Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) is pleased to announce additional
assay results from the 2022 exploration drilling at its Iberian
Belt West (IBW) project (“IBW” or the “Project”). IBW hosts three
previously identified massive sulphide deposits: La Infanta, La
Romanera and El Cura. All deposits are open for expansion along
strike and at depth.
The drill program to date has been focused on
the Romanera and La Infanta deposits. The following table presents
the latest results obtained from the La Infanta and Romanera
deposits and their extensions. Drilling continues at both sites
with one drill continuing at La Infanta and the remaining rigs at
Romanera. Since obtaining drill permits for Romanera, the IBW
program focus has shifted to delineating the Romanera deposit,
which is the largest deposit on the Project
At present, drilling is hampered by the high
temperatures being experienced in southern Spain. Due to the high
fire index rating and to protect the health and welfare of the
drillers with daytime temperatures in the plus forty-degree Celsius
range, no drilling is permitted between 2:00-8:00 PM. Drilling
continues at night and earlier in the day before temperatures get
too high.
La Romanera:
Assays have been received for two drill holes at
La Romanera (Figure 1).
Drill Hole LR005:
Drill hole LR005 intercepted mineralization
approximately halfway between Holes LR002 and LR003, along section
6500E (Figure 2). The Upper Lens occurs from 117.7m with 7.0m
grading 0.2% copper, 3.9% lead, 4.4% zinc, 2.44 g/t gold, 143.1 g/t
silver. The Lower Lens was intercepted 43.8m below the Upper Lens
and encountered 16.9m grading 0.4% copper, 1.0% lead, 2.2% zinc,
2.90 g/t gold, 145.2 g/t silver (including 4.0m grading 0.3%
copper, 1.5% lead, 1.4% zinc, 4.45 g/t gold, 178.8 g/t silver).
Drill Hole LR007:
LR007 intercepted mineralization on section
6800E (Figure 1), which is a 100 meter step out to the east of any
previous drilling at Romanera and demonstrates continuation of the
mineralization eastward beyond historical drilling. Massive
sulphide mineralization was intercepted approximately 400 meters
vertically below surface. The hole intercepted the Lower Lens from
547.0m with 7.0m grading 0.8% copper, 0.7% lead, 2.9% zinc, 0.15
g/t gold, 14.7 g/t silver (including 2.5m grading 0.6% copper, 1.5%
lead, 6.9% zinc, 0.24 g/t gold, 30.5 g/t silver).
According to Joaquin Merino, P.Geo., President
of Emerita, “Drilling in the core of the La Romanera deposit
confirms the presence of two lenses, running parallel and dipping
70-75º to the North. Correlation with historical drilling is very
good, however current drilling is showing higher gold and silver
grades as was seen in the initial drillholes. There appears to be a
zonation in the lower lens based on the initial drilling with
higher gold – silver values near the upper contact and higher base
metal values toward the lower contact of the lens. Results from
additional holes will be required to verify whether this is a
deposit-wide feature. Hole LR007 is an important,
result representing at least a 100 meter expansion of the
mineralization to the east. In this drill hole, only the lower lens
is present and is characterized by higher copper content near the
upper contact and richer in zinc at the base of the massive
sulphide unit.”
Figure 1: Location map, Romanera Deposit
drill holes LR005 and LR007.
https://www.globenewswire.com/NewsRoom/AttachmentNg/d87fab0f-33fd-4c6f-8655-08deb67db826
Figure
2 : Romanera Deposit cross
section 6500E showing drill Hole LR005 Upper and Lower Lens
intercepts.
https://www.globenewswire.com/NewsRoom/AttachmentNg/84d23b35-a6a6-4d70-826a-c3683dbfe0c8
La Infanta:
Drilling continues to expand the La Infanta
Deposit (Figures 3 and 4). Mineralization has now been shown to
extend for at least 1,200 meters along strike and to a depth of
approximately 400 meters and remains open in all directions. The
mineralization occurs in an extensive, tabular sheet in the North
Block which is interpreted to be a faulted continuation of the
South Block. The South Block is truncated at approximately 130
meters depth by a thrust fault. Drill hole IN054 has intersected
high grades in the North Block similar to those seen in the South
Block (details below) and it is possible this is the displaced
continuation of the high grade South Block mineralization. Drilling
is continuing to evaluate this area on the east side of the
deposit. The significant intercepts highlighted below
are located in the eastern, central and western sides of the La
Infanta deposit, respectively. The strike length between these
holes is 1,200m and depths range between 170 and 350 m below
surface. A complete list of recent drill hole results from Infanta
are included in Table 1 below.
