RE: ANALYSIS ENCOURAGES FURTHER DRILLING AT CEIBOEntire Article.........
Erin analyzes historical results from Ceibo Chico
2008-09-10 10:29 ET - News Release
Mr. Blake Fallis reports
ANALYSIS OF HISTORICAL DATA ENCOURAGES FURTHER DRILLING AT CEIBO CHICO PROJECT, BELIZE
Erin Ventures Inc. has obtained historical exploration data (conducted by BHP and Castle Exploration) on the Ceibo Chico property in Belize (as reported previously by Erin on March 18, 2008). Erin has field checked, compiled and converted these data to a digital format, for better assessment using current exploration software. Analysis of this data is now complete. Management of Erin considers the results of this analysis to be positive, and further exploration justified in order to define a gold resource. Most promising are results compiled from channel sampling and diamond core drilling.
Historical soil sampling has been confirmed by additional soil sampling by Erin along the access road and ridge-and-spur sampling. A well-defined target of over one kilometre of strike and between 100 to 400 metres in width merits drilling after further mapping is completed.
The historical data generated by BHP and Castle Exploration have been an effective method to further develop the Ceibo Chico project at much lower cost to Erin. The historical exploration was well managed and ended during a period of low gold prices and not due to exploration results.
Channel sampling results
Continuous channel sampling of a road that was prepared for drilling and property access has the results in the "Channel sampling" table.
CHANNEL SAMPLINGChannel ID From (metres) To (metres) Length (metres) COMP5M Au (gm/tonne) Metal factorCTR-8 765 855 90 1.088 97.90CTR-8 30 120 90 0.649 58.40CTR-8 651 710 59 0.376 22.16CTR-8 715 720 5 3.670 18.35CTR-8 1450 1470 20 0.670 13.40CTR-8 385 400 15 0.843 12.65CTR-8 430 440 10 1.030 10.30CTR-8 610 620 10 0.880 8.80CTR-8 1400 1415 15 0.560 8.40CTR-8 1295 1310 15 0.560 8.40 (Channel intervals are composited to five-metre intervals with a cut-off gold value of 0.300 gram per tonne. The metal factor is the composite grade multiplied by the length of the interval.)
The metal factor, grades, continuity and length are all considered encouraging for further exploration. Recent sampling by Erin Ventures has confirmed that the assay values are reproducible within sampling variability.
The mineralized intervals represent apparent lengths. The true length and width of the mineralized zone are not yet known. Erin is scheduling structural and geologic mapping to gain a better understanding of ore controls and orientation.
Diamond drilling results
In 1999, nine diamond core holes totalling 809 metres were drilled by Castle Exploration. The results, especially in hole CDD-01 are promising for further drilling, once a better understanding of structural controls is developed. Significant efforts were made to locate the original core to no avail.
DIAMOND DRILLINGHole ID From (metres) To (metres) Length (metres) COMP5M Au (g/t) Metal factor CD99-001 55.28 68.27 12.99 1.03 13.34 CD99-001 102.00 114.00 12.00 0.77 9.18CD99-008 33.00 39.00 6.00 1.49 8.94CD99-008 2.75 9.00 6.25 1.22 7.61CD99-001 116.64 123.58 6.94 0.90 6.27CD99-007 10.50 22.50 12.00 0.46 5.49CD99-002 107.31 114.00 6.69 0.75 5.02CD99-002 116.50 126.88 10.38 0.39 4.01CD99-004 71.50 76.70 5.20 0.76 3.93CD99-003 110.90 118.87 7.97 0.45 3.60CD99-002 54.93 60.00 5.07 0.56 2.84CD99-003 0.00 6.00 6.00 0.41 2.43 CD99-003 63.00 69.70 6.70 0.36 2.43CD99-001 19.22 24.71 5.49 0.35 1.93CD99-003 101.37 105.90 4.53 0.37 1.66
Hole CD99-001 tested the interval from 30 to 120 metres in the channel CTR8. The longer channel intervals such as 765 to 865 were not well tested due to the limited number of holes, as financing was restricted. Erin relocated all drill holes and certain channel intervals, where flagging still remained. Co-ordinates were obtained with a GPS unit and this information was used to replot the paper copies of channel, soil and drill data. The geologist who drilled the original holes was retained to assist in the compilation and to confirm hole and channel sampling locations.
Preparation for drilling
The selection of drill site placement and orientation of drilling will be finalized once structural mapping and related fieldwork have been completed in the coming months. Based on the strong recommendation of the geologist who supervised the past drilling, and Erin's own experience in Belize, drilling should be initiated early in the year due to weather conditions. This scheduling also provides the time needed to establish camp and road upgrades required for drilling, and to locate a competent and cost-effective drilling group who is willing to mobilize a drill rig and crew to Belize. All drill sites must then be properly located in field in relation to the terrain and then drill pads can be constructed using Erin's existing equipment. Current plans are to prepare for a drill program early next year. Drilling contractors will also be requested for bids to mobilize a drill rig to Belize and complete drilling. The amount of drilling requested will be based on the field assessment of drilling required for a first phase of testing.
We seek Safe Harbor.