Emerita Provides Update on Permitting Process for Romanera and El Cura Deposits and Operational Update
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Emerita Provides Update on Permitting Process for Romanera and El
Cura Deposits and Operational Update
TORONTO March 8 , 202 2 – Emerita Resources Corp . (TSX – V: EMO ; OTC: EMOTF ) (the “Company” or
“Emerita”) announces that the permitting for the Romanera and El Cura deposit diamond drill program at its
wholly owned Iberia Belt West Project (“IBW” or the “Project”) is nearing the conclusion and the Company
expects to be able to commence the drill program on those targets in the coming weeks. According to David
Gower, P.Geo., CEO of Emerita, “Our entire team is excited to get the drills turning to delineate these two
deposits and particularly Romanera. As noted in the Company’s news release dated January 28, 2022, recent
work by the Company appears to have greatly expanded the potential footprint of the deposit. Whereas
historical drilling delineated mineralization along a strike length of 450 meters , our geophysical survey
indicates a strong EM conductor that extends for a total strike length of 1,200 meters (Figure 1).”
On February 18, 2022, the 30 business day period for public comment with respect to the proposed drill
program concluded. On the last day of the public comment period, as has been the case previously, there was
a submission from Ecologists in Action (Ecologistas en Acción), a Spanish environmental group. The comments
received from the ecologist group are similar to those that were submitted by them to the Provincial Mining
Authorities when Emerita received the Iberia Belt West exploration permits. The concerns were addressed
at that time and the Project was approved by the authorities and it is the expectation of the Company that the
Provincial Environmental Authorities will respond in the same way at this time.
From this point, the permitting process requires that the Environment al Authorities consider the comments
and provide a response (the Environmental Statement). The Environmental Department is currently drafting
the Environmental Statement, which is the basis for the future Unified Environmental Authorization (AUU).
Once complete, t he Environmental Statement is provided to all interested parties for 15 worki ng days for
informational purposes and will be followed by the final approval of the Resolution which allows drilling to
commence at the Romanera and El Cura deposits.
The Romanera and El Cura deposits are part of the IBW Project area that require a comprehensive permitting
process due to sensitivity related to the presence of cork oak trees in the area. The Company along with its
consultants and in consultation with officials from the Environmental Authorities completed detailed studies,
including flora and fauna and archeological studies as part of the process. The drill program has been designed
carefully to minimize the footprint and utilize existing roads and farm tracks for the positioning of the drill
pads. The file contains all the institutional reports and comments of interested parties, town planning reports
from the councils of Puebla de Guzman and Paymogo municipalities, Water, Heritage and Mine /Geology
reports, as well as the comments of interested parties, including Ecologists in Action.
Joaquin Merino , P.Geo., President of Emerita , stated; “We have been informed by t he Environmental
Authorities that they have received all the documentation in good ord er that they require . They are
completing the Environmental Statement which will result in the approval of the AUU, which is expected very
soon. Emerita has fulfilled all the required steps along the process which has positioned the Company to obtain
the environmental permits to proceed with the drill programs. The Company is very excited to embark on this
phase of the Project and has drills ready to commence immediately upon receiving the permit.”
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 1: Romanera Area initial planned drill pad locations. Drilling platforms have been planned on existing
trails and roads, to minimize the environmental footprint of the drill program. Note the surface projection
of the Romanera deposit in red. The deposit has only been drilled along 450 meters of the 1,200 meter long
TDEM conductor that is associated with the mineralization at the Romanera Deposit.
Operational Update
Drilling continues in the Infanta area of the Project with five diamond drills. Staffing levels continue to be
affected by Covid Protocols, which has resulted in staff shortages presently due to the requirement to isolate.
The Company is awaiting assays, however massive and semi massive to stringer sulphide mineralization has
been intersected at the Infanta North target. In fanta North is a new discovery in that t wo drill holes have
intersected sulphide mineralization over a strike length of at least 300 meters and at a depth of more than
300 meters (assays pending) in an area that has never been drilled previously. A third hole is in progress on
this target. Infanta North appears to be in the same stratigraphic and structural position as the El Curadeposit
and is interpreted to be a folded repetition of the Infanta stratigraphy to the south. Drilling also continues to
extend the sulphide mineralization down dip at the Infanta deposit (assays pending). The Company will
provide a more detailed description of the drill results as soon as assays are received.
At Nuevo Tintillo, the helicopter airborne gravity and electromagnetic (EM) surveying is about to commence.
The company has engaged Geognosia, a geophysical consulting company based in Spain, to carry out the
Gravimetric survey, using a Helicopter- borne HTDEM System. The penetration is estimated to be
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
approximately 500m. The company expects this program will results in geophysical anomalies that will be
follow up with detailed exploration. The entire property which extends approximately 23 km in an east-west
direction by 3 to 5 km north-south will be covered. The line spacing on the western part of the property where
the historical mines (Santa Flora and Nazaret) and the central area where known mineralization occurs will be
covered by 100 m spaced lines and the remainder at 200 m line spacing.
Figure 2 : Nuevo Tintillo Property, Note the historical mining areas that have not seen any exploration in
decades. On the inset map not the stratigrap hy occurs on a geological trend hoting the renowned Rio Tinto
Mine to the northwest and Aznalcollar and Cobre Las Cruces to the southeast.
The Company continues to await the next step of the Aznalcollar legal proceedings for both the Criminal court
and th e Administrative Court. Due to the numerous disruptions over the past two years related to the
pandemic, there is a large backlog of court cases in the system. The Government has indicated it intends to
appoint as many as 40 new judges to assist in alleviating this. The Company has received many inquiries from
stakeholders regarding the status of Aznalcollar proceedings and counsel in Spain has advised us that these
are Superior court proceedings that under the circumstances will be dealt with in time along with the many
other cases before the courts. The evidence and the rulings to date all point to a positive outcome for Emerita
and that has not changed.
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.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
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)
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 Company’s ability to
obtain the requisite approvals for its exploration plans and the timing of any such approvals; the mineralization
of the IBW Project and Nuevo Tintillo; the Company’s ability to acquire the Aznalcollar project and the timing
thereof; 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”, “i s 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 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.