Emerita announces 14.07 MT Indicated Resource grading 3.29% Zn, 1.66% Pb, 0.46% Cu, 75.2 g/t Ag and 1.39 g/t Au  and 4.71 MT Inferred Resource at 4.70% Zn, 2.14% Pb, 0.54% Cu, 72.4% Ag, 0.90 g/t Au . Deposits remain open and drilling continues

Emerita announces 14.07 MT Indicated Resource grading 3.29% Zn, 1.66% Pb, 0.46% Cu, 75.2 g/t Ag and 1.39 g/t Au and 4.71 MT Inferred Resource at 4.70% Zn, 2.14% Pb, 0.54% Cu, 72.4% Ag, 0.90 g/t Au . Deposits remain open and drilling continues

Emerita Resources Corp. (TSX V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") is pleased to announce the maiden independent NI 43-101 compliant resource estimate based on drill results from the 2022-23 resource delineation drilling program at La Romanera and La Infanta deposits, part of Emerita's wholly owned Iberian Belt West project ("IBW" or the "Project"). Mineral Resource estimation was completed by Wardell Armstrong International Limited ("WAI") using drillhole databases and geological models developed by the Emerita geology team and subsequently verified and refined in collaboration with WAI. WAI has considerable experience working with deposits in the Iberian Belt and has completed similar studies for producing operations in the region. IBW hosts three previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura. Initial exploration work has recently commenced at El Cura and all deposits are open for expansion along strike and at depth. Drilling is expected to continue at IBW through 2023 and into 2024 targeting continued expansion of the IBW resource. Metallurgical testing of the deposits is commencing.

Resource Estimate Criteria

In calculating the resource estimate, WAI used a cut off grade of 3% Zinc equivalent ("ZnEq"). In order to calculate the ZnEq grade, the QP consulted with metallurgists within the WAI team to establish appropriate recoveries to use for the estimate based on prior experience in the Iberian Belt and similar deposits. It is important to note that the recovery factors used in the estimate are not based on metallurgical test data as this work is not yet completed. The metal recoveries are based on representative results from other deposits in the belt. La Romanera is a unique deposit within the Iberian pyrite belt in that a significant portion of the deposit has highly elevated gold values relative to other deposits in the region. As such, there is not a good metallurgical analogy for the recovery of gold from higher grade gold mineralization in the region. The high gold grades are not ubiquitous throughout the deposit such that the overall gold grade reported represents a weighted average of higher grade and lower grade mineralization. For the ZnEq calculation, the gold recovery factor used was 20%. An important opportunity and challenge for the Company will be to work with its metallurgical consultants to improve the gold recoveries from the gold enriched portions of the deposit. Such an improvement could positively add to the ZnEq grade and tonnage at La Romanera.

Resource Highlights:

  • Iberia Belt West Initial Mineral Resource Estimate ("MRE")
    • Indicated 14.07 million tonnes ("MT") grading 3.29% Zn, 1.66% Pb, 0.46% Cu, 75.2 g/t Ag and 1.39 g/t Au (7.63% ZnEq)
    • Inferred 4.71 MT grading 4.70% Zn, 2.14 % Pb, 0.54% Cu, 72.4 g/t Ag and 0.90 g/t Au (9.29% ZnEq)
  • La Romanera
    • Indicated 13 MT grading 2.98% Zn, 1.45% Pb, 0.42% Cu, 74.1 g/t Ag and 1.48 g/t Au (7.08% ZnEq)
    • Inferred 3.14 MT grading 4.85% Zn, 1.96 % Pb, 0.45% Cu, 71.3 g/t Ag and 1.16 g/t Au (9.16% ZnEq)
    • The La Romanera mineral resource estimate was calculated using data from 144 holes comprising 52,750 meters of drilling.
  • La Infanta
    • Indicated 1.07 MT grading 7.10% Zn, 4.24% Pb, 1.03% Cu 88.5 g/t Ag and 0.32 g/t Au (14.32% ZnEq)
    • Inferred 1.56 MT grading 4.41% Zn, 2.49% Pb, 0.74% Cu, 74.7 g/t Ag and 0.38 g/t Au (9.55% ZnEq)
    • The La Infanta mineral resource estimate was calculated using data from 86 holes comprising 19,565 m of drilling.
  • Mineralization remains open at both deposits
    • The MRE confirms the resource starts at or near surface and remains open for expansion at depth and along strike.
  • Next steps
    • La Romanera and La Infanta deposits occur approximately 6km from each other. Near-term focus for the Emerita exploration team is to continue to expand the mineralization at La Romanera and explore the area between the two deposits with particular focus on the historic El Cura target. Drilling of El Cura has commenced.
    • Metallurgical sampling program, La Romanera and La Infanta commencing.

