Emerita Resources Releases Drill Hole Data from Romanera Deposit and Updates Permitting Process at Paymogo / Romanera Project, Spain
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
EMERITA RESOURCES RELEASES DRILL HOLE DATA FROM ROMANERA DEPOSIT AND UPDATES
PERMITTING PROCESS AT PAYMOGO / ROMANERA PROJECT, SPAIN
Toronto, Ontario, October 15, 2020 – Emerita Resources Corp. (TSX-V: EMO) (the “Company” or “Emerita”)
has completed the digital compilation of the historical hard copy data for the Romanera Deposit, including
for assay data, drill hole surveys and geological coding that will be required to develop 3D models. Romanera
is the larger of the two known deposits occurring on the Paymogo/Romanera Project (the “Project”) and
occurs approximately 8 kilometers to the west of the Infanta Deposit (see news release September 9, 2020).
The selected intervals are hosted within thicker zones of lower grade massive sulphide mineralization and
as such do not correspond directly to the intervals described in Table 2 at the end of this release. A complete
list of mineralized intercepts and hole locations are included in Table 2 . For collar locations refer to Figure
3 below.
HOLE ID FROM TO WIDTH Au_g/t Ag_g/t Cu_% Pb_% Zn_%
5590 256 258 2.0 7.80 74.00 0.58 2.80 8.40
5615 158 172 14.0 1.11 32.14 0.35 3.48 6.65
5624 70 76 6.0 2.20 81.00 0.20 2.60 5.13
5681 192 194 2.0 5.40 156.00 0.32 3.40 9.20
5714 562 574 12.0 1.08 68.00 0.15 3.70 9.08
5715 482 490 8.0 1.48 81.25 0.22 2.79 7.03
5874 574 584 10.0 2.70 129.60 0.21 5.22 10.00
C1 91.8 99.8 8.0 213.65 0.25 4.33 6.35
C2 165.4 171.7 6.3 92.06 0.28 4.74 10.84
C4 299.3 307.2 7.9 66.57 0.48 3.45 8.84
Table 1: Highlights from the historical drilling at the Romanera Deposit.
Permitting Update
The Company has filed its work program with the appropriate regulators in Huelva Province in support of
acquiring permits to commence the diamond drill program on the Project. The application process in Spain
requires a comprehensive exploration plan as well as a reclamation plan and that the reclamation plan for
the drill pads must be published on the government web site for public viewing for a period of 30 days prior
to issuing the permits. Once issued , the permits are valid for the duration of the license. The proposal
contemplates drilling will commence at the Infanta deposit initially and a mineralized zone ca lled El Cura
that occurs along strike to the west from Infanta.
Emerita has held meetings with local municipalities and the local landowners and has received their support
to proceed with the program subject to completing the permitting process. Emerita is using experienced
environmental consultants that have permitted numerous such programs to streamline the process. All
areas have been subject to drill programs in the past with no issues. Provided the prescribed process
continues to be followed by the Company, the permits are expected to be forthcoming.
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
About the Romanera Deposit
The Project occurs within the famous Iberian Pyrite Belt, one of the most highly mineralized volcanogenic
massive sulfide (VMS) terranes in the world. The Project is located in the western part of the belt, adjacent
to the border with Portugal, approximately 70 km west of Seville and 50 km from the port city of Huelva
(Figure 1). The Project extends along a strike length of approximately 18 km. Access is excellent via paved
and all-weather gravel roads. Within the Project area, several base metal occurrences have been identified
by previous exploration, the most significant of which are the Romanera and the La Infanta base metal
deposits.
Figure 1: Location of the Paymogo Project.
