Emerita Resources Corp. (the “Company” or “Emerita”) (TSX VENTURE:EMO) along with its Spanish joint venture partner Aldesa, has been awarded exploration concessions comprising 3,600 hectares in the Santillana Syncline (the “Plaza Norte Project”), through the public tender organized by the Dirección General de Industria, Comercio y Consumo -Consejería de Innovación, Industria, Turismo y Comercio- del …

Emerita Resources Corp. (the “Company” or “Emerita”) (TSX VENTURE:EMO) along with its Spanish joint venture partner Aldesa, has been awarded exploration concessions comprising 3,600 hectares in the Santillana Syncline (the “Plaza Norte Project”), through the public tender organized by the Dirección General de Industria, Comercio y Consumo -Consejería de Innovación, Industria, Turismo y Comercio- del Gobierno de Cantabria (the Government of Cantabria, in northern Spain). The Plaza Norte Project is located in the Reocin Basin which hosts the famous Reocin mine, formerly one of the premiere zinc producers in Europe, having produced approximately 62 million tonnes grading 11% zinc and 1.4% lead.
Key Points
  • The Plaza Norte Project is immediately adjacent and hosts the extensions of the Reocin mine which produced approximately 62 million tonnes grading 11% zinc and 1.4% lead.
  • Emerita has acquired the historical data base for the Plaza Norte Project which includes more than 300 drill holes (approximately 73,000 meters of drilling) with numerous high grade intercepts such as hole 532 – 18.96 meters grading 9.72% zinc, Hole SS21 – 8.20 meters grading 7.05 zinc .
  • The rights to the Plaza Norte Project have been granted for an initial three year term with the option to renew.
  • Emerita’s joint venture partner, the Aldesa Group (“Aldesa”), is a major Spanish construction and infrastructure firm with international operations. Emerita will be the operator of the Plaza Norte Project.

Emerita participated in the tender process through a joint venture company, Cantábrica del Zinc. Emerita and Aldesa each own a 50% interest in Cantábrica del Zinc (the “JVCo”). The Aldesa Group of Companies (http://www.aldesa.es) is a specialized infrastructure construction group with over 40 years of experience in the construction industry in Spain and internationally. Emerita and Aldesa formed JVCo with its registered office in Santander for the purpose of participating in the exploration and development of the Plaza Norte Project. Under the terms of the joint venture agreement, Emerita and Aldesa will be equally represented on the board of directors of JVCo and Emerita will be the operator of Plaza Norte Project. The joint venture is focused on advancing a significant zinc project along with the government and community in Cantabria.
The parliament of Cantabria passed amendments to the law that regulates various land uses in April 2017 and created a solid legal framework intended to promote and attract mining activity in the region. Immediately following the enactment of these laws, the Government of Cantabria launched an exploration tender with the aim of attracting investment to the area of the Reocin mine and surrounding mining camp. The tender for the region encompassed a total of 460 claims comprising 13,800 hectares which were previously controlled by Asturiana de Zinc until 2003, when the Reocin mine ceased operation and the mining rights were returned to the Government of Cantabria. JVCo, through its successful tender bid, acquire 120 of these claims which were strategically selected based on its detailed review of the historical data.
Within the next four months Emerita and its partner will submit the planned exploration program to the Provincial authorities in line with the Public Tender. The exploration licences are for a three year period, and can be extended for an additional three years by the Ministry of Industry subject to compliance by filing a report of results of the exploration program.
The Plaza Norte Project
The Plaza Norte Project is located in the Cantabria Region, Northern Spain, in the Reocin mining district. The Cantabria region is characterized by first world infrastructure Including an industrial port and excellent rail and road network. Glencore has its “San Juan de la Nieva” zinc smelter in the adjacent region, Austurias, about 180 km to the west by road (Fig. 1).
To view Figure 1. Cantabria Region Northern Spain – please click on the following link: http://media3.marketwire.com/docs/Emerita_Fig_1.pdf
The Reocin mine was a past producing zinc mine and was among the richest zinc mines in the world. The mine started as an open pit and proceeded to an underground operation and after many decades was closed in 2003. Reocin is a typical Mississippi Valley type deposit, characterized by high zinc grades in sphalerite-rich layers. Historical production was 62.0M tonnes grading 11.0% Zn (Fig. 2).
To view Figure 2. Plaza Norte Project map with historical drill holes – please click on the following link: http://media3.marketwire.com/docs/Emerita_Fig_2.pdf
The Reocín mine is geologically located in the Santillana Syncline which hosts the limestone and dolomitic rocks related to the zinc (lead) deposits. The Santillana Syncline has been explored to some extent but most of the prospective part of the basin was controlled by Asturiana de Zinc since the 1980’s. Emerita has identified interesting target areas within the data base including drill intercepts such as hole 532 – 18.96 meters grading 9.72% zinc and 0.09% lead, Hole SS21 – 8.20 meters grading 7.05 zinc and 0.30 % lead.
Since mid-2016, Emerita has been compiling the historical data into a database with more than 300 drill holes and approximately 73,000 m of diamond drilling. For most of these holes, the core is also preserved in government core shack facilities. After analyzing the data, Emerita selected an area that encompasses 120 claims (3,600 hectares). This area encompasses most of the area of where exploration drill holes are located, including those with high grade intercepts.
The thickness of the mineralized orebodies varies form one meter to 20 meters. The Company has identified three high priority target areas within the selected tender land package, with multiple mineralized intercepts.
According to Joaquin Merino, P.Geo., Emerita’s President and CEO: “The granting of the Plaza Norte Project through the public tender process is a great achievement for the Emerita and Aldesa team, which initially identified the opportunity and promoted the tender. Based on a rigorous review of the drilling data, we are confident that we have selected the claims with the highest potential. We are also extremely pleased with the strong support received from the community and government to date. ”
Qualified Person
Joaquin Merino is a “qualified person” as such term is defined in NI 43-101 and has reviewed and approved the scientific and technical information included in this press release and has approved its dissemination.
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 and Brazil. The Company’s corporate office and technical teams are based in Sevilla, Spain and Belo Horizonte, Brazil with an administrative office in Toronto, Canada.
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 Plazas Norte Project, the Company’s ability to complete a financing, the mineralization of the Plaza Norte Project, the operation of JVCo, the support of the local community and governmental authorities, 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 purchased properties or mining rights awarded; 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.

