Emerita Intersects 24.3 Meters Grading 5.1% Zinc, 2.0% Lead, 0.2% Copper, 1.16 G/T GOLD and 100.5 G/T Silver, Including 7.1 Meters Grading 12.4% Zinc, 3.1% Lead, 0.2% Copper, 0.80 G/T GOLD and 67.7 G/T Silver at LA Romanera Deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
EMERITA INTERSECTS 24.3 METERS GRADING 5.1% ZINC, 2.0% LEAD, 0.2% COPPER, 1.16 G/T
GOLD AND 100.5 G/T SILVER, INCLUDING 7.1 METERS GRADING 12.4% ZINC, 3.1% LEAD, 0.2%
COPPER, 0.80 G/T GOLD AND 67.7 G/T SILVER AT LA ROMANERA DEPOSIT
TORONTO, ONTARIO February 2, 2023 – Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA)
(the “Company” or “Emerita”) is pleased to announce assay results from 12 additional drill holes from the
2022 - 2023 delineation drilling program at La Romanera Deposit at its wholly owned Iberian Belt West project
(“IBW” or the “Project”). 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.
Assay results have been received for the following 12 drill holes: LR036B, LR042B, LR049, LR051, LR053, LR058,
LR064, LR065, LR066, LR077, LR082 and LR086) at La Romanera deposit reported below. These holes
intersected the western and center part of the deposit between -50 and - 300 m elevation . This area is
characterized by massive sulfides comprising sphalerite, galena and chalcopyrite within a massive pyrite
gangue. A number of these holes are on the western edge of the deposit as it has been drilled to date and
near the limit of the high grade sulphide mineralization, however, the extent of the deposit further to the west
remains open. The massive sulphides persist along the west side of the d eposit but are higher in pyrite and
lower in base metals generally. It will be necessary to step out further west in future as deposits in the Iberia
Pyrite Belt commonly have pyritic zones adjacent to higher grade sulphides. Gold and silver grades are locally
enriched in this portion of the deposit, precious metals enrichment appears to correlate with a stockwork type
mineralization such as in hole LR082 with elevated copper grades. Thickness in both the Upper and Lower
Lenses locally exceed 10 meters in some intercepts. Figure 1 shows a plan map with the hole locations. Figures
2 and 3 are vertical longitudinal sections of the Upper Lens and Lower Lens, respectively, showing the position
of the pierce points on the vertical projection. Table 1 provides a complete list of the drill hole data included
in this news release.
Joaquin Merino, P.Geo., President of Emerita, notes, “Our drill campaign remains on track, and we plan to lock
the database in mid-February in order to proceed with the initial NI 43-101 mineral resource estimate for the
IBW Project. We expect to have the mineral resource estimate completed in early Q2. We are presently
reviewing proposals for metallurgical testing and this work will commence this quarter also. Our
environmental baseline studies are also progressing and expected to be completed in April. The baseline study
is a key deliverable for the permitting process.”
Following is a summary of the diamond drill intercepts:
Drill Hole LR036B: The Upper Lens was intersected at 337.3 m down the hole and comprises 1.8 m of
stockwork mineralization grading 0.2 % Cu; 0.3 % Pb; 0.3 % Zn; 1.93 g/t Au and 24.8 g/t Ag.
Drill Hole LR042B: The Upper Lens was intersected at 352.6 m down the hole and comprises 8.0 m grading
0.2 % Cu; 2.8 % Pb; 4.5 % Zn; 1.30 g/t Au and 72.4 g/t Ag, including 3.8 m grading 0.2 % Cu; 5.8 % Pb; 8.7 %
Zn; 2.51 g/t Au and 139.3 g/t Ag, from 354.1 m.
The Lower Lens was intersected at 389.8 m down the hole. Mineralization is characterized by polymetallic
massive sulphides and encountered 4.9 m grading 0.4 % Cu; 0.5 % Pb; 1.5 % Zn; 0.12 g/t Au and 7.3 g/t Ag.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Drill Hole LR049: The Upper Lens was intersected at 286.8 m down the hole and comprises 2.8 m grading
0.4 % Cu; 0.6 % Pb; 1.2 % Zn; 0.54 g/t Au and 24.0 g/t Ag.
