CORRECTION -- First Massive Sulphide Intercept From Romanera Deposit Drill Campaign, Increased to Six Diamond Drills on Romanera
June 07 2022 - 9:38AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) announces that it has completed the
first hole through the Romanera deposit at its wholly-owned Iberia
Belt West project (“IBW” or the “Project”). Three other holes will
be completed in the coming days and two additional drill rigs are
setting up on the deposit to bring the total to six drills at
Romanera (Figure 1).
- Hole LR 002
intersected 14.3 meters of massive sulphides (assays pending) from
134.2 to 148.5 meters (Figure 2). Visual inspection of the core
identifies the mineralization as true massive sulphide (Figure 3)
comprising sphalerite, galena and chalcopyrite in a pyrite gangue.
Several intercepts from the historical drilling are included on
Figure 2 for reference. The shallower intercepts were not assayed
for gold by the previous operators.
Figure 1: Plan map showing the location
of first six drill holes at Romanera.
https://www.globenewswire.com/NewsRoom/AttachmentNg/8b216917-839c-425e-8ae0-e02f737d3cd2
Figure 2: Cross section showing the
location of drill hole LR002 along with results from historical
drill holes located close to it. The earlier drill holes by
previous operators were not assayed for gold. Holes LR 001, 003,
004 on this section should be through the target zone in the coming
days.
https://www.globenewswire.com/NewsRoom/AttachmentNg/2e9335f6-6675-4a5a-9a5a-e47fca4258c2
Figure 3: Photo of a section of the
massive sulphide intercept in hole LR002. Visual inspection of the
core identifies the zone as comprising more than 95% sulphide
minerals sphalerite, galena, chalcopyrite with pyrite
gangue.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7fc219d5-6587-4df5-83c5-20a57c1a5acf
The planned program is designed to upgrade the
existing historical resource to be compliant with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects
(“NI 43-101”), and test for expansions to the east, west and at
depth (Figure 4). Several deeper drill holes are also planned below
the drilling illustrated on
Figure 4 and will be laid out when additional
data is available to target the deep drilling effectively. The EM
Conductor associated with the deposit extends more than 500 meters
to the east of the historical drilling and this survey was
instrumental in designing the drill plan.
Figure 4: Planned drill program for the
Romanera Deposit overlain on block model developed from historical
drill hole data base. Existing drilling all occurs within the
mineralized blocks and the deposit is open for expansion to the
east west and at depth. The highest grades are not cut off by
drilling.
https://www.globenewswire.com/NewsRoom/AttachmentNg/00191e32-3cd7-498c-9479-e3e36308b973
According to David Gower, P.Geo., CEO of
Emerita, “The Romanera deposit is the cornerstone of the Iberia
Belt West Project (IBW). The block model is very encouraging in
that the highest grade material indicated by the historical
drilling remains wide open in all directions. There
will be a steady flow of data from this drill campaign now that it
is getting into full production mode.”
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. The drill rigs that have most
recently arrived on the Project are highly mechanized,
high-performance machines that will have an important impact on the
drill productivity.”
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.
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