BULK SAMPLING UPDATE AT CEIBO CHICO PROJECT, BELIZ
BULK SAMPLING UPDATE AT CEIBO CHICO PROJECT, BELIZE
Oct 27, 2008:
Erin Ventures Inc. (TSX-Venture: EV) reports that in order to determine the potential to increase and extend its alluvial gold production on the Ceibo Chico property in Belize, Erin has extended its bulk sampling program to include sections of the Chiquibul River drainage system, where early prospecting has shown encouraging results. The Chiquibul River drainage system runs roughly parallel to the Ceibo Chico River drainage system, where Erin currently is successfully recovering alluvial gold, and falls within the area of Erin’s prospecting license (see attached map). A 2 km wide zone separating the two drainage systems appears to be the host rock for the alluvial gold found in both drainage systems, and is the primary focus of Erin’s ongoing hard rock exploration program.
Bulk Testing on the Chiquibul River
In order to gain access to the Chiquibul River drainage system, a 2 km trail was cut late in the 2007 season. This trail allows access to the area of several potentially gold bearing gravel benches along the Chiquibul River. Bulk testing was conducted using an excavator and test trommel.
An initial 8 test pits have been excavated and sampled over a lateral distance of approximately 400 metres on one of the furthest downstream benches on the Chiquibul River. In all but two cases, the gravel exceeded the 4 metre digging depth of the excavator. Results from the test pits, which were located anywhere from 10 meters back from the banks of the Chiquibul River to immediately adjacent to the river, ranged from trace amounts of fine gold to low-grade values, similar in characteristics to the gold being recovered on the Ceibo Chico fan area.
Conclusions and Recommendations
While the results from the sampling done to date on the lower bench area of the Chiquibul River drainage system are so far inconclusive, further testing of this site, and the several upstream benches that are closer to the assumed hard rock source, is considered to be warranted. Past bulk sampling experience on the Ceibo Chico River drainage system clearly showed that the quantity and coarseness of alluvial gold increases significantly as testing proceeded upstream, closer to the assumed source. This testing can be accomplished by extending the Chiquibul access trail some 2.5 kilometers to the south (upstream) to provide machine access to additional low benches.
This testing has been recommended in order to determine the viability of commissioning a second production dredge. It is anticipated that the next phase of this program will be completed by the end of this year.
On behalf of the Board of Directors,
Blake Fallis, General Manager
The technical information in this release was prepared by James E Wallis, M.Sc. (Eng), P. Eng. a consultant to the Corporation, who is a Qualified Person under National Instrument 43-101.
About the Ceibo Chico Gold Prospect
- The property consists of 3 contiguous Exclusive Prospecting Licenses covering approximately 34 square kilometres (13 square miles), and a 160.25 hectare (396 acre) Mining License, in west/central Belize.
- Erin has an option agreement to acquire up to 90% equity in the Prospect.
- Erin has established production of the placer gold found on the Fan, using the resulting cash flow to help off set exploration costs. The Fan is comprised of alluvial gravels formed where the drainage opens up at the contact with limestones. Erin’s most recent production update was reported on August 19, 2008.
For further information, please contact:
Erin Ventures Inc.
Phone: 1-250- 384-1999 or 1-888-289-3746
www.erinventures.com
Erin’s Public Quotations:
Canada
TSX Venture: EV
USA
SEC 12G3-2(B) #82-4432
OTCBB: ERVFF
Europe
Berlin Stock Exchange: EKV
Forward Looking Statements
This release contains forward looking statements. The words "believe," "expect," “feel,” "plan," "anticipate," “project,” “could,” “should” and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary for the continued operations of the Company, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.
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