Emerita Resources (TSXV:EMO) has announced additional significant mineralization from its drilling program at the El Cura deposit area, part of the company’s wholly owned Iberian Belt West (IBW) project.

David Gower, P.Geo., CEO of Emerita, commented in a press release: “We are very encouraged with the recent results at El Cura. Drilling on the western side of the area has returned excellent copper-gold values over significant widths and this zone is growing significantly. A step out such as EC014 with the thickness and continuity we are seeing in the mineralized zone represents a material increase to the El Cura deposit. The location adjacent to the conceptual haulage ramp for the potential IBW development also makes it a very attractive target for possible mining in future”.

Highlights from the results are as follows:

• Drill Hole EC014 intersected 11.4 m of massive sulfide. Assay results are pending. This is the deepest and thickest intercept to date on El Cura area at approximately 350 m vertical depth.
• Drill Hole EC014 is located along section 9750E, which shows a series of 5 holes, all of which have intersected mineralization.
• Mineralization has been intersected from near-surface to approximately 350 m vertical depth. Drill Hole EC014 indicates the massive mineralized zone is likely becoming thicker. The zone remains open at depth.
• Intercepts in section 9750E are more than 600 m west of the historic El Cura mine workings.
• As announced on June 25^th, Emerita has added a second drill rig and plans an additional 15 drill holes to delineate the new El Cura

The IBW project, located in Spain, hosts three previously identified Volcanogenic Massive Sulfide (VMS) deposits: La Infanta, La Romanera, and El Cura. Recent drilling at El Cura has intersected substantial mineralization over an area of approximately 400 meters by 300 meters within a mineralized corridor extending at least 600 meters in strike length.

Initial drilling results from the western portion of the explored area included hole EC007, which intersected 2.2 meters grading 2.9% copper, 2.3% lead, 4.6% zinc, 2.81 grams per tonne gold, and 82.5 grams per tonne silver. Following these results, the company completed an additional six drill holes, three of which were drilled along section 9750E to test the continuity of the mineralized lens at depth.

The company has now planned 15 more drill holes to follow up on these findings. To date, approximately 220 meters of strike length has been tested, focusing on the westernmost 200 meters of the 600-meter corridor in the area of section 9750E. Massive to semi-massive sulfides were intersected down to 340 meters below surface in hole EC013, and drill hole EC014 has extended the mineralization another 60 meters down-dip.

David Gower, CEO of Emerita, expressed optimism about the recent results, noting the excellent copper-gold values over significant widths in the western side of the area. He highlighted that the step-out represented by EC014, with its thickness and continuity, represents a material increase to the El Cura deposit.

The company has allocated two drills to expand the mineralization encountered to date on section 9750E. One drill is testing the continuity of the mineralization at depth, while the other is exploring continuity to the east and west from section 9750E. The recently completed drill hole EC014 encountered 11.4 meters of massive sulfide with chalcopyrite and galena, cross-cut by chalcopyrite veining. Assays for this hole are pending.

Drill results to date at El Cura show a high-grade massive sulfide body that strikes WNW-ESE, dips steeply to the north, and plunges to the west. It is characterized by high grades in copper and gold. For example, hole EC012 yielded 3.4 meters grading 1.7% copper and 3.09 grams per tonne gold, while EC013 intersected 10.6 meters grading 1.7% copper and 0.95 grams per tonne gold. The true thickness is approximately 75 to 85% of the intercept length, with good drill core recoveries averaging 98%.

The 11.4-meter thick intercept of drill hole EC014 has verified the extension of the mineralization for an additional 60 meters down-dip. With a second rig now drilling, Emerita aims to accelerate the program and test the continuity of the mineralization both to the east and west.

All three deposits at the IBW project – La Infanta, La Romanera, and El Cura – remain open for expansion along strike and at depth. The company continues its exploration efforts to further define and expand these resources.​​​​​​​​​​​​​​​​

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Emerita Resources (TSXV:EMO) has released new drilling results from its ongoing program at La Romanera Deposit, a part of its fully owned Iberian Belt West (IBW) project. The IBW project contains three previously identified massive sulphide deposits: La Infanta, La Romanera, and El Cura. The current results come from the La Romanera deposit and are aimed at tracing the extension of the deposit at greater depths.

The data pertains to drill holes LR154 and LR155, which intercepted polymetallic mineralization roughly 600 meters below the surface, at an elevation of approximately -450m. Both holes reveal mineralization similar in composition, featuring a high pyrite content at the hanging wall side of the lens, which changes to a more chalcopyrite-sphalerite dominant zone closer to the footwall. These intercepts are situated toward the western edge of the deposit and are about 100 meters apart. Their elevation was found to be shallower than initially expected due to a less steep dip angle in this particular area of the deposit. The true thickness of the intercepted zone is nearly 80% of the reported intercept thickness.

Three additional drill holes—LR156, LR157, and LR158—also encountered significant intervals of massive sulphides. Assays for these holes are pending and will be described in greater detail once available. LR156 showed 37.6 meters of massive sulphide, LR157 had 51.6 meters, and LR158, the western-most at this depth, had 5.5 meters.

For drill hole LR154, the grading was 6.3 meters at 0.8% Copper, 3.9% Zinc, 1.6% Lead, 2.82 g/t Gold, and 52.0 g/t Silver within a 27.6-meter grading of 0.5% Copper, 1.5% Zinc, 0.6% Lead, 1.5 g/t Gold, and 25.5 g/t Silver. Drill hole LR155 exhibited 17.2 meters grading 0.2% Copper, 1.3% Zinc, 0.5% Lead, 0.3 g/t Gold, and 19.5 g/t Silver, including 4.0 meters at higher concentrations of these metals.

The exploration team also conducted a down-hole TEM in LR155, indicating a strong geophysical anomaly continues at depth. This will be further tested by drilling. Currently, Emerita Resources is operating four rigs at La Romanera with the aim of verifying the continuity of mineralization below the current NI 43-101 mineral resource estimate. The company also aims to increase the drill density in this area for inclusion in an updated mineral resource estimate, and post-metallurgical program.

Drilling productivity is currently constrained by fire ban restrictions, which prohibit the use of heavy equipment from approximately noon to 8:00 PM. These restrictions, extended due to a particularly hot and dry summer, are expected to last until mid-October. Once lifted, the company plans to begin drilling at the Nuevo Tintillo Project, for which permits and access agreements are already in place.

Metallurgical samples for the project are being processed in a United Kingdom lab. While the grinding test work is complete, mineral separation work is now beginning. The metallurgical program is running 2-3 weeks behind schedule, with initial results now anticipated in November.

Table 1: Diamond drill hole data