TORONTO, Oct. 16, 2024 (GLOBE NEWSWIRE) — Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) (the “Company” or “Emerita”) has announced that its ongoing drilling Intersected significant mineralization in. Campaign at the El Cra deposit, part of the Iberia Belt West Project (“IBW” or “Project”, Figure 1), wholly owned by Emerita. The IBW is home to three previously identified volcanic massive sulfide (VMS) deposits: La Romanera, El Cura, and La Infanta. The results included in this news release are from the El Cura deposit area only.
Drill hole EC020 intersected 6.5 m grading 1.1% copper, 1.1% lead, 3.1% zinc, 73.35 g/t silver, and 1.36 g/t gold.
Drill hole EC018 intersected 4.1 m grading 0.3% copper, 0.4% lead, 0.6% zinc, 14.98 g/t silver, and 0.36 g/t gold.
Drill hole EC019 intersected 0.5 m grading 0.8% copper, 0.3% lead, 1.2% zinc, 21.00 g/t silver, and 0.36 g/t gold. This is the most westerly intercept to date at Elkula, extending the deposit 50 meters to the west.
Sulfide mineralization at El Kura continues deep to the west.
Figure 1. Location of IBW apartment buildings and deposits of La Romanera, El Cura, and La Infanta.
See Figure 1 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/9a7a5c42-c8f3-46f1-9d3f-423fd4574552
Honorary Service at El Cura
Drilling continues to expand the El Curra deposit, targeting a 200 meter gap area between recent drilling and the previously reported section with positive results to the east (Figures 2, 3 ). This recent drilling intersects the mineralization in this gap (hole EC020), indicating continuity of the mineralization. Drilling to the west interrupted the low-grade sulfide mineralization, but confirmed that the mineralized system continues to depth to the west.
Recent drilling has improved our understanding of the local geology. The deposit extends for 730 meters along strike. At depth, mineralization was tested from 70 m MSL to -220 m down to a maximum of 300 m (Figure 4).
The company plans to mobilize a third rig in the area next month to accelerate the program and increase the density of drill holes for resource estimation purposes. Assay results are shown in Table 1.
Honorary President Joaquín Merino said: We are also learning more about the structural controls of mineralization with each drill hole. Areas where faults cross the deposits tend to be lower grade and attenuated, similar to that observed in the La Infanta deposit. The thicker, higher-grade portions of El Cra offer excellent opportunities to rapidly expand the deposit. ”
Figure 2. Plan view showing the traces of the boreholes from the El Kura excavation. This NR hole trace is colored red.
Figure 2 can be viewed here: https://www.globenewswire.com/NewsRoom/AttachmentNg/95a52663-4289-4c89-b3da-053d4b71f8ae
Figure 3. Geological map of the El Kula area showing borehole locations and historical mining operations locations. Mineralization occurs in blue- and purple-colored sediments and volcanic debris.
Figure 3 can be viewed here: https://www.globenewswire.com/NewsRoom/AttachmentNg/92318b58-9005-4080-9a6a-e7ca52aa86b6
Figure 4. Drill hole penetration point projected in an east-west vertical plane facing north. Holes EC018, EC019, and EC020 are displayed in red. The lens shape (green) indicates the geometry. Green drill holes are in progress or waiting for results.
See Figure 4 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/6389bc3c-b28b-41bb-8ba2-8105e6aabe8d
Table 1: Significant intercepts from recent drilling at El Kura
DDH Easting North Altitude Azimuth Slope Depth (m)FROMTO Width (m)Cu %Pb %Zn %Au g/tAg g/tEC018649685.04171500.0127.0159-64365.4285.1289.254.10.30.40.60.3614.98 Includes 285.128 5.60.50. 92.34.31.3275.00EC019649685.04171500.0127.0178-68368.4309.15309.650.50.80.31.20.3621.00EC020649834.04171569. 0126.0179-57361.9324.9331.46.51.11.13.11.3673.35 including 327.85329.8522.32.07.02.32158.00
discussion
Excavation to date has revealed the lateral extent of a large sulfide object protruding west-southwest from near the historic mine excavation surface. The distribution of copper and gold indicates higher grades in the western extension. The deposit is still open at depth and along the western strike.
EC018 (CS 9685E) intersected moderate grade lead and zinc mineralization (4.1m grading 0.3% Cu, 0.4% Pb, 0.6% Zn, 0.36 g/t Au and 14.98 g/t Ag, 0.5m grading 0.9% Cu, 2.3% Pb, 4.3% Zn, 1.32 g/t Au, 75.00 g/t Ag) with fine-grained sulphide mineralization, ranging from large scale by mm galena-rich veins. A semi-large lens crosscut is formed. (Figure 5).
Figure 5. Core photo of EC018 polymetallic massive sulfide with galena veins.
View Figure 5 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/9a05d695-b5c9-41ab-88b2-0447fb95be02
EC019 (CS 9685E), the westernmost hole completed in the area, demonstrated the continuation of a massive sulfide lens of copper and gold into the western extent of the previous drilling extent (0.5 meter slope 0.8 % Cu, 0.36 g/t Au, 21 g/t Ag). Drilling continues at depth along this section, which is more consistent with interpreted structural trends of thicker mineralization.
