Emerita Intersects 11.4M of Massive Sulfide Grading 4.3% Copper, 48.31 G/T Silver and 1.85 G/T GOLD at El Cura, Extending the Deposit at Depth
EMERITA INTERSECTS 11.4M OF MASSIVE SULFIDE GRADING 4.3% COPPER, 48.31 G/T SILVER
AND 1.85 G/T GOLD AT EL CURA, EXTENDING THE DEPOSIT AT DEPTH
TORONTO, August 8, 2024 - Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) (the
“Company” or “Emerita”) has intersected significant mineraliza�on in an ongoing drilling campaign at El
Cura, part of Emerita’s wholly owned Iberian Belt West project (“IBW” or the “Project”; Figure 1). IBW hosts
three previously iden�fied Volcanogenic Massive Sulfide (VMS) deposits: La Romanera, El Cura and La
Infanta. Results contained in this news release are from El Cura deposit area only.
• Drillhole EC014 intersected 11.4 m grading 4.3% copper, 48.31 g/t silver and 1.85 g/t gold. Hole
EC014 is the deepest and thickest intercept to date in El Cura, extending the deposit 40m down-
dip. This is the deepest and most westerly hole drilled to date on the El Cura deposit and is
approximately 600 meters west of the historical workings.
• Drillhole EC015 intersected 4.6m grading 0.6% copper, 1.2% lead, 2.3% zinc, 33.02 g/t silver and
0.65 g/t gold, including 1.5m grading 0.9% copper, 3.3% lead, 6.4% zinc, 1.52 g/t gold and 67.00
g/t silver. Hole EC015 is located approximately 200 meters east and at shallower depth than
EC014.
• Mineraliza�on at El Cura occurs as bedded copper-zinc-lead-rich semi-massive to massive sulfides
with local overprin�ng of copper-rich veining that can significantly enrich grades, as is evident in
the drill holes on sec�on 9685E.
• First-pass drilling at Western Nuevo Tin�llo has been completed; 8 diamond drill holes totaling
4,318m across nearly 4km of strike. Geological interpreta�on and integra�on with the other
regional data is underway by the Company to determine next steps for this property.
Figure 1. IBW tenement and locations of La Romanera, El Cura and La Infanta deposits.
Emerita Work at El Cura
Drilling at El Cura con�nues with two rigs tes�ng depth and strike extensions along the WSW-ENE mineralized
trend. Each rig is currently engaged in detailed sec�onal drilling of cross-sec�ons 9685E and 9835E. Although
the full extent of the deposit ha s not yet been determined, par�cularly to the west and at depth , a general
zona�on is evident, richer in gold and copper to the west and enriched in zinc and lead to the east. Drilling
is currently cu�ng mineraliza�on deeper and further to the west than previously known and more than 600m
west of the historic mine workings (Figure 2).
Intercept spacing in sec�onal drilling is designed to intersect the mineraliza�on at Indicated and Inferred
Mineral Resource spacing, roughly 50m – 90m spacings. Assay results are shown in
Table 1.
Figure 2. Plan view map showing drill hole traces of the El Cura drilling. Hole traces in this NR colored
red.
Figure 3. Geology map of El Cura area showing drill hole locations and location of historical mine
workings. Mineralization is hosted in sediments and volcaniclastics colored blue and purple.
Figure 4. Drill hole pierce points projected to a vertical plane, oriented East-West, looking north. Holes
EC014 and EC015 shown in red.
Table 1: Significant intercepts from recent drilling at El Cura.
Discussion
Drilling thus far has defined a massive sulfide body plunging from near -surface in the vicinity of the historic
mine workings downward to the west-southwest. Copper and gold grades are highest in the western extents
of the currently defined mineraliza�on, whereas zinc and lead are dominant in the east. As the deposit
remains open at depth and along strike, metal zona�on interpreta�on is preliminary.
The more western of the two holes, EC014 (CS 9685E), intersected high grade copper and gold massive sulfide
(11.4m grading 4.3% Cu, 1.85 g/t Au, 48.31 g/t Ag, including 6m grading 5.7% Cu, 1.97 g/t Au and 62.17 g/t
Ag) overprinted by chalcopyrite -quartz veining that upgrades the copper content. Examples of the
mineraliza�on style of EC014 are shown in Figure 5 below.
Figure 5. Core photos of EC014 copper-rich massive sulfide with abundant overprinting chalcopyrite-quartz
veins.
