Emerita Resources Corp. (TSX – V: EMO; OTCQB:
EMOTF) (the “Company” or “Emerita”) is pleased to announce that it
continues to accelerate drilling at its wholly owned Iberia Belt
West project (“IBW” or the “Project”). Presently there are 9 drills
on the La Romanera deposit delineation and 1 rig continues to drill
at Infanta. Assay results have been received from drill holes at
the La Romanera deposit (3 drill holes) and the La Infanta deposit
(2 drill holes) reported below. To date, 23 drill holes have been
completed on the La Romanera deposit which is the main focus of the
IBW program.
According to Joaquin Merino, P.Geo., President
of Emerita: “The additional drills will ensure the Company stays on
track to meet our objectives with respect to delineating the La
Romanera deposit. Restrictions on drilling between 2-8 PM, related
to high temperatures and resulting forest fire index, are also
expected to end by September 21 as temperatures moderate which will
allow 24 hour operations to resume and boost productivity as well.
Hunting season, which commences October 15, is not expected to
impact the drill program at the La Romanera deposit.”
David Gower, P.Geo., CEO of Emerita, points out,
“We continue to intersect wide thicknesses of massive sulphide and
are excited to see the results continue to build toward a maiden NI
43-101 resource estimate. The Company is in a strong financial
position with more than $20 million in the treasury which is well
above the budget for completing the campaign. Presently, there are
8 additional drill holes in the lab and 8 additional drill holes in
progress at La Romanera (one rig is under repair). At La Infanta,
there are 3 drill holes at the lab and one hole is in
progress.”
La Romanera:
Drill holes LR009, LR013 and LR015 intercepted
massive sulphide mineralization between 200 and 450 meters below
surface. Holes LR013 and LR009 are along section 6700, and about
250 m apart and returned excellent widths and grades. The deposit
in this area is very continuous in thickness and grades including
elevated grades of gold and silver. Hole LR015, located at the
western edge of the historical drilling, intercepted 20.5 m of
massive pyrite but no significant base or precious metal values
metals were obtained in this drill hole. The sulphide lens is thick
and it is characteristic of the sulphide deposits in the Iberian
volcanic massive sulphide belt to have barren sulphide zones.
Additional drilling will be required in this area given the thick
sulphide intercept.
Hole LR009 intercepted two lenses. The Upper
Lens occurs from 560.7 m with 6.7 m grading 0.3 % Cu; 1.4 % Pb; 4.2
% Zn; 0.8 g/t Au and 102.4 g/t Ag (including 1.2 m grading 0.2 %
Cu; 3.8 % Pb; 6.3 % Zn; 2.5 g/t Au and 150.8 g/t Ag). The Lower
Lens was intercepted at 581.3 m depth and comprises 16.5 m grading
0.2 % Cu; 3.1 % Pb; 3.6 % Zn; 2.3 g/t Au and 254.7 g/t Ag
(including 2.7 m grading 0.5 % Cu; 5.1 % Pb; 0.4 % Zn; 6.0 g/t Au
and 776.2 g/t Ag and a second including 2.4 m grading 0.1 % Cu; 4.2
% Pb; 10.5 % Zn; 1.0 g/t Au and 140.4 g/t Ag).
Hole LR013 intercepted two lenses. The Upper Lens occurs from
223.0 m (200 m below surface) with 4.2 m grading 0.1 % Cu; 1.5 %
Pb; 1.1 % Zn; 0.9 g/t Au and 43.5 g/t Ag (including 1.3 m grading
0.1 % Cu; 4.1 % Pb; 3.3 % Zn; 2.7 g/t Au and 98.0 g/t Ag). The
Lower Lens was intercepted at 267.0 m and comprises 20.6 m grading
0.9 % Cu; 0.5 % Pb; 0.8 % Zn; 0.5 g/t Au and 46.9 g/t Ag (including
2.0 m grading 0.3 % Cu; 2.0 % Pb; 2.9 % Zn; 2.4 g/t Au and 125.0
g/t Ag and a second including 2.1 m grading 2.6 % Cu; 0.2 % Pb; 1.1
% Zn; 0.3 g/t Au and 27.0 g/t Ag).
