15:05:04 EDT Fri 03 May 2024
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or Name
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Emerita Resources Corp (2)
Symbol EMO
Shares Issued 234,820,968
Close 2024-03-08 C$ 0.48
Market Cap C$ 112,714,065
Recent Sedar Documents

Emerita drills 68.9 m of 0.7% Cu, 0.3% Pb at IBW

2024-03-11 09:46 ET - News Release

Mr. David Gower reports

EMERITA INTERSECTS 68.9 METERS GRADING 0.7% COPPER; 0.3% LEAD; 0.5% ZINC, 0.91 G/T GOLD AND 36.2 G/T SILVER, INCLUDING 9.4 METERS GRADING 0.9% COPPER; 0.3% LEAD; 1.4% ZINC, 1.59 G/T GOLD AND 37.8 G/T SILVER AT LA ROMANERA DEPOSIT

Emerita Resources Corp. has released additional assay results from the continuing drilling program at La Romanera deposit, part of Emerita's wholly owned Iberian Belt West project (IBW). 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.

Assays have been received for diamond drill hole LR167. The hole was one of a pair designed to better define a zone of higher grade and copper enrichment evident in grade contouring of the deposit.

The hole entered the host package dacitic tuff and breccia at 548 metres depth; followed by a measured down-the-hole 68.9 m of massive sulphide unit, an approximate true width of 50 m.

Assay results are shown herein. Most notable are the elevated gold and copper values relative to the zinc and lead grades. Over the 68.9 m interval, Au values ranged from 0.12 g/t to 2.36 g/t (average: 0.91 g/t), and Cu values ranged from 0.25 per cent to 1.34 per cent (average: 0.66 per cent).

According to Joaquin Merino, PGeo, president of Emerita: "On review of the LR167 results within the context of deposit zonation and morphology, several observations can be made. Firstly, VMS deposits commonly exhibit some amount of metal zonation, with higher Au and Cu values nearer to the vent and higher Zn and Pb values more distally. The elevated Au and Cu values of this hole along with those of previously released holes LR159, LR158, LR157, LR154 and LR151 define a westward plunging approximately 200 m by 100 m zone that could indicate an original morphological aspect of the deposit feeder zone. This westward plunging characteristic can be seen in ZnEq per cent block model grades, and has also been noted in the distribution of stockwork intervals in the core. As the gross architecture of the system that formed the deposit is unraveled by ongoing drilling (although modified by subsequent tectonics) this will assist with designing the exploration strategy along the deposit's continuation to depth as well as targeting other identified targets along the district's mineralized trend. La Romanera remains open for further expansion along plunge to the west. The company is presently permitting additional drill platforms to the west to continue delineation as it has extended beyond the limit of initially permitted drill sites. Drilling at the El Cura deposit has been reactivated in the interim."

David Gower, PGeo, chief executive officer of Emerita, comments: "The company is also developing a plan to evaluate numerous geophysical/geochemical targets within the broader IBW property as part of the mining (exploitation) licence planning process. As the company completes engineering studies related to the future siting of production infrastructure, we need to ensure we do not inadvertently sterilize as yet undiscovered mineralized zones related to those targets."

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, 15 kilometres 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 one m or less, and respecting lithological contacts, with most of the samples one m 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 (inductively coupled plasma) 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). Ten per cent of the analyzed samples correspond to control samples (fine blanks, coarse blanks, high-, medium- and low-grade standards). In addition, 10 per cent of pulps are reanalyzed at a second independent certified laboratory (AGQ Lab Seville). 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 are 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. Merino, PGeo, 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 Seville, Spain, with an administrative office in Toronto, Canada.

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