EC015 (CS 9835E) intersected moderate grade lead and zinc mineraliza�on (4.6m grading 0.6% Cu, 1.2% Pb,
2.3% Zn, 0.65 g/t Au and 33.02 g/t Ag, including 1.5m grading 0.9% Cu, 3.3% Pb, 6.4% Zn, 1.52 g/t Au, 67.00
g/t Ag). As in hole EC014, the higher copper grades in EC015 coincide with zones of cross-cu�ng chalcopyrite-
quartz veining that approach 1% copper, but zinc and lead grades are more robust in EC015. Of note, the
intercept depth in EC015 is 140m shallower than that of EC014 so it is too soon to tell if grades and widths
will increase with depth in sec�on 9835E as previously reported in sec�on 9685 E. Mineraliza�on style of
EC015 is shown in Figure 6 below.
Figure 6. Core photo of EC015 zinc -lead-dominant massive sulfide with cross -cutting high -grade
chalcopyrite-quartz veins.
Figure 7. Interpretive geological cross section 9685E.
Figure 8. Interpretive geological cross section 9835E.
Next steps
Drilling will con�nue at El Cura with two rigs as the Company seeks to define the limits of mineraliza�on at El
Cura and deliver a preliminary mineral resource es�mate. Outside work hours are presently reduced by four
hours during the hot Andalucian summer but normal opera�ng hours are expected as the temperature cools
in September.
Concurrent with drilling, downhole geophysical surveys are being conducted to check for con�nua�on of the
massive sulfides down-dip and along strike.
Nuevo Tin�llo
A single rig, 5,000m diamond drill program was ini�ated in late November 2023 and finished in the end of
June 2024. In total, 4,318m of drilling was completed in 8 holes, tes�ng coincident gravity and EM anomalies
as well as surface showings of mineraliza�on and favorable lithologies. The contact between felsic volcanics
and overlying shales and volcaniclas�cs that hosts most of the orebodies of the area was clearly shown in
geophysical tests and confirmed in drilling. Two types of mineraliza�on wer e encountered: disseminated
zinc-lead (NTW001, 2.2m @ 0.36% Pb and 0.72% Zn, including 0.5m @ 1.09% Pb and 2.00% Zn); and
stockwork copper -e n r i c h e d ( N T W 0 0 7 , 1 . 1 m @ 0 . 4 % C u ; 3 . 0 m @ 0 . 2 % C u ) . S e c � o n a l i n t e r p r e t a � o n i s
underway that will combine with geophysical re-modeling, making use of in-situ, down-hole data gained from
the program.
Quality Assurance/Quality Control
Drilling at El Cura is HQ size and core is placed into core trays at the drill site and transported directly from
the si t e t o Emerit a’ s c or es hack f r om El Cur a. Once t he c or es ar e r ec eiv ed a t E merit a's c or eshack the y a r e
photographed and geotechnical logging is performed. Geological, mineralogical and structural logging follows
and mineralized zones are iden�fied. The samples are marked every 1m or less, and respec�ng lithological
contacts, with most of the samples 1.0m long. The zone immediately above and below the mineralized zones
are also sampled. Core samples are sawed in half and half of the core is returned to the core tray for future
reference. Once the core samples are cut, bagged and tagged, they are shipped to the ALS laboratory in Seville
by Emerita personnel where sample prepara�on is done. In Seville, ALS performs the mechanical prepara�on
of the samples and then the pulps are sent to ALS Ireland (ICP) and ALS Romania (fire assay). The analysis at
ALS Lab corresponds to the ME-ICPore (19 elements) package, together with the Au-AA23 fire assay (Gold).
10% of the analyzed samples correspond to control samples (fine blanks, coarse blanks, high, medium and
low grade standards). In addi�on, 10% of pulps are reanalyzed at a second independent cer�fied laboratory
(AGQ Lab Sevilla). When the analysis is completed, the cer�ficates are received from the laboratory and the
QA/QC protocol iden�fies any devia�on or anomaly in the results and the en�re batch is reassayed in such
case. Once the data is approved by the QA/QC protocol assays are entered digitally directly into the database.
Qualified Person
Scien�fic and technical informa�on 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.
About Emerita Resources Corp.
Emerita is a natural resource company engaged in the acquisi�on, explora�on, and development of mineral
proper�es 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 administra�ve office in Toronto, Canada.
For further informa�on, contact:
Ian Parkinson
+1 647 910-2500 (Toronto)
www.emeritaresources.com
Cau�onary Note Regarding Forward-looking Informa�on
This press release contains “forward -looking informa�on” within the meaning of applicable Canadian
securi�es legisla�on. Forward -looking informa�on includes, without limita�on, statements regarding the
prospec�vity and mineraliza�on of the IBW project including El Cura and Nuevo Tin�llo, the economic viability
of the IBW project, the Company’s ability to establish a mineral resource es�mate at IBW, the Company’s