Emerita Resources Corp.
Joaquin Merino
+34 (628) 1754 66 (Spain)
Helia Bento
+1 416 309 4293 (Toronto)
info@emeritaresources.com
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Catch up and get informed with this week's content highlights from Charlotte McLeod, our editorial director.

Top Stories This Week: Powell Gets Fed Nomination, Using Gold in a Market Correction youtu.be

We're back after a break last week with quite a bit to cover in the gold space.

After running up past the US$1,860 per ounce mark midway through November, the yellow metal has taken a tumble. At the time of this writing on Friday (November 26) afternoon, it was sitting just under US$1,790.

Gold's losses this week have been attributed to elements like a stronger US dollar and better Treasury yields, although Jerome Powell's US Federal Reserve chair renomination has pulled other factors into play — some market watchers believe he may move to taper and raise interest rates faster than anticipated.


If the Fed follows its previously laid out timeline for tapering, it will wrap up in mid-2022; the central bank has said it won't raise rates until after that. It has also emphasized that its roadmap may change if necessary.

Looking at the larger picture for gold, I heard recently from Nick Barisheff of BMG Group, who believes the stock market is due for a major correction.

"The market is due for a major correction. What will cause it and when it will happen is anybody's guess — it could be tomorrow, it could be six months from now" — Nick Barisheff, BMG Group

It's impossible to know when this correction will happen, but Nick emphasized the importance of acting before it's too late. He pointed out that investors are typically slow to get out of the market once a crash actually begins — they wait for a turnaround, and by the time it's clear there won't be one, they've experienced big losses.

In his opinion, the solution is to get out of the stock market early and transfer money into gold.

Here's how Nick explained it:

"Instead of taking your money off the table and going into cash … you go to gold (because cash is devaluing daily). Gold will at least hold its own and probably appreciate … so by sitting it out in gold you can wait until the market finishes correcting and then buy back in" — Nick Barisheff, BMG Group

With gold's future in mind, we asked our Twitter followers this week what price they think the metal will be at the end of 2021. By the time the poll closed, most respondents had voted for the US$1,800 to US$1,900 range.

We'll be asking another question on Twitter next week, so make sure to follow us @INN_Resource or follow me @Charlotte_McL to share your thoughts.

Finally, in the cannabis space, INN's Bryan Mc Govern spoke with Dan Ahrens of AdvisorShares to get his thoughts on 2021 trends and what's ahead in 2022.

Dan was candid, and said if he had to choose one word to describe the cannabis market in 2021, it would be "painful." Like many others, he's been disappointed in the industry's performance — while positivity initially ran high due to excitement about potential federal changes in the US, ultimately progress has been slow.

