Emerita Resources drills 2.6% copper over 26.8 metres at IBW, Spain

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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 (IBW) project, 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. The company also announces that it continues to accelerate drilling at IBW where it has increased the number of drill rigs from 10 to 13. Presently, there are 12 drills on La Romanera deposit delineation and one rig continues to drill at La Infanta. Six drilling companies are engaged in the program.

Assay results have been received from two drill holes (LR019 and LR023) at the La Romanera deposit. Drill hole LR019 intercepted massive sulphide mineralization along section 6525E. The drill hole encountered the two lenses that comprise La Romanera deposit.

The upper lens was intersected at 302.0 metres down the hole and comprises 31 metres grading 0.2% copper, 0.5% lead, 0.6% zinc, 1.7 g/t gold and 37.4 g/t silver, including 9.7 metres grading 0.3% Cu, 0.5% Pb, 0.7% Zn, 3.4 g/t Au and 32.1 g/t Ag. The lower lens was intercepted at 345.7 metres, 18.9 metres below the upper lens, and encountered 26.8 metres grading 2.6% Cu, 0.5% Pb, 1.1% Zn, 0.3 g/t Au and 28.6 g/t Ag, including 14 metres grading 4.3% Cu, 0.8% Pb, 1.7% Zn, 0.3 g/t Au and 41.7 g/t Ag. Historical drills in this area, on the west side of the deposit, stopped short of the lower lens and only intersected the upper lens, which places this intercept outside of the historical resource area.

Both lenses are thick in this area of the deposit. The lower lens occurs west of and outside the historical drilling area. The massive sulphides comprise chalcopyrite, sphalerite, and galena and pyrite. The upper lens has high gold values, which has been observed in other drill holes drilled in this area and was not included as part of the historical assessment of the mineral resource deposit. The lower lens has very high copper values. This is the first intercept above 4% copper drilled in La Romanera either by Emerita or within the historical drill hole database. The nearest historic drill hole that penetrated the lower lens is about 100 metres west.

According to Joaquin Merino, PGeo, president: “We continue to extend the mineralized envelope at La Romanera. The historical drilling was done over a number of campaigns by more than one operator and the approach appears to have been inconsistent between campaigns and as the understanding of the geology evolved over time. In certain holes massive sulphides were identified but not assayed. Emerita is seeing high gold values in areas of the upper lens, for example, that were not sampled in the historic holes because visually they had lower base metal content. In other areas of the deposit, Emerita is intersecting two lenses where the historical database only has data indicating a single lens. We continue to accelerate the drill program and look forward to delivering a NI 43-101-compliant mineral resource estimate.”

To date, 33 drill holes have been completed on the La Romanera deposit, which is the main focus of the IBW program. Presently, there are 12 additional drill holes in the lab and 12 additional drill holes in progress at La Romanera.

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