Emerita Intersects 4.2 Meters Grading 1.4 % Copper; 6.9 % Lead; 14.7 % Zinc; 0.31 g/t Gold and 63.7 g/t Silver, at La Infanta Deposit and Granted Permit to Further Explore IBW with Addition of Infanta Sur
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Emerita Intersects 4.2 Meters Grading 1.4 % Copper; 6.9 % Lead; 14.7 % Zinc; 0.31 g/t Gold and
63.7 g/t Silver, at La Infanta Deposit and Granted Permit to Further Explore IBW with Addition of
Infanta Sur
TORONTO, May 15, 2023 -- Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA) (the
“Company” or “Emerita”) is pleased to announce assay results from 21 additional holes from the 2023
delineation drilling at La Infanta deposit, part of Emerita’s wholly owned Iberian Belt West project (“IBW” or
the “Project”). These results will be included in the upcoming NI 43-101 compliant mineral resource estimate
(“MRE”) which is presently being finalized and is expected to be released later this week . 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.
The Company is also pleased to announce that the Ministry of Industrial Policy and Energy of Huelva, Andalusia
has granted the exploration permit for the Infanta Sur Property (Figure 1). This permit adds an additional 848.5
hectares to IBW, which has now increased from 1,545.6 hectares to a total of 2,394.1 hectares. Infanta Sur is
located south of the current La Infanta area in IBW. The new exploration permit allows Emerita to begin
exploration immediately in the newly permitted area . The area granted is permitted for exploration activity
and does not require further environmental department or municipal approvals for work to proceed. T he
Company is currently planning geophysical and geological work to be done in the area. The Infanta Sur
exploration permit is granted for an initial period of three years and can be renewed for subsequent additional
periods.
Joaquin Merino, P.Geo., President of Emerita stated, “The continued high-grade results at La Infanta are very
encouraging and support our decision to expand our exploration footprint at the IBW project. The Emerita
team is planning additional drilling to continue exploration beyond the upcoming MRE. The holes in this
release are being incorporated into the block model for the forthcoming MRE. The Independent Qualified
Person is in the final stages completing the independent mineral resource estimate.”
La Infanta deposit comprises 2 mineralized blocks ( north and south) which are separated by a reverse fault.
The deposit is locally characterized by the development of high -grade polymetallic massive sulphide
mineralization. The known mineralization occurs from surface to 350 m depth and extends 1,400 m along
strike and remains open both to the east and west. The highest grades were found on the central portion
which extends approximately 700 m along strike. Thicknesses in the central area of the deposit range from 3
to 10 m in both blocks. Outside of the central area the deposit tends to be thinner and lower grade, however
it merits further exploration as massive sulphide mineralization continues.
La Infanta Drill Results:
Assay results have been received from 21 drill holes (IN039B, IN055, IN068, IN069, IN070, IN071, IN072, IN073,
IN074, IN075, IN076, IN077, IN078, IN079, IN080, IN081, IN082, IN083, IN084, IN085 and IN086) at the La
Infanta deposit reported below in Table 1. See Figures 2 and 3 for drill hole locations.
Drill Hole IN039B:
The North B lock was intersected at 364.9 m down the hole and comprises 5.0 m of pyritic mineralization
grading 0.3 % Cu; 0.0 % Pb; 0.0 % Zn; 0.55 g/t Au and 45.8 g/t Ag.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Drill Hole IN068:
The North Block was intersected at 213.9 m down the hole and comprises 1.5 m grading 0.6 % Cu; 1.1 % Pb;
1.7 % Zn; 0.07 g/t Au and 27.7 g/t Ag; and at 237.4 m down the hole and comprises 2.3 m of polymetallic
mineralization grading 0.0 % Cu; 2.5 % Pb; 1.7 % Zn; 0.09 g/t Au and 11.8 g/t Ag.
Drill Hole IN070:
The North block was intersected at 96.9 m down the hole and comprises 8.1 m grading 0.1 % Cu; 1.6 % Pb;
1.5 % Zn; 0.11 g/t Au and 26.1 g/t Ag , including 1.6 m grading 0.2 % Cu; 6.2 % Pb; 5.3 % Zn; 0.16 g/t Au and
47.3 g/t Ag.
Drill Hole IN071:
The North Block was intersected at 234.6 m down the hole and comprises 3.3 m grading 0.9 % Cu; 4.2 % Pb;
7.6 % Zn; 0.29 g/t Au and 106.2 g/t Ag.
Drill Hole IN072:
The South Block was intersected at 27.3 m down the hole and comprises 10.8 m grading 0.3 % Cu; 0.5 % Pb;
1.2 % Zn; 0.12 g/t Au and 14.8 g/t Ag , including 2.1 m grading 0.6 % Cu; 1.8 % Pb; 3.4 % Zn; 0.41 g/t Au and
58.9 g/t Ag.
Drill Hole IN073:
The South Block was intersected at 140.0 m down the hole and comprises 4.2 m of polymetallic mineralization
grading 1.4 % Cu; 6.9 % Pb; 14.7 % Zn; 0.31 g/t Au and 63.7 g/t Ag, including 2.1 m grading 2.6 % Cu; 13.3 %
Pb; 28.6 % Zn; 0.46 g/t Au and 118.2 g/t Ag. The South Block (1) was intersected at 158.2 m down the hole
and comprises 0.8 m of massive sulfides grading 0.4 % Cu; 5.2 % Pb; 10.1 % Zn; 0.05 g/t Au and 46.0 g/t Ag.