The Lower Lens was intersected at 296.2 m down the hole. Mineralization is characterized by polymetallic
massive sulphides and encountered 3.5 m grading 0.1 % Cu; 1.2 % Pb; 2.1 % Zn; 1.08 g/t Au and 51.6 g/t Ag.
Drill Hole LR051: The Lower Lens was intersected at 488.9 m down the hole. Mineralization is characterized
by polymetallic massive sulphides and encountered 18.0 m grading 0.4 % Cu; 0.5 % Pb; 0.7 % Zn; 0.44 g/t Au
and 21.4 g/t Ag, including 2.3 m grading 0.4 % Cu; 1.9 % Pb; 2.2 % Zn; 1.00 g/t Au and 72.1 g/t Ag, from 503.4
m.
Drill Hole LR053: The Lower Lens was intersected at 373.7 m down the hole and comprises 36.5 m grading
0.3 % Cu; 0.6 % Pb; 0.5 % Zn; 0.47 g/t Au and 36.3 g/t Ag.
Drill Hole LR058: The Upper Lens was intersected at 374.6 m down the hole and comprises 4.7 m grading 0.1
% Cu; 0.6 % Pb; 1.3 % Zn; 0.36 g/t Au and 33.5 g/t Ag.
Drill Hole LR064: The Lower Lens was intersected at 507.2 m down the hole. Mineralizati on is characterized
by polymetallic massive sulphides and encountered 24.3 m grading 0.2 % Cu; 2.0 % Pb; 5.1 % Zn; 1.16 g/t Au
and 100.5 g/t Ag, including 7.1 m grading 0.2 % Cu; 3.1 % Pb; 12.4 % Zn; 0.80 g/t Au and 67.7 g/t Ag, from
507.2 m.
Drill Hole LR065: The drill hole did not intersect any significant base metal mineralization.
Drill Hole LR066: This hole intercepts the Lower Lens only. The hole encountered 3.8 m of sulphide
mineralization at 346.0 m down the hole. The most abundant mineral is pyri te. The intersect returned 0.3 %
Cu; 0.5 % Pb; 0.8 % Zn; 0.53 g/t Au and 18.4 g/t Ag.
Drill Hole LR077: The drill hole did not intersect any significant base metal mineralization.
Drill Hole LR082: A stockwork was intersected at 445.3 m down the hole and comprises 11.2 m grading 1.6 %
Cu; 0.1 % Pb; 0.0 % Zn; 0.58 g/t Au and 18.3 g/t Ag.
The Upper Lens was intersected at 461.5 m down the hole and comprises 4.5 m grading 2.3 % Cu; 0.1 % Pb;
0.0 % Zn; 0.56 g/t Au and 45.3 g/t Ag.
The Lower Lens was intersec ted at 474.0 m down the hole. Mineralization is characterized by polymetallic
massive sulphides and encountered 4.2 m grading 0.1 % Cu; 2.8 % Pb; 4.1 % Zn; 1.42 g/t Au and 76.3 g/t Ag.
Drill Hole LR086: This hole intercepts the Lower Lens only. The hole encountered 18.5 m of sulphide
mineralization at 203.8 m down the hole. The most abundant mineral is pyrite. The intersect returned 0.4 %
Cu; 1.1 % Pb; 2.5 % Zn; 0.57 g/t Au and 28.4 g/t Ag.
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 Upper Lens, La Romanera Deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 3: Longitudinal section showing intercepts in the Lower Lens, La Romanera Deposit
Table 1: Diamond drill hole data, La Romanera deposit. LL= Lower Lens La Romanera, UL= Upper Lens La
Romanera
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
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., President of the Company and a Qualified Person as defined by NI 43 -101 of the Canad ian
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:
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 IBW
Project; the timing of assay results; the prospectivity of the Project; the timing and ability of the Company to
produce an NI 43 -101 compliant mineral resource estimate 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”,
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
“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 curren t 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 ide ntify 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 underta ke 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.