Emerita Resources Receives Approval for La Romanera and El Cura Deposit Drilling, Four Diamond Drills Commencing on Romanera
May 10 2022 - 6:00AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) is pleased to announce that further to
its April 5, 2022 press release, the Territorial Delegation of
Sustainable Development of Huelva (Ministry of Agriculture,
Livestock, Fisheries and Sustainable Development) of the Regional
Government of Andalusia granted Emerita the Unified Environmental
Authorization (Autorizacion Ambiental Unificada) (the “AAU”) in
respect of the La Romanera and El Cura deposits at the Company’s
wholly-owned Iberia Belt West Project (“IBW” or the “Project”). The
Company is now fully permitted to execute on its drill program at
the La Romanera and El Cura deposits and drilling is commencing as
soon as set up is completed.
Initially, four diamond drills will commence
delineation of the large Romanera deposit and one will commence on
the El Cura deposit. There are 50 drill pads presently permitted on
the Romanera deposit and the program there is planned to be at
least 15,000 meters of drilling in the initial phase. Romanera is
the largest deposit on the property to date and has a historical
estimate, calculated by Rio Tinto and available on the Government
of Andalusia web site, of 34 million tonnes grading 0.42% copper,
1.1% lead, 2.3% zinc, 44 g/t silver, 0.8 g/t gold. Included within
this large sulphide body is 11.2 million tonnes grading 0.40%
copper, 2.47% lead, 5.5% zinc, 64 g/t silver, 1.0 g/t gold. The
deposit has been drilled along a strike length of approximately 450
meters and to a depth of 350 meters. It remains open for expansion
to the east, west and at depth. Emerita’s TEM survey indicates the
conductor associated with the deposit has strike length of 1.2
kilometers. Refer to news release dated April 22, 2022 for further
details. The permit is posted on the Government web site and may be
viewed at
https://consigna.juntadeandalucia.es/575f1593e80ba6c6e7439399525ec5c4.
According to Joaquin Merino, P.Geo., President
of Emerita, “Our field team are very excited to get the drilling
started on the Romanera and El Cura deposits. We have established a
second core shack in Paymogo, close to the Romanera deposit in
order that we can efficiently process a large volume of core from
the Project. We are also engaging numerous analytical labs to
improve assay turn around time.”
Emerita initiated the administrative procedures
to obtain the AAU on December 4, 2021 after previously obtaining
the Urban Compatibility Reports from the Town Councils of Puebla de
Guzmán and Paymogo (Huelva), which are binding and essential for
obtaining the authorization. All obligatory public information and
consultation periods have now been satisfied and all comments from
environmental groups regarding the AAU have been addressed by the
Company.
Obtaining the AAU is a key milestone for the
continued exploration and development of the IBW Project. The AAU
was required to initiate the drilling of the La Romanera and El
Cura deposits as they are located in the Natura 2000 Network Area,
which is subject to stricter European environmental protection
regulations than the eastern side of the Property. Emerita would
like to thank its Spanish team and advisors for their efforts in
obtaining the AAU.
The AAU includes environmental requirements for
the Company aimed at preventing and minimizing environmental
impacts, as well as precautions regarding cultural heritage.
Emerita is committed to the conservation and protection of the
environment and looks forward to working with the people and
government of Puebla de Guzmán and Paymogo (Huelva) as it ramps up
operations at the IBW Project.
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 drill program; 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.
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