Emerita Resources drills 10.0 metres grading 1.2% copper; 1.6% lead; 0.12 g/t gold and 14.0 g/t silver, extending La Romanera deposit at depth, Spain

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Emerita Resources Corp. [TSXV-EMO; OTCQB-EMOTF; FSE-LLJA] reported additional assay results from the ongoing 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 release are from La Romanera. All deposits are open for expansion.

Drilling at La Romanera continues to test the depth extent of the deposit, down-plunge to the west-northwest. Assay results reported here are for the recently completed drill holes LR158 and LR159. The drill holes used for the company’s maiden NI 43-101 mineral resource estimate delineated the deposit to a vertical depth of about 450 metres. Since then, the company has completed 20 additional drill holes (three more in progress), which have extended the deposit approximately an additional 300 metres in depth below the resource estimate.

Drill hole LR158 return no significant results. Hole LR158 was a 100-metre step-out to the west from the LR155 impact at -430 RL, designed to probe for the western extents of the deposit at mid-levels. However, the hole passed through a 1.6-metre shear zone indicating the possible offset of the Lower Lens along the western extremity of the deposit at this elevation.

Hole LR159 was designed to probe the down-plunge continuity of the deposit to the west-northwest. Stepping down and to the west of the previously reported LR157 intercept. LR159 cut a 44.1-metre mineralized interval from 748.05 metres to 792.15 metres, grading 0.6% Cu, 0.9% Pb, 0.7% Zn, 0.96 g/t Au and 17.7 g/t Ag in massive sulfide and minor mineralized accessory volcanics.

This intercept includes 10.0 metres grading 1.2% Cu; 1.6% Pb; 0.12 g/t Au and 14.0 g/t Ag and a second including of 10.4 metres grading 0.7% Cu; 0.8% Pb; 1.5% Zn, 1.87 g/t Au and 23.0 g/t Ag. Of the 44.1 metre interval, 2.9 metres (6.6%) of the core was unrecovered in a faulted zone and a grade of 0 value has been applied to this interval. True thickness is approximately 80-75% of core width.

Drillholes LR163 and LR165 are in progress, and LR161 awaiting assay results, are located below LR159, at a separation of 100-150 metres. The vertical depth reached in the current campaign is 750 metres approximately. The drill campaign is winding down in advance of the Christmas break until mid-late January.

According to Joaquin Merino, P.Geo., President, “This has been a watershed year for the company and the development of the IBW project. The team has executed very well and processed a high volume of drill core from as many as 16 diamond drills to produce the initial NI 43-101 compliant mineral resource estimate for the Project. The Environmental Base Line studies were completed in April and in September an application was filed to convert the project to an Exploitation (Mining) License from an Exploration License. The Romanera Deposit continues to expand at depth. A focus for the 2024 program will be to drill for extensions of the copper zone identified in hole LR 152.”

The metallurgical test program for La Romanera and La Infanta Deposits is running behind schedule and is now expected to conclude in January 2024. An update with the metallurgist this week indicated that for the stage of the testing completed to date, the results are in line with expectations for other similar deposits being mined in the region. Final stages of testing related to base metals recovery along with optimizing precious metals recoveries have yet to be completed.

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