Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF;
FSE: LLJA) (the “Company” or “Emerita”) is pleased to announce
additional assay results from the 2022 delineation drilling at La
Romanera Deposit at its wholly owned Iberian Belt West project
(“IBW” or the “Project”). The Company continues to have 13 drilling
rigs on site on a 24-hour rotation.
Assay results have been received from 4 drill
holes, LR028, LR024, LR020 and LR018 (Figure 1). All intercepted
significant mineralization except LR018, which intercepted
primarily massive pyrite.
Holes LR028, LR024 and LR020 are aligned along a
similar elevation of approximately 225 meters vertically below
surface and extend across a horizontal distance of approximately
450 meters. Massive sulphide mineralization occurs in both the
Upper and Lower lenses in holes LR024 and LR028 (Figure 1, 2 and
3). Hole LR024 occurs within the zone explored by previous
companies in the 1970s and 1980s, and drillholes LR028 and LR020
are equidistant to the west and east from LR024 and occur outside
the historic drilled zone. This demonstrates massive sulphide
mineralization extends along strike for at least 450 m at this
elevation.
From east to west, the order of the drill holes
presented is:
Drill Hole LR020:Drill hole
LR020 intercepted massive sulphide mineralization only in the Lower
Lens. The Lower Lens was intercepted from 281.7 m and encountered
16.6 m grading 0.3 % Cu; 0.5 % Pb; 0.9 % Zn; 1.2 g/t Au and 58.6
g/t Ag including 2.1 m grading 0.1 % Cu; 0.6 % Pb; 2.5 % Zn; 2.4
g/t Au and 105.6 g/t Ag. This drill hole represents a step out of
50 m east of LR007 (see Emerita’s news release dated August 4,
2022).
Drill Hole LR024:Drillhole
LR024 intercepted both the Lower and Upper massive sulfide lenses.
The Upper Lens occurs from 285.2 m and intercepted 10.7 m grading
0.9 % Cu; 3.8 % Pb; 6.6 % Zn; 1.2 g/t Au and 129.7 g/t Ag. The
interval between the two lenses is 22.4 m and is characterized by
disseminated sulfide mineralization. The Lower Lens consists of
30.0 m grading 0.5 % Cu; 0.6 % Pb; 0.5 % Zn; 3.0 g/t Au and 67.6
g/t Ag, including 7.5 m grading 0.3 % Cu; 0.9 % Pb; 0.1 % Zn; 7.2
g/t Au and 41.6 g/t Ag.
Drill Hole LR028:Drill hole
LR028 intercepted two lenses of massive sulphides. The Upper Lens
occurs from 299.3 m with 4.4 m grading 0.3 % Cu; 2.0 % Pb; 7.3 %
Zn; 1.1 g/t Au and 94.9 g/t Ag. The Lower Lens occurs 12.1 m below
the Upper Lens and intercepted lower grade massive sulfides
consisting of 2.8 m grading 0.5 % Cu; 0.1 % Pb; 0.1 % Zn; 0.3 g/t
Au and 6.9 g/t Ag.
According to Joaquin Merino, P.Geo., President
of Emerita, “Drilling to date carried out by the Company shows the
existence of two semi-parallel massive sulphide lenses, which
appear to merge to the west, and importantly appear to continue at
depth below the present drilling. The strike extent also remains to
be fully tested. At depth below approximately 500 m below surface
both lenses remain open for further expansion potential with
additional drilling.”
Figure 1: Location map for drill holes
LR018, LR020, LR024 and
LR028.https://www.globenewswire.com/NewsRoom/AttachmentNg/77499eca-2a0b-4be9-bbdb-de60b5e1df18
Figure 2: Vertical Longitudinal section
of the Upper Lens at La Romanera Deposit. The dotted
outline shows the approximate area included within the historical
34 million tonnes mineral resource estimate. Drill intercepts shown
are from Emerita’s drill campaign and not the historical drill
holes.https://www.globenewswire.com/NewsRoom/AttachmentNg/c2205115-4175-4b30-9433-c5503c819925
Figure 3: Vertical Longitudinal section
of the Lower Lens at La Romanera Deposit. The dotted
outline shows the approximate area included within the historical
34 million tonnes mineral resource estimate. Drill intercepts shown
are from Emerita’s drill campaign and not the historical drill
holes.https://www.globenewswire.com/NewsRoom/AttachmentNg/2625656f-44b8-48ca-8cbf-da48a66b5db9
Table 1. Diamond drillhole data: La
Romanera.
