Emerita Intersects 6.3 Meters Grading 0.8% Copper; 1.6% Lead; 3.9% Zinc; 2.8 g/t Gold and 52.0 g/t Silver within a 27.6 Meters Thick Massive Sul phide Zone, Extending La Romanera Deposit at Depth. Three Additional Thick Massive Sulphide Intervals, Assays Pending
Emerita Intersects 6.3 Meters Grading 0.8% Copper; 1.6% Lead; 3.9% Zinc; 2.8 g/t Gold and 52.0
g/t Silver within a 27.6 Meters Thick Massive Sul phide Zone, Extending La Romanera Deposit at
Depth. Three Additional Thick Massive Sulphide Intervals, Assays Pending
TORONTO, October 10, 2023 -- Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA)
(the “Company” or “Emerita”) announces additional drilling results from the ongoing drilling
program at La Romanera Deposit, part of Emerita’s wholly owned Iberian Belt West project (“IBW”
or the “Project). IBW hosts three previously identified massive sul phide deposits: La Infanta, La
Romanera and El Cura. Results contained in this release are from La Romanera deposit where drilling
is tracing the extension of the deposit at depth.
Results herein are from drill holes LR154 and LR155, which have intercepted polymetallic
mineralization in the form of a massive to semi -massive sul phide lens at approximately -450m
elevation (approximately 600m below surface). See Figure 1 and Table 1 below.
Table 1: Diamond drill hole data
The encountered mineralization is very similar in both holes and is characterized by a high pyrite
content at the hanging wall side of the lens that changes to a more chalcopyrite-sphalerite dominant
zone towards the footwall. The two intercepts are located towards the western edge of the deposit
(Figure 1). On the longitudinal section , the two intercepts are approximately 100 m apart. The
elevation of the intercepts is shallower than expected because the dip angle of the sulphide zone in
this area is not as steep as seen in other areas of the deposit. True thickness is close to 80% of the
reported intercept thickness.
In addition to these two holes, drill holes LR156, LR157 and LR158 have all intercepted significan t
intervals of massive sulphides (Figure 1). LR156 intercepted 37.6 meters of massive sulphide, LR 157
intersected 51.6 meters of massive sulphide and LR 158, which is the western-most drill hole at this
depth, intersected 5.5 meters of massive sulphides. Assays are pending for these drill holes and a
more detailed description will be provided when assays are available.
Drill hole LR154 encountered 6.3 Meters grading 0.8% Copper; 3.9% Zinc, 1.6% Lead, 2.82 g/t Gold
and 52.0 g/t Silver within 27.6 Meters Grading 0.5% Copper; 1.5% Zinc; 0.6% Lead; 1.5 g/t Gold and
25.5 g/t Silver.
DDH Easting Northing Elevation azimuth dip depth
(m) FROM TO Width
(m) Cu_% Pb_% Zn_% Au_g/t Ag_g/t LENS
LR154 646716 4172736 146 235 -68 680.9 640.0 667.5 27.6 0.5 0.6 1.5 1.49 25.5 LL
incl. 653.9 660.2 6.3 0.8 1.6 3.9 2.82 52.0 LL
LR155 646751 4172871 154 231 -56 782.7 725.9 743.1 17.2 0.2 0.5 1.3 0.34 19.5 LL
incl. 739.1 743.1 4.0 0.2 1.5 4.7 0.60 57.0 LL
Drill hole LR155 encountered 17.2 Meters Grading 0.2% Copper; 1.3% Zinc; 0.5% Lead; 0.3 g/t Gold
and 19.5 g/t Silver, including 4.0 Meters Grading 0.2% Copper; 4.7% Zinc; 1.5% Lead; 0.6 g/t Gold
and 57.0 g/t Silver.
Figure 1: La Romanera Vertical Longitudinal Section showing location of the drill intercepts
The exploration team performed a down hole TEM in LR155. Results indicate a strong geophysical
anomaly (conductor) continues at depth, to be tested by drilling.
Currently, the Company has four rigs operating at La Romanera deposit, with the objective to test
the continuity of the mineralization in the area below the current NI 43 -101 mineral resource
estimate (MRE) and increase the drill density in this area so it can be included in an updated mineral
resource estimate after the metallurgical program has been completed.
Drilling productivity continues to be hampered due to restrictions related to the fire ban, such that
heavy equipment cannot be operated during the hottest part of the day (approximately 12:00PM
until 8:00 PM). Due to the unusually extended and hot summer weather this year, reservoirs in the
area remain at very low levels and for this reason restrictions have been extended until
approximately mid-October. Once these restrictions are lifted , the Company plans to initiate the
drilling program at the Nuevo Tintillo Project that was announced previously. Permits and access
agreements are in place and the drill contractor is on stand-by to initiate that program.
The metallurgical samples are being processed at the lab in the United Kingdom. Grinding test work
is complete and mineral separation work is commencing. The metallurgical program is running 2-3
weeks behind schedule and initial results are now expected in November.
Qualified Person
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.
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:
Ian Parkinson
+1 647 910-2500 (Toronto)
www.emeritaresources.com
Cautionary Note Regarding Forward-looking Information
This press release cont ains “forward -looking information” within the meaning of applicable
Canadian securities legislation. Forward -looking information includes, without limitation,
statements regarding the the prospectivity of the IBW project, the min eralization and the IBW
project, the economic viability of the IBW project, the Company’s future exploration plans at the
Project and Nuevo Tintillo, the results of metallurgical tests and studies, the Company’s ability to
update the MRE 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 be materially different from those ex pressed 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 f oreign 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 dif fer
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.
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