Emerita and Aldesa Intersect 4.0 Meters Grading 9.02% Zinc at Plaza Norte Joint Venture, Spain
EMERITA AND ALDESA INTERSECT 4.0 METERS GRADING 9.02% ZINC AT
PLAZA NORTE JOINT VENTURE, SPAIN
TORONTO, August 8, 2019 – Emerita Resources Corp. (TSX-V: EMO) (the “Company”
or “Emerita”) is pleased to report it has intercepted 4.0 meters grading 9.02% zinc within a
wider mineralized zone of 9.5 meters grading 4.57% zinc in the first drill hole to test an area
with historical mineralized intercepts at the Plaza Norte zinc -lead project (“Plaza Norte
Project”) located in the Santillana Syncline, Cantabria Region in northern Spain.
The Plaza Norte Project comprises 120 claims covering 3,600 hectares held by Cantabria
del Zinc, the joint venture company majority -owned by Emerita and the Aldesa Group
(“Aldesa”). Emerita is the operator of the exploration program at the Plaza Norte Project.
The drilling is focused on evaluating high-grade Mississippi Valley type zinc- lead
mineralization in the past producing Reocin mining camp located in Cantabria, northern
Spain. Initial drilling is following up on mineralized drill intercepts identified during
exploration campaigns completed primarily in the 1980s and 1990s. Analysis of the
historical information identified 4 key areas as high priorit y targets for exploration. These
areas are (from north to south): Yuso, Queveda, San Miguel and Mercadal. All of these
targets have significant mineralized intercepts, and Mercadal was the site of a past
producing mine (Figure 1).
The first phase of the diamond drill campaign is focused on the Queveda target area, where
several historical high-grade mineralized intercepts have been identified, including:
• S-532 from 557.8m; 18.95m grading 9.72% Zn
• S-537 from 560.0m; 3.22m grading 9.82% Zn
• S-539 from 588.9m; 6.10m grading 5.70% Zn
• S-544 from 557.3m; 5.30m grading 7.74% Zn
The objective of the drill campaign on the Queveda target area is to confirm zinc -lead
mineralisation intercepted by historical drill holes and to improve the drill spacing such that
an NI 43-101 mineral resource estimate can be calculated for the target. The target area,
measures approximately 1,500m north-south by 600m east-west.
The first drill hole has confirmed the mineralisation at the expected geological interval .
Stratigraphy in the area is near horizontal. Significant intercepts are presented in Table 1.
Hole-001 returned very similar grades and thickness compared to the historical holes.
Deposits of this type commonly have a significant structural control. The tighter drill pattern
required to establish a resource should also serve to provide data on the structural controls
of mineralization that would not be apparent with the present drill spacing where drill holes
are approximately 250 meters to 350 meters apart.
Summary of Significant Intersections at Plaza Norte Project
Drill
Hole Depth Easting (m) Northing (m) elevation (m) From to
Width
(m)
Zn
(%)
001 640
412,017
4,803,746
79.5 591.0 600.5 9.50 4.57
including 592.5 596.5 4.00 9.02
Table 1: Significant intercepts. The widths are considered True Width.
Joaquin Merino, P.Geo., President of Emerita commented “We are excited by the results in
the first hole of the program. Drilling is progressing well and we will release additional results
on completion of assays for several additional drill holes.”
Geology and Mineralization
The Reocin camp is classified as a Mississippi Valley Type Deposit. The principal geological
feature is a wide syncline structure that characterizes the structure of the western end of the
Basque-Cantabrian Basin, named the Santillana-San Román syncline, striking NE-SW. The
property encloses most of the Santillana-San Román syncline, where the ore deposits occur,
including the former Reocin mine which is located on the southeast flank. The Reocin Mine
had past production of 62 million tonnes grading 11.0 % zinc and 1.2% lead.
Mineralization in the district consists mainly of sulfides of sphalerite (ZnS), Galena (PbS)
with minor amounts of pyrite and / or marcasite. The sphalerite is clearly dominant in
proportion to the rest of sulfides. The sphalerite blend is the main ore for zinc and occurs in
various forms ranging from massive, to crystals of small size, to botryoidal texture and filling
fractures, although the most frequent texture is banded.
In terms of exploration, intensely dolomitized carbonate rocks affected by faulting/fracturing
are the preferred locations for hosting zinc mineralization and the formation of ore deposits.
Qualified Person
Joaquin Merino, P.Geo., is a “qualified person” as such term is defined in NI 43-101 and has
reviewed and approved the technical information related to the Plaza Norte Project included
in this press release and has approved its dissemination.
About Emerita Resources Corp.
Emerita is a natural resource company engaged in the acquisition, exploration and
development of mineral properties with a primary focus on exploring in Spain and Brazil.
The Company’s corporate office and technical team are based in S evilla, Spain with an
administrative office in Toronto, Canada.
For further information, contact:
Joaquin Merino
+34 (628) 1754 66 (Spain)
Helia Bento
+1 416 416 566 8179 (Toronto)
Jake Bouma
Intrynsyc Capital Corporation
T+1.604.317.3936
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 regarding the mineralization of th e Plaza Norte Project, the Company’s
exploration programs 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 purchased properties or mining rights awarded;
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.
Figure 1: Plaza Norte Project. Target areas.
Figure 2: Queveda target area and significant historical intercepts. Location of Hole 001.