Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF)
(the “Company” or “Emerita”) is pleased to announce additional
assay results from the ongoing delineation drilling of the Romanera
deposit at its wholly-owned Iberian Belt West (IBW) project (“IBW”
or the “Project”).
Joaquin Merino, P.Geo., President of Emerita,
comments, “We continue to see significantly higher gold and silver
values than were reported in the historical work. Areas that were
not assayed for gold previously and were not included in the
historical resource estimate are showing values of 2-7 g/t gold
which potentially can add significantly to the resource even within
the footprint of the historical drilling. The historical estimate
was based on a simple lead+zinc cut off grade. In addition, we are
observing that the Upper Lens of massive sulphide appears to be
more extensive than the historical drilling indicated.”
La Romanera:
Assays have been received for three additional
drill holes at La Romanera (Figure 1). Two drill holes are from the
central part of the deposit LR080, LR010) and hole LR011.
Highlights include the following:
• Hole
LR008: 19.4 meters grading 0.4% copper, 4.6%
lead, 5.1% zinc, 2.3 g/t gold and 204.6 g/t silver from 282.6
meters depth (including 4.0 meters grading 0.4% copper, 10.2% lead,
13.2% zinc, 3.6 g/t gold and 267.0 g/t silver).
• Hole LR010: 13.8 meters grading 0.4%
copper, 1.0% lead, 1.9% zinc, 2.3 g/t gold and 39.4 g/t silver from
296.9 meters (including 2.7 meters grading 0.4% copper, 2.8% lead,
6.6% zinc, 7.4 g/t gold and 57.3 g/t silver)
The current results correspond to drillholes
LR008, LR010 and LR011, which have intercepted the central zone and
the western zone of the La Romanera deposit previously known from
historical information.
Drill holes LR008 and LR010 are located in the
central part of the La Romanera deposit, and intercepted
mineralization at approximately 300 and 250 meters below surface
and 70 meters apart. These drill holes confirm the continuity of
mineralization through the central part of the deposit and cover
the area between drill holes LR004 and LR001 (Please see the
Company’s news release dated July 7, 2022). The Upper and Lower
lenses were intercepted by both drill holes, confirming the
continuity of the lenses and the enhanced precious metals grades
relative to the historical assays.
Drill Hole LR008:The hole
encountered two lenses: Upper Lens occurs from 282.6 meters with
19.4 meters grading 0.4% copper, 4.6% lead, 5.1% zinc, 2.3 g/t gold
and 204.6 g/t silver (including 4.0 m grading 0.4% copper, 10.2%
lead, 13.2% zinc, 3.6 g/t gold and 267.0 g/t silver). The Lower
Lens was intercepted 37.8 m below the Upper Lens and encountered
18.8 m grading 1.4% copper, 0.6% lead, 1.2% zinc, 0.96 g/t gold and
20.4 g/t silver (including 4.0 meters grading 3.2% copper, 0.9%
lead, 2.4% zinc, 1.09 g/t gold and 36.3 g/t silver).
Drill Hole LR010:Drill hole
LR010 was drilled to target 50 m to west and 50 m above LR008. It
intercepted the two massive sulphide lenses. The Upper Lens occurs
from 275.7 with 7.4 meters grading 0.5% copper, 0.7% lead, 0.9%
zinc, 1.3 g/t gold and 47.5 g/t silver (including 2.0 meters
grading 0.5% copper, 1.5% lead, 2.3 % zinc, 1.8 g/t gold and 91.5
g/t silver). The Lower Lens was intercepted 13.8 meters below the
Upper Lens and encountered 13.5 meters grading 0.4% copper, 0.8%
lead, 1.2% zinc, 0.7 g/t gold and 45.8 g/t silver (including 3.0
meters grading 0.4% copper, 1.7% lead, 3.4% zinc, 1.7 g/t gold and
127.3 g/t silver).
In the west end of the deposit (section 350E),
drill hole LR011 intercepted both lenses, which represents an
excellent discovery in relation to the existing historical
information, since, in that zone, only the Lower Lens had been
reported by historical holes. In addition to the presence of the 2
mineralized lenses, the thickness of the historical interval has
been exceeded.
