TSXV EMO.V  |  Last $1.98  |  Change 0.00  |  Zinc (mt): $ 2297.00 USD  |  Zinc (lb): $ 1.04 USD

Emerita Provides Results of Surface Sampling From Geological Mapping Program, Iberia Belt West Project

TORONTO, May 10, 2021 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX-V: EMO; OTC: EMOTF) (the “Company” or “Emerita”) is pleased to provide initial results of its surface sampling completed during its ongoing geological mapping program at its Iberia Belt West Project. (the “IBW Project”). Initial mapping has focused on the areas around the Infanta and Romanera Deposits and the El Cura area (Figure 1). The objective of this geochemical sampling campaign has been to verify the presence of massive sulfide mineralization and characterize the geological and structural setting in the three areas selected as priority targets for drilling within the IBW Project. The samples are from sulfide mineralized lenses and adjacent rocks in the areas where they outcrop either at surface or in historical trenches. The deposits were drilled by other companies in the past but until now Emerita has not had representative samples.

The three areas: La Romanera, El Cura and La Infanta, are aligned along an approximate E-W direction and are separated from each other by approximately 4 kilometers (Figure 1). The three mineralized zones occur within a discrete rhyolitic to dacitic unit. It is possible that there are other non-outcropping lenses besides those already known. The Company plans Magnetic and Electromagnetic (EM) geophysical surveys to further evaluate the exploration potential and improve the selection of future drilling targets. Highlights are presented below and a full table of all sampling results from the program is included at the end of this release (Table 3).

Joaquin Merino, P.Geo., President of Emerita, notes, “The geological mapping program continues on the remainder of the IBW Project. The sampling and mapping confirm the position of the mineral deposits in the field and the crews have also sited the drill platforms for the initial drill campaign. There are some very good grade samples from the field program, and this should bode well for the drill programs. We already have data from more than 40 historical drill holes at La Infanta and more than 50 at La Romanera. We are excited to start the program to expand our understanding of these deposits and our team is “amped up” to finally have core from these exceptional targets coming into the core shack. We look forward to the first drill core assays in the coming few weeks. We have established an excellent working relationship with the Mineral Department in Huelva as well as with the local municipality where the IBW Project is located, and their support has been very helpful.”

La Infanta

23 samples were collected in the La Infanta area. These show high content of Ag, Zn, Pb and Cu, with contents in some of the samples above 4% copper and 20% zinc and lead and above 500 g/t silver. La Infanta shows the highest grade in Copper Zinc and lead and is enriched in precious metals. Mapping has indicated mineralization and alteration associated with this zone extends along a strike length of approximately 1200 meters. Highlights are noted in the following Table 1. Please see Table 3 and Figures 2-X for a complete list of samples and sample locations.

Table 1: Highlights – La Infanta Mapping

sample ID sample Type* Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%)
PA-09 suboutcrop 0.925 518 4.26 6.37 12.2
PA-13 suboutcrop 0.865 26 2.66 9.38 0.134
PA-37 Rock Pile 0.874 462 4.14 19.15 27.4
PA-38 Rock Pile 1.275 464 4.3 22.6 31.9
PA-40 Rock Pile 1.205 411 4.2 22.8 20.6
PA-41 Rock Pile 0.533 353 8.49 24.7 20.9
PA-43 Rock Pile 0.945 295 2.68 21.9 29.7
PA-47 Rock Pile 0.112 346 4.25 9.15 20.4

* Suboutcrop refers to outcrop rubble in trenches that is in place but highly fractured. Rock pile samples

are from the material that is piled beside the excavations from when the trenches were dug.

La Romanera

A total of 41 samples were collected at La Romanera. Most of the sample were taken from the 450 meter long trench developed along the outcropping sulphide lenses that were exposed by previous exploration of the deposit. The sub-outcrops are from the surface exposures of these mineralized zones. The samples from La Romanera reveal a high content of both precious metals, some with values ​​of 10 g/t gold and more than 200 g/t silver with base metals Zn and Pb. The Cu and Sn contents are also anomalous. Table 2 below shows highlights for the La Romanera sampling. Please refer to Table 3 at the end of the release for a complete list of samples and locations.

Table 2: Highlights – La Romanera Area Mapping

sample ID sample Type* Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%)
PA-71 suboutcrop 4.33 203 0.272 10.3 9.72
PA-72 Pile 5.24 253 0.721 5.46 8.93
PA-83 suboutcrop 0.993 106 0.25 3.07 8.91
PA-84 suboutcrop 1.725 214 0.246 7.16 6.47
PA-86 suboutcrop 0.524 122 0.14 7.47 3.31
PA-81 suboutcrop 9.79 365 0.375 6.67 2.39
PA-82 suboutcrop 3.41 237 0.278 5.54 5.25
PA-68 suboutcrop >10.0 202 0.19 4.71 2.62
PA-66 suboutcrop 4.73 247 0.187 3.04 2.38

El Cura

Exposure of mineralization in the El Cura area is very limited. At El Cura, 20 samples were collected from an area of 100 m by 100 m around an old shaft and rock pile. Based on the limited exposures, the mineralized lens at El Cura appears to be plunging to the west. Mineralization observed is characterized by fine grained sulfide mineralization comprising pyrite, chalcopyrite, sphalerite and galena. The mineralized samples from El Cura tend to be copper-gold rich with lower silver, zinc and lead than the other two deposits. However these samples may not be representative of what was actually mined through the old workings.

