Emerita Intersects 7.61 g/t Gold, 311.1 g/t Silver, 3.0% Zinc, 2.9% Lead, 0.4% Copper Over 14.3 Meters in First Hole Completed at the Romanera Deposit
June 23 2022 - 6:00AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) is pleased to announce assay results
for hole LR002 which is the first drill hole completed at the
Romanera deposit at Emerita’s wholly-owned Iberia Belt West Project
(“IBW” or the “Project”) (see Figure 1). As previously reported on
June 7, 2022, Hole LR002 intersected 14.3 meters of massive
sulphides from 134.2 meters. Assay results now confirm Hole LR-002
intersected:
-
14.3 meters grading 7.61 g/t gold, 311.1 g/t silver, 3.0%
zinc, 2.9% lead, 0.4% copper from 134.2 meters depth (see
Figure 2).
- Included in the
intercept is:
- 7.8
meters grading 9.74 g/t gold, 372.9 g/t silver, 0.7% zinc, 2.7%
lead, 0.6% copper from 136.2 meters depth; and
- 4.6
meters grading 4.56 g/t gold, 235.9 g/t silver, 8.0% zinc, 3.8%
lead, 0.2% copper from 144.0 meters
- QA/QC was
completed on the intercept samples including internal QA/QC by ALS
Labs and standard and blank samples submitted by the Company
confirming the high-grade assays are valid.
Three additional drill holes have been completed
to date and also appear to have intersected significant sulfide
mineralization. Samples have been shipped to the ALS lab for
analysis and these results will be reported once data is
received.
According to David Gower, P.Geo, CEO of Emerita,
“We had a sense from reviewing certain of the historical data that
the deposit could be enriched in precious metals. Interestingly
most of the upper part of the deposit as delineated by historical
drilling was never assayed for gold. This presents significant
upside potential even within the area.”
Joaquin Merino, P.Geo, President of Emerita
notes, “We were pleasantly surprised when we received the assay
data and the QA/QC confirmation. There are some historical
intercepts with anomalous gold and silver values, but this
potential appears not to have been systematically evaluated by the
historical work. There are a lot of drill intercepts to come and
this is a remarkable start to the program.”
The Company has six drills at the Romanera
deposit and expects there should be a steady flow of results in the
coming months.
Figure 1: Plan map showing the location
of first six drill holes at Romanera. LR002 is marked in
red.
https://www.globenewswire.com/NewsRoom/AttachmentNg/69d9e176-0672-43f9-a945-10ad956b3971
Figure 2: Cross section showing the
location of drill hole LR002. For results from historical drilling
refer to Emerita’s news release dated June 7, 2022. The earlier
holes drilled by previous operators were not assayed for
gold.
https://www.globenewswire.com/NewsRoom/AttachmentNg/bce126e4-24c7-4114-b562-bebccf2f1d5c
Table 1: Drill Hole LR002
Details
DDH |
Easting |
Northing |
Elevation |
azimuth |
dip |
depth (m) |
FROM |
TO |
Width (m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
LR002 |
646567.00 |
4172435.00 |
146 |
224 |
-54 |
160.3 |
134.2 |
148.5 |
14.3 |
0.4 |
2.9 |
3.0 |
7.61 |
311.1 |
incl. |
|
|
|
|
|
|
136.2 |
144.0 |
7.8 |
0.6 |
2.7 |
0.7 |
9.74 |
372.9 |
incl. |
|
|
|
|
|
|
144.0 |
148.5 |
4.6 |
0.2 |
3.8 |
8.0 |
4.56 |
235.9 |
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 NI 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, the mineralization of the IBW Project; the timing of
assay results; the prospectivity of the Project; the timing and
ability of the Company to produce an NI 43-101 resource estimate
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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