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 the La Romanera Deposit at its wholly owned Iberian
Belt West project (“IBW” or the “Project”). IBW hosts three
previously identified massive sulphide deposits: La Infanta, La
Romanera and El Cura. All deposits are open for expansion along
strike and at depth. Presently, there are 13 rigs on La Romanera
deposit delineation and 1 rig continues to drill at La Infanta. Six
drilling companies are engaged in the program. The most recent
drill rig is capable of drilling shallower angle drill holes and
will accelerate drilling of some of the thicker, higher base metal
grade sections of the deposit, based on the historical intercepts.
This area of the deposit was not systematically assayed for gold by
previous operators. According to Joaquin Merino, P.Geo., President
of Emerita, “The upper central area of the deposit is expected to
contain a significant proportion of the historical resource, based
on the base metal grades and thickness of the sulphide intervals in
the historical drill holes. We are interested to see what the gold
values are in this section of the deposit. In addition, we expect
to commence drilling the El Cura deposit with two drills after
December 1, 2022 which is after the hunting season in the area. El
Cura is situated between La Romanera and La Infanta deposits.”
Additional assay results for the following six
drillholes are reported as follows: Holes LR025, LR026 and LR033
are located at the western side of the deposit at various
elevations. Holes LR032 and LR006B are in the central part of the
deposit and hole LR030 on the eastern side (Figures 1, 2, 3). Table
1 below provides details of the intercepts and drill hole
locations.
Drillhole LR025 intercepted
only the Lower Lens mineralization from 184.2 m and encountered
11.2 m of massive sulphide mineralization grading 0.4 % Cu; 1.5 %
Pb; 4.2 % Zn; 0.8 g/t Au and 60.8 g/t Ag, including 2.8 m grading
0.3 % Cu; 3.8 % Pb; 12.2 % Zn; 1.72 g/t Au and 131.9 g/t Ag.
Drillhole LR026 intercepted
massive sulphide in the Upper Lens over 16.9m which in this hole
comprises mostly pyrite with no significant values of base or
precious metals. The Lower Lens occurs 19.5m below the Upper Lens
and consists in 16.3 m grading 0.4 % Cu; 0.2 % Pb; 0.4 % Zn; 0.7
g/t Au and 16.0 g/t Ag, including 2.8 m grading 0.6 % Cu; 0.2 % Pb;
0.0 % Zn; 2.0 g/t Au and 38.6 g/t Ag.
Drillhole LR033 was drilled
into the central-west part of the deposit and intercepted the two
lenses of massive sulphides. The Upper Lens occurs from 326.2 m and
has 1.9 m grading 0.5 % Cu; 1.5 % Pb; 1.3 % Zn; 1.2 g/t Au and 83.8
g/t Ag. The interval between the Upper and Lower Lenses is 20.1 m.
The Lower Lens consists of 1.2 m of low-grade massive
sulphides.
Drillhole LR032 targeted a zone
250 m below surface in the central part of the deposit. It
encountered two lenses of massive sulphides. The Upper Lens occurs
from 328.3 m and comprises 4.6 m grading 1.5 % Cu; 0.1 % Pb; 0.0 %
Zn; 0.5 g/t Au and 39.1 g/t Ag. The interval between the two lenses
is 27.4 m. The Lower Lens consists of 7.5 m grading 0.2 % Cu; 0.7 %
Pb; 1.0 % Zn; 1.8 g/t Au and 43.8 g/t Ag, including 2.9 m grading
0.3 % Cu; 0.8 % Pb; 0.9 % Zn; 3.51 g/t Au and 65.9 g/t Ag.
Drillhole LR006B intercepted
the Upper Lens from 472.7 m where it is only 0.5 m thick grading
0.4 % Cu; 1.4 % Pb; 2.2 % Zn; 1.3 g/t Au and 92.0 g/t Ag. The Lower
Lens was intercepted 5.5m below and is also characterized by
massive sulphide mineralization. The Lower Lens intercept consists
of 40.7 m grading 0.3 % Cu; 0.7 % Pb; 0.5 % Zn; 1.6 g/t Au and 32.3
g/t Ag, including 4.8 m grading 0.2 % Cu; 1.3 % Pb; 1.8 % Zn; 4.2
g/t Au and 64.2 g/t Ag with a second high grade gold interval of
3.0 m grading 0.4 % Cu; 0.4 % Pb; 0.3 % Zn; 6.54 g/t Au and 47.8
g/t Ag. Drill hole LR006B shows that excellent gold grades continue
to be present at this elevation, approximately 400 m below
surface.