Figure 1: Location for IBW project within the Iberian Pyrite Belt and the three mineral deposits.

https://www.globenewswire.com/NewsRoom/AttachmentNg/aa2257b1-4a9d-4a2e-ae24-f36cfcdb273f

Figure 2: Sample locations, La Infanta area.

https://www.globenewswire.com/NewsRoom/AttachmentNg/d8b11365-f86a-475a-b795-7966d95d79c2

Figure 3: Sample locations, La Romanera area.

https://www.globenewswire.com/NewsRoom/AttachmentNg/40b5f2e0-a486-4cca-bf00-dc1f14a12522

Figure 4: Sample locations, El Cura area.

https://www.globenewswire.com/NewsRoom/AttachmentNg/ccfe2e81-e70e-486d-a28a-e298a945244e

Table 3: Complete list of samples and locations, IBW mapping and surface sampling program. A total of 84 samples were collected. The coordinates of the locations of each sample were recorded, and the samples dispatched to the ALS laboratory in Seville for geochemical analysis, complying with the QA/QC protocols.

The analyses were carried out using the following methods: Au-AA23 for gold, Sn-ICP81x for Tin and ME-ICPORE for the rest of the elements. ALS complies with the International standards ISO / IEC 17025: 2017 and ISO 9001: 2015.

