Emerita Extends La Romanera Deposit at Depth, Intersects 15.1 Meters Grading 6.6% Zinc, 1.3% Lead, 0.3% Copper in Deepest Intercept on the Deposit to Date
15 September 2022 - 9:00PM
Emerita Resources Corp. (TSX – V: EMO; OTCQB:
EMOTF) (the “Company” or “Emerita”) is pleased to announce
additional assay results from the 2022 exploration drilling at its
La Romanera Deposit on the Iberian Belt West (IBW) 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. The
current results are from 3 drill holes in La Romanera LR012,
LR014 and LR017 (see Figure 1 and Table 1 below). All three
holes intercepted the Upper and Lower lenses. Presently, there are
9 diamond drills delineating the Romanera deposit and one rig
continues to drill the La Infanta deposit.
- Hole LR014
intersected both the upper and lower massive sulphide lenses at
approximately 450 meters vertical depth. This is the deepest drill
intercept by either Emerita or previous operators and demonstrates
the deposit continues to have room to expand below present
drilling. The drill hole intersected 15.1 meters grading 0.3%
Copper, 1.3% Lead, 6.6% Zinc, 0.1 g/t Gold and 61.1 g/t Silver
(Upper Lens) and 6.1 Meters Grading 0.3% Copper, 2.1% Lead, 10.1%
Zinc, 0.7 g/t Gold and 98.4 g/t Silver (Lower Lens), being the
deepest hole at La Romanera deposit (approx. 450 m below
surface).
- Hole LR017
also intersected the sulphides approximately 450 meters below
surface within the eastern part of the deposit. It is a 60 m step
out from LR014 and also occurs outside of the mineralized zone
delineated by historical drill holes. In this part of the deposit
and at this elevation, the Upper and Lower lenses are closer
together and have almost converged into a single lens. There is a
reduction in width from drill hole LR014 to LR017; however, the
copper is very high in the Lower Lens of drill hole LR017. The
continuity to the east and at depth of both lenses will be tested
with additional drill holes in this area of the deposit.
- Hole LR012
is located in the center of the deposit and returned high grade
values, particularly in the Upper Lens and is similar in widths and
grades to other intercepts reported in this part of the deposit,
area demonstrating the continuity of the deposit.
Drill Hole LR014:
The first lens in hole LR014 occurs from 595.1
m. The Upper lens is 15.1 m with a grade of 0.3 % Cu; 1.3 % Pb; 6.6
% Zn; 0.1 g/t Au and 61.1 g/t Ag. The unmineralized rock interval
between them is 0.5 m. The Lower lens consists of 6.1 m with a
grade of 0.3 % Cu; 2.1 % Pb; 10.1 % Zn; 0.7 g/t Au and 98.4 g/t
Ag.
Drill Hole LR017:
LR017 intercepted massive sulphides 100 m east
of LR009 (Please see the Company’s press release dated September 8,
2022) and 60 m from LR014. The Upper Lens starts from 612.7 m and
consists of 2.2 m grading 0.3 % Cu; 3.5 % Pb; 8.3 % Zn; 0.1 g/t Au
and 27.5 g/t Ag. The separation between the two lenses is 2.7 m.
The Lower Lens occurs from 617.6 m and is 1.8 m grading 6.4 % Cu;
0.2 % Pb; 1.0 % Zn; 0.1 g/t Au and 18.7 g/t Ag. This drill hole
intercept is strongly enriched in copper.
Drill Hole LR012:
Intercepted mineralization at approximately 300
metres vertically below surface. Two lenses were encountered: Upper
lens occurs from 332.2 m with 16.6 m grading 0.3 % Cu; 1.4 % Pb;
1.7 % Zn; 2.3 g/t Au and 96.8 g/t Ag (including 2.1 m grading 0.8 %
Cu; 6.6 % Pb; 9.4 % Zn; 4.5 g/t Au and 396.7 g/t Ag). The Lower
lens was intercepted 40.8 m below the Upper lens and encountered
6.5 m grading 0.3 % Cu; 0.1 % Pb; 0.1 % Zn; 1.7 g/t Au and 65.0 g/t
Ag. This drill hole represents a stepout of 100 m to the west
relative to historical data and has elevated gold and silver
values.
Figure 1: Location map, La Romanera
Deposit drill holes LR012, LR014, and LR017. The white drill hole
traces show drill holes that are in progress.
https://www.globenewswire.com/NewsRoom/AttachmentNg/abb9b8ea-3711-4358-8f96-aa4a1a2ed061
DDH |
Easting |
Northing |
Elevation |
azimuth |
dip |
depth (m) |
FROM |
TO |
Width (m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
LENS |
LR012 |
646593 |
4172590 |
148 |
210 |
-67 |
405.2 |
332.2 |
348.8 |
16.6 |
0.3 |
1.4 |
1.7 |
2.31 |
96.8 |
UL |
incl. |
|
|
|
|
|
|
332.2 |
334.4 |
2.1 |
0.8 |
6.6 |
9.4 |
4.47 |
396.7 |
UL |
LR012 |
|
|
|
|
|
|
389.6 |
396.1 |
6.5 |
0.3 |
0.1 |
0.1 |
1.66 |
65.0 |
LL |
LR014 |
646888 |
4172759 |
154 |
198 |
-61 |
643.0 |
595.1 |
610.2 |
15.1 |
0.3 |
1.3 |
6.6 |
0.13 |
61.1 |
UL |
LR014 |
|
|
|
|
|
|
610.7 |
616.8 |
6.1 |
0.3 |
2.1 |
10.1 |
0.68 |
98.4 |
LL |
LR017 |
646888 |
4172759 |
154 |
190 |
-65 |
653.0 |
612.7 |
614.9 |
2.2 |
0.3 |
3.5 |
8.3 |
0.13 |
27.5 |
UL |
LR017 |
|
|
|
|
|
|
617.6 |
619.3 |
1.8 |
6.4 |
0.2 |
1.0 |
0.06 |
18.7 |
LL |
Table 1. Diamond drillhole data: La
Romanera. NB= LL= Lower Lens Romanera, UL= Upper
Lens Romanera
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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