Drill Hole IN074:
The North Block was intersected at 64.6 m down the hole and comprises 8.6 m grading 0.5 % Cu; 1.5 % Pb;
3.0 % Zn; 0.12 g/t Au and 28.4 g/t Ag. The South B lock was intersected at 148.8 m down the hole and
comprises 5.8 m of massive sulfides grading 0.8 % Cu; 2.3 % Pb; 4.4 % Zn; 0.47 g/t Au and 113.6 g/t Ag,
including 2.2 m grading 1.4 % Cu; 3.2 % Pb; 6.5 % Zn; 0.59 g/t Au and 178.5 g/t Ag.
Drill Hole IN075:
The North Block was intersected at 269.1 m down the hole and comprises 2.9 m grading 0.6 % Cu; 1.7 % Pb;
3.5 % Zn; 0.16 g/t Au and 25.6 g/t Ag.
Drill Hole IN076:
The North Block was intersected at 86.5 m down the hole and comprises 5.5 m grading 0.6 % Cu; 2.1 % Pb; 4.1
% Zn; 0.50 g/t Au and 54.6 g/t Ag, including 2.3 m grading 1.4 % Cu; 4.4 % Pb; 9.0 % Zn; 0.70 g/t Au and 116.6
g/t Ag.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Drill Hole IN077:
The South Block was intersected at 71.2 m down the hole and comprises 7.1 m grading 0.6 % Cu; 2.1 % Pb; 3.5
% Zn; 0.23 g/t Au and 43.5 g/t Ag , including 1.2 m grading 2.6 % Cu; 10.4 % Pb; 18.7 % Zn; 0.43 g/t Au and
216.6 g/t Ag. The South Block (1) was intersected at 104.2 m down the hole and comprises 4.7 m of massive
sulfides grading 0.0 % Cu; 1.3 % Pb; 2.3 % Zn; 0.03 g/t Au and 3.9 g/t Ag.
Drill Hole IN078:
The North Block was intersected at 137.7 m down the hole and comprises 4.9 m grading 0.7 % Cu; 4.9 % Pb;
6.4 % Zn; 0.35 g/t Au and 100.8 g/t Ag, including 2.1 m grading 1.5 % Cu; 10.3 % Pb; 13.0 % Zn; 0.21 g/t Au and
194.5 g/t Ag.
Drill Hole IN079:
The North Block was intersected at 405.0 m down the hol e and comprises 3.5 m grading 0.1 % Cu; 1.0 % Pb;
1.8 % Zn; 0.01 g/t Au and 2.6 g/t Ag.
Drill Hole IN080:
The South Block was intersected at 93.0 m down the hole and comprises 1.8 m grading 0.8 % Cu; 3.0 % Pb; 5.8
% Zn; 0.71 g/t Au and 91.4 g/t Ag.
Drill Hole IN081:
The North Block was intersected at 237.1 m down the hole and comprises 2.7 m grading 0.7 % Cu; 2.3 % Pb;
5.1 % Zn; 0.27 g/t Au and 77.4 g/t Ag.
Drill Hole IN082:
The South Block was intersected at 162.3 m down the hole and comprises 5.0 m grading 0.2 % Cu; 0.7 % Pb;
1.3 % Zn; 0.18 g/t Au and 20.3 g/t Ag.
Drill Hole IN083:
The North Block was intersected at 119.5 m down the hole and comprises 6.7 m grading 0.2 % Cu; 2.5 % Pb;
4.8 % Zn; 0.21 g/t Au and 15.6 g/t Ag , including 1.2 m grading 0.2 % Cu; 7.3 % Pb; 16.6 % Zn; 0.13 g/t Au and
19.8 g/t Ag. The South Block was intersected at 199.8 m down the hole and comprises 2.6 m of massive sulfides
grading 2.1 % Cu; 6.1 % Pb; 10.8 % Zn; 0.59 g/t Au and 198.6 g/t Ag. The South Block (1) was intersected at
206.6 m down the hole and comprises 0.7 m of massive sulfides grading 0.4 % Cu; 3.8 % Pb; 10. 5 % Zn; 0.14
g/t Au and 29.0 g/t Ag.
Drill Hole IN084:
The North B lock was intersected at 411.5 m down the hole and comprises 0.9 m of pyritic mineralization
grading 0.7 % Cu; 0.6 % Pb; 0.4 % Zn; 0.05 g/t Au and 11.4 g/t Ag.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Drill Hole IN085:
The North B lock was intersected at 110.1 m down the hole and comprises 6.6 m of pyritic mineralization
grading 0.0 % Cu; 0.1 % Pb; 0.2 % Zn; 0.30 g/t Au and 7.0 g/t Ag , including 0.5 m grading 0.5 % Cu; 0.7 % Pb;
2.1 % Zn; 0.24 g/t Au and 48.0 g/t Ag.
Drill Hole IN055, IN069, IN086:
No significant assays.
Table 1: Diamond drill hole data, La Infanta deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 1: Newly granted exploration permit for Infanta Sur (848.5 hectares)
Figure 2: Vertical longitudinal section projection: South Block, La Infanta deposit
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 3: Plan map showing drill hole trace surface projections, La Infanta deposit
Extension of Warrants
Emerita also announces that it has received approval from the TSX Venture Exchange to extend to January 15,
2024 the expiry date of 7,847,150 common share purchase warrants (the “Warrants”) that were previously
set to expire on July 15, 2023. Each Warrant is exercisable for one common share in the capital of the Company
for an exercise price of $1.50.
Quality Assurance/Quality Control
Drilling at La Romanera and La Infanta 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 labora tory in Seville by Emerita personnel where sample
preparation is done. In Seville, ALS performs the mechanical preparation of the samples and then the pulps
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
are sent to ALS Ireland (ICP) and ALS Romania (fire assay). The analysis at ALS Lab corresponds t o 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 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.
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”,
“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 ris ks, 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 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 forward -looking
information. Emerita does not undertake to update any forward -looking information, except in accordance
with applicable securities laws.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
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.