Boron One Holdings Inc, a company dedicated to the decarbonization of Planet Earth through the responsible utilization of its boron assets, reported that an independently authored Feasibility Study for the Company’s Piskanja Boron Project has been completed, and is ready for submission to the Serbian Mining Ministry in compliance with the terms of the Company’s exploration license. Submission of the Feasibility Study, which has been drafted in accordance with Serbian mining regulations, will fulfill the Company’s second and final obligation in the mineral exploitation license approval process.
The Company is awaiting completion of the vetting process of its Geological Elaborate by the Serbian Mining Ministry’s independent Mining Commission, as the mandatory first step in the exploitation license approval process. As previously reported by the Company, approval of a Geological Elaborate results in the issuance of a Certificate of Reserves by the Mining Ministry. Upon receipt of the Certificate of Reserves, it is included with the Feasibility Study as a requisite part of the Feasibility Study submission process.
A Serbian compliant feasibility study is of similar scope, scale and confidence level as a CIM (Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Reserves) compliant pre-feasibility study. The Piskanja Boron Feasibility Study defines the optimal development scenario for an underground mine, product beneficiation circuits, plant site, infrastructure, environmental safety, and a closure plan. The Feasibility Study includes an analysis of all aspects of the project, and incorporates data from several external studies, including the Company’s Geological Elaborate, metallurgical testing, 3D resource modeling, and others. The Feasibility Study was authored by an independent, experienced mining engineering institute in Serbia.
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 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, EurGeol, a Qualified Person in accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Standards), and independent of Boron One Holdings Inc.
