Emerita drills 0.3% copper, 6% zinc, 0.74 g/t gold over 25.1 m of at Iberian Belt West, Spain

Emerita Resources Corp. [EMO-TSXV; EMOTF-OTCQB; LLJA-FSE] reported additional assay results from the 2022 delineation drilling at the La Romanera deposit at its wholly-owned Iberian Belt West project (IBW) in Spain. 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.

Emerita has received assay results for seven additional drill holes from the 2022 delineation drilling at the La Romanera deposit. Presently, there are 14 drills on La Romanera deposit delineation and one rig continues to drill at La Infanta. Six drilling companies are engaged in the program. The company has currently completed 100 drill holes at La Romanera, with another 14 in progress. At La Infanta, 77 drill holes have been completed to date and one hole is in progress.

According to David Gower, P.Geo, CEO, “The company is planning to complete the maiden NI 43-101 Technical Report and Mineral Resource estimate for IBW around the end of Q1 or early Q2 2023. We expect to lock in the databases for both La Romanera and La Infanta deposits for this estimate between January 31 and February 15, 2023 so the resource modeling can proceed. We plan to complete approximately 35 more holes by that time, most of these are short holes targeting the upper part of the deposit or specific areas where drill spacing should be improved. It is expected both deposits will remain open for further expansion when we lock the database for this estimate.”

Emerita has awarded the contract to complete the independent mineral resource estimate and Technical Report to Wardell Armstrong International (WAI).

Assay results have been received from 7 drill holes (LR016, LR040, LR044, LR046, LR047, LR052 and LR057) at the La Romanera deposit. These intercepts are located on the east and west edges of the footprint of the historical boreholes, between -100 and -250 metres vertical elevation.

Drill Hole LR016: The Upper Lens was intersected at 260.7 metres down the hole and comprises 3.8 metres of stockwork mineralization grading 0.2% Cu; 3.2% Pb; 0.6% Zn; 1.08 g/t Au and 123 g/t Ag. The Lower Lens was intercepted at 288.0 metres, 23 metres below the Upper Lens and encountered 40.2 metres of massive sulphide mineralization grading 0.3% Cu; 1.5% Pb; 4.3% Zn; 1.36 g/t Au and 75.5 g/t Ag, including 7.0 metres grading 0.3% Cu; 2.6% Pb; 5.9% Zn; 2.78 g/t Au and 110.5 g/t Ag.

Drill Hole LR040: The Lower Lens was intercepted at 485.4 metres down hole, about 350 metres below surface. Mineralization is characterized by massive sulphide, primarily pyrite and encountered 20.6 metres grading 0.3% Cu; 1.0% Pb; 0.6% Zn; 1.54 g/t Au and 62.3 g/t Ag.

Drill Hole LR044: The Upper Lens was intercepted at 288.3 metres down the hole. It intercepted 4.4 metres grading 0.7% Cu; 6.1% Pb; 9.2% Zn; 2.14 g/t Au and 207.3 g/t Ag. This hole also intercepted the Lower Lens, which comprised primarily massive pyrite with low base and precious metal content.

Drill Hole LR046: The first intercept for hole LR046 is located approximately 250 metres vertically below surface. The mineralization was encountered at 308.2 metres down the hole comprising 7.5 metres of massive sulphide grading 0.7% Cu; 0.5% Pb; 0.4% Zn; 2.24 g/t Au and 132.0 g/t Ag. This would correspond to the Upper Lens. The Lower Lens appears 3.7 metres after the Upper Lens. It intercepted 22.2 metres of massive sulphide mineralization grading 1.0% Cu; 0.45 g/t Au and 72.0 g/t Ag. 18.2 metres below the Lower Lens, the hole intercepted 2.2 metres of stockwork mineralization grading 1.4% Cu; 0.5% Pb; 1.6% Zn; 0.82 g/t Au and 37.9 g/t Ag.

Drill Hole LR047: This hole intercepts the Lower Lens only. The hole encountered 31.6 metres of sulphide mineralization at 307 metres down the hole. The most abundant mineral is pyrite. The intercept returned 0.2% Cu; 0.7% Pb; 3.9% Zn; 0.39 g/t Au and 46.0 g/t Ag.

Drill Hole LR052: This hole encountered two stockwork zones with sub economic grades, at 360.2 metres and 374.6 metres. the first stockwork zone is 6.3 metres grading 0.6% Cu; 0.51 g/t Au and 28.6 g/t Ag. The second stockwork zone is 4.2 metres grading 0.9% Cu; 0.32 g/t Au and 8.5 g/t Ag.

Drill Hole LR057: The Upper Lens was intersected at 301.4 metres down the hole and comprises 26.0 metres grading 0.3% Cu; 2.2% Pb; 0.4% Zn; 1.71 g/t Au and 204.8 g/t Ag, including 7.6 metres grading 0.2% Cu; 4.7% Pb; 1.0% Zn; 1.84 g/t Au and 277.1 g/t Ag. The Lower Lens was intercepted at 328.8 metres, 1.4 metres below the Upper Lens and encountered 25.1 metres grading 0.3% Cu; 1.5% Pb; 6.0% Zn; 0.74 g/t Au and 82.0 g/t Ag, including 6.6 metres grading 0.3% Cu; 2.6% Pb; 9.7% Zn; 0.89 g/t Au and 125.1 g/t Ag.

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.