Drill Hole IN054:
IN054 intercepted mineralization 170m below
surface, in the eastern side of the deposit, in the North Block.
The intercept occurs from 220.2m with 3.2m grading 1.9% copper,
9.2% lead, 17.1% zinc, 0.55 g/t gold, 226.3 g/t silver (including
1.3m grading 3.9% Copper, 20.0% lead, 36.8% zinc, 0.53 g/t gold,
401.4 g/t silver). Drilling around this intercept is planned to
test the continuity of the mineralization.
Drill Hole IN039:
IN039 intercepted mineralization 350m below
surface, in the center part of the deposit, in the North Block. The
intercept occurs from 375.0m with 3.5m grading 0.9% copper, 5.2%
lead, 3.0% zinc, 0.46 g/t gold, 184.3 g/t silver (including 1.2m
grading 2.6% copper, 14.5% lead, 8.7% zinc, 1.31 g/t gold, 526.0
g/t silver). Drillhole IN039 is the deepest hole in this area in La
Infanta demonstrating the deposit continues at depth in this
area.
Drill Hole IN045:
IN045 intercepted mineralization 220m below
surface, in the western part of the deposit, in the North Block.
The intercept occurs from 262.2m with 9.1m grading 0.5% copper,
1.6% lead, 2.8% zinc, 0.42 g/t gold, 62.4 g/t silver (including
0.9m grading 2.7% copper, 5.6% lead, 10.7% zinc, 1.31 g/t gold,
400.0 g/t silver). Drillhole IN045 is the westernmost extent of the
La Infanta deposit to date, indicating the mineralization continues
towards the west. Joaquin Merino, P.Geo., President of Emerita
comments, “The Infanta drilling is outlining a very extensive
mineralized zone that continues for at least 1,200 meters along
strike and from surface to 350-400 meters deep. The Company plans
to tighten the drill spacing, particularly in the areas showing
higher grades to provide for completing a NI 43-101 compliant
mineral resource estimate. Given the wide extent of the
mineralization relative to the historical drilling, we expect a
significant increase in the deposit size relative to historical
estimates. The likelihood of extending the deposit at depth and
along strike remains considerable.”
Figure 3: Location map showing La
Infanta drill hole locations.
https://www.globenewswire.com/NewsRoom/AttachmentNg/534025c9-b3f7-4f50-946f-a1db0c910b26
Figure 4: Longitudinal section of the La
Infanta North Block.
https://www.globenewswire.com/NewsRoom/AttachmentNg/23c19a25-e031-406a-a2a9-bcaba82bb775
Table 1. Diamond drillhole data: La Infanta and
La Romanera.
Deposit |
DDH |
Easting |
Northing |
Elevation |
azimuth |
dip |
depth (m) |
FROM |
TO |
Width (m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
BLOCK |
LA INFANTA |
IN039 |
653908 |
4171800 |
201 |
176 |
-62 |
378.50 |
375.0 |
378.5 |
3.5 |
0.9 |
5.2 |
3.0 |
0.46 |
184.3 |
NB |
incl. |
|
|
|
|
|
|
376.0 |
377.2 |
1.2 |
2.6 |
14.5 |
8.7 |
1.31 |
526.0 |
NB |
IN042 |
654717 |
4171750 |
201 |
171 |
-50 |
141.50 |
117.5 |
119.5 |
2.0 |
0.0 |
0.1 |
0.0 |
1.54 |
67.0 |
NB |
incl. |
|
|
|
|
|
|
117.5 |
118.5 |
1.0 |
0.0 |
0.1 |
0.0 |
2.33 |
112.0 |
NB |
IN045 |
653325 |
4171739 |
184 |
177 |
-51 |
351.90 |
262.2 |
271.3 |
