Emerita Intersects 8.2 Meters Grading 2.5% Copper, 17.3% Zinc, 8.7% Lead, 223.5g/t Silver, 0.5g/t Gold in Initial Step-Out Drill Hole at La Infanta Drill Program
October 22 2021 - 6:00AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) announces that it has received
complete assays for the first step-out drill hole from the Infanta
drill program as well as the final in-fill drill holes. The in-fill
program has verified the historical drill results and will allow
proper 3D modelling of the deposit along with providing fresh
material that can be used for future metallurgical
testing. Both drills are now stepping out to expand the
deposit. Please see Figure 1 below for drill hole locations and
Table 1 below for assays and drill hole coordinates.
- Drill
hole IN018 intersected 8.2 meters grading 2.5% copper, 8.7% lead,
17.3% zinc and 223.5 g/t silver and 0.5 g/t gold from 59.4 meters.
This is 40 meter step out to the west of the historical limits of
the deposit. In addition, hole IN023 which is located approximately
50 m west hole IN018 of the deposit has intersected two zones of
massive sulfide (assays pending). The only other hole where the
deeper second zone is intersected is in hole IN017 which is 300
meters east and this area is open for extension of the
mineralization to depth.
- There
is a strong TEM conductor extending at least 300 meters to the west
from hole IN018 (to the edge of the current survey coverage) as
well as some shallow historical workings that provide strong
evidence the deposit will extend in that direction.
- Drill
Holes IN014 – 016 were the final
in-fill drill holes and all intersected high grade mineralization,
with the highlight being hole IN014 which intersected 5.7 meters
grading 2.4% % copper, 7.3% lead, 13.4% zinc, 225.0 g/t silver and
0.6 g/t gold 84.7 meters. See Table 1 below for complete assays and
drill hole data.
- The
geophysical survey is expected to resume by the end of October,
when hunting season in the region concludes.
- The
Company plans to mobilize additional drills to expedite the
drilling of the Romanera Deposit and other regional targets
including El Cura and the new geophysical targets. It is expected 5
drills will be operating by year-end.
- True widths are
expected to be 90-95% of intersection width. Assays were conducted
at ALS Laboratories, a certified independent assay lab.
According to Joaquin Merino, P.Geo., President
of the Company: “We are excited by the progress to date and
particularly to be moving the program into the expansion drilling
phase. Based on the latest drilling we have identified what appears
to be a structural repetition of the zone at depth to the north,
seen in holes IN017 and IN023 which are 300 meters apart. The
deposit is interpreted to continue to depth in the north zone.
Assays are pending for Hole 23 and a structural model incorporating
the new information is being developed to guide future drilling. 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 drill program at Infanta is designed to test
1.5 kilometer strike length and test the depth extent to at least
300 meters down dip. Our ongoing geological mapping and geophysical
surveys confirm there is solid evidence, including some historical
excavations, that mineralization should persist over that strike
length. In addition, the geophysical data suggests the conductors
associated with the mineralization extend beyond 400 meters below
surface.
TABLE 1: Drill hole assays, orientation, and
coordinates
DDH |
Easting |
Northing |
azimuth |
dip |
FROM |
TO |
Width(m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
IN014 |
654014.88 |
4171546.78 |
172 |
-52 |
84.7 |
90.4 |
5.7 |
2.4 |
7.3 |
13.4 |
0.6 |
225.0 |
IN015 |
654048.73 |
4171489.93 |
172 |
-52 |
26.1 |
30.1 |
4.0 |
0.5 |
2.2 |
4.3 |
0.3 |
50.5 |
incl. |
|
|
|
|
27.1 |
29.1 |
2.0 |
0.9 |
4.3 |
8.1 |
0.4 |
87.0 |
IN016 |
654140.59 |
4171550.34 |
172 |
-50 |
65.8 |
70.3 |
4.5 |
1.3 |
3.5 |
6.7 |
0.4 |
172.3 |
IN018 |
653833.99 |
4171542.97 |
171 |
-50 |
59.4 |
67.6 |
8.2 |
2.5 |
8.7 |
17.3 |
0.5 |
223.5 |
incl. |
|
|
|
|
62.7 |
67.6 |
4.9 |
3.6 |
12.7 |
25.9 |
0.7 |
331.9 |
FIGURE 1: Drill hole location map;
holes in red – hole completed and assays received, holes in blue –
hole completed and assays pending, holes in white – planned drill
holes.
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.
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9c190fe3-8bb3-43e0-b042-65121ee77681
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