The Romanera deposit was drilled by Asturiana de Zinc (“Asturiana”) in the 1960’s and by Minera Rio Tinto
(“Rio”) in the 1990 ’s and is reported to contain 34 million tonnes grading 0.42% copper, 2.20% lead, 2.3%
zinc 44.4g/t silver and 0.8 g/t gold within which there is a higher grade resource of 11.21 million tonnes
grading 0.40% copper, 2.47% lead, 5.50% zinc, 64.0 g/t silver and 1.0 g/t gold (The Volcanic Hosted Massive
Sulphide Deposits of the Iberian Pyrite Belt, Garcia- Cortes ed., 2011). A qualified person, as defined in
National Instrument 43 -101, has not done sufficient work on behalf of Emerita to classify the historical
estimate reported above as current mineral r esources or mineral reserves and Emerita is not treating the
historical estimate as current mineral resources or mineral reserves. The historical estimate should not be
relied upon. The deposit extends from surface to approximately 350 meters depth based on historical
drilling. The mineralization remains open for further expansion down dip beyond the limits of the existing
drilling. The deposit is locally quite rich in precious metals with sections that grade between 3 g/t and up to
5.5 g/t gold (see new s release August 10, 2020) . The drill holes completed by Asturiana were not assayed
for gold.
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
The deposit is a relatively thick massive sulphide zone that varies between approximately 20 meters and 25
meters thick and dips approximately - 70 degrees. It has been drilled from surface to approximately 350
meters vertical depth and is more than 20 meters thick at the deepest intersection (see Figure 2) and has
been drilled approximately 750 meters along strike. There is a hangingwall lens that is less continuous and
ranges from approximately 8 meters to 15 meters in thickness and is situated approximately 15 -20 meters
into the hangingwall of the main deposit with a similar dip. Below are highlights from the historical drilling
and the complete list of data that the Company has for the Romanera Deposit is included at the end of this
news release.
Figure 2: Representative section of the Romanera massive sulphide deposit.
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
Figure 3: Diamond drill hole collar locations.
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
The intervals listed below are based on a relatively low cut off grade. As the Project progresses, the intervals
will be composited to represent possible mining criteria. The widths listed are core widths, true widths will
be calculated when the 3D models are constructed. Lower grade massive sulphide intervals have not been
included as part of the mineralized intervals.
HOLE
ID FROM TO WIDTH Au_g/t Ag_g/t Cu_% Pb_% Zn_% X Y Z DIP AZIMUTH
5590 180 196 16.0 1.36 30.25 1.12 0.13 0.22 646635 4172492 146.7 -65 200
5590 238 264 26.0 1.52 32.92 0.51 1.07 2.62 646635 4172492 146.7 -65 200
5615 152 186 34.0 1.61 35.47 0.23 2.03 3.98 646619 4172445 146.1 -65 200
5624 46 48 2.0 1.80 38.00 0.26 0.94 3.20 646597 4172379 146.8 -65 200
5624 66 78 12.0 1.53 59.50 0.23 1.56 3.03 646597 4172379 146.8 -65 200