David Gower, P.Geo., CEO of Emerita stated, "The last 12 months have been a busy and exciting time for the Spain based Emerita exploration team. It is a credit of the team to be able to release our first NI 43-101 compliant resource estimate for the IBW project in a compressed time frame given drilling commenced on La Romanera only last summer. This represents an interim mineral resource estimate as work continues to expand the resources at IBW. The recent exploration mapping, drilling and geophysical surveys demonstrate both La Romanera and La Infanta remain open along strike and at depth. This coupled with targets associated with the recently expanded land position provides a lot of additional targets for new discoveries. Metallurgical test work is commencing which will inform a key component of a future economic study of IBW while we continue to explore."

Table 1: Resource Table

The following table summarizes the maiden Mineral Resource Estimate for the Iberian Belt West (IBW) Project:

Average Grade Metal Content
Deposit Class Tonnes Zn Pb Cu Ag Au ZnEq Zn Pb Cu Ag Au ZnEq
Mt % % % g/t g/t % kt kt kt koz koz kt
La Romanera

Indicated 13.00 2.98 1.45 0.42 74.1 1.48 7.08 387 188 54 30,979 617 920
Inferred 3.14 4.85 1.96 0.45 71.3 1.16 9.16 153 62 14 7,205 117 288
La Infanta

Indicated 1.07 7.10 4.24 1.03 88.5 0.32 14.32 76 45 11 3,051 11 154
Inferred 1.56 4.41 2.49 0.74 74.7 0.38 9.55 69 39 12 3,758 19 149
IBW Project

Indicated 14.07 3.29 1.66 0.46 75.2 1.39 7.63 463 233 65 34,030 629 1,074
Inferred 4.71 4.70 2.14 0.54 72.4 0.90 9.29 222 101 26 10,963 137 438

Notes:

  1. Mineral Resources are classified according to definitions outlined in CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines (CIM, 2014);
  2. The effective date of the Mineral Resource Estimate for La Romanera is May 4, 2023 and the effective date of the Mineral Resource Estimate for La Infanta is April 30, 2023;
  3. Mineral Resources are reported at a cut-off grade of 3.0% zinc equivalent (ZnEq) where;
    1. ZnEq = [(Zn grade * Zn recovery * Zn price) + (Pb grade * Pb recovery * Pb price) + (Cu grade * Cu recovery * Cu price) + (Ag grade * Ag recovery * Ag price) + (Au grade * Au recovery * Au price)] / (Zn recovery * Zn price);
    2. Long term price assumptions are US$3000/t Zn, US$2300/t Pb, US$9500/t Cu, US$25/oz Ag and US$1800/oz Au;
    3. Metallurgical recovery assumptions are 100% Zn, 80% Pb, 80% Cu, 80% Ag and 20% Au. 100% Zn recovery ensures ZnEq grade > Zn grade for all blocks;
  4. At La Infanta, blocks less than 3.0% ZnEq when diluted over a 3m minimum mining width were excluded from the Mineral Resource. Thickness at La Romanera typically exceeds 3m;
  5. Only primary sulphide mineralisation is included in the Mineral Resources;
  6. Metal grade and content represents contained metal in the ground and have not been adjusted for metallurgical recovery or mining dilution;
  7. Mineral Resources are not Reserves until they have demonstrated economic viability based on a pre-feasibility study or feasibility study;
  8. Numbers may not add due to rounding.
  9. The Qualified Person for the La Romanera and La Infanta Mineral Resource Estimates is Dr. Phil Newall, BSc (ARSM), PhD (ACSM), CEng, FIMMM of WAI, a Qualified Person as defined by NI 43-101.

