Emerita Reports Latest Drill Results and Adds 14TH Drill Rig at LA Romanera
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
EMERITA REPORTS LATEST DRILL RESULTS AND ADDS 14TH DRILL RIG AT
LA ROMANERA
TORONTO, ONTARIO November 3, 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. Presently,
there are 13 rigs on La Romanera deposit delineation and 1 rig continues to drill at La Infanta. Six
drilling companies are engaged in the program. The most recent drill rig is capable of drilling
shallower angle drill holes and will accelerate drilling of some of the thicker, higher base metal grade
sections of the deposit, based on the historical intercepts. This area of the deposit was not
systematically assayed for gold by previous operators . According to Joaquin Merino, P.Geo.,
President of Emerita, “The upper central area of the deposit is expected to contain a significant
proportion of the historical resource, based on the base metal grades and thickness of the sulphide
intervals in the historical drill holes. We are interested to see what the gold values are in this section
of the deposit. In addition, we expect to commence drilling the El Cura deposit with two drills after
December 1 , 2022 which is after the hunting season in the area. El Cura is situated between La
Romanera and La Infanta deposits.”
Additional assay results for the following six drillholes are reported as follows: Holes LR025, LR026
and LR033 are located at the western side of the deposit at various elevations. Holes LR032 and
LR006B are in the central part of the deposit and hole LR030 on the eastern side (Figures 1, 2, 3) .
Table 1 below provides details of the intercepts and drill hole locations.
Drillhole LR025 intercepted only the Lower Lens mineralization from 184.2 m and encountered 11.2
m of massive sulphide mineralization grading 0.4 % Cu; 1.5 % Pb; 4.2 % Zn; 0.8 g/t Au and 60.8 g/t
Ag, including 2.8 m grading 0.3 % Cu; 3.8 % Pb; 12.2 % Zn; 1.72 g/t Au and 131.9 g/t Ag.
Drillhole LR026 intercepted massive sulphide in the Uppe r Lens over 16.9m which in this hole
comprises mostly pyrite with no significant values of base or precious metals. The Lower Lens occurs
19.5m below the Upper Lens and consists in 16.3 m grading 0.4 % Cu; 0.2 % Pb; 0.4 % Zn; 0.7 g/t Au
and 16.0 g/t Ag, including 2.8 m grading 0.6 % Cu; 0.2 % Pb; 0.0 % Zn; 2.0 g/t Au and 38.6 g/t Ag.
Drillhole LR033 was drilled into the central-west part of the deposit and intercepted the two lenses
of massive sulphides. The Upper Lens occurs from 326.2 m and has 1.9 m grading 0.5 % Cu; 1.5 % Pb;
1.3 % Zn; 1.2 g/t Au and 83.8 g/t Ag. The interval between the Upper and Lower Lenses is 20.1 m. The
Lower Lens consists of 1.2 m of low-grade massive sulphides.
Drillhole LR032 targeted a zone 250 m below surface in the central part of the deposit. It encountered
two lenses of massive sulphides. The Upper Lens occurs from 328 .3 m and comprises 4.6 m grading
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
1.5 % Cu; 0.1 % Pb; 0.0 % Zn; 0.5 g/t Au and 39.1 g/t Ag. The interval between the two lenses is 27.4
m. The Lower Lens consists of 7.5 m grading 0.2 % Cu; 0.7 % Pb; 1.0 % Zn; 1.8 g/t Au and 43.8 g/t Ag,
including 2.9 m grading 0.3 % Cu; 0.8 % Pb; 0.9 % Zn; 3.51 g/t Au and 65.9 g/t Ag.
Drillhole LR006B intercepted the Upper Lens from 472.7 m where it is only 0.5 m thick grading 0.4 %
Cu; 1.4 % Pb; 2.2 % Zn; 1.3 g/t Au and 92.0 g/t Ag. The Lower Lens was intercepted 5.5m below and
is also characterized by massive sulphide mineralization. The Lower Lens intercept consists of 40.7 m
grading 0.3 % Cu; 0.7 % Pb; 0.5 % Zn; 1.6 g/t Au and 32.3 g/t Ag, including 4.8 m grading 0.2 % Cu; 1.3
% Pb; 1.8 % Zn; 4.2 g/t Au and 64.2 g/t Ag with a second high grade gold interval of 3.0 m grading 0.4
% Cu; 0.4 % Pb; 0. 3 % Zn; 6 .54 g/t Au and 47.8 g/t Ag. Drill hole LR006B shows that excellent gold
grades continue to be present at this elevation, approximately 400 m below surface.
Drillhole LR030 intercepted mineralization at 300 m below surface in the eastern side of the deposit.
It encountered the Upper and Lower massive s ulphide lenses. The Upper Lens occurs from 325.4 m
down the hole and comprises 5.3 m grading 0.1 % Cu; 0.6 % Pb; 10.2 % Zn; 0.4 g/t Au and 54.5 g/t Ag.
The interval between the lenses is 26.1 m. The Lower Lens intercept consists of 6.3 m grading 1.1 %
Cu; 0.4 % Pb; 0.7 % Zn; 1.1 g/t Au and 21.4 g/t Ag. Hole LR030 is located approximately 100 m east
of the historical Upper Lens drilling and appears to mark a significant extension of the Upper Lens
massive sulfides to the east in this area. Copper and gold grades are significant in the Lower Lens in
this hole.
As with many of the Volcanic Massive Sulphide deposits in the Iberian Pyrite Belt, metallic zonation
is a common occurrence. This appears to be the case at the La Romanera deposit, based on Emerita’s
drill results to date. There are zones rich in gold , sometimes with elevated copper, and other areas
rich in base metals, mainly zinc and lead. Elevated gold and silver values occur within portions of
both the Upper and Lower Lenses and in all areas of the deposit drilled to date, which is a significant
new development. Drilling is commencing that will test a large area of the shallower and central
portion of the Lower Lens (Figure 3) which accounts for a significant propor tion of the historical
resource. Numerous thick intercepts are reported in the historical data for this area and the precious
metal content was not systematically evaluated.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 1: Location map, La Romanera Deposit drill holes LR006B, LR025, LR026, LR030, LR032 and
LRO33.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 2: Longitudinal section showing intercepts in the Upper Lens, La Romanera Deposit.
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
Figure 3: Longitudinal section showing intercepts in the Lower Lens, La Romanera Deposit. Note
the area in the red oval that hosts significant portions of the historical resource referred to in the
text above.
Table 1. Diamond drillhole data: La Romanera.
NB= LL= Lower Lens La Romanera, UL= Upper Lens La Romanera
36 Lombard Street West, Floor 4, Toronto, ON, Canada, M5C 2X3
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 Romanera and (8Km) from Infanta. Once
the cores are received at Emerita's coreshack they are photographed and geotec hnical 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 immedia tely 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, ALS 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).
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 reassayed 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:
Joaquin Merino
+34 (628) 1754 66 (Spain)
Vincent Chen
+1 778 990 9433 (Toronto)
36 Lombard Street West, 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, 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 in formation 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 cou ld 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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ADEQUACY OR ACCURACY OF THIS RELEASE.