DDH |
Easting |
Northing |
Elevation |
azimuth |
dip |
depth (m) |
FROM |
TO |
Width (m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
LENS |
LR018 |
646811 |
4172660 |
152 |
174 |
-57 |
494.0 |
462.3 |
462.9 |
No significant intercepts |
UL |
LR018 |
|
|
|
|
|
|
481.0 |
483.6 |
No significant intercepts |
LL |
LR020 |
646845 |
4172507 |
154 |
181 |
-60 |
354.1 |
281.7 |
298.2 |
16.6 |
0.3 |
0.5 |
0.9 |
1.24 |
58.6 |
LL |
incl. |
|
|
|
|
|
|
286.5 |
288.6 |
2.1 |
0.1 |
0.6 |
2.5 |
2.40 |
105.6 |
LL |
LR024 |
646660 |
4172585 |
152 |
182 |
-52 |
369.5 |
285.2 |
295.8 |
10.7 |
0.9 |
3.8 |
6.6 |
1.21 |
129.7 |
UL |
LR024 |
|
|
|
|
|
|
318.2 |
348.2 |
30.0 |
0.5 |
0.6 |
0.5 |
3.03 |
67.6 |
LL |
incl. |
|
|
|
|
|
|
319.8 |
327.3 |
7.5 |
0.3 |
0.9 |
0.1 |
7.24 |
41.6 |
LL |
LR028 |
646533 |
4172600 |
144 |
202 |
-57 |
341.4 |
299.3 |
303.7 |
4.4 |
0.3 |
2.0 |
7.3 |
1.06 |
94.9 |
UL |
LR028 |
|
|
|
|
|
|
315.8 |
318.6 |
2.8 |
0.5 |
0.1 |
0.1 |
0.32 |
6.9 |
LL |
LL= Lower Lens La Romanera, UL= Upper Lens La
Romanera
Quality Assurance/Quality
Control
Drilling at La Romanera is HQ size and core is
placed into core trays at the drill site and transported directly
from the site to Emerita’s coreshack (15Km) from Romanera and (8Km)
from Infanta. Once the cores are received at Emerita's coreshack
they are photographed and geotechnical logging is performed.
Geological, mineralogical and structural logging follows and
mineralized zones are identified. The samples are marked every 1m
or less, and respecting lithological contacts, with most of the
samples 1.0m long. The zone immediately above and below the
mineralized zones are also sampled. Core samples are sawed in half
and half of the core is returned to the core tray for future
reference. Once the core samples are cut, bagged and tagged, they
are shipped to the ALS laboratory in Seville by Emerita personnel
where sample preparation is done. In Seville, ALS performs the
mechanical preparation of the samples and then the pulps are sent
to ALS Ireland (ICP) and ALS Romania (fire assay). The analysis at
ALS Lab corresponds to the ME-ICPore (19 elements) package,
together with the Au-AA23 fire assay (Gold).
10% of the analyzed samples correspond to
control samples (fine blanks, coarse blanks, high, medium and low
grade standards). In addition, 10% of pulps are reanalyzed at a
second independent certified laboratory (AGQ Lab Sevilla). When the
analysis is completed, the certificates are received from the
laboratory and the QA/QC protocol identifies any deviation or
anomaly in the results and the entire batch is reassayed in such
case. Once the data is approved by the QA/QC protocol assays are
entered digitally directly into the database.
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.
A qualified person, as defined in National
Instrument 43-101, has not done sufficient work on behalf of
Emerita to classify the historical estimate reported above as
current mineral resources or mineral reserves and Emerita is not
treating the historical estimate as current mineral resources or
mineral reserves. The historical estimate 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)
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 Company’s
ongoing drill program and exploration efforts; 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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