Piskanja borates drilling lives up to Erin’s expectations
Published: Friday, 27 November 2015
Erin looking to bring Piskanja resource up to measured status as stricter building rules boost boron demand for borates.
TSX-V-listed Erin Ventures Inc. announced in November the
results of seven assay drill holes at its Piskanja borates
project in Serbia, noting that they met
Piskanja currently holds an NI 43-101 mineral resource of
5.6m indicated tonnes, averaging 30.8% boron trioxide
(B2O3) and 6.2m inferred tonnes,
averaging 28.8% B2O3.
An 11-hole diamond drill programme was carried out in
October as part of efforts to raise the confidence level of the
resource to the measured category.
Results released to date from the most recent Piskanja
drilling programme have shown intersections of between 13 and
44 metres, with B2O3 grades between 30%
Erin also recently announced that it had completed a
non-brokered private placement offering for a total of Canadian
dollar (C$) 698,500 ($526,000*), consisting of convertible and
The funds are to be used to finance further development of
Piskanja and for working capital purposes, Erin said, adding
that the debentures carry a fixed interest rate of 12% per
annum, with a maturity date in June 2018.
In September, the company completed a separate drilling
programme at its Jarandol Basin boron site, which borders
Elsewhere in Serbia, mining giant Rio Tinto is pushing ahead
with plans for its Jadar borates and lithium project (see
According to the US Geological Survey’s (USGS)
latest available data, worldwide production of boron minerals
reached 3.72m tonnes last year, up from 3.54m tonnes in 2013.
"In Europe and developing countries, more stringent building
standards with respect to heat conservation were being
enacted," the USGS said, referring to boron mineral demand in
2014. "Consequently, increased consumption of borates for
fibreglass insulation was expected. Continued investment in new
refineries and technolo-gies and the continued rise in demand
were expected to fuel growth in world production during the
next several years."
*Conversion made November 2015