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OUTSIDE REVIEW OF DEEP RIVER GOLD PROJECT RECOMMENDS
FURTHER EXPLORATION AND DRILLING Erin Ventures Inc. (TSX-Venture: EV) reports that Dr. Allan Juhas, a recognized and experienced AIPG certified consulting geologist in early stage gold and base metal exploration programs, has assisted Erin in reviewing the results of the 2007 drilling program at its Deep River gold project in North Carolina. His report concludes that further drilling is warranted at the existing drill target along with further exploration on four additional targets in the area. Dr. Juhas has recommended various additional studies and detailed core logging to work out stratigraphic relationships, prior to the next phase of drilling. Erin Ventures will proceed with further exploration and plans to incorporate his recommendations into future drilling and exploration activities. Dr. Juhas’s review and report have been an excellent outside audit of work completed to date on the project and are of assistance in planning the next phase of exploration. A summary of his report follows: An exploration program consisting of 12 diamond drill holes has outlined a significant body of rather continuous gold mineralization over an area approximately 1,000 feet wide by 1,000 feet long within a package of intermediate (dacite) volcanic rocks and related intrusive rocks. The better part of the mineralized zone is approximately 200 to 300 feet thick and is potentially open in all directions. It is part of a much larger northwesterly trend defined by earlier soil geochemical surveys. The most intensely mineralized zone is concentrated near surface down to a depth of approximately 300 feet and appears to transgress lithologies, including weathered zones, as well as zones of differing intensities of hydrothermal alteration. Gold values in the low to mid hundreds of parts per billion are pervasive throughout the mineralized zone. The drilling suggests that all mineralization encountered to date belongs to a single thick plate which may be splitting into upper and lower zones towards the southwest. Erin holes 1, 5 and 11 bottomed in mineralization. Drilling in the area has been on the largest gold geochemical anomaly defined by a USA subsidiary of Noranda Mining Company in the early 1990’s. This target, including its most prospective parts, has not been completely evaluated. Trend analyses suggest that gold grades and volumes are increasing in a southwesterly direction where they appear to be dipping shallowly beneath more poorly mineralized rocks. This trend and other untested portions of the larger geochemical anomaly should be pursued by more drilling. Also, four additional, poorly explored, gold targets based on soil gold geochemistry exist as separate target areas one to two miles away, on trends to the north northwest and to the northeast of the area drilled to date. All of these targets should be evaluated. Further drilling is recommended at the existing drill target as well as further exploration on the four additional targets. The only molybdenum-bearing gold deposits associated with submarine volcanic rocks and related exhalite formations, outside of the Carolina slate belt, that Dr. Juhas is aware of, are in the well-known Hemlo gold district in Ontario, Canada. There is no consensus about the origin of the gold mineralization at either Hemlo or at Deep River. On behalf of the Board of Directors, ABOUT DEEP RIVER The alteration associated with this porphyry system forms an elliptical shape elongated in a northwesterly direction and covers an area of approximately 8 km by 5 km. Within this system, the known soil gold anomaly (+ 50 ppb) has dimensions of approximately 3 km by 1 km with gold values up to 3.5 g/t. This high-level porphyry gold style mineralization in the Carolina Slate Belt is considered to have the potential for significant economic value and possible future mine development. The technical information in this release was prepared by Dennis LaPoint, Registered Geologist in the State of North Carolina, a director of the Corporation, who is a Qualified Person under National Instrument 43-101. Erin Ventutures Inc. A Schwab and Associates (Investor Relations). Erin’s Public Quotations: |
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