Drill Hole LR011:Hole LR011 was
drilled at the western extent of the deposit on section 350 east
200 meters west of LR008 (Figure 1). LR011 intercepted two massive
sulphide lenses which is an important development as only the lower
massive sulphide lens is identified in this area in the historical
drill data. The Upper Lens starts from 150.2 meters and consists of
13.8 meters grading 0.4% copper, 1.0% lead, 1.9% zinc, 2.3 g/t gold
and 39.4 g/t silver (including 2.7 meters grading 0.4% copper, 2.8%
lead, 6.6% zinc, 7.4 g/t gold and 57.3 g/t silver. There are no
records of the Upper Lens in the historical data.
The Lower Lens occurs from 179.7 meters with
11.4 meters grading 0.3% copper, 1.6% lead, 0.4% zinc, 3.4 g/t gold
and 177.5 g/t silver (including 1.9 meters grading 1.0% copper, 3.1
% lead, 0.6% zinc, 5.4 g/t gold and 353.5 g/t silver).
The true thickness of the intercepts is
estimated at 85-90% of the core length.
Figure 1: Location map showing drill
holes 008, 010 and 011 of the La Romanera Deposit. Hole
LR011 is the westernmost hole drilled by the Company to date and is
located 200 meters west LR008. LR011 intersected both the upper and
lower massive sulphide lenses in an area where only a single lens
is referenced in the historical drilling.
https://www.globenewswire.com/NewsRoom/AttachmentNg/21dff0af-2341-42a1-8d4a-3290a47e2957
Table 1: Diamond drill hole data
DDH |
Easting |
Northing |
Elevation |
azimuth |
dip |
depth (m) |
FROM |
TO |
Width (m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
LENS |
LR008 |
646591 |
4172586 |
147 |
190 |
-62 |
368.1 |
282.6 |
301.9 |
19.4 |
0.4 |
4.6 |
5.1 |
2.30 |
204.6 |
UL |
incl. |
|
|
|
|
|
|
295.1 |
299.1 |
4.0 |
0.4 |
10.2 |
13.2 |
3.63 |
267.0 |
UL |
LR008 |
|
|
|
|
|
|
336.9 |
355.7 |
18.8 |
1.4 |
0.6 |
1.2 |
0.96 |
20.4 |
LL |
incl. |
|
|
|
|
|
|
339.9 |
343.9 |
4.0 |
3.2 |
0.9 |
2.4 |
1.09 |
36.3 |
LL |
LR010 |
646590 |
4172585 |
147 |
205 |
-55 |
346.2 |
275.7 |
283.2 |
7.4 |
0.5 |
0.7 |
0.9 |
1.29 |
47.5 |
UL |
incl. |
|
|
|
|
|
|
279.7 |
281.7 |
2.0 |
0.5 |
1.5 |
2.3 |
1.83 |
91.5 |
UL |
LR010 |
|
|
|
|
|
|
295.5 |
309.0 |
13.5 |
0.4 |
0.8 |
1.2 |
0.69 |
45.8 |
LL |
incl. |
|
|
|
|
|
|
295.5 |
298.5 |
3.0 |
0.4 |
1.7 |
3.4 |
1.68 |
127.3 |
LL |
LR011 |
646412 |
4172535 |
141 |
201 |
-56 |
219.0 |
150.2 |
164.0 |
13.8 |
0.4 |
1.0 |
1.9 |
2.29 |
39.4 |
UL |
incl. |
|
|
|
|
|
|
159.3 |
162.0 |
2.7 |
0.4 |
2.8 |
6.6 |
7.37 |
57.3 |
UL |
LR011 |
|
|
|
|
|
|
179.7 |
191.1 |
11.4 |
0.3 |
1.6 |
0.4 |
3.35 |
177.5 |
LL |
incl. |
|
|
|
|
|
|
188.3 |
190.2 |
1.9 |
1.0 |
3.1 |
0.6 |
5.43 |
353.5 |
LL |
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
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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