Emerita Resources Corp. [EMO-TSXV; EMOTF-OTC] reported assay results for hole LR002 which is the first drill hole completed at the Romanera deposit at its wholly owned Iberia Belt West project (IBW), southern Spain. As previously reported on June 7, 2022, hole LR002 intersected 14.3 metres of massive sulphides from 134.2 metres.
Assay results now confirm hole LR-002 intersected 14.3 metres grading 7.61 g/t gold, 311.1 g/t silver, 3.0% zinc, 2.9% lead, 0.4% copper from 134.2 metres depth. Included in the intercept is 7.8 metres grading 9.74 g/t gold, 372.9 g/t silver, 0.7% zinc, 2.7% lead, 0.6% copper from 136.2 metres depth as well as 4.6 metres grading 4.56 g/t gold, 235.9 g/t silver, 8.0% zinc, 3.8% lead, 0.2% copper from 144.0 metres.
Three additional drill holes have been completed to date and also appear to have intersected significant sulphide mineralization. Samples have been shipped to the ALS lab for analysis and these results will be reported once data is received.
David Gower, PGeo, CEO, said: â€œWe had a sense from reviewing certain of the historical data that the deposit could be enriched in precious metals. Interestingly, most of the upper part of the deposit as delineated by historical drilling was never assayed for gold. This presents significant upside potential even within the area.â€
Joaquin Merino, PGeo, president, noted: â€œWe were pleasantly surprised when we received the assay data and the QA/QC confirmation. There are some historical intercepts with anomalous gold and silver values, but this potential appears not to have been systematically evaluated by the historical work. There are a lot of drill intercepts to come and this is a remarkable start to the program.â€
The company has six drills at the Romanera deposit and expects there should be a steady flow of results in the coming months.
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 companyâ€™s corporate office and technical team are based in Sevilla, Spain, with an administrative office in Toronto, Canada.
In early trading on June 23, Emerita shares gained $0.13 to $1.40.