5650 104 106 2.0 1.20 46.00 0.16 1.78 2.80 646830 4172391 150.2 -65 200
5650 132 138 6.0 1.30 50.67 0.24 1.85 4.62 646830 4172391 150.2 -65 200
5670 174 178 4.0 0.45 34.50 0.19 1.60 4.30 647037 4172351 147.3 -65 200
5681 192 196 4.0 2.20 55.00 0.12 1.16 3.60 646850 4172446 151.1 -65 200
5681 276 280 4.0 1.25 26.00 0.05 0.86 1.11 646850 4172446 151.1 -65 200
5699 210 212 2.0 1.60 46.00 0.20 1.60 7.60 646953 4172446 151.6 -65 200
5699 266 272 6.0 0.67 44.33 0.21 1.52 2.87 646953 4172446 151.6 -65 200
5699 280 282 2.0 0.60 92.00 0.10 2.88 6.20 646953 4172446 151.6 -65 200
5701 0 2 2.0 5.80 34.00 0.26 0.28 0.10 646646 4172317 149.4 -65 200
5703 2 6 4.0 1.60 70.75 0.03 0.64 0.04 646587 4172333 143.5 -65 200
5704 22 24 2.0 0.40 8.00 0.12 12.00 0.04 646591 4172346 144.4 -65 200
5709 0 2 2.0 2.30 150.00 0.04 4.26 0.10 646585 4172327 143 -65 200
5714 560 580 20.0 0.87 62.80 0.22 3.03 7.30 646709 4172714 146.8 -65 200
5715 468 492 24.0 1.55 143.00 0.35 2.39 3.61 646797 4172623 152.3 -65 200
5716 378 380 2.0 2.00 60.00 0.70 0.74 0.28 646681 4172614 151.5 -65 200
5716 392 402 10.0 0.86 47.80 0.80 0.98 1.04 646681 4172614 151.5 -65 200
5716 408 412 4.0 1.15 39.00 0.34 0.45 0.70 646681 4172614 151.5 -65 200
5716 426 430 4.0 0.55 49.50 0.11 1.80 1.96 646681 4172614 151.5 -65 200
5726 8 20 12.0 1.38 58.33 0.04 0.94 0.06 646589 4172339 144.1 -65 200
5730 10 12 2.0 2.80 116.00 0.04 1.62 0.02 646773 4172307 151.7 -65 200
5757 558 582 24.0 0.37 27.17 0.37 1.52 6.87 646826 4172704 152.1 -65 200
5873 342 350 8.0 0.75 44.25 0.34 2.07 0.53 646762 4172531 153.7 -65 200
5873 352 356 4.0 1.30 68.00 0.40 0.69 0.26 646762 4172531 153.7 -65 200
5873 358 380 22.0 1.19 71.00 0.27 0.97 1.57 646762 4172531 153.7 -65 200
5874 546 562 16.0 1.61 55.63 0.45 0.73 0.30 646626 4172765 144.5 -65 200
A1 82.6 92.6 10.0 98.37 0.37 1.24 1.19 646712 4172393 150.4 -49 200
A1 94.6 98.2 3.6 107.50 0.23 5.49 9.67 646712 4172393 150.4 -49 200
A2 138.5 139.5 1.0 57.00 0.48 0.40 2.83 646726 4172432 150.9 -49 200
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
HOLE
ID FROM TO WIDTH Au_g/t Ag_g/t Cu_% Pb_% Zn_% X Y Z DIP AZIMUTH
A2 140.5 142.5 2.0 109.80 0.20 3.36 2.63 646726 4172432 150.9 -49 200
B2 157 174 17.0 67.47 0.29 2.66 5.72 646666 4172456 148.3 -49 200
B2 175 178 3.0 37.00 0.24 1.35 2.76 646666 4172456 148.3 -49 200
B2 179 186 7.0 65.57 0.43 1.49 3.76 646666 4172456 148.3 -49 200
B3 218.3 220.3 2.0 97.00 0.32 1.43 1.68 646683 4172499 149.3 -49 200
B3 220.8 231.8 11.0 108.64 1.31 1.93 1.85 646683 4172499 149.3 -49 200
B3 233.6 235.6 2.0 231.00 0.81 3.21 4.04 646683 4172499 149.3 -49 200
B3 236.6 240 3.4 34.26 0.14 1.65 2.85 646683 4172499 149.3 -49 200
B3 241 246 5.0 39.00 0.18 0.61 2.43 646683 4172499 149.3 -49 200
B3 249 251 2.0 30.00 0.13 0.80 3.15 646683 4172499 149.3 -49 200
B3 252 254.1 2.1 29.05 0.15 1.18 4.98 646683 4172499 149.3 -49 200
C1 90.2 90.4 0.2 23.00 0.04 0.05 0.20 646571 4172413 146.1 -49 200
C1 90.8 102.1 11.3 198.90 0.33 3.79 5.79 646571 4172413 146.1 -49 200
C2 152.4 155.4 3.0 135.33 0.36 1.34 1.17 646588 4172463 146.6 -49 200
C2 156.4 171.7 15.3 81.57 0.26 3.37 6.90 646588 4172463 146.6 -49 200
C2 182 186 4.0 58.50 0.32 1.93 4.29 646588 4172463 146.6 -49 200
