Emerita Resources (TSXV:EMO) Reports New Drill Results from La Romanera Deposit with Significant Polymetallic Mineralization

Emerita Resources (TSXV:EMO) has released new drilling results from its ongoing program at La Romanera Deposit, a part of its fully owned Iberian Belt West (IBW) project. The IBW project contains three previously identified massive sulphide deposits: La Infanta, La Romanera, and El Cura. The current results come from the La Romanera deposit and are aimed at tracing the extension of the deposit at greater depths.

The data pertains to drill holes LR154 and LR155, which intercepted polymetallic mineralization roughly 600 meters below the surface, at an elevation of approximately -450m. Both holes reveal mineralization similar in composition, featuring a high pyrite content at the hanging wall side of the lens, which changes to a more chalcopyrite-sphalerite dominant zone closer to the footwall. These intercepts are situated toward the western edge of the deposit and are about 100 meters apart. Their elevation was found to be shallower than initially expected due to a less steep dip angle in this particular area of the deposit. The true thickness of the intercepted zone is nearly 80% of the reported intercept thickness.

Three additional drill holes—LR156, LR157, and LR158—also encountered significant intervals of massive sulphides. Assays for these holes are pending and will be described in greater detail once available. LR156 showed 37.6 meters of massive sulphide, LR157 had 51.6 meters, and LR158, the western-most at this depth, had 5.5 meters.

For drill hole LR154, the grading was 6.3 meters at 0.8% Copper, 3.9% Zinc, 1.6% Lead, 2.82 g/t Gold, and 52.0 g/t Silver within a 27.6-meter grading of 0.5% Copper, 1.5% Zinc, 0.6% Lead, 1.5 g/t Gold, and 25.5 g/t Silver. Drill hole LR155 exhibited 17.2 meters grading 0.2% Copper, 1.3% Zinc, 0.5% Lead, 0.3 g/t Gold, and 19.5 g/t Silver, including 4.0 meters at higher concentrations of these metals.

The exploration team also conducted a down-hole TEM in LR155, indicating a strong geophysical anomaly continues at depth. This will be further tested by drilling. Currently, Emerita Resources is operating four rigs at La Romanera with the aim of verifying the continuity of mineralization below the current NI 43-101 mineral resource estimate. The company also aims to increase the drill density in this area for inclusion in an updated mineral resource estimate, and post-metallurgical program.

Drilling productivity is currently constrained by fire ban restrictions, which prohibit the use of heavy equipment from approximately noon to 8:00 PM. These restrictions, extended due to a particularly hot and dry summer, are expected to last until mid-October. Once lifted, the company plans to begin drilling at the Nuevo Tintillo Project, for which permits and access agreements are already in place.

Metallurgical samples for the project are being processed in a United Kingdom lab. While the grinding test work is complete, mineral separation work is now beginning. The metallurgical program is running 2-3 weeks behind schedule, with initial results now anticipated in November.

Table 1: Diamond drill hole data

DDH Easting Northing Elevation azimuth dip depth
(m)
FROM TO Width
(m)
Cu_% Pb_% Zn_% Au_g/t Ag_g/t LENS
LR154 646716 4172736 146 235 -68 680.9 640.0 667.5 27.6 0.5 0.6 1.5 1.49 25.5 LL
incl. 653.9 660.2 6.3 0.8 1.6 3.9 2.82 52.0 LL
LR155 646751 4172871 154 231 -56 782.7 725.9 743.1 17.2 0.2 0.5 1.3 0.34 19.5 LL
incl. 739.1 743.1 4.0 0.2 1.5 4.7 0.60 57.0 LL

 

 

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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