flow potential from 100% owned Volujski Kljuc alluvial gold project, Serbia. Systematically drilled revealing (historic non 43-101 compliant) 29 million cubic metres of auriferous gravel grading 0.29 g Au/cubic metre from surface to bedrock. Low cost to bring operational.

Recent developments create exceptional risk-reward scenario at major world class Boron deposit

 

Erin Ventures Inc. (TSX-V: EV) (US Listing: ERVFF) 100% owned Piskanja Boron deposit in Serbia is the 3rd largest boron deposit in the world and it was only very recently (August 31, 2010) returned to them as the rightful owners by the Serbian government after a 5 year hiatus. BEFORE the hiatus EV.V had a market cap of ~CDN$88M and then they only owned half the project, NOW EV.V has a market cap under CDN$15M and has 100% ownership plus they have potential near term cash flow scenarios on several fronts; needless to say with only ~123M shares outstanding and trading under CDN$0.15, shares of EV.V appear poised for significant upside revaluation.
 
The Piskanja boron deposit has a historical (non NI 43-101 compliant) estimate of ~7.5M tonnes grading 39% B203 (boron) and it appears to Mining MarketWatch Journal from its own (non 43-101) interpretation that the probable numbers are 10 - 12M tonnes and possible 20M+. Now that Erin Ventures has regained the property, the historic tonnage is expected to be surpassed and brought compliant to NI 43-101 standards; the data from past drilling and exploration conducted by Erin Ventures and Rio Tinto was conducted to a high standard. The high grade boron deposit is currently defined in three near surface lenses (beds of boron rich mineralization - similar to how potash is found) ranging in thicknesses from 1 to 9 metres and has the advantage of (so far) being arsenic free. Erin's license covers ~3 square kilometers containing an ancient lakebed whereby the boron was deposited through volcanic activity and it is believed there should be boron throughout -- so far EV.V has explored only ~4% of that basin yet has already established the 3rd largest deposit in the world. EV.V is in active discussions with potential strategic partners of size that will be able to facilitate an end market for the boron and advance the project to fruition.

 

Note: Erin Ventures is well capitalized and will be the recipient of US$700,000 upon the successful completion of the recent sale of its Belize gold project, EV.V will retain a 3% NSR.

 

As one of the most important industrial minerals, Boron is considered the most lucrative in a field with few supply sources and large demand. The inherent value of Erin Ventures' boron project is immense and not yet reflected in the current market cap of EV.V, this will change as recent developments are digested and appreciated by the market place -- EV.V has 100% ownership of the Boron project and a license to proceed. Source: Market Equities Research Group

  

The full Journal review may be found at http://miningmarketwatch.net/ev.htm online.

 

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URLs.

 

SOURCE: Sector Newswire

editorial@SectorNewswire.com

 

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