Emerita Intersects 11.1 Meters Grading 3.6% Copper, 27.8% Zinc, 15.1% Lead and 319 g/t Silver at Iberia Belt West Project, Spain
September 08 2021 - 6:00AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) announces that it has intersected high
grades in five drill holes at the Infanta polymetallic VMS Deposit
on the Iberia Belt West (IBW) project in Huelva Province, Spain
(“IBW” or the “Project”). Drill hole IN008 had an exceptional
intercept which occurs from 64.5 – 75.6 meters and grades 3.6%
copper, 27.8% zinc 15.1% lead, 319.3 g/t silver and 0.8 g/t gold.
This is the highest grade, widest mineralized intercept to date and
occurs approximately 200 meters to the west of hole IN003 (see news
release dated August 20, 2021).
Please see Figure 1 below for drill hole
locations, Figure 2 for the longitudinal section, Figure 3 for a
cross section of hole IN008 and Table 1 below for assays and drill
hole coordinates. The intersections are summarized as follows:
Table 1: Assay results and drill hole
locations
DDH |
Easting |
Northing |
Elevation |
azimuth |
dip |
depth |
FROM |
TO |
Width |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
(m) |
(m) |
IN002 |
654194 |
4171542 |
200.2 |
172 |
-50 |
54.6 |
31.5 |
34.5 |
3 |
0.6 |
2.4 |
4.1 |
0.22 |
40.3 |
IN005 |
654092 |
4171542 |
207.1 |
172 |
-50 |
92.5 |
57.4 |
60 |
2.6 |
2.3 |
13.8 |
22.3 |
0.21 |
98.2 |
IN006 |
653862 |
4171535 |
204.4 |
172 |
-50 |
84.6 |
49.3 |
52.5 |
3.2 |
2.2 |
7.9 |
9.1 |
0.44 |
150.8 |
IN007 |
654151 |
4171503 |
200.2 |
172 |
-50 |
63 |
26.1 |
29.4 |
3.3 |
1.7 |
4.2 |
7.9 |
0.36 |
110.2 |
|
654151 |
4171503 |
200.2 |
172 |
-50 |
63 |
33.4 |
35.4 |
2 |
0.6 |
1.4 |
2.9 |
0.05 |
27.5 |
IN008 |
653811 |
4171537 |
198.6 |
172 |
-50 |
126.6 |
64.5 |
75.6 |
11.1 |
3.6 |
15.1 |
27.8 |
0.8 |
319.3 |
- The Company has completed 1,253
meters of drilling to date in 11 holes and two additional holes are
in progress. Assay results have been received for 8 holes so
far.
- The area tested by drilling to date
is 300 m along strike and 100 m deep and will continue to expand as
the program progresses. All the holes have intercepted
mineralization.
- The mineralization is characterized
by massive to semi-massive lenses of sphalerite, chalcopyrite,
galena and pyrite, with sphalerite the predominant sulphide
mineral.
- The sulphide mineralization is
hosted by a silicified dacite unit, situated at the hangingwall
contact with a volcanoclastic unit. The massive to semi-massive
sulphides range from approximately 3 meters thick up to 11 meters
(intercept in hole IN008). True thickness is 85% - 95% of the core
length in the holes drilled to date.
- A brecciated and silicified dacite
horizon of 15 to 20 m thick carrying sulphide mineralization in
stockwork and disseminations occurs below the massive sulphide
layer. This footwall mineralization locally will increase the
thickness of the mineralized intercepts. Samples from the footwall
stringer zone predominantly still have assays pending as only the
massive sulphides are being “rush assayed”.
- The La Infanta deposit shows a
classic VMS and Iberian Belt mineralization pattern, massive to
semi-massive sulphide layer with an underlying stockwork zone
interpreted to represent a classic VMS feeder zone.
- The drill program continues to
expand the deposit along the strike and at depth.
Figure 1: Location of drill holes with
assays Infanta
Deposit.https://www.globenewswire.com/NewsRoom/AttachmentNg/388e831b-79ce-415d-8ce4-a192657dd945
Figure 2: Vertical longitudinal section,
Infanta Deposit
drilling.https://www.globenewswire.com/NewsRoom/AttachmentNg/29cb4623-9f29-4395-b6b7-d70d20bdacdb
Figure 3: Cross section with drill hole
IN008 at the dacite – volcaniclastic contact. Cross sections for
the other drill holes are similar and can be viewed on the
Company’s
website.https://www.globenewswire.com/NewsRoom/AttachmentNg/4f12a2a3-70f9-4021-a3ae-1817b279f105
Qualified PersonThe 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 InformationThis 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
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.
NEITHER 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.
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