Resource Estimation Details and Methodology

Mineral Resource estimation was completed by Wardell Armstrong International Limited using drillhole databases and geological models developed by the Emerita geology team and subsequently verified and refined in collaboration with WAI. Software utilised included MX Deposit® (database & QAQC), Leapfrog Geo® (geological model), Snowden Supervisor® (statistical & geostatistical analysis) and Leapfrog Edge® (estimation).

The resource estimation methodology involved the following process:

  • Database verification;
  • Construction of wireframe models for massive sulphide lenses and weathering profile;
  • Definition of resource domains;
  • Data conditioning via compositing and top-cuts;
  • Variography;
  • Block modelling;
  • Grade and density interpolation;
  • Model validation and Resource classification; and
  • Assessment of reasonable prospects for eventual economic extraction (RPEEE).

La Romanera and La Infanta are classified as volcanic-hosted massive sulphide (VHMS") deposits and occur as tabular strata-bound lenses of polymetallic (Zn, Pb, Cu, Ag, Au) massive sulphides. Drilling has so far defined five sulphide lenses used as estimation domains in Resource modelling: The Upper and Lower Lens at La Romanera and the North, South and South 1 Lenses at La Infanta. Input drillhole data was restricted to surface diamond drilling completed by Emerita from 2022 to 2023.

Drillhole samples were flagged by domain, composited to regular lengths and top-cuts applied to isolated outlier values. Variography was conducted on the composite data for each variable within each estimation domain.

Grades were estimated into block models sub-celled to the estimation domain boundaries. Grade and density estimation were conducted using ordinary kriging (OK) for most domains. Inverse Distance Squared (IDW2) was carried out in the La Infanta South 1 domain, where the number of composites was insufficient for effective variogram modelling. Hard boundaries were applied to constrain the interpolation. The estimates were run in a three-pass plan, using progressively larger search neighbourhoods. Distance based top-cuts were applied in higher estimation passes to limit grade extrapolation.

Estimated grades were validated globally, locally, and visually prior to classification. No material issues with the grade interpolation were identified. Classification has been limited to contiguous regions where nominal drill spacing is 50m or less for Indicated Resources and 100m or less for Inferred Resources.

Mining, processing and long-term price assumptions were used to evaluate the proportion of the block models that could reasonably be expected to be economically mined. A 3.0% ZnEq cut-off was selected in line with extraction via conventional underground mining methods. Thinner zones of mineralisation are present at La Infanta and reporting was further restricted to exclude blocks below 3.0% ZnEq when diluted over a 3m minimum mining width. The ZnEq calculation includes metallurgical recovery assumptions for each metal. Initial metallurgical test work is commencing and WAI has used recoveries within the range of other Iberian Pyrite Belt deposits and informed by review of petrographic studies. WAI cautions that changes in metallurgical recovery and/or payability assumptions could significantly impact the MRE.

The Mineral Resource Estimate was supervised and reported by Dr. Phil Newall, BSc (ARSM), PhD (ACSM), CEng, FIMMM, in accordance with definitions outlined in CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines (CIM, 2014). Dr. Newall is a Qualified Person as defined by NI 43-101 and undertook site inspections in October 2022 and March 2023. The MRE will be supported by a NI 43-101 independent technical report which will be published and filed on the Company's website and SEDAR profile within 45 days. The NI 43-101 report will include detailed information on the key assumptions, parameters and methods used to estimate the Mineral Resources.

IBW Geology and Mineralization

The 20km 2 Iberian Belt West (IBW) property is located in the south of Spain, approximately 10km from the national border with Portugal. It is part of the Iberian Pyrite Belt (IPB), a globally significant mineralized trend constituting the world's highest concentration of volcanic-hosted massive sulphide deposits (VHMS) spanning east-west from Sevilla to Lisboa. Within the Project area there are several polymetallic (Cu-Zn-Pb-Au-Ag) deposits, including Romanera, Infanta and El Cura, that have been exploited intermittently over the last 2,000 years.