"Cannabis started with a big run-up in January and February ... and things dragged from there" — Dan Ahrens, AdvisorShares

Still, Dan has hope for 2022 and said it will be a "huge year" for cannabis. He believes US reforms will come sooner rather than later, and in his opinion those widely anticipated changes will bring a wave of M&A activity.

Specifically, he expects to see alcohol, tobacco and other consumer packaged goods companies making deals with cannabis players, not just cannabis entities doing transactions with each other.

"Those big alcohol companies, tobacco companies, other consumer packaged goods product companies — they're waiting. They're waiting on the US" — Dan Ahrens, AdvisorShares

Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.

And don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

cannabis plant layered with German flag graphic
Dmytro Tyshchenko / Shutterstock

Catch up on some of the biggest news of the week for the cannabis investment world.

Three political parties have formed a coalition in Germany, leading to a new government, and it has promised cannabis reform in the European nation.

Meanwhile, a popular cannabis retailer confirmed consumers will now find its products available for delivery on the Uber Eats mobile application in Ontario.

Keep reading to find out more cannabis highlights from the past five days.


Coalition of parties promises forward-looking cannabis policy

Germany, a country with comprehensive and elaborate medicinal rules for cannabis, is in a time of transition as a new government is set to begin to take over after 16 years of Angela Merkel.

Olaf Scholz, the proposed next chancellor of Germany, leads a three party coalition that will become the country's governing body. As part of its promises, talk of adult-use cannabis regulation has now gained even more momentum. A report from MJBizDaily quotes a German policy document that shows the coalition's stance:

"We are introducing the controlled distribution of cannabis to adults for consumption purposes in licensed shops. This controls the quality, prevents the transfer of contaminated substances and guarantees the protection of minors."

However, despite the promise and excitement, it remains to be seen how these ideas will be applied since no formal regulations have been drafted or approved yet.

Canadian cannabis retailer partners with popular delivery app

Tokyo Smoke, a cannabis retail operator in Canada owned by Canopy Growth (NASDAQ:CGC,TSX:WEED), announced a collaboration agreement with Uber Canada (NYSE:UBER) whereby cannabis consumers will be able to use the Uber Eats app to order products before they visit stores.

While the app won't let consumers get cannabis delivered to them, this new method opens the doors to more dynamic ways of buying cannabis.

"As a market leader in innovation and a platform used by so many Canadians, we believe this is the ideal next offering that can be done safely and conveniently on the Uber Eats app," Mark Hillard, vice president of operations with Tokyo Smoke, said in a press release.

A report from the Canadian Press indicates Ontario is considering allowing dispensaries to have delivery and pickup options made available to consumers permanently. The province allowed some of these purchasing options at the outset of the COVID-19 pandemic, but then removed them.

Lola Kassim, general manager of Uber Eats Canada, said this new end-to-end experience will provide consumers with responsible access to legal cannabis products.

Cannabis company news

  • Organigram Holdings (NASDAQ:OGI,TSX:OGI) issued financial results for its Q4 2021 period. In its report, the company notes a net loss of C$26 million despite a 22 percent uptick in net revenue to C$24.9 million. Beena Goldenberg, the newly appointed CEO of the firm, is encouraged by the market share position earned by the company, which said it became the fourth biggest producer in Canada during the reporting period.
  • Halo Collective (NEO:HALO,OTCQB:HCANF) confirmed the decision for Akanda, its spinoff company focused on international cannabis opportunities, to begin trading on a US exchange. "The number of shares to be offered and the price range for the proposed offering have not yet been determined," the company told investors in a press release.
  • High Tide (NASDAQ:HITI,TSXV:HITI) announced the acquisition of 80 percent of NuLeaf Naturals, a CBD product wellness developer, for an estimated US$31.24 million. The deal includes a three year option clause for High Tide to complete a total acquisition. "As international markets open up and as export regulations evolve, NuLeaf's cGMP-certified facility positions us to take advantage of the global CBD business opportunity," Raj Grover, president and CEO of High Tide, said.
  • Humble & Fume (CSE:HMBL,OTC Pink:HUMBF) released the financial report for its first 2022 fiscal quarter to shareholders and the market. "As the legal cannabis market in North America continues to mature, Humble remains agile and focused on providing a leading solution for brands to scale quickly and retailers to focus on their customers," Joel Toguri, CEO of Humble, said.

Don't forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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