FSC / Press Release
Drilling Underway on Serbian Boron Project
Victoria , British Columbia CANADA, July 19, 2011 /FSC/ - Erin Ventures Inc. (EV - TSX Venture), announces that a diamond drilling program at its wholly-owned Piskanja borate property in Serbia, is currently underway.
This phase of drilling exploration will consist of approximately 15 holes of HQ and larger diameter vertical core drilling, totaling approximately 7000 metres.
Two experienced drill contractors from the region have been contracted to do the drilling. One drill rig is currently onsite, with a second rig anticipated to begin in August. This is being done in order to expedite the exploration process. It is anticipated that the drilling in this phase will be completed by the end of the year.
The goals of this exploration phase are to attempt to: i) satisfy the Serbian government criteria required for the issuance of a mining license, and; ii) establish a NI43-101 compliant resource.
This drilling program is: verifying historic drill results, including reverse circulation drilling conducted by Erin in 1997; establishing correlation of borate zones; and conducting closer spaced drilling of the wide-spaced historic drilling and drilling by Rio Tinto. Engineering, geohydrology, petrology and environmental and social impact studies are also underway in conjunction with this drilling. This phase will form the basis for requirements for additional phases of drilling and related studies in the future.
About Piskanja
The historical data (prepared by, and to, the standards of the Serbian government) states that the Piskanja property has a historical estimate of approximately 7.5 million tonnes, averaging 36 - 39 per cent B2O3 (boron). The boron at Piskanja is primarily colemanite and ulexite. The Piskanja deposit has the potential of hosting additional significant borate tonnage beyond the historical estimate, based on initial review of the historical drill information and assay data showing other zones of possible borate mineralization. A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource. Erin is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
Piskanja is located in a historical mining region that has good infrastructure for mining including roads, rail, electric power, experienced miners, support services, etc., 250 km south of Belgrade, Serbia by good paved roads.
About boron
* Boron is a critically important industrial mineral. World production of boron minerals reached an estimated 4.35 million metric tons in 2008.
* Consumption of borates used in high-technical applications is expected to increase by 10% in North America and 13% in Europe by 2012. China is the largest consumer of boron, where consumption has risen by 15% per year from 2000 to 2010.
* Borate minerals and refined borate products are used extensively worldwide in the manufacture of vitreous products such as fiberglass insulation, textile fiberglass, borosilicate glass (e.g. LCD screens), ceramic glazes and porcelain enamels. These applications account for approximately 60% of borate consumption, with detergents, fire retardants, metallurgy, agriculture, insecticides, wood preservatives and specialty products accounting for the remainder.
Source: US Geological Survey, Report on Boron - 2008.
* Market prices reflect both the relative scarcity of borates and strengthening demand, with current prices for new South American contracts reaching highs of: US$656/t for colemanite (40 percent B2O3); US$640/t for ulexite (40 percent B2O3); US$1170/t for boric acid.
Source: Industrial Minerals Online. June 2011
On behalf of the Board of Directors,
Blake Fallis, General Manager
The technical information in this release was prepared and approved by Dennis J. LaPoint, a Registered Member of SME, a director of the Corporation, who is a Qualified Person under National Instrument 43-101.
For further information, please contact: Erin's Public Quotations:
Erin Ventures Inc. Canada
Blake Fallis, General Manager TSX Venture: EV
Phone: 1-250- 384-1999 or 1-888-289-3746 USA
www.erinventures.com SEC 12G3-2(B) #82-4432
OTCBB: ERVFF
Europe
Berlin Stock Exchange: EKV
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
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. 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, 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.
To view this release as a web page, please click on the following link:
https://www.usetdas.com/pr/erinventures07192011.htm
Source: Erin Ventures Inc. (TSX-V: EV) https://www.erinventures.com
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