Emerita Reports High Grade Assays From Initial Drill Holes On La Infanta Drill Program
August 13 2021 - 6:30AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) announces that it has received
complete assays for the first two drill holes from the Infanta
drill program. Additional assays are expected in the coming
week and it is expected there should be a steady flow of new assay
data as drill holes are completed going forward. There are
presently six drill holes in the process of being assayed.
Emerita has added a second diamond drill which is expediting the
drilling of the La Infanta deposit. Please see Figure 1 below
for drill hole locations and Table 1 below for assays and drill
hole coordinates. The holes are located approximately 100
meters apart along strike.
- Drill hole IN004 intersected 7.45 meters grading 1.67%
copper, 6.01% lead, 11.49% zinc and 90.1 g/t silver and 0.49 g/t
gold from 62.55 meters, including 3.76% copper, 15.29% lead, 28.81%
zinc and 206.3 g/t silver and 1.08 g/t gold over 2.65 meters
from 64.55 meters depth (see cross section - Figure
2).
- Drill Hole IN001intersected 4.0 meters grading
0.07% % copper, 1.68% lead, 3.40% zinc and 11.50 g/t silver from
24.3 meters, and a second intercept of 2.8 m grading 0.02 %
copper, 3.79% lead, 7.50% zinc and 12.95 g/t silver from 32.3
meters depth (see cross section – Figure 3). This hole is
near surface and likely suffered some leaching of the
mineralization related to surface weathering as it is only
approximately 15 meters vertically from surface.
- Intersection widths are expected to be approximately true
width. Assays were conducted at ALS Laboratories, a certified
independent assay lab.
According to Joaquin Merino, P.Geo., President
of the Company: “It’s a very exciting time to be working in our
core shack. With two drills operating now, we are seeing a
steady supply of new drill core and are awaiting every batch of
assays with anticipation. These are the first two holes for
which we have complete assays, however all drill holes to date have
well mineralized intervals that are now in the pipeline for
assays. We are systematically stepping out through the
deposit to build the geological model that will meet the
requirements for establishing a NI 43-101 compliant mineral
resource estimate.”
The initial drill program at Infanta is designed
to test the full 1.2 kilometer strike length of the mineralization
and test the depth extent to at least 300 meters down dip.
Our ongoing geological mapping confirms there is solid evidence,
including some historical excavations, that mineralization should
persist over that strike length and this is further supported by
the preliminary results of the ongoing geophysical survey, which
also suggests the mineralization continues to depth below the
historical drilling. There are 49 historical holes
delineating the deposit to date and the program is moving from the
known mineralization and stepping out systematically along strike
and down dip to establish a NI 43-101 compliant mineral resource
estimate for the deposit.
David Gower, P.Geo., Emerita’s CEO noted, “This
is just the beginning of this project. The team is excited by
what we are seeing in the core shack. The ongoing EM survey
(see News release dated July 20, 2021) is providing excellent
information that will be valuable in targeting drill holes and data
suggests the deposits continue at depth well beyond present
drilling. The Company will add a third drill rig once we
commence drilling on the Romanera and/or El Cura
deposits.”
Health and Safety
Company employees and contractors continue to
follow all protocols related to COVID 19 precautions required to
safely operate safely. Summer temperatures in this area get
very hot and for safety reasons the Company does not operate the
drill rigs when temperatures exceed 40 degrees centigrade.
TABLE
1: https://www.globenewswire.com/NewsRoom/AttachmentNg/339df1bd-58b8-4285-8eee-057153002437
FIGURE
1: https://www.globenewswire.com/NewsRoom/AttachmentNg/684d528d-17d5-4c32-a158-1f0908bfa166
FIGURE
2: https://www.globenewswire.com/NewsRoom/AttachmentNg/d902eed9-7ed4-4e46-b087-163515cc4b75
FIGURE
3: https://www.globenewswire.com/NewsRoom/AttachmentNg/2eb75e03-79cc-45a3-ba45-121927744b67
Section showing hole IN001. It is likely that the mineralization
in this hole was impacted by partial leaching due to surface
weathering processes as it is at a vertical depth of approximately
15 meters, suggested by uncharacteristically low values
particularly for silver. The hole intersected two zones
separated by a more weakly mineralized interval. The entire
interval from 24.3 meters to 35.1 meters grades 3.51% zinc, 1.76%
lead over 10.8 meters.
Qualified Person
The scientific and technical information in this
news release has been reviewed and approved by Mr. Joaquin Merino,
P.Geo, President of the Company and a Qualified Person as defined
by National Instrument 43-101 of the Canadian Securities
Administrators.
About Emerita Resources Corp.
Emerita is a natural resource company engaged in the acquisition,
exploration and development of mineral properties in Europe, with a
primary focus on exploring in Spain. The Company’s corporate office
and technical team are based in Sevilla, Spain with an
administrative office in Toronto, Canada.
For further information, contact:
Joaquin Merino +34 (628) 1754 66 (Spain)
Helia Bento +1 416 566 8179 (Toronto)
info@emeritaresources.com
Cautionary Note Regarding
Forward-looking Information
This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements the mineralization of the Iberia Belt
West Project (the “Project”) including the infanta deposit, the
prospectivity of the Project, the timing and results of the drill
program, the Company’s ability to complete a NI 43-101 compliant
resource estimate, the impact of changes in the mining laws and
regulations, the impact of COVID 19 and the Company’s future plans.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as “plans”, “expects” or “does
not expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will be taken”, “occur” or “be achieved”. Forward- looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Emerita, as the case may
be, to be materially different from those expressed or implied by
such forward-looking information, including but not limited to:
general business, economic, competitive, geopolitical and social
uncertainties; the actual results of current exploration
activities; risks associated with operation in foreign
jurisdictions; ability to successfully integrate the purchased
properties; foreign operations risks; and other risks inherent in
the mining industry. Although Emerita has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Emerita does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
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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.
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