Emerita Resources drills 0.3% copper over 42.2 metres at Iberian Belt West, Spain

Emerita Resources Corp. [EMO-TSXV; EMOTF-OTCQB; LLJA-FSE] reported additional assay results from the continuing drilling program at La Romanera deposit, part of Emerita’s wholly owned Iberian Belt West project (IBW), Spain. IBW hosts three previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura. Results contained in this news release are from La Romanera. All deposits are open for expansion along strike and at depth.

Assays have been received for three additional drill holes that were not included in the recently announced NI 43-101-compliant mineral resource estimate news releases dated May 23 and July 6, 2023. Drill holes LR148, LR150 and LR151 have intercepted sulphide mineralization below the limit of the current mineral resource estimate, extending the mineralization at depth. The intercepts are approximately 550 to 600 metres below surface and span approximately 300 metres horizontally along strike. Downhole TEM anomalies indicate the mineralization continues at depth for at least another 100 metres. At this elevation, it appears that the Upper and Lower lenses that occur at shallower depths in the deposit merge into one massive sulphide lens of up to 30 to 40 metres thickness. For interpretation purposes, this lens has been referred to as the Lower lens.

David Gower, PGeo, CEO, commented: “Massive sulphide mineralization continues to extend at depth at La Romanera and drill intercepts where assays are pending, as well as bore hole geophysical surveys, confirm that the sulphide mineralization continues to extend beyond the drilling completed to date. We are excited to see the intercept at El Cura as we have limited historical data for this deposit. Mineralization extends to at least 200-metre depth based on early drill results.”

The current drilling program is focused on testing the extension of La Romanera deposit at depth. Drill holes LR154 and LR155 are in progress. Drill holes LR152 and LR153 are completed with assays pending and have intersected significant massive sulphide zones (assays pending).

A down-the-hole transient electromagnetic (TEM) survey is planned as part of the exploration targeting for drill hole LR154.

The initial planned drill program for El Cura consists of 2,800 metres in 10 diamond drill holes and has commenced. The deposit is located approximately midway between La Romanera and La Infanta deposits and as such mineralization in this location is well situated to impact a potential future development.

Two drill holes have been completed at the El Cura deposit, EC002 and EC003. Hole EC003 has intercepted nine metres of mineralization of which approximately five metres is massive sulphide mineralization, characterized by pyrite with disseminated chalcopyrite, quartz-chalcopyrite stringers and veinlets adjacent to approximately four metres of semi-massive sulphide mineralization. Assays are pending for these holes and will be reported when received.

According to Joaquin Merino, PGeo, president of Emerita: “The intercept in EC003 is approximately 203 metres down the hole. There is a drift that extends to about 20 metres below surface. There is no other underground working related to the discovered mineralization in hole EC003. Data suggests the zone could have a lateral extent of about 400 metres. Emerita does not have complete information on the historical work done on the El Cura deposit, so will systematically drill it and monitor the results.”

During the summer season, the company will keep six rigs on the IBW project, although working hours have been restricted during daytime due to high temperatures (over 40 C). The company expects to return to normal shifts for drilling after the summer once the restriction is lifted.