Emerita Intersects 22.5 Meters Grading 0.2 % Copper; 2.6 % Lead; 5.1 % Zinc; 3.17 g/t Gold and 91.0 g/t Silver, Including 5.0 Meters Grading 0.3 % Copper; 4.1 % Lead; 10.4 % Zinc; 3.38 g/t Gold and 147.6 g/t Silver from 141.9 m
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Emerita Intersects 22.5 Meters Grading 0.2 % Copper; 2.6 % Lead; 5.1 % Zinc; 3.17
g/t Gold and 91.0 g/t Silver, Including 5.0 Meters Grading 0.3 % Copper; 4.1 % Lead;
10.4 % Zinc; 3.38 g/t Gold and 147.6 g/t Silver from 141.9 m
TORONTO, March 20 , 2023 – Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA) (the
“Company” or “Emerita”) is pleased to announce additional assay results from the ongoing 2022 - 2023
delineation drilling program at La Romanera Deposit, part of Emerita’s wholly owned Iberian Belt West project
(“IBW” or the “Project”). Assays from an additional 14 drill holes have been received. IBW hosts three
previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura. All deposits are open for
expansion along strike and at depth.
Assays are reported for the following 14 drill holes (LR022, LR027, LR031, LR036, LR039, LR048, LR055, LR063,
LR068, LR070, LR072, LR099, LR110 and LR120) at La Romanera deposit (Figures 1, 2 and 3 and Table 1).
The 14 drill holes are broadly distributed, in the upper and central part s of the deposit , and on the edges of
the known mineralization between +50 and -300 m elevation. The distribution of the drill holes has been
designed to maintain a drilling spacing of approximately 50 x 50 m to support a high-quality mineral resource
estimate. Work has begun on the initial National Instrument 43-101 (“NI 43-101”) mineral resource estimate
(the “Resource Estimate”) . The Qualified Person from Wardell Armstrong LLP has completed site visits and
data has been transferred to complete the modeling required for the Resource Estimate
According to Ian Parkinson, EVP Corporate Development for Emerita, “Our team is excited to reach this
milestone and start the process of putting together this interim mineral resource estimate. Drilling will
continue to expand the resources, however we are confident that we have delineated sufficient mineralization
with a tight enough drill spacing to support a robust and significant mineral resource estimate. Metallurgical
sampling is expected to commence during the resource estimation phase.”
The Company recently surpassed 70,000 m of drilling on the IBW project, approximately 78% at La Romanera
deposit and 22% at La Infanta deposit. Drilling continues with 15 rigs.
Drill hole results are summarized below. The following holes are expected to exceed the cut off grade and be
included in the Resource Estimate:
Drill Hole LR036:
The Upper Lens was intersected at 297.5 m down the hole and comprises 2.8 m of polymetallic mineralization
grading 0.4 % Cu; 2.2 % Pb; 5.8 % Zn; 2.0 g/t Au and 117.5 g/t Ag. The Lower Lens was intersected at 302.5 m
down the hole and comprises 15.0 m of polymetallic mineralization grading 0.3 % Cu; 0.9 % Pb; 2.2 % Zn; 1.0
g/t Au and 30.8 g/t Ag
Drill Hole LR048:
The Upper Lens was intersected at 200.4 m down the hole and comprises 13.1 m of polymetallic mineralization
grading 0.2 % Cu; 1.5 % Pb; 6.4 % Zn; 1.2 g/t Au and 83.8 g/t Ag. The Lower Lens was intersected at 212.6 m
down the hole and comprises 13.1 m of polymetallic mineralization grading 0.3 % Cu; 1.1 % Pb; 4.9 % Zn; 1.1
g/t Au and 89.4 g/t Ag.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Drill Hole LR055:
The lower Lens was intersected at 292.5 m down the hole and comprises 5.0 m of polymetallic mineralization
grading 0.3 % Cu; 1.6 % Pb; 4.7 % Zn; 1.0 g/t Au and 98.8 g/t Ag.
Drill Hole LR063:
The Upper Lens was intersected at 185.0 m down the hole and comprises 3.5 m of polymetallic mineralization
grading 0.2 % Cu; 1.4 % Pb; 6.4 % Zn; 0.4 g/t Au and 81.4 g/t Ag. The Lower lens was intersec ted at 259.9 m
down the hole and comprises 6.3 m of polymetallic mineralization grading 0.1 % Cu; 1.0 % Pb; 2.4 % Zn; 1.0
g/t Au and 29.1 g/t Ag.
Drill Hole LR068:
The Upper Lens was intersected at 384.2 m down the hole and comprises 7.0 m of pyritic mineralization
grading 0.4 % Cu; 0.2 % Pb; 0.1 % Zn; 0.7 g/t Au and 7.4 g/t Ag. The Lower L ens was intersected at 404.0 m
down the hole and comprises 8.2 m of polymetallic mineralization grading 0.4 % Cu; 6.6 % Pb; 16.4 % Zn; 1.1
g/t Au and 240.4 g/t Ag, including 3.1 m grading 0.4 % Cu; 15.7 % Pb; 38.6 % Zn; 2.3 g/t Au and 535.7 g/t Ag.
Drill Hole LR072:
The Upper Lens was intersected at 260.8 m down the hole and comprises 4.6 m of polymetallic mineralization
grading 0.1 % Cu; 2.3 % Pb; 2.8 % Zn; 2.0 g/t Au an d 72.7 g/t Ag. The Lower L ens was intersected at 320.4 m
down the hole and comprises 15.5 m of pyritic mineralization grading 0.8 % Cu; 0.4 % Pb; 0.3 % Zn; 2.0 g/t Au
and 52.8 g/t Ag.
Drill Hole LR110:
The Lower Lens was intersected at 140.1 m down the ho le and comprises 22.5 m of polymetallic
mineralization grading 0.2 % Cu; 2.6 % Pb; 5.1 % Zn; 3.17 g/t Au and 91.0 g/t Ag, including 5.0 m grading 0.3
% Cu; 4.1 % Pb; 10.4 % Zn; 3.4 g/t Au and 147.6 g/t Ag, from 141.9 m down the hole.
Drill Hole LR120:
The Lower Lens was intersected at 184.0 m down the hole and comprises 13.6 m of polymetallic mineralization
grading 0.1 % Cu; 1.5 % Pb; 3.4 % Zn; 2.3 g/t Au and 41.2 g/t Ag, including 4.7 m grading 0.1 % Cu; 1.6 % Pb;
3.9 % Zn; 3.4 g/t Au and 57.4 g/t Ag, from 192.4 m down the hole.
The following drill holes intersected predominantly massive pyrite mineralization with low er grades of base
and/or precious metals:
Drill Hole LR022:
The Lower Lens was intersected at 204.0 m down the hole and comprises 9.0 m of pyritic mineralization
grading 0.4 % Cu; 0.1 % Pb; 0.1 % Zn; 0.32 g/t Au and 7.6 g/t Ag.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Drill Hole LR027:
The Lower Lens was intersected at 498.3 m down the hole and comprises 7.1 m of pyritic mineralization
grading 0.4 % Cu; 0.1 % Pb; 0.2 % Zn; 0.21 g/t Au and 8.3 g/t Ag.
Drill Hole LR031:
The drill hole did not intersect any significant base metal mineralization.
Drill Hole LR039:
The Upper Lens was intersected at 439.4 m down the hole and comprises 26.8 m of pyritic mineralization
grading 0.5 % Cu; 0.2 % Pb; 0.1 % Zn; 0.5 g/t Au and 12.0 g/t Ag. The Lower L ens was intersected at 469.6 m
down the hole and comprises 9.6 m of pyritic mineralization grading 0.9 % Cu; 0.1 % Pb; 0.5 % Zn; 0.4 g/t Au
and 28.7 g/t Ag.
Drill Hole LR070:
The drill hole did not intersect any significant base metal mineralization.
Drill Hole LR099:
The Upper Lens was intersected at 401.1 m down the hole and comprises 9.0 m o f pyritic mineralization
grading 0.3 % Cu; 0.6 % Pb; 0.5 % Zn; 1.0 g/t Au and 43.4 g/t Ag, including 3.8 m grading 0.6 % Cu; 1.1 % Pb;
0.6 % Zn; 1.5 g/t Au and 79.2 g/t Ag, from 405.6 m down the hole.
Geophysical Survey
High grade polymetallic sulphide mineralization over considerable widths have be en intersected in several of
the deepest drillholes (below 500 meters) at La Romanera deposit (see news release dated March 2, 2023),
and the deposit remains open at depth. To explore more effectively at depth, the Company has engaged the
services of International Geophysical Technology (IGT), a specialized, independent geophysical contractor
based in Madrid, Spain, which is carrying out a survey of the 4 deepest holes using Downhole T EM and Mise-
à-la-Masse geophysical methods (Photo 1). This technology is designed to assist in targeting the deeper drilling
to maximize the success of the program. It also has potential to identify additional sulphide lenses at depth
that has been known to occur at other deposits in the Iberian Pyrite Belt which comprise several mineralized
zones.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Photo 1: IGT borehole EM geophysical equipment operating at La Romanera deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 1: Plan map showing drill hole trace surface projections, La Romanera deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 2: Longitudinal section showing intercepts in the Lower Lens, La Romanera Deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 3: Longitudinal section showing intercepts in the Upper Lens, La Romanera Deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Table 1: Diamond drill hole data, La Romanera deposit
Quality Assurance/Quality Control
Drilling at La Romanera is HQ size and core is placed into core trays at the drill site and transported directly
from the site to Emerita’s coreshack (15Km) from Romanera and (8Km) from Infanta. Once the cores are
received at Emerita's coreshack they are photographed and geotechnical logging is performed. Geological,
mineralogical and structural logging follows and mineralized zones are identified. The samples are marked
every 1m or less, and respecting 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 preparation is
done. In Seville, ALS performs the mechanical preparation 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 addition, 10% of pulps are reanalyzed at a second independent certified laboratory
(AGQ Lab Sevilla). When the analysis is completed, the certificates are received from the laboratory and the
QA/QC protocol identifies any deviation or anomaly in the results and the entire 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
The scientific and technical information in this news release has been reviewed and approved by Mr. Joaquin
Merino, P.Geo, Preside nt of the Company and a Qualified Person as defined by NI 43 -101 of the Canadian
Securities Administrators.