Emerita Resources Files Supporting Documentation For Exploitation Licence For The IBW Project
December 04 2023 - 7:00AM
Emerita Resources Corp. (“
Emerita” or the
“
Company”) (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA)
announces that through its wholly-owned Spanish subsidiary, Emerita
Resources España S.L.U., it has submitted all the required
documentation (the “
Supporting Documentation”) to
support its application to the “Delegación Territorial de Energía y
Minas in Huelva province, Junta de Andalucia” for an exploitation
licence (the “
Exploitation Licence”) for Emerita’s
wholly-owned Iberian Belt West project (“
IBW” or
the “
Project”). Please see the Company’s September
12, 2023 press release for further details regarding the Company’s
application for the Exploitation Licence.
The Supporting Documentation includes all (i)
technical aspects for mining and processing at the IBW Project, as
well as associated infrastructure, equipment and tailings storage
facilities in order to build and operate a mine; and (ii) a
restoration plan. Although the Exploitation Licence application and
Supporting Documentation is thorough with all technical aspects of
the Project necessary to receive the appropriate approvals from the
Spanish authorities, it has not been prepared in compliance with
National Instrument 43-101 (“NI 43-101”) and,
consequently, economics for the Project cannot be disclosed at this
time. The Supporting Documentation, including the environmental
parameters, basic engineering, along with a revised mineral
resource estimate incorporating new drill results, will comprise
the basis for a NI 43-101 compliant economic study in the first
half of 2024.
The Exploitation Licence in Spain, when granted,
has a 30-year term and can be extended for two subsequent 30-year
periods.
According to Joaquin Merino, P.Geo., President
of Emerita, “The submission of this detailed documentation in
support of the Exploitation Licence application marks an important
milestone for Emerita. We are moving from a purely exploration
focused endeavor to a development company with an asset that merits
proceeding with detailed engineering studies and demonstrates our
intention to commit to a very long term investment in Huelva
Province. We are very excited to take the IBW Project to the next
phase in its development. We have had several very productive
meetings with senior Government officials in Huelva Province, and
are highly encouraged by the support and advice they have
imparted.”
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.com
www.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 Exploitation Licence, the
Supporting Documentation, the Company’s ability to obtain the
Exploitation Licence, the mineralization and prospectivity of the
Project, the Company’s exploration and exploitation plans,
permitting for the Project, the commercial viability of the Project
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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