Figure 6. Core photo of EC019 polymetallic massive sulfide with galena veins.
Figure 6 can be viewed here: https://www.globenewswire.com/NewsRoom/AttachmentNg/70a82217-2bcf-4937-8811-841cb8ee0475
Lateral correlation between sections CS 9685E and CS 9835E, and EC020 (CS 9832E) yields a high-grade copper and gold massive sulphide lens (6.5 m grading 1.1% Cu, 1.1% Pb, 3.1% Zn, 1.36 g /t Au, and 73.35 g/t Ag). An example of petrification from EC020 is shown in Figure 7 below. Chalcopyrite aggregates crystals within quartz veins and overlays massive to semi-massive sulphides.
Figure 7. Core photo of EC020 copper-rich massive sulfide with thin thread-like chalcopyrite veins and centimeter-long crystals.
See Figure 7 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/ba1f582e-8a21-48bf-96f6-2ddaf40eac27
Figure 8. Interpretable geological cross section 9685E.
Figure 8 can be viewed here: https://www.globenewswire.com/NewsRoom/AttachmentNg/47963929-5d3c-45f8-9293-48ea627c790d
Figure 9. Interpretable geological cross section CS 9832E.
See Figure 9 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/4049f216-9789-4553-baa1-a992bcdec0a1
next step
Drilling is driven by evidence of westward and downdip extension of the system and will be accelerated by the mobilization of a third rig. The Company aims to demarcate the El Coula mineralization and provide a preliminary Mineral Resource estimate to be included in the IBW Project’s upcoming NI 43-101 compliant Mineral Resource estimate.
In parallel with the drilling operations, downhole geophysical surveys are being conducted to assess the continuation of the massive sulphide downdip and along-strike.
Quality assurance/quality control
The drilling at El Curra will be headquarters-sized and the core will be placed in core trays at the drilling site and transported from El Curra directly to the Emerita core shack (15 kilometers). Once the core is received at Emerita’s core shack, photographs will be taken and geotechnical logging will be performed. Geological, mineralogical and structural logging is then carried out to identify mineralized zones. Samples are marked every 1 m or less to account for lithological contacts, and most samples are 1.0 m long. The zones immediately above and below the mineralized zone are also sampled. The core sample is cut in half and the core halves are returned to the core tray for future reference. Once the core samples are cut, bagged and tagged, they will be transported by honorary personnel to the ALS laboratory in Seville, where sample preparation will take place. In Seville, ALS carries out mechanical preparation of the samples before the pulp is sent to ALS Ireland (ICP) and ALS Romania (fire analysis). Analysis in the ALS Lab is compatible with the ME-ICPore (19 elements) package along with Au-AA23 Fire Analysis (Gold).
10% of the analyzed samples corresponded to control samples (fine blank, coarse blank, high, medium, and low grade standards). In addition, 10% of the pulp is reanalyzed in a second independent accredited laboratory (AGQ Lab Sevilla). Once the analysis is complete, a certificate is received from the laboratory and a QA/QC protocol identifies any deviations or anomalies in the results, in which case the entire batch is retested. Once the data is approved by the QA/QC protocol, the assay is entered digitally directly into the database.
Qualified person
The scientific and technical information contained in this news release has been reviewed and approved by Joaquin Merino, P.Geo, President of the Company and a Qualified Person as defined in NI 43-101. Masu.
About Emerita Resources Corporation
Emerita is a natural resources company engaged in the acquisition, exploration and development of mineral resources in Europe, with a primary focus on exploration in Spain. Our corporate headquarters and technical team are based in Seville, Spain, with administrative offices in Toronto, Canada.
For more information, please contact us below.
ian parkinson
+1 647 910-2500 (Toronto)
info@emeritaresources.com
www.emeritaresources.com
Caution regarding forward-looking statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes statements regarding the prospects for the IBW Project and El Coura, the timing of the analysis, the mineralization and economic viability of the IBW Project and El Coura, the IBW Project and the Company’s ability to establish the IBW Project; but not limited to. estimates of mineral resources at El Curra, our future exploration plans and our future plans; Forward-looking information generally refers to forward-looking information as “planned,” “anticipated,” “unexpected,” “anticipated,” “budgeted,” “intended,” “estimated,” ” “anticipates,” “intends,” “expects,” “does not anticipate,” or “believes,” or variations of such words or phrases, or “might” that a particular action, event, or result will occur. , “may”, “may”, “might”, “may” or “obtain”, “occur” or “achieve”. Forward-looking information is subject to known and unknown risks and uncertainties that may cause Emerita’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such information, as the case may be. may be affected by other factors that may result in Forward-looking information including, but not limited to, general business, economic, competitive, geopolitical and social uncertainties. actual results of current exploration activities; risks associated with operating in foreign jurisdictions; our ability to successfully integrate purchased assets; Risks of overseas business. Other risks inherent in mining. Although Emerita has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, Emerita has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, and which may cause results not to be as anticipated, estimated or intended. There may be other factors contributing to this. 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 undertakes no obligation to update 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 TSX VENTURE EXCHANGE) accepts responsibility for the adequacy or accuracy of this release.
