Emerita Announces Planned Drilling Program at Nuevo Tintillo Project, Spain
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Emerita Announces Planned Drilling Program at Nuevo Tintillo Project, Spain
TORONTO, Aug. 30, 2023 - Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA) (the “Company”
or “Emerita”) announces planned diamond drilling program (the “Drill Program”) at its wholly owned Nuevo
Tintillo project (“NT” or the “Project). The Drill Program is expected to commence late in the third quarter or
early in the fourth quarter of this year. The precise start date for the Drill Program will depend on the easing
of regulations presently imposed in southern Spain to reduce the risk of fires. Restrictions typically end around
the middle of September as the weather begins to moderate. Presently, heavy equipment is not permitted to
operate during the daytime hours due to hotter temperatures.
The initial Drill Program at Nuevo Tintillo will focus on targets that have been identified on the west side of
the Project, nearest to the Rio Tinto mine (see below for details). The program will evaluate six priority targets
and comprise approximately 3,000 meters in the initial evaluation phase. Subsequent drilling will be budgeted
based on results.
According to Joaquin Merino, P.Geo., President of Emerita, “We are excited to see the results of the initial
Nuevo Tintillo drill campaign. Our technical team has worked diligently to identify high potential drill targets.
Targeting is based on a combination of airborne electromagnetic (AEM) surveying , detailed and archived
gravity data, detailed mapping and a compilation of historical geology. The area has abundant ev idence of
base metal mineralization in surface outcrops as well as small historical mines and is situated on trend from
large VMS deposits such as Rio Tinto mine, Aznalc óllar mine and Cobre Las Cruces mine. This is the first
modern exploration evaluation that we are aware of for this highly prospective property.”
Background
The Nuevo Tintillo project comprises 6,875 h ectares with an additional 7,625 h ectares of claims that are
pending final granting to the Company (see the Company’s February 16, 2023 press release for further details).
As such, it is Emerita’s largest landholding in the Iberian Pyrite Belt (IPB). It is situated between several world-
class Volcanogenic Massive Sulfide (VMS) deposits, including Rio Tinto, Aznac óllar and Cobre Las Cruces.
Seven known mineralized occurrences and several historic producing mines are located within the P roject
boundaries (Figure 1).
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 1: Location of the Nuevo Tintillo project with respect to Rio Tinto, Aznacóllar and Cobre Las Cruces
deposits. Pending claims shown in blue.
Recent Work
In 2022, Emerita completed an 897 line -kilometer Time Domain Electromagnetic (TDEM) geophysical survey
over NT at 100m line -spacing (Figure 2). T his program highlighted fifteen areas of interest and the Project
area was subdivided into three zones for progressive follow-up: West, Central and East. Due to its proximity
to the world’s largest VMS occurrence at Rio Tinto, and the presence of the historic mines of Santa Flora and
Nazaret, work will commence in the western sector first and will be the focus of the initial drill campaign.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 2: Conductive zones identified in TDEM survey (hot colors) and historic producing mines in Nuevo
Tintillo (2km grid). The area outlined in blue around the Santa flora Mine is the area detailed in Figure 4.
The combination of TDEM and gravimetry has proven to be highly successful in identifying VMS deposits in
the Iberian Pyrite Belt and globally. In early 2023, the Company completed a detailed gravimetric survey over
an aerial extent of 6km by 2.5km, comprising 418 stations on 200m centers (Figure 3).
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 3: Combined historical and newly acquired gravimetry data collected by Emerita. Hot colors are
gravimetric highs. The west portion of the Nuevo Tintillo project occurs in the black outline. The grid on the
map is a 1km grid.
Following the acquisition of the TDEM data, Emerita deployed a senior geologist with global exploration and
production experience on VMS deposits to ground truth the anomalies, complete a detailed geological base ,
including local lithogic and structural models, and mineralized zones. In the western sector of Nuevo Tintillo,
geologic mapping at various scales from 1:250 in the underground workings to 1:2500 and 1:5000 on surface
was carried out across a 5km x 2km area (Figure 4).
Mapping and prospecting revealed important simi larities between the nearby Rio Tinto d istrict and western
sector of Nuevo Tintillo. In both areas, mineralization is located near to the contact between dacitic volcanics
and the overlying transition s eries and within the dacite volcanic suite itself. H alos of proximal intense
sericitization and more distal chloritization of host rocks are associated with the mineralizing event and can
be used to identify prospective areas.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 4: Portion of 1:5000-scale mapping and prospect sampling, Santa Flora area.
Structurally, much of the fold-thrust deformation is accommodated by the weaker sedimentary rocks and the
boundaries between these and the dacitic volcanic rocks. North -dipping thrusts are commonly localized in
purple and black (graphitic) shale units, which are clearly evident as through -going, highly conductive planar
features in the TDEM sectional data. As such, shale-hosted thrust faults at or near to the dacite-sedimentary
contacts where correlated with geophysical anomalies are interpreted to be highly prospective.
Integration of Geology, TDEM and Gravimetry for Targeting
Within this geological framework, the high -resolution gravimetry merged with the 2022 TDEM data yields a
combined target -level guide to search for coincident anomalies that are both highly dense and highly
conductive, which are key characteristic rock properties of massive sulfide bodies. TDEM anomalies that
coincide with gravity highs constitute potential targets for testing, as shown in Figure 5 below.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 5: Plan view detail of gravity data previously shown, merged with TDEM conductivity data that has
been filtered to show only very conductive zones (1km grid).
Figure 6: Oblique sectional view of surface geology at 1:5000 and TDEM section 724250E.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 7: TDEM section 724250E and geological XS 724250E.
According to David Gower, P.Geo., CEO of Emerita, “This combination of high-resolution geophysical coverage
and boots-on-the-ground mapping and prospecting has generated six targets in the western Nuevo Tintillo
sector, of which five have been selected for first-pass drill testing. The w estern Nuevo Tintillo area is under
no special environmental restrictions with regards to ex ploration activity and as such the permitting process
is simplified and managed solely by the Mining Department. It is anticipated that drilling could commence as
early as October 2023, subject to the end of fire-related restrictions in the area and timely approval of the drill
plan by the Mining Department.”
An initial program of 3 ,000 meters has been approved with a potential expansion to an already designed
program of 11,500 meters of diamond dr illing depending on results. Core will be logged in the Company’s
processing facilities in Puebla de Guzman with samples dispatched to ALS.
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 NI 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.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
For further information, contact:
Vincent Chen
+1 778 990 9433 (Toronto)
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, the mineralization of the
Nuevo Tintillo Project; the prospectivity of the Project; the Drill Program; the Company’s ability to obtain the
pending grants of claims for the Project 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 a ctivity, 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 soc ial 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 forwar d-looking information. Emerita does not
undertake to update any forward-looking information, except in accordance with applicable securities laws.
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