RE: Very interesting news.....Erin Set to Define Drill Targets on Belize Gold Property
Acquired Historical Drill Data Includes Results of 72 g/t Au
Victoria , British Columbia CANADA, March 18, 2008 /FSC/ - ERIN VENTURES INC. (EV - TSX Venture, ERVFF - OTCBB, EKV - BSE), is pleased to announce that it has recently acquired significant historical data on its Ceibo Chico Gold Property in Belize, from exploration completed by BHP and Castle Exploration, Inc. in the 1990's. It is expected that the compilation of this historical drill, trench, channel and soil data, plus the geologic mapping of structures and alteration may identify drill targets for Erin by mid-year.
Erin's management has concluded that it has sufficient quality data to potentially develop drill targets without much of its planned surface exploration program, thus saving both time and money. However, some new field examination to relocate, confirm and interpret results will be required.
Erin has recently retained the services of the former project geologist, who lead the exploration program for both BHP and Castle Exploration, to assist with compilation of data and a site review. With the assistance of this geologist, most of the paper copies of reports and maps have been recovered and organized. Currently, this information is being converted to digital data suitable for use in GIS software and evaluation.
BHP/Castle Data
BHP conducted exploration, primarily for base metals, in the Maya Mountains of Belize in the 1990's. They initiated exploration for gold on a large regional grid, based on results from soil samples. In 1997 when they farmed out their Central American projects, Castle Exploration acquired BHP's exploration rights in Belize. They completed significant exploration work including soil sampling, channel sampling of roads, trenching, and 809 meters of diamond core drilling in 9 holes. Results were positive, but funds were not obtained to continue exploration. A total of approximately US $3.5 million was spent by both companies.
The drill data show wide intervals of anomalous gold with high grade zones, typically in quartz veins. The highest value reported is 72 grams/ton in a quartz vein. These independent assays were performed by Chemex Labs in Mississauga, Ontario during the 1999 exploration program. A more complete summary of results will be reported after the data are digitally compiled and drill holes are located. Castle made its best efforts to preserve the core, but it has evidently been destroyed or lost when moved.
Castle's map of soil data shows a large, well-defined V-shaped anomaly of anomalous gold. An east-west limb is anomalous over a length of 2,300 metres and width of up to 700 metres. The southern, northwest trending limb is anomalous over a length of 1,500 metres and width of up to 350 metres. A higher grade core zone is over 1,100 metres in length. Castle and BHP's exploration program was well managed and they used their best efforts to preserve data for later exploration, as they recognized the gold potential.
On behalf of the Board of Directors,
Blake Fallis, General Manager