Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA)
(the “Company” or “Emerita”) is pleased to announce additional
assay results from the ongoing drilling program at La Romanera
deposit, part of Emerita’s 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.
Results contained in this release are from La Romanera. All
deposits are open for expansion.
The Company presently has 4 diamond drills
operating at La Romanera and one drill that is on the first hole at
the Nuevo Tintillo project - located approximately 85 km to the
east of IBW. Metallurgical work for the IBW project is in progress
at the Wardle Armstrong metallurgical test facility in the United
Kingdom. This test work is expected to conclude near the end of
November 2023. Four samples are currently being evaluated, three
from La Romanera and one from La Infanta.
Assays have been received for diamond drill
holes LR156 and LR157 (see Table 1 and Figure 1). These two holes
have been surveyed using downhole electromagnetic surveying (DHEM)
which has indicated that mineralization continues below both drill
holes down plunge to the west, confirming the deposit extends
further at depth. Drill hole LR159 has intercepted approximately 44
meters of massive sulphides and assays are pending for this
intercept (Figure 2).
According to Joaquin Merino, P.Geo., President
of Emerita, “We continue to see a very thick massive sulphide zone
at La Romanera where drilling is expanding the deposit beyond the
recently announced mineral resource estimate at IBW. Given these
are some of the thickest massive sulphides we have seen to date at
La Romanera, in addition to the DHEM indicating continuity to
depth, we are optimistic there continues to be significant room to
expand this deposit.”
Drill hole LR156 intersected
24.2 meters grading 0.5% Cu; 0.8% Pb; 1.9% Zn, 1.07 g/t Au and 38.1
g/t Ag, including 5.0 meters grading 0.4% Cu; 2.8% Pb; 6.6% Zn,
1.47 g/t Au and 75.4 g/t Ag. True thickness is approximately 75 –
80 %.
Drill hole LR157 intersected
51.6 meters grading 0.5% Cu; 1.1% Pb; 1.5% Zn, 0.46 g/t Au and 26.1
g/t Ag, including 6.0 meters grading 0.2% Cu; 1.6% Pb; 5.5% Zn,
0.98 g/t Au and 58.8 g/t Ag and 5.6 meters grading 0.4% Cu; 1.8%
Pb; 2.1% Zn, 0.89 g/t Au and 38.5 g/t Ag. True thickness is
approximately 75 – 80 %.
Table 1: Significant intercepts of holes LR156 and
LR157, La Romanera deposit
DDH |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Depth (m) |
FROM |
TO |
Width(m) |
Cu % |
Pb % |
Zn % |
Au g/t |
Ag g/t |
Lens |
LR156 |
646597 |
4172725 |
144 |
223 |
-75 |
692.4 |
643.0 |
667.2 |
24.2 |
0.5 |
0.8 |
1.9 |
1.07 |
38.1 |
LL |
incl. |
|
|
|
|
|
|
659.3 |
664.3 |
5.0 |
0.4 |
2.8 |
6.6 |
1.47 |
75.4 |
LL |
LR157 |
646716 |
4172736 |
146 |
230 |
-72 |
721.7 |
649.8 |
701.4 |
51.6 |
0.5 |
1.1 |
1.5 |
0.46 |
26.1 |
LL |
incl. |
|
|
|
|
|
|
652.4 |
658.4 |
6.0 |
0.2 |
1.6 |
5.5 |
0.98 |
58.8 |
LL |
incl. |
|
|
|
|
|
|
677.8 |
683.4 |
5.6 |
0.4 |
1.8 |
2.1 |
0.89 |
38.5 |
LL |
Figure 1: Location and trace of drill
holes LR156 and LR157
View Figure 1
here: https://www.globenewswire.com/NewsRoom/AttachmentNg/c3a1efc2-cef8-4126-942d-bf35d68b9635
Drill holes LR156 and LR157 assay results
indicate continuity of massive sulphides from the outcrop to nearly
700 meters below surface, along with a pronounced thickening of the
sulphide mineralization in the deepest levels that remain open for
further testing.
Figure 2: La Romanera Vertical Longitudinal Section
(lower lens, looking north) showing the location
of intercepts and drill holes in progress. Grade contouring (in
zinc equivalent values) is based on the Mineral Resource Estimate
released on May 23, 2023.
View Figure 2
here: https://www.globenewswire.com/NewsRoom/AttachmentNg/e53a0153-84c4-4cb3-a9dd-8484e77a3b0d
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 La Romanera. 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
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.
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:
Ian Parkinson+1 647 910-2500
(Toronto)info@emeritaresources.comwww.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, statements regarding the prospectivity of the IBW
project, the mineralization and the IBW project, the economic
viability of the IBW project, the timing and results of
metallurgical studies, the Company’s future exploration plans 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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