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
March 11 2024 - 7:00AM
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.
Assays have been received for diamond drill hole
LR167 (Fig. 1). 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 (Fig. 2).
Figure 1. Location and trace of LR167
and LR168 (results pending) within the Romanera drill
program.View Figure 1
here: https://www.globenewswire.com/NewsRoom/AttachmentNg/2206e328-b400-4f32-9ce4-9e0f3b1d05f8
The hole entered the host package dacitic tuff
and breccia at 548 meters depth; followed by a measured
down-the-hole 68.9m of massive sulfide unit, an approximate true
width of 50 m.
Figure 2.
La Romanera Longitudinal Section showing the location of
drill hole LR167 pierce point.View Figure 2
here: https://www.globenewswire.com/NewsRoom/AttachmentNg/455d35ff-524d-4e9a-857c-dc0ade7d82f6
Assay results are shown in Table 1. Most notable
are the elevated Au and Cu values relative to the Zn and Pb grades.
Over the 68.9m 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% to 1.34%
(average: 0.66%).
Table 1. Assay results of LR167
mineralized intercept.
DDH |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Depth(m) |
FROM |
TO |
Width(m) |
Cu_% |
Pb_% |
Zn_% |
Au_g/t |
Ag_g/t |
LENS |
LR 167incl. |
646595 |
4172719 |
145 |
185 |
-76 |
637.7 |
555.0590.8 |
623.9600.2 |
68.99.4 |
0.70.9 |
0.30.3 |
0.51.4 |
0.911.59 |
36.237.8 |
LLLL |
According to Joaquin Merino, P.Geo., 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 200m x 100m zone that could indicate an original
morphological aspect of the deposit feeder zone. This westward
plunging characteristic can be seen in ZnEq% block model grades in
Figure 2, 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, P.Geo., CEO 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) License 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 (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 drill program at El Cura, 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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