Drilling Commencing with 4 rigs at Romanera Deposit, 5.5 m grading 1.2% Copper, 5.9% Zinc, 3.3% Lead, 93.9 g/t Silver and 0.41 g/t Gold at Infanta Deposit
April 22 2022 - 7:00AM
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 now
completed the 15 day period required to complete the permitting
process. There were no further submissions during that period and
the process now will conclude with the issuing of the permit. The
Company is immediately mobilizing four diamond drills to the
Romanera deposit to accelerate the delineation program there. There
are a total of eight drills on the Project and the other four will
be split between the El Cura deposit and the Infanta deposit areas.
According to David Gower, P.Geo., CEO of
Emerita, “The Romanera deposit is the cornerstone of the Iberia
Belt West Project (IBW). Based on the historical work, it is more
than 10X the size of any of the deposits known on the Project to
date and has the potential to support a feasibility as a
stand-alone operation in the future. The historical drill hole data
base comprising 51 drill holes, and the historical resource
estimate by the previous operator provide a high level of
confidence in the upcoming drill program. Further, the deposit
remains open along strike and down dip (Please see the Company’s
news release dated April 5, 2022 for further details). The deposit
outcrops at surface so we expect to see a lot of drill intercepts
quickly as the initial phase of the program will comprise
relatively shallow drill holes.”
According to Joaquin Merino, P. Geo, President
of Emerita, “Our team is very excited to see the commencement of
this most important phase of the Project. Of particular note, the
deposit is open at depth below 350 meters. It also remains open
along strike. Historical drilling by Rio Tinto and Asturiana de
Zinc 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). There is excellent potential to achieve a
significant expansion of the deposit to the east and at depth.”
Figure 1: Romanera Area 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/262abfad-fa49-4e94-a824-e18714535c5f
Infanta Area Drilling
The Company has received assay results for 10
additional drill holes on the Infanta Deposit, see Table 1 below
for complete results. Highlights are as follows.
- Hole IN035 returned 5.5 m grading
1.2% Cu, 3.3% Pb, 5.9% Zn 0.41 g/t Au and 93.9 g/t Ag. It is
located in the South Block of the Infanta Deposit. The South Block
extends 100 to 125m vertically by 600 m along strike and remains
open toward the west. It further confirms high grades in that
area of the deposit and will provide material for future
metallurgical work.
- All the holes in the North block of
the Infanta deposit have intersected sulphide mineralization. The
North Block extends from 50m depth to more than 300 meters vertical
depth, and has a strike length of 1100m and remains open toward the
west. The thickness varies between 0.8m and 3.0m.
- Hole IN041 located at about 300m
below the surface and in the western most section intersected 3.0m
grading 0.7% Cu, 2.7% Pb, 5.6% Zn, 28.3 g/t Ag. On the eastern
edge, Hole IN038 at 125m below surface intersected 1.5M grading
1.2% Cu, 4.5% Pb, 7.1% Zn, 0.44 g/t Au, 145.3 g/t Ag.
- In the center of the North Block at 250 m below surface, IN040
intersected 1.5m grading 0.1% Cu, 6.4% Pb, 9.4% Zn, 25.0 g/t Ag.
Closer to surface, hole IN043 intersected 1.4m grading 2.6% Cu,
11.7% Pb, 21.6% Zn, 0.16 g/t Au, 304.4 g/t Ag.
The massive sulphide horizon in the North Block
at the Infanta deposit is very extensive and the mineralization
continues at depth and to the west. To the west, sulphide
mineralization has also been discovered at surface that may
represent a potential extension for an additional 1.0 Km. Drilling
is very widely spaced with more than 250 meters between some drill
sections. Although there is good grade mineralization in many of
the intercepts, they are narrower than in the South Block. The
Company is reviewing geophysical techniques and contemplating more
detailed surveying over the North Block mineralized horizon to
identify areas where the massive sulfide horizon may thicken at
depth or along strike. The priority will shift to the Romanera and
El Cura deposits while this work is being completed. Work to date
has been successful in significantly expanding Infanta beyond the
historical limits and a resource estimate is expected to be
calculated along with the other deposits later this year.
Figure 2: Location map showing the Infanta drill holes.
The blue coloured lines represent EM conductors from the
geophysical
survey.https://www.globenewswire.com/NewsRoom/AttachmentNg/46232b8f-c1b6-4f9c-bba6-6df7d158333a
Figure 3: Longitudinal section showing the North Block
drill intercepts. The zone extends 1,100 meters from east to west
and remains open. Drilling comprises very wide spaced step outs on
the west side and to the east. The Company is reviewing geophysical
techniques to identify areas of thicker mineralization along strike
in the gaps or at depth in order to make the program more
efficient.https://www.globenewswire.com/NewsRoom/AttachmentNg/88c9809f-2ef9-4dbb-94ba-2639214c91ef
Figure 4: Longitudinal section showing South Block
intercept.https://www.globenewswire.com/NewsRoom/AttachmentNg/abf1c04c-a45e-4f17-96f8-28a16f400324
Table 1: Drill hole data (NB = North Block, SB = South
Block). True width is expected to be +90% of core
width
DDH |
Easting |
Northing |
azimuth |
dip |
FROM |
TO |
Width (m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
BLOCK |
IN032 |
653928.19 |
4171702.98 |
170 |
-63 |
257.8 |
259.8 |
2.0 |
1.0 |
4.0 |
5.6 |
0.61 |
150.0 |
NB |
IN033 |
654281.98 |
4171693.15 |
174 |
-52 |
197.1 |
200.1 |
3.0 |
0.2 |
1.1 |
3.0 |
0.17 |
14.3 |
NB |
IN034 |
653477.65 |
4171682.68 |
172 |
-50 |
193.5 |
195.5 |
2.1 |
0.3 |
1.2 |
1.4 |
1.09 |
161.6 |
NB |
IN035 |
653856.31 |
4171575.60 |
205 |
-65 |
71.9 |
77.4 |
5.5 |
1.2 |
3.3 |
5.9 |
0.41 |
93.9 |
SB |
IN036 |
654179.95 |
4171703.68 |
177 |
-49 |
180.6 |
181.4 |
0.8 |
1.0 |
0.6 |
0.3 |
3.05 |
18.0 |
NB |
IN037 |
654085.00 |
4171685.00 |
171 |
-52 |
162.5 |
164.5 |
2.0 |
1.3 |
0.1 |
0.2 |
0.14 |
239.5 |
NB |
IN038 |
654585.00 |
4171725.00 |
172 |
-46 |
104.3 |
105.8 |
1.5 |
1.2 |
4.5 |
7.1 |
0.44 |
145.3 |
NB |
IN040 |
654030.00 |
4171730.00 |
173 |
-66 |
309.7 |
311.2 |
1.5 |
0.1 |
6.4 |
9.4 |
0.09 |
25.0 |
NB |
IN041 |
653451.00 |
4171871.00 |
179 |
-46 |
405.9 |
408.9 |
3.0 |
0.7 |
2.7 |
5.6 |
0.04 |
28.3 |
NB |
IN043 |
653760.00 |
4171640.00 |
175 |
-48 |
120.6 |
121.9 |
1.4 |
2.6 |
11.7 |
21.6 |
0.16 |
304.4 |
NB |
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 Project, the prospectivity of the 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 Mar 2024 to Apr 2024
Emerita Resources (TSXV:EMO)
Historical Stock Chart
From Apr 2023 to Apr 2024