Properties: Piskanja

Piskanja is located in a historical mining region that has good infrastructure for mining including roads, rail, electric power, experienced miners, etc., 250 km south of Belgrade, Serbia by good paved roads.

What is Boron?

The Piskanja property has a historical estimate* of approximately seven million tonnes of 39 per cent B2O3 (boron) as colemanite and ulexite, based upon historic drill data (some of which was conducted by Erin previously). Evaluation of the drill-hole data by Erin's technical advisers indicates that the Piskanja deposit has the potential of hosting additional significant borate tonnage beyond the historical estimate of seven million tonnes, based on their observations that the deposit is open both to the south and the east, as the last drill holes ended in mineralization. *[A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource. Additional drilling will be required before this historical estimate could be raised to a resource status. Erin is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.]

What is Boron?

Borate minerals and refined borate products are used extensively worldwide in the manufacture of vitreous products such as fiberglass insulation, textile fiberglass, borosilicate glass (LCD screens), ceramic glazes and porcelain enamels. These applications account for approximately 60 per cent of borate consumption, with detergents, fire retardants, metallurgy, agriculture, insecticides, wood preservatives and specialty products accounting for the remainder. 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 rose by 15 percent per year from 2000 to 2010.

Market prices reflect the relative scarcity of borates 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.

See images of Serbia

Read about the Serbia Piskanja project and the Volujski Kljuc ("VK") alluvial gold deposit.