The geology of the IBW claim block comprises a mixed sequence of extrusive and intrusive volcanic rocks, volcaniclastic and marine sedimentary rocks that were folded and thrusted during the Variscan orogeny. The massive sulphide lenses at Romanera and Infanta are localized within the volcaniclastics and sediments, near to the contact with massive, felsic volcanics. The mineralized horizon is structurally repeated along the ~10km length of IBW, defining several prospective corridors that are the focus of current exploration within the project areas.

At La Romanera, two steeply dipping massive sulphide lenses ranging between 2.0m and 32.0m in thickness strike west-northwest over at least 700m as currently defined. Stratigraphy is tightly folded, overturned to the south, and plunges gently to the west. Deep drilling is in progress to define the lower limits of these lenses, following down-dip extensions and indications from down-hole geophyics.

At Infanta, over a kilometer of shallow ancient workings along the contact between felsic volcaniclastics and tuffaceous shales define the mineralized horizon. These workings were confined to the hangingwall of a thrust fault, within 20m of surface, whereas the reported resource is to the footwall of the thrust and extends as two lenses to a depth of at least 350m below surface.

Romanera Mineralization

The 2023 Resource Estimate includes two lenses, showing a style of mineralization typical of VHMS deposits:

  • Upper Lens. Massive to semi-massive sulphide mineralization.
  • Lower Lens. Underlies the Upper Lens and consists of massive to semi-massive sulphide mineralization.

No stockwork-style mineralization is recognized in the deposit.

The Upper Lens massive sulphide is a continuous mineralized horizon which varies approximately from 2.0 to 32.0m in true thickness and averages 10.0m overall, with a strike length of 700m approximately.

The Lower Lens massive sulphide is a continuous mineralized horizon which varies approximately from 2.0 to 30.0m in true thickness and averages 13.0m overall, with a strike length of 720m.

The Upper Lens massive sulphide and the underlying Lower Lens are locally both separated and in contact with one another throughout the Deposit. The Deposit dips at approximately 70 degrees from surface for a down-dip length of approximately 675m (Upper Lens) and 720m (Lower Lens).

The Upper Lens occurs approximately 2.0 to 30.0 m in the hanging wall above the Lower Lens.

Infanta Mineralization

The 2023 Resource Estimate includes three blocks, showing a style of mineralization mainly typical of VHMS deposits:

  • North Block. Disseminated to massive sulphide mineralization.
  • South Block. Underlies the North Block and consists of disseminated to massive sulphide mineralization.
  • South Block 1. Underlies the South Block and consists of disseminated to massive sulphide mineralization.

No stockwork-style mineralization is recognized in the deposit.

The North Block massive sulphide is a continuous mineralized horizon which varies approximately from 1.0 to 10.0m in true thickness and averages 3.0 m overall, with a strike length of 1900m.

The South Block massive sulphide is a continuous mineralized horizon which varies approximately from 1.0 to 9.0 m in true thickness and averages 3.0 m overall, with a strike length of 1090 m approximately.

The South Block1 massive sulphide is a continuous mineralized horizon which varies approximately from 1.0 m to 7.0 m in true thickness and averages 2.6m overall, with a strike length of 325 m approximately.

The North Block massive sulphide and the underlying South Block are generally separated throughout the Deposit by about 30.0 m.

The South Block massive sulphide and the underlying South Block 1 are generally separated throughout the Deposit by about 15.0m. The Deposit dips at approximately 70 degrees from surface for a down-dip length of approximately 425 m (North Block), 190m (South Block) and 150m (South Block 1).

The South Block sits approximately 15.0m in the hanging wall above the South Block 1 in a structurally controlled system. The North Block sits approximately 30.0m in the hanging wall above the South Block in a structural controlled system.

IBW Project Mineral Resources are reported at a cut-off grade of 3.0% ZnEq in Table 1. The table below shows the sensitivity of estimated grade and tonnage to the selection of cut-off grade. Sensitivity analysis across a range of cut-off grades is only intended to provide additional context and should not be considered as Mineral Resources.

Table 2: Resource Sensitivity to Cut-off Table

Cