Emerita Intersects 2.77 g/t Gold, 65.9 g/t Silver 8.2% Zinc, 3.2% Lead 0.5% Copper Over 24.3 Meters at the Romanera Deposit
July 07 2022 - 7:00AM
Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) announces assay results for three
additional drill holes LR001, 003, 004 at the Romanera deposit at
Emerita’s wholly-owned Iberia Belt West Project (“IBW” or the
“Project”). Drill holes LR001, LR003 and LR004 reported below, are
located along section 646500E in the center of the deposit, down
dip from previously reported drill hole LR002 (released June
23,2022) (Figure 1, 2 and Table 1). The results show positive
correlation with historical drilling with respect to intercept
location and width, however with gold and silver grades higher than
previously indicated. The drilling so far has confirmed two
continuous parallel massive sulphide lenses for 400m down
dip. Assays for the three additional drill holes are
reported as follows:
LR003:
- LR003 intercepted mineralization
50m below Hole LR002. The upper lens occurs from 126.1m with 13.4m
grading 0.3% copper, 1.8% lead, 3.5% zinc, 1.68 g/t gold, 89.8 g/t
silver (including 5.0m grading 0.3% Copper, 2.2% lead, 5.1% zinc,
2.64 g/t gold, 86.6 g/t silver). The lower lens was intersected
48.7m below the upper lens and encountered 39.9m grading 0.5%
copper, 3.0% lead, 6.2% zinc, 2.13 g/t gold, 83.1 g/t silver (incl.
4.3m grading 0.3% copper, 1.2% lead, 1.2% zinc, 4.0 g/t gold, 126.9
g/t silver).
LR004:
- LR004 intercepted mineralization
approximately 25m below Hole LR003. The upper lens occurs from
244m, intercepted 11.0m grading 0.4% copper, 1.6% lead, 4.5% zinc,
2.19 g/t gold, 42.0 g/t silver (incl. 2.6m grading 0.2% copper,
4.1% lead, 8.9% zinc, 4.32 g/t gold, 70.4 g/t silver). The lower
lens which occurs from 280.5m included 24.3m grading 0.5% copper,
3.2% lead, 8.2% zinc, 2.77 g/t gold, 65.9 g/t silver (incl. 6.0m
grading 0.6% copper, 3.6% lead, 11.5% zinc, 2.46 g/t gold, 59.3 g/t
silver).
LR001:
- LR001 is the deepest hole completed
to date at 530m. It intercepted 49.6m of continuous stockwork
sulphide mineralization. The interval grades 0.3% copper, 0.4%
lead, 0.3% zinc, 0.6 g/t gold and 41.8 g/t silver with higher
grades at the upper and lower contacts of the zone. It is common to
see grade variation within VMS deposits of the Iberian Pyrite
belt.
According to David Gower, P.Geo, CEO of Emerita,
“We continue to see strong results from the drilling at the
Romanera deposit. All holes completed to date are on a single
section and confirm the base metal contents of the historical
drilling but with stronger precious metal values. As the drill
results are received on adjacent sections, we expect to see the
distribution of the higher-grade mineralization and the structural
trends controlling grade to be defined.”
Joaquin Merino, P.Geo, President of Emerita
notes, “We are excited by the results to date. Already there are
three additional intercepts in the lab and five other drill holes
in progress.”
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 drill holes LR001, 3, 4 and holes in progress at
Romanera.
https://www.globenewswire.com/NewsRoom/AttachmentNg/6d60b57a-2580-4ad2-9e93-9f6569006662
Figure 2: Cross section showing the
location of drill hole LR001-4.
https://www.globenewswire.com/NewsRoom/AttachmentNg/1c868fc6-8c06-47a7-92cf-19c92dc3ef73
DDH |
Easting |
Northing |
Elevation |
azimuth |
dip |
depth(m) |
FROM |
TO |
Width(m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
LR001 |
646716 |
4172736 |
146 |
214.38 |
-40.77 |
530.6 |
452.7 |
461.0 |
8.3 |
0.3 |
0.9 |
0.2 |
0.54 |
140.7 |
LR001 |
|
|
|
|
|
|
493.8 |
502.3 |
8.6 |
0.3 |
0.7 |
1.2 |
1.11 |
43.1 |
LR003 |
646567 |
4172435 |
146 |
183.69 |
-70.43 |
231.7 |
126.1 |
139.5 |
13.4 |
0.3 |
1.8 |
3.5 |
1.68 |
89.8 |
incl. |
|
|
|
|
|
|
129.2 |
134.2 |
5.0 |
0.3 |
2.2 |
5.1 |
2.64 |
86.6 |
LR003 |
|
|
|
|
|
|
174.8 |
214.7 |
39.9 |
0.5 |
3.0 |
6.2 |
2.13 |
83.1 |
incl. |
|
|
|
|
|
|
174.8 |
179.1 |
4.3 |
0.3 |
1.2 |
1.2 |
4.00 |
126.9 |
LR004 |
646593 |
4172590 |
148 |
191.13 |
-38.64 |
351.6 |
244.3 |
255.3 |
11.0 |
0.4 |
1.6 |
4.5 |
2.19 |
42.0 |
incl. |
|
|
|
|
|
|
247.6 |
250.2 |
2.6 |
0.2 |
4.1 |
8.9 |
4.32 |
70.4 |
LR004 |
|
|
|
|
|
|
280.5 |
304.7 |
24.3 |
0.5 |
3.2 |
8.2 |
2.77 |
65.9 |
incl. |
|
|
|
|
|
|
287.9 |
293.9 |
6.0 |
0.6 |
3.6 |
11.5 |
2.46 |
59.3 |
Table 1: Detailed diamond drilling
intercepts.
Qualified PersonThe 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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