Business
Temas Resources and Erin Ventures Commission an Updated PEA and Advance the Licensing Process on the Piskanja Boron Project
VANCOUVER, British Columbia / Oct 07, 2021 / Business Wire / Temas Resources Corp. (“Temas”) [CSE: TMAS] is pleased to report that it and its strategic partner,
About this update from Temas Resources Corp.
[{"type":"text","content":"VANCOUVER, British Columbia / Oct 07, 2021 / Business Wire / Temas Resources Corp. (“Temas”) [CSE: TMAS] is pleased to report that it and its strategic partner, Erin Ventures Inc. (“Erin”) [TSXV: EV], have jointly commissioned an updated Preliminary Economic Assessment (PEA) for the Piskanja Boron Project. It is anticipated that the updated PEA should be complete over the next 90 days. In conjunction with the production of an updated PEA, Erin’s subsidiary Balkan Gold, which holds Erin’s rights to Piskanja, is continuing with the activities and studies required to complete a Geological Elaborate (“Elaborate”) for submission to the Serbian Mining Ministry. The approval of the Elaborate results in the issuance of a “Certificate of Reserves” by the Mining Ministry, as the first of two steps in the approval process for receiving a Mineral Exploitation License. A Serbian-compliant Geological Elaborate is of similar scope, content and confidence level as a CIM-compliant PEA. It is anticipated that the Elaborate will be submitted for approval during Q1 of 2022. “This is an exciting project as borate supply is becoming tighter and tighter,” Michael Dehn, CEO of Temas Resources. “As the world economies continue to grow so does their need for various boron products such as insulation fiberglass, borosilicate glass, thin film transistors (used to produce LCD panels), fertilizer, tiles and much more.” The budgeted expenditures for the completion of the PEA and the Elaborate will be funded by Temas as its initial contribution towards earning an interest in Piskanja. Pursuant to the terms of an agreement, Erin has provided Temas with the irrevocable right and option to earn up to a 50% undivided interest in its Piskanja Borate Project. As total consideration for the option, Temas will incur up to €10,500,000 in work expenditures towards the development of Piskanja. About Piskanja Boron Property The Piskanja boron deposit, located in Serbia, has 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, S...