Figure 1: Location map showing
drill holes LR009, LR013 and LR015 of the La Romanera
Deposit. Hole LR015 is the western-most hole drilled
by the Company to date.
https://www.globenewswire.com/NewsRoom/AttachmentNg/bf8f111a-caca-4be0-8ef2-fb2177f7685d
La Infanta:
The 2 drill holes reported below are located on
the eastern and western side respectively of the La Infanta
deposit, and about 650 m apart along strike. Both holes are part of
the delineation program used to demonstrate continuity of
mineralization in support of a NI 43-101 mineral resource
estimate.
Hole IN060 intercepted sulphide mineralization in the North
Block. The deposit continues to the west in the North Block. The
intercept occurs from 96.3 m comprising 1.6 m grading 1.7 % Cu; 3.5
% Pb; 7.3 % Zn; 1.0 g/t Au and 71.3 g/t Ag. The hole did not
continue to intercept the South Block mineralization due to
technical issues in the drill hole.
Hole IN061 intercepted mineralization in both
the North and the South Block. The mineralization in the North
Block occurs from 120.5 m with 2.1 m grading 0.4 % Cu; 1.5 % Pb;
2.2 % Zn; 0.4 g/t Au and 40.2 g/t Ag. The mineralized body in the
South Block occurs from 191.7 m with 4.3 m grading 0.9 % Cu; 1.8 %
Pb; 5.4 % Zn; 0.2 g/t Au and 55.4 g/t Ag.
Figure 2: Location map showing
drill holes 060 and 061 of the La Infanta Deposit.
https://www.globenewswire.com/NewsRoom/AttachmentNg/1cb2f783-9aec-47e3-a64e-d5c86dbbd499
Table 1: Diamond drill hole data
DEPOSIT |
DDH |
Easting |
Northing |
Elevation |
azimuth |
dip |
depth (m) |
FROM |
TO |
Width (m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
LA ROMANERA |
LR009 |
646891 |
4172761 |
144 |
204 |
-57 |
624.8 |
560.7 |
567.4 |
6.7 |
0.3 |
1.4 |
4.2 |
0.84 |
102.4 |
incl. |
|
|
|
|
|
|
566.2 |
567.4 |
1.2 |
0.2 |
3.8 |
6.3 |
2.54 |
150.8 |
LR009 |
|
|
|
|
|
|
581.3 |
597.8 |
16.5 |
0.2 |
3.1 |
3.6 |
2.29 |
254.7 |
incl. |
|
|
|
|
|
|
581.3 |
584.0 |
2.7 |
0.5 |
5.1 |
0.4 |
6.02 |
776.2 |
incl. |
|
|
|
|
|
|
590.7 |
593.0 |
2.4 |
0.1 |
4.2 |
10.5 |
1.01 |
140.4 |
LR013 |
646748 |
4172458 |
152 |
206 |
-68 |
313.3 |
223.0 |
227.2 |
4.2 |
0.1 |
1.5 |
1.1 |
0.94 |
43.5 |
incl. |
|
|
|
|
|
|
223.9 |
225.2 |
1.3 |
0.1 |
4.1 |
3.3 |
2.72 |
98.0 |
LR013 |
|
|
|
|
|
|
267.0 |
287.6 |
20.6 |
0.9 |
0.5 |
0.8 |
0.53 |
46.9 |
incl. |
|
|
|
|
|
|
268.0 |
270.0 |
2.0 |
0.3 |
2.0 |
2.9 |
2.41 |
125.0 |
incl. |
|
|
|
|
|
|
285.6 |
287.6 |
2.1 |
2.6 |
0.2 |
1.1 |
0.27 |
27.0 |
LR015 |
646414 |
4172539 |
142 |
208 |
-73 |
244.8 |
249.4 |
250.4 |
1.0 |
0.4 |
0.1 |
0.4 |
0.92 |
8.0 |
LR015 |
|
|
|
|
|
|
267.4 |
268.5 |
1.1 |
2.2 |
0.0 |
0.1 |
0.19 |
6.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INFANTA |
IN060 |
653707 |
4171616 |
204 |
172 |
-50 |
166.0 |
96.3 |
97.9 |
1.6 |
1.7 |
3.5 |
7.3 |
0.95 |
71.3 |
IN061 |
654342 |
4171711 |
209 |
172 |
-50 |
237.1 |
120.5 |
122.5 |
2.1 |
0.4 |
1.5 |
2.2 |
0.35 |
40.2 |
IN061 |
|
|
|
|
|
|
191.7 |
196.0 |
4.3 |
0.9 |
1.8 |
5.4 |
0.18 |
55.4 |
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
prospectivity of the Project; the exploration 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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