Emerita Intersects 25.1 Meters Grading 0.3% Copper, 1.5% Lead, 6.0% Zinc, 0.74 G/T Gold and 82.0 G/T Silver at La Romanera Deposit, Awards Contract to Prepare Independent Resource Estimate
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Emerita Intersects 25.1 Meters Grading 0.3% Copper, 1.5% Lead, 6.0% Zinc, 0.74 G/T
Gold and 82.0 G/T Silver at La Romanera Deposit, Awards Contract to Prepare
Independent Resource Estimate
TORONTO, ONTARIO December 20, 2022 – Emerita Resources Corp . (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA)
(the “Company” or “Emerita”) is pleased to announce additional assay results from the 2022 delineation drilling
at the 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.
Emerita has received assay results for 7 additional drill holes from the 2022 delineation drilling at the La Romanera
Deposit. Presently, there are 14 drills on La Romanera deposit delineation and 1 rig continues to drill at La Infanta.
Six drilling companies are engaged in the program. The Company has currently completed 100 drill holes at La
Romanera, with another 14 in progress. At La Infanta, 77 drill holes have been completed to date and 1 hole is in
progress. A video of our 14 drill rigs operating on La Romanera deposit can be seen at the link below:
https://www.youtube.com/watch?v=xfgN9IfqQPw
According to David Gower, P.Geo, CEO of Emerita, “The Company is planning to complete the maiden NI 43-101
Technical Report and Mineral Resource estimate for IBW around the end of Q1 or early Q2 2023. We expect to
lock in the databases for both La Romanera and La Infanta deposits for this estimate between January 31 and
February 15, 2023 so the resource modeling can proceed. We plan to complete approximately 35 more holes by
that time, most of these are short holes targeting the upper part of the deposit or specific areas where drill spacing
should be improved . It is expected both deposits will remain open for further expansion when we lock the
database for this estimate.”
Emerita has awarded the contract to complete the independent mineral resource estimate and Technical Report
to Wardell Armstrong International (“WAI”). WAI is a wholly owned subsidiary of Wardell Armstrong LLP, a British
multidisciplinary Environmental, Engineering and Mining consultancy, first established in 1837, and now operating
from 13 offices in the UK and internationally. WAI has a strong client list, including companies and organisations
from the private and public sectors, as well as many major financial institutions. WAI has been involved in multiple
LSE Main Board and AIM listings as well as NI 43-101 Technical Reports for TSX and Competent Person’s Reports
for ASX listed companies. WAI has a long track record of providing high quality technical services to the mining
industry worldwide and has significant experience with deposits and operations of the Iberian Pyrite Belt over the
last 30 years.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Assay results have been received from 7 drill holes (LR016, LR040, LR044, LR046, LR047, LR052 and LR057) at the
La Romanera deposit (Figures 1, 2 and 3 and Table 1). These intercepts are located on the east and west edges of
the footprint of the historical boreholes, between -100 and -250 m vertical elevation.
Drill Hole LR016: The Upper Lens was intersected at 260.7 m down the hole and comprises 3.8 m of stockwork
mineralization grading 0.2 % Cu; 3.2 % Pb; 0.6 % Zn; 1.08 g/t Au and 123 g/t Ag. The Lower Lens was intercepted
at 288.0 m, 23 m below the Upper Lens and encountered 40.2 m of massive sulphide mineralization grading 0.3%
Cu; 1.5 % Pb; 4.3 % Zn; 1.36 g/t Au and 75 .5 g/t Ag, including 7.0 m grading 0.3 % Cu; 2.6 % Pb; 5.9 % Zn; 2.78
g/t Au and 110.5 g/t Ag.
Drill Hole LR040: The Lower Lens was intercepted at 485.4 m down hole, about 350 m below surface.
Mineralization is characterized by massive sulphide, primarily pyrite and encountered 20.6 m grading 0.3 % Cu;
1.0 % Pb; 0.6 % Zn; 1.54 g/t Au and 62.3 g/t Ag.
Drill Hole LR044: The Upper Lens was intercepted at 288.3 m down the hole. It intercepted 4.4 m grading 0.7 %
Cu; 6.1 % Pb; 9.2 % Zn; 2.14 g/t Au and 207.3 g/t Ag. This hole also intercepted the Lower Lens, which comprised
primarily massive pyrite with low base and precious metal content.
Drill Hole LR046: The first intercept for hole LR046 is located approximately 250 m vertically below surface. The
mineralization was encountered at 308.2 m down the hole comprising 7.5 m of massive sulphide grading 0.7 %
Cu; 0.5 % Pb; 0.4 % Zn; 2.24 g/t Au and 132.0 g/t Ag. This would correspond to the Upper Lens. The Lower Lens
appears 3.7 m after the Upper Lens. It intercepted 22.2 m of massive sulphide mineralization grading 1.0 % Cu;
0.45 g/t Au and 72.0 g/t Ag. 18.2 m below the Lower Lens, the hole intercepts 2.2 m of stockwork mineralization
grading 1.4 % Cu; 0.5 % Pb; 1.6 % Zn; 0.82 g/t Au and 37.9 g/t Ag.
Drill Hole LR047: This hole intercepts the Lower Lens only. The hole encountered 31.6 m of sulphide
mineralization at 307 m down the hole. The most abundant mineral is pyrite. The intercept returned 0.2 % Cu; 0.7
% Pb; 3.9 % Zn; 0.39 g/t Au and 46.0 g/t Ag.
Drill Hole LR052: This hole encountered two stockwork zones with sub economic grades, at 360.2 m and 374.6
m. the first stockwork zone is 6.3 m grading 0.6 % Cu; 0.51 g/t Au and 28.6 g/t Ag. The second stockwork zone is
4.2 m grading 0.9 % Cu; 0.32 g/t Au and 8.5 g/t Ag.
Drill Hole LR057: The Upper Lens was intersected at 301.4 m down the hole and comprises 26.0 m grading 0.3 %
Cu; 2.2 % Pb; 0.4 % Zn; 1.71 g/t Au and 204.8 g/t Ag, including 7.6 m grading 0.2 % Cu; 4.7 % Pb; 1. 0 % Zn; 1.84
g/t Au and 277.1 g/t Ag . The Lower Lens was intercepted at 328.8 m, 1.4 m below the Upper Lens and
encountered 25.1 m grading 0.3 % Cu; 1.5 % Pb; 6.0 % Zn; 0.74 g/t Au and 82.0 g/t Ag, including 6.6 m grading
0.3 % Cu; 2.6 % Pb; 9.7 % Zn; 0.89 g/t Au and 125.1 g/t Ag.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 1: Plan map showing drill hole locations
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 2: Vertical Longitudinal projection of the Upper Lens at the La Romanera Deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 3: Vertical Longitudinal projection of the Lower Lens at La Romanera Deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Table 1: Drill hole data
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 La Romanera and (8KM) from La 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, AL S 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). ALS is independent of Emerita.
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 re-assayed 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 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:
Joaquin Merino
+34 (628) 1754 66 (Spain)
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
Company’s drill program; 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”,
“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 b e 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 the
purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Emerita
has attempted to identify important factors th at 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.