Au-AA23 ME-ICPORE ME-ICPORE ME-ICPORE ME-ICPORE
Sample Type Lugar Au g/t Ag g/t Cu % Pb % Zn %
PA-09 Suboutcrop Infanta 0.925 518 4.26 6.37 12.2
PA-13 Suboutcrop Infanta 0.865 26 2.66 9.38 0.134
PA-14 Outcrop Infanta 0.016 2 0.016 0.04 0.008
PA-02 BLANK BLANK <0.005 <1 0.003 0.008 0.003
PA-15 Outcrop Infanta 0.013 1 0.001 <0.005 <0.002
PA-17 Suboutcrop El Cura 0.231 9 0.882 0.033 0.02
PA-18 Rock Pile El Cura 0.304 16 0.149 0.088 0.01
PA-19 Suboutcrop El Cura 1.025 25 0.239 0.101 0.009
PA-20 Suboutcrop El Cura 0.493 18 0.075 0.109 0.009
PA-11 STANDARD OREAS-131b 0.02 34 0.023 1.89 3.06
PA-21 Rock Pile El Cura 1.735 22 0.097 0.59 0.409
PA-22 Suboutcrop El Cura 0.669 30 0.245 0.298 0.234
PA-23 Suboutcrop El Cura 0.25 12 0.407 0.048 0.009
PA-24 Suboutcrop El Cura 0.885 26 0.077 0.083 0.008
PA-25 Suboutcrop El Cura 0.359 16 0.073 0.093 0.009
PA-26 Suboutcrop El Cura 0.329 16 0.081 0.082 0.008
PA-27 Suboutcrop El Cura 0.912 17 0.071 0.072 0.011
PA-28 Suboutcrop El Cura 1.63 26 0.061 0.153 0.035
PA-29 Suboutcrop El Cura 0.698 16 0.686 0.078 0.015
PA-30 Suboutcrop El Cura 0.596 29 1.455 0.178 0.415
PA-31 Suboutcrop El Cura 0.373 20 0.152 0.106 0.011
PA-32 Suboutcrop El Cura 0.413 35 0.499 0.158 0.015
PA-33 Suboutcrop El Cura 0.353 75 0.59 0.24 0.017
PA-34 Suboutcrop El Cura 0.499 17 0.187 0.071 0.014
PA-35 Suboutcrop El Cura 0.84 22 1.28 0.066 0.024
PA-36 Suboutcrop El Cura 0.007 1 0.039 0.007 0.067
PA-37 Rock Pile La Infanta 0.874 462 4.14 19.15 27.4
PA-38 Rock Pile La Infanta 1.275 464 4.3 22.6 31.9
PA-39 Rock Pile La Infanta 0.305 186 1.75 6.44 7.97
PA-40 Rock Pile La Infanta 1.205 411 4.2 22.8 20.6
PA-41 Rock Pile La Infanta 0.533 353 8.49 24.7 20.9
PA-42 Rock Pile La Infanta 0.393 242 3.21 5.3 9.53
PA-16 STANDARD OREAS-930 0.029 9 2.55 0.014 0.053
PA-43 Rock Pile La Infanta 0.945 295 2.68 21.9 29.7
PA-44 Rock Pile La Infanta 0.05 27 0.322 1.45 1.005
PA-51 BLANK BLANK <0.005 <1 0.005 0.019 0.017
PA-46 Rock Pile La Infanta 0.13 70 1.395 3.2 7.03
PA-47 Rock Pile La Infanta 0.112 346 4.25 9.15 20.4
PA-48 Suboutcrop La Infanta 0.107 25 0.044 0.213 0.155
PA-49 Suboutcrop La Infanta 0.094 27 0.042 0.197 0.23
PA-50 Rock Pile La Romanera 0.008 <1 0.004 <0.005 0.011
PA-52 STANDARD OREAS-131b 0.01 33 0.022 1.855 3.11
PA-53 Suboutcrop La Romanera <0.005 <1 0.001 0.006 0.011
PA-54 Rock chip La Romanera 0.016 <1 0.003 <0.005 0.005
PA-55 Rock chip La Romanera <0.005 <1 <0.001 <0.005 0.002
PA-57 Rock Pile La Romanera 0.011 1 0.007 0.008 0.019
PA-58 Rock Pile La Romanera 0.022 1 0.017 0.028 0.108
PA-59 Rock Pile La Romanera 0.329 26 0.044 0.912 0.09
PA-60 Rock Pile La Romanera 0.026 2 0.005 0.012 0.019
PA-61 Suboutcrop La Romanera 0.408 37 0.035 1.24 0.04
PA-62 Suboutcrop La Romanera 0.84 37 0.034 1.165 0.048
PA-63 Suboutcrop La Romanera 0.245 25 0.037 1.1 0.046
PA-64 Suboutcrop La Romanera 0.742 82 0.337 0.137 0.881
PA-65 Suboutcrop La Romanera 4.19 277 0.222 2.69 2.05
PA-66 Suboutcrop La Romanera 4.73 247 0.187 3.04 2.38
PA-67 Suboutcrop La Romanera 2.38 215 0.371 1.255 0.326
PA-68 Suboutcrop La Romanera >10.0 202 0.19 4.71 2.62
PA-69 Suboutcrop La Romanera 2.27 177 0.47 1.995 4.19
PA-70 Suboutcrop La Romanera 2.55 127 0.556 0.567 1.1
PA-71 Suboutcrop La Romanera 4.33 203 0.272 10.3 9.72
PA-72 Rock Pile La Romanera 5.24 253 0.721 5.46 8.93
PA-73 Suboutcrop La Romanera 4.62 166 0.476 0.915 1.77
PA-74 Suboutcrop La Romanera 0.019 1 0.047 0.01 0.054
PA-75 Suboutcrop La Romanera 0.01 1 0.109 0.005 0.133
PA-76 Outcrop La Romanera 0.005 <1 0.008 <0.005 0.06
PA-77 Outcrop La Romanera <0.005 <1 0.001 <0.005 0.012
PA-78 Suboutcrop La Romanera 0.552 78 0.211 0.266 2.09
PA-56 STANDARD OREAS-930 0.012 8 2.66 0.015 0.054
PA-79 Suboutcrop La Romanera 2.31 240 0.243 7.2 0.265
PA-80 Suboutcrop La Romanera 1.135 90 0.345 0.876 0.163
PA-81 Suboutcrop La Romanera 9.79 365 0.375 6.67 2.39
PA-82 Suboutcrop La Romanera 3.41 237 0.278 5.54 5.25
PA-83 Suboutcrop La Romanera 0.993 106 0.25 3.07 8.91
PA-84 Suboutcrop La Romanera 1.725 214 0.246 7.16 6.47
PA-85 Outcrop La Romanera 0.117 3 0.102 0.108 0.06
PA-45 BLANK BLANK 0.007 <1 0.002 0.013 0.008
PA-86 Suboutcrop La Romanera 0.524 122 0.14 7.47 3.31
PA-87 Suboutcrop La Romanera 0.878 81 0.23 2.73 1.925
PA-88 Suboutcrop La Romanera 0.845 153 0.325 1.275 0.29
PA-89 Suboutcrop La Romanera 0.27 30 0.035 2.65 0.02
PA-90 Suboutcrop La Romanera 0.693 102 0.426 1.77 0.504
PA-91 Suboutcrop La Romanera 1.33 129 0.177 1.725 1.72
PA-05 STANDARD OREAS-131b 0.025 33 0.022 1.835 3.08
PA-92 Suboutcrop La Romanera 0.757 127 0.267 2.57 1.865
PA-93 Suboutcrop La Romanera 0.695 114 0.292 2.11 1.095

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. Joaquin Merino, P.Geo, President of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

About Emerita Resources Corp.

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 Company’s corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.

For further information, contact:

Joaquin Merino

+34 (628) 1754 66 (Spain)

Helia Bento

+1 416 309 4293 (Toronto)

info@emeritaresources.com

Cautionary Note Regarding Forward-looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements the mineralization of the Project, the prospectivity of the IBW Project, the timing and results of the diamond drill program, the impact of changes in the mining laws and regulations, the impact of COVID 19 and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Emerita, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Emerita has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Emerita does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.



Primary Logo

Sign Up for Updates