Boron One Holdings Reports Positive, Final Bulk-Scale Metallurgical Test Results from Its Piskanja Boron Project News Highlights: ✓ This third bulk test resulted in the production of a commercial grade Boric Acid with a 56.03%
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BORON ONE HOLDINGS INC.
NEWS RELEASE – for immediate release
Boron One Holdings Reports Positive, Final Bulk-Scale
Metallurgical Test Results from Its Piskanja Boron Project
News Highlights:
✓ This third bulk test resulted in the production of a commercial grade Boric Acid with a 56.03%
B2O3 grade, and a leach recovery rate of 87.2%.
✓ Boron One has now received positive beneficiation results from all 3 bulk metallurgical tests
conducted, demonstrating the ability to monetize the entire Piskanja Boron Deposit.
September 5, 2023
Victoria, BC /Accesswire/
Boron One Holdings Inc. (“Boron One” or the “Company”) [TSXV: BONE], a company dedicated to
the decarbonization of Planet Earth through the responsible utilization of its boron assets, is
pleased to report on a third and final, positive set of results from bulk-scale metallurgical testing
conducted on samples from its 100% owned Piskanja Boron Property (“Piskanja”). The testing
returned a commercial grade of Boric Acid (with a 56.03% B2O3 content and a leach recovery rate
of 87.2% ). These results meet the specifications of Boric Acid commercially produced by other
leading boron producers.
With the conclusion of this final bulk metallurgical testing program, the Company has successfully
demonstrated the potential for all borate mineral zones found within Piskanja (colemanite, ulexite,
and mixed borates zones) to produce commercial-quality finished products on par with those found
by other leading global producers, while utilizing low cost, effective beneficiation methods that
deploy off-the-shelf technologies.
“We are very pleased by the results of the recent three bulk testing programs, as w e have no w
demonstrated the ability to monetize the entire Piskanja deposit" said Tim Daniels, CEO of Boron
One Holdings. “Importantly, this metallurgical work was the final external study which was needed
in order to complete our Serbian compliant feasibility study. The engineering group authoring our
feasibility study has confirmed that it is integrating these metallurgical results into the feasibility
study, and that it will be ready for submission by the filing due date.”
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Highlights of metallurgical tests
Mixed borate (sodium/calcium/silica borate conglomerate): A blended sample of approximately 170
kgs, representing each of the mixed borate zones within Piskanja (with the test sample blended
head grade of 28.0% B2O3, approximating that of the average mixed borate zone grade found
within Piskanja overall) underwent grinding and sulfuric acid leaching, and resulted in the
production of a sales -grade Boric Acid, with a 56. 03% B2O3 content and a leach recovery rate of
87.2%.
Background of the Metallurgical Testing
Boron One Holdings Inc. and its operati ng subsidiary, Balkan Gold, retained the services of ALS
Metallurgy in Bernie, Australia to conduct a mineralogical assessment , a bench-scale metallurgical
test program, and ultimately a bulk-scale testing program, on composites representing a number
of the drill core intervals on borate materials originating from Boron One’s Piskanja Boron Project.
ALS Metallurgy is an experienced provider of metallurgical testwork to the boron industry, having
worked extensively with borates from various locations globally. Materials from the 3 distinct
mineral zones found at Piskanja are represented in the sampling – “colemanite zones”, “ulexite
zones”, “mixed borate zones”. The intention was to conduct lab scale testing in order to optimize
the beneficiation process, which was then followed by a bulk testing program.
The lab scale testing was conducted on approximately 20 kgs of material from each of the 3 borate
zones. The bulk scale testing was conducted on approximately 200 kgs from each of the same 3
zones. Testing methods utilized standard “off the shelf” industrial equipment and protocols
(grinding, attrition scrubbing, screening, calcination, and/or acid leaching as appropriate) to achieve
the results.
Care and attention were taken to produce samples for testing by ALS that are representative of the
3 mineral types/zones within the Piskanja Deposit. Samples were taken from across the entire
footprint of Piskanja, with the blended grade of each of the 3 s amples closely approximating the
overall grade found with Piskanja for each mineral zone. The samples tested by ALS are comprised
of both ¼ cores and crushed rejects from previous assaying. No refining/upgrading/concentrating
was performed on any samples prior to shipping to ALS.