C2 189 190 1.0 14.00 0.31 1.39 2.30 646588 4172463 146.6 -49 200
C3 192 198.9 6.9 84.57 0.36 1.85 3.66 646609 4172520 146.5 -49 200
C3 224 240.9 16.9 153.81 0.40 3.04 5.20 646609 4172520 146.5 -49 200
C4 244.6 245.6 1.0 53.00 1.01 3.00 1.35 646628 4172572 149.3 -49 200
C4 246.6 260.8 14.2 67.74 0.31 2.57 5.37 646628 4172572 149.3 -49 200
C4 282.3 307.2 24.9 86.94 0.50 2.96 6.45 646628 4172572 149.3 -49 200
C5 299.9 301.5 1.6 8.11 6.93 0.03 0.21 646648 4172627 151.1 -49 200
C5 318 322.3 4.3 19.00 0.45 2.14 2.88 646648 4172627 151.1 -49 200
C5 349.5 352 2.5 40.42 2.92 0.68 0.92 646648 4172627 151.1 -49 200
C5 355 361 6.0 22.83 1.39 1.20 2.20 646648 4172627 151.1 -49 200
C6 354.5 355.8 1.3 234.00 0.66 5.07 8.58 646663 4172665 150.4 -49 200
C6 359.3 366.7 7.4 243.95 0.58 5.02 3.65 646663 4172665 150.4 -49 200
C6 371.7 374.4 2.7 309.26 0.70 5.27 1.09 646663 4172665 150.4 -49 200
C6 375.8 378 2.2 341.18 0.65 5.55 0.32 646663 4172665 150.4 -49 200
C6 383.2 384.7 1.5 150.00 0.39 3.53 10.04 646663 4172665 150.4 -49 200
C6 391.5 393.5 2.0 15.50 0.71 0.34 2.78 646663 4172665 150.4 -49 200
C6 397.5 398.5 1.0 78.00 1.84 0.08 0.60 646663 4172665 150.4 -49 200
C6 399.5 400.5 1.0 30.00 0.45 0.55 2.15 646663 4172665 150.4 -49 200
C7 492 493 1.0 102.00 0.34 0.70 0.38 646698 4172754 145.9 -49 200
C7 495 499 4.0 57.75 0.32 2.50 1.34 646698 4172754 145.9 -49 200
C7 502.9 505.6 2.7 86.37 0.29 1.63 3.54 646698 4172754 145.9 -49 200
D4 266 267.1 1.1 117.70 0.19 2.83 8.62 646555 4172590 145 -49 200
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
HOLE
ID FROM TO WIDTH Au_g/t Ag_g/t Cu_% Pb_% Zn_% X Y Z DIP AZIMUTH
D4 267.6 270.5 2.9 133.97 0.29 0.75 3.30 646555 4172590 145 -49 200
D4 299.7 300.6 0.9 432.00 0.58 8.71 5.99 646555 4172590 145 -49 200
D5 353.3 355.6 2.3 131.10 1.27 2.62 2.00 646597 4172691 146.9 -49 200
D5 356.7 357.3 0.6 51.60 0.24 0.94 1.33 646597 4172691 146.9 -49 200
D5 361.9 363.8 1.9 347.70 0.61 5.40 11.89 646597 4172691 146.9 -49 200
D5 382.5 385.7 3.2 163.20 1.44 9.25 20.54 646597 4172691 146.9 -49 200
D5 234.3 238.9 4.6 188.26 0.30 2.88 7.25 646597 4172691 146.9 -49 200
E3 239.7 241.7 2.0 89.00 0.26 1.58 1.48 646480 4172573 144.4 -49 200
E3 242.7 243.7 1.0 48.00 0.43 0.44 1.55 646480 4172573 144.4 -49 200
E3 244.7 245.1 0.4 20.00 0.15 0.48 0.69 646480 4172573 144.4 -49 200
F2 136.7 137 0.3 21.90 0.10 0.40 0.85 646393 4172535 141 -49 200
G3 222.4 222.7 0.3 44.40 0.06 1.86 2.25 646347 4172625 137 -49 200
Table 2: Historical diamond drill hole data, Romanera Deposit.
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:
Helia Bento
+1 (416) 566-8179 (Toronto)
Joaquin Merino
+34 (628) 1754 66 (Spain)
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
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 regarding the
mineralization of the Project, the Company’s ability to develop the Project, the Company’s ability to obtain
drill permits, the prospectivity of the Project, the Company’s ability to complete a NI 43 -101 resource
estimate at the Project 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 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
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