Emerita Mobilizing Three Additional Diamond Drills and Reports Intersections IN Three Additional Step-Out Drill Holes at Iberia Belt WEST, Spain
36 Lombard Street, Floor 4, Toronto, ON, Canada, M5C 2X3
EMERITA MOBILIZING THREE ADDITIONAL DIAMOND DRILLS AND REPORTS INTERSECTIONS IN THREE
ADDITIONAL STEP-OUT DRILL HOLES AT IBERIA BELT WEST, SPAIN
TORONTO, November 12, 2021 – Emerita Resources Corp. (TSX–V: EMO; OTC: EMOTF ) (the “Company” or
“Emerita”) announces that it has tendered for three additional diamond drills to be mobilized to the Iberia
Belt West p roject (“IBW” or the “Project”) bringing the total to five drills . The contracts are being finalized
and it is expected ri gs will arrive on the site within the next two weeks. According to David Gower, P.Geo.,
CEO of Emerita, “We are moving forward with an accelerated drill program at IBW to coincide with the end of
the local hunting season on November 15. We will reactivate the geophysical survey and the step out drilling
along strike immediately following that date. The drills will initially set up on Infanta and targets in that area
and we will move two of them to Romanera as soon as the permit is issued, which is in process and expected
in the coming weeks.”
Results have been received for drill holes IN017, IN021 and IN023 (see Figures 1 and 2 – plan and long section
for locations) . These drill holes were step outs to the north (testing down dip). Mineralization was
encountered at shallower depths than expected due to the presence of a reverse fault that has displaced the
mineralization up dip and closer to surface (see drill sections, Figures 3 -4). Holes were extended until they
also intercepted the mineralization at depth on the other side of the fault (see sections below). Drill hole data
is compiled in Table 1 below.
Highlights:
• Drilling has demonstrated the mineralization continues to depth and has been displaced nearer
surface along a reverse fault to the north. Mineralization in the “North Block” has been intersected
by three holes, IN017, IN21 and IN23, which represents a continuous strike length of 300 m. Those
intercepts are between 70 and 100 m deep.
• These three holes show 2 intercepts: a first intercept corresponding to the North Block and a second
deeper intercept, which corresponds to the extension of the lens in the South Block.
• At depth, the three holes have also intercepted the South Block. The deepest extent of the South
Block mineralization is approximately 150 m in this area of the deposit in hole IN021 which
intersected 5.5m from 151.70 m deep, grading 0.8% Cu, 2.8% Pb, 5.7% Zn, 0.28 g/t Au, 62.5 g/t Ag).
• Hole IN023 is the westernmost hole (from 72.4, 5.1m @ 1.4% Cu, 4.4% Pb, 8.6% Zn, 0.52 g/t Au,
124.1 g/t Ag. This is the North Block). Grades are somewhat lower close to the fault as there is less
massive sulphide mineralization and more stringer and semi massive mineralization due to structural
effects in the high strain zone close to the structure.
• The mineralization continues to the west in both the south and north blocks, where a strong
geophysical conductor has been identified by the TEM survey. This area also contains historical mine
workings with two underground levels indicating the presence of mineralization.
• The mineralization also continues to the east in the North and South Blocks for approximately 400 m
where a small historical mining excavation is located. These mining excavations are thought to be at
least a century old.
• The depth extent and lateral continuity of the North Block mineralization block is currently being
evaluated by holes IN024 (at depth), IN025 and IN027 (to the east). Due to restrictions related to
hunting season holes to the west will commence after November 15.
• True widths are expected to be 90-95% of intersection width. Assays were conducted at ALS
Laboratories, a certified independent assay lab.
36 Lombard Street, Floor 4, Toronto, ON, Canada, M5C 2X3
According to Joaquin Merino, P.Geo., President of the Company: “We are excited to be ramping up the Project
with the addition of more diamond drills. We continue to work closely with government officials on the
Romanera and El Cura drill permits and this is progressing, following the normal process for receiving the drill
permits in areas with the land use designation in that area.”
TABLE 1: Drill hole assays, orientation, and coordinates
DDH Easting Northing Elevation azimuth dip depth
(m) FROM TO Width
(m) Cu_% Pb_% Zn_% Au_g/t Ag_g/t BLOCK
IN017 654053 4171617 213 174 -49 153.45 92.55 103.85 11.3 0.5 2.5 4.9 0.29 53.9 NB
incl. 100.75 102.85 2.1 1.3 7.9 14.6 0.59 171.5
IN017 136.75 137.75 1.0 0.2 1.3 2.4 0.18 22.0 SB
IN021 653955 4171598 205 173 -49 174.20 70.80 77.95 7.2 0.5 1.9 4.0 0.10 21.9 NB
IN021 79.95 83.30 3.3 0.4 1.5 2.4 0.34 75.7 NB
IN021 151.70 157.20 5.5 0.8 2.8 5.7 0.28 62.5 SB
IN023 653771 4171579 202 173 -53 138.40 72.40 77.55 5.1 1.4 4.4 8.6 0.52 124.1 NB
IN023 125.00 132.90 7.9 0.1 1.8 2.2 0.05 13.5 SB
FIGURE 1: Drill hole location map; boxes with the blue outline are North Block intercepts, plain boxes are
South Block. Holes in red – hole completed assays received, holes in blue – hole completed assays
pending, holes in white – in progress.
36 Lombard Street, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 2: Longitudinal section of the North Block showing intercept locations.
36 Lombard Street, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 3: Cross section for Hole IN017 showing the position of the uplifted North Block mineralization.
36 Lombard Street, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 4: Section for drill hole IN023 showing the reverse fault and uplift of the mineralized zone in the
North Block.
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 National Instrument 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:
Joaquin Merino
+34 (628) 1754 66 (Spain)
Helia Bento
+1 416 566 8179 (Toronto)
36 Lombard Street, Floor 4, Toronto, ON, Canada, M5C 2X3
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, statements the mineralization
of the Project including the infanta deposit, the prospectivity of the Project, the timing and results of the drill
program, the Company’s ability to obtain drill permits, the Company’s ability to complete a NI 43 -101
compliant resource estimate, the impact of changes in the mining laws and regulations, the impact of COVID
19 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 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 mate rially 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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