Piskanja is Erin Ventures’ wholly owned boron deposit in Serbia. Erin Ventures Inc. announced that, further to its news release dated December 17, 2020 in which Erin stated that it had entered into a Letter of Intent with Temas Resources Corp. for the joint development of Erin’s Piskanja Borate Project, the parties have recently concluded their due diligence process with a favourable outcome, and are now working to complete a definitive, binding agreement based on the terms in the LOI. It is anticipated that the definitive agreement will be completed imminently.
Piskanja is Erin’s wholly owned boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31.0 per cent B2O3), and an inferred resource of 3.4 million tonnes (averaging 28.6 per cent B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards), as disclosed in Erin’s report titled, “Mineral Resource Estimate Update On The Piskanja Borate Project, Serbia, October 2016 – Amended February 28 2019” – prepared by SRK Consulting (UK) Ltd. The responsible persons for the Updated MRE are Dr Mike Armitage (C.Eng. C.Geol.) and Dr Mikhail Tsypukov who are both full time employees of SRK and Qualified Persons in accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Standards), and independent of Erin Ventures.