Drillhole LR030 intercepted
mineralization at 300 m below surface in the eastern side of the
deposit. It encountered the Upper and Lower massive sulphide
lenses. The Upper Lens occurs from 325.4 m down the hole and
comprises 5.3 m grading 0.1 % Cu; 0.6 % Pb; 10.2 % Zn; 0.4 g/t Au
and 54.5 g/t Ag. The interval between the lenses is 26.1 m. The
Lower Lens intercept consists of 6.3 m grading 1.1 % Cu; 0.4 % Pb;
0.7 % Zn; 1.1 g/t Au and 21.4 g/t Ag. Hole LR030 is located
approximately 100 m east of the historical Upper Lens drilling and
appears to mark a significant extension of the Upper Lens massive
sulfides to the east in this area. Copper and gold grades are
significant in the Lower Lens in this hole.
As with many of the Volcanic Massive Sulphide
deposits in the Iberian Pyrite Belt, metallic zonation is a common
occurrence. This appears to be the case at the La Romanera deposit,
based on Emerita’s drill results to date. There are zones rich in
gold, sometimes with elevated copper, and other areas rich in
base metals, mainly zinc and lead. Elevated gold and silver values
occur within portions of both the Upper and Lower Lenses and in all
areas of the deposit drilled to date, which is a significant new
development. Drilling is commencing that will test a large area of
the shallower and central portion of the Lower Lens (Figure 3)
which accounts for a significant proportion of the historical
resource. Numerous thick intercepts are reported in the historical
data for this area and the precious metal content was not
systematically evaluated.
Figure 1: Location map, La Romanera
Deposit drill holes LR006B, LR025, LR026, LR030, LR032 and
LRO33.https://www.globenewswire.com/NewsRoom/AttachmentNg/895625c9-8f96-4e1b-8bd8-f8eecd0ba987
Figure 2: Longitudinal section showing
intercepts in the Upper Lens, La Romanera
Deposit.https://www.globenewswire.com/NewsRoom/AttachmentNg/ffd31d22-94e9-480f-9878-c16e379c1a08
Figure 3: Longitudinal section showing
intercepts in the Lower Lens, La Romanera Deposit. Note the area in
the red oval that hosts significant portions of the historical
resource referred to in the text
above.https://www.globenewswire.com/NewsRoom/AttachmentNg/d2247a63-2866-4998-a1c7-d89f8f1591f6
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DDH |
Easting |
Northing |
Elevation |
azimuth |
dip |
depth(m) |
FROM |
TO |
Width(m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
LENS |
LR006B |
646716 |
4172736 |
146 |
209 |
-55 |
537.3 |
478.7 |
519.4 |
40.7 |
0.3 |
0.7 |
0.5 |
1.64 |
32.3 |
LL |
incl. |
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497.8 |
502.5 |
4.8 |
0.2 |
1.3 |
1.8 |
4.23 |
64.2 |
LL |
incl. |
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516.4 |
519.4 |
3.0 |
0.4 |
0.4 |
0.3 |
6.54 |
47.8 |
LL |
LR025 |
646414 |
4172539 |
142 |
177 |
-56 |
207.5 |
184.2 |
195.4 |
11.2 |
0.4 |
1.5 |
4.2 |
0.79 |
60.8 |
LL |
incl. |
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184.2 |
187.0 |
2.8 |
0.3 |
3.8 |
12.2 |
1.72 |
131.9 |
LL |
LR026 |
646597 |
4172725 |
144 |
197 |
-56 |
489.8 |
456.9 |
473.2 |
16.3 |
0.4 |
0.2 |
0.4 |
0.65 |
16.0 |
LL |
incl. |
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456.9 |
459.7 |
2.8 |
0.6 |
0.2 |
0.0 |
1.97 |
38.6 |
LL |
LR030 |
646845 |
4172660 |
154 |
181 |
-65 |
384.5 |
325.4 |
330.7 |
5.3 |
0.1 |
0.6 |
10.2 |
0.44 |
54.5 |
UL |
LR030 |
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356.8 |
363.1 |
6.3 |
1.1 |
0.4 |
0.7 |
1.13 |
21.4 |
LL |
LR032 |
646660 |
4172585 |
152 |
182 |
-58 |
391.1 |
360.3 |
367.9 |
7.5 |
0.2 |
0.7 |
1.0 |
1.82 |
43.8 |
LL |
incl. |
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361.2 |
364.1 |
2.9 |
0.3 |
0.8 |
0.9 |
3.51 |
65.9 |
LL |
LR033 |
646533 |
4172600 |
144 |
204 |
-64 |
359.7 |
326.2 |
328.8 |
2.6 |
0.4 |
1.2 |
1.0 |
0.97 |
65.7 |
UL |
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Table 1. Diamond drillhole data: La
Romanera. |
NB= LL= Lower Lens La Romanera, UL= Upper
Lens La Romanera |
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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.
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 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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