9.1 |
0.5 |
1.6 |
2.8 |
0.42 |
62.4 |
NB |
incl. |
|
|
|
|
|
|
266.2 |
267.2 |
0.9 |
2.7 |
5.6 |
10.7 |
1.31 |
400.0 |
NB |
incl. |
|
|
|
|
|
|
270.5 |
271.3 |
0.8 |
0.6 |
6.5 |
11.1 |
0.10 |
13.0 |
NB |
IN046 |
654144 |
4171667 |
204 |
181 |
-48 |
373.50 |
136.4 |
137.7 |
1.3 |
0.1 |
0.9 |
1.7 |
0.09 |
16.5 |
NB |
IN046 |
|
|
|
|
|
|
206.7 |
213.2 |
6.5 |
0.1 |
1.7 |
2.1 |
0.14 |
17.2 |
NB |
incl. |
|
|
|
|
|
|
208.7 |
209.7 |
1.0 |
0.2 |
4.1 |
3.3 |
0.24 |
39.0 |
NB |
IN047 |
654009 |
4171816 |
211 |
180 |
-61 |
423.60 |
397.0 |
398.9 |
1.9 |
0.1 |
0.7 |
0.5 |
1.60 |
67.9 |
NB |
IN047 |
|
|
|
|
|
|
406.9 |
408.8 |
1.9 |
0.1 |
1.5 |
3.3 |
0.18 |
3.5 |
NB |
IN048 |
654222 |
4171687 |
199 |
174 |
-49 |
279.50 |
154.2 |
156.2 |
2.0 |
0.0 |
0.2 |
0.3 |
0.0 |
2.5 |
NB |
IN049 |
653117 |
4171716 |
176 |
177 |
-56 |
351.40 |
296.9 |
297.4 |
0.5 |
0.0 |
0.0 |
0.0 |
3.2 |
10.0 |
SB |
IN050 |
654341 |
4171678 |
205 |
173 |
-50 |
188.30 |
81.2 |
84.0 |
2.8 |
0.2 |
1.1 |
2.4 |
0.3 |
19.1 |
NB |
IN051 |
653097 |
4171874 |
201 |
179 |
-47 |
500.90 |
455.4 |
456.9 |
1.5 |
0.2 |
1.0 |
2.8 |
0.2 |
11.7 |
NB |
IN052 |
654165 |
4171551 |
204 |
173 |
-49 |
142.40 |
62.8 |
69.0 |
6.2 |
2.1 |
8.3 |
14.3 |
0.63 |
198.3 |
SB |
incl. |
|
|
|
|
|
|
66.2 |
68.2 |
2.0 |
2.9 |
12.5 |
22.2 |
0.60 |
300.5 |
SB |
IN053 |
653846 |
4171639 |
202 |
176 |
-46 |
204.80 |
104.3 |
110.6 |
6.3 |
0.7 |
2.2 |
4.5 |
0.18 |
84.6 |
NB |
IN054 |
654529 |
4171822 |
204 |
172 |
-49 |
248.50 |
220.2 |
223.4 |
3.2 |
1.9 |
9.2 |
17.1 |
0.55 |
226.3 |
NB |
incl. |
|
|
|
|
|
|
222.0 |
223.4 |
1.3 |
3.9 |
20.0 |
36.8 |
0.53 |
401.4 |
NB |
IN056 |
653993 |
4171654 |
207 |
168 |
-50 |
249.50 |
152.4 |
154.0 |
1.6 |
0.1 |
6.5 |
8.9 |
0.11 |
20.6 |
NB |
IN057 |
654080 |
4171743 |
204 |
175 |
-62 |
316.00 |
289.9 |
302.7 |
12.8 |
0.2 |
0.8 |
1.4 |
0.23 |
23.2 |
NB |
incl. |
|
|
|
|
|
|
291.9 |
294.0 |
2.1 |
0.6 |
1.6 |
2.9 |
0.56 |
73.8 |
NB |
IN059 |
654488 |
4171677 |
212 |
171 |
-64 |
213.70 |
81.4 |
82.1 |
0.7 |
0.1 |
1.4 |
2.9 |
0.09 |
8.9 |
NB |
LA ROMANERA |
LR005 |
646567 |
4172435 |
146 |
224 |
-66 |
224.40 |
117.7 |
124.7 |
7.0 |
0.2 |
3.9 |
4.4 |
2.44 |
143.1 |
UL |
LR005 |
|
|
|
|
|
|
168.5 |
185.4 |
16.9 |
0.4 |
1.0 |
2.2 |
2.90 |
145.2 |
LL |
incl. |
|
|
|
|
|
|
173.0 |
177.0 |
4.0 |
0.3 |
1.5 |
1.4 |
4.45 |
178.8 |
LL |
LR007 |
646888 |
4172759 |
154 |
188 |
-57 |
673.40 |
547.0 |
554.0 |
7.0 |
0.8 |
0.7 |
2.9 |
0.15 |
14.7 |
LL |
incl. |
|
|
|
|
|
|
547.0 |
548.0 |
1.0 |
3.7 |
0.2 |
1.3 |
0.30 |
15.5 |
LL |
incl. |
|
|
|
|
|
|
551.5 |
554.0 |
2.5 |
0.6 |
1.5 |
6.9 |
0.24 |
30.5 |
LL |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NB= North Block Infanta, SB=South Block Infanta,
LL= Lower Lens Romanera, UL= Upper Lens Romanera
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)
Vincent Chen+1 778 990 9433
(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 compliant mineral
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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