Emerita Provides Update on Permitting Process for Romanera and El Cura Deposits
April 05 2022 - 06:00AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) announces that the permitting for the
Romanera and El Cura deposit diamond drill program at its wholly
owned Iberia Belt West Project (“IBW” or the “Project”) has entered
the final stage of the permitting process and the Company will be
able to commence the drill program on those deposits on completion.
The Department of Environment in Huelva has completed the
Environmental Statement (ES) and it has been approved by the legal
department for public posting. The resolution compiles all of the
documentation and studies produced during the environmental
assessment process along with comments and responses to community
stakeholders. This includes supportive submissions from the
municipalities of Paymogo and Pueblo de Guzman where the Project is
located.
The resolution was issued Friday, April 1 and
was delivered to the identified stakeholders, who have up to 15
calendar days to review the documents at the end of which it will
receive final endorsement from the Head of the Environment
Department and drilling will commence by the Company. Emerita has
already completed its review of the documents and is completely
satisfied with the conclusions. Agreements are already in place
with the landowners in the area to facilitate access to the drill
sites.
According to Joaquin Merino, P.Geo., President
of Emerita, “We are ready to commence the drill program as soon as
the permit is received. We have increased the number of drills on
the Project to 7 in anticipation of the expanded drill program and
one more will arrive when the program gets started. We aim to have
the delineation program on the three deposits done by year-end. We
have also established a second core shack in the town of Paymogo
for the Romanera Deposit drilling. El Cura and Infanta drill holes
will continue to be processed in the existing facility in Pueblo de
Guzman.”
The Company has permitted more than 50 diamond
drill sites for this phase of the drilling (see Figure 1 and 2
below for Romanera and El Cura drill site plan). In keeping with
Company’s normal practice, drill pads will be progressively
reclaimed as drilling is completed to minimize the footprint of the
program.
According to David Gower, P.Geo, CEO of Emerita,
“The Romanera deposit is expected to be the cornerstone of the
Project and it is already a significant deposit based on the 51
historical drill holes completed by Rio Tinto and Asturiana de Zinc
in the past (see Emerita’s website for details). Of particular
note, the deposit is open at depth below 350 meters. It also
remains open along strike. Drilling has delineated mineralization
over approximately 450 meters of strike, however Emerita’s
electromagnetic (EM) survey maps the conductor associated with this
deposit for 1.2 kilometers of strike (see Figure 1).”
Figure 1: Romanera deposit initial
planned drill pad locations. Drilling platforms have been planned
on existing trails and roads, to minimize the environmental
footprint of the drill program. Note the surface projection of the
Romanera deposit in red. The deposit has only been drilled along
450 meters of the 1,200 meter long TDEM conductor that is
associated with the mineralization at the Romanera
Deposit.https://www.globenewswire.com/NewsRoom/AttachmentNg/c0089c79-5fa8-41ae-aa0d-243851cb5724
Figure 2: El Cura deposit and regional
targets, initial planned drill pad
locations.https://www.globenewswire.com/NewsRoom/AttachmentNg/facfa6ac-3392-4018-b082-805419f952ec
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.
A Qualified Person has not done sufficient work
on behalf of Emerita to classify the historical deposits referred
to above as current mineral resources or mineral reserves and
Emerita is not treating the historical estimates as current mineral
resources or mineral reserves. The historical estimates should not
be relied upon.
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, the Company’s ability to obtain the requisite approvals
for its exploration plans and the timing of any such approvals; the
mineralization of the IBW Project 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.
Emerita Resources (TSXV:EMO)
Historical Stock Chart
From Feb 2024 to Mar 2024
Emerita Resources (TSXV:EMO)
Historical Stock Chart
From Mar 2023 to Mar 2024