In total, 602 samples, totaling 658 kgs are included in the testing, which incorporate all 12 ore bodies
at Piskanja, the 3 mineral types, and 560.88 meters of drill intervals, that are represented in the
Company’s Mineral Resource Estimate (published June 24, 2022).
About the Piskanja Boron Project
Piskanja is Boron One Holdings Inc.’s wholly owned boron deposit with a Measured Mineral
Resource of 1.39 million tonnes (averaging 35.59% B2O3), an Indicated Mineral Resource of 5.48
million tonnes (averaging 34.05% B2O3), and an Inferred Mineral Resource of 284.7 thousand tonnes
(averaging 39.59% B2O3), calculated in accordance with the Canadian Institute of Mining Definition
Standards on Mineral Resources and Reserves (CIM Standards), as disclosed in the Company’s
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report titled, “Technical Report and Preliminary Economic Assessment For The Piskanja Borate
Project, Serbia, June 24, 2022”. The responsible person for the PEA and the Mineral Resource
Estimate contained within, is Prof. Miodrag Banješević PhD. P.Geo, Eur Geol, a Qualified Person in
accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Standards),
and independent of Boron One Holdings Inc.
On behalf of the Board of Directors,
Tim Daniels
About Boron One Holdings Inc. (formerly known as Erin Ventures Inc.)
Boron One Holdings Inc. is an international mineral exploration and development company with
boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Boron One’s shares are traded on
the TSX Venture Exchange under the symbol " BONE". For detailed information please see Boron
One's website at www.boronone.com or the Company's filed documents at www.sedar.com.
For further information, please contact: Boron’s Public Quotations
Blake Fallis, General Manager TSX Venture: BONE
Phone: 1-250- 384-1999 or 1-888-289-3746 Berlin: EKV
[email protected] US: SEC 12G3-2(B) #82-4432ERVFF
www.boronone.com OTCBB: ERVFF
Qualified Persons
Nenad Rakic, EurGeol, Piskanja Project Field Manager, a qualified person as defined by NI 43 -101,
has reviewed the technical information that forms the basis for this news release, and has approved
the disclosure herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
For Boron One Holdings Inc. Investors
Certain statements made in this press release that are not based on historical information are
forward-looking statements that involve substantial known and unknown risks and uncertainties.
This press release contains express or implied forward-looking statements relating to, among other
things, Boron One’s expectations concerning management's plans, objectives and strategies,
including its plans for advancing the Company's Piskanja Project through to an exploitation license.
These statements are neither pr omises nor guarantees but are subject to a variety of risks and
uncertainties, many of which are beyond our control, and which could cause actual results to differ
materially from those contemplated in these forward-looking statements. Existing and prospective
investors are cautioned not to place undue reliance on these forward -looking statements, which
speak only as of the date hereof. Factors that could cause actual results to differ materially from
any forward-looking statement include, but are not limited to, failure to convert estimated mineral
resources to reserves, capital and operating costs varying significantly from estimates, the
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preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political risks, uncertainties relating to the
availability and costs of financing needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the development of projects and the
other risks involved in the mineral exploration and development industry.
Boron One Holdings Inc. undertakes no obligation to update or revise the information contained in
this press release, whether as a result of new information, future events or circumstances or
otherwise except as expressly required by applicable securities law. Further information regarding
the uncertainties and risks can be found in the disclosure documents filed by Boron One with the
securities regulatory authorities, available at www.sedar.com. These and other factors made in
public disclosures and filings by the Company should be considered carefully.
Mineral resources are not mineral reserves and do not have demonstrated economic viability.
"Inferred Resources" have a great amount of uncertainty as to their existence, and economic and
legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral
resource reported in this news release will ever be upgraded to a higher category or to reserves.
U.S. persons are advised that while mineral resources are recognized under Canadian regulations,
the U.S. Securities and Exch ange Commission does not recognize them. U.S. persons are also
cautioned not to assume that all or any part of an inferred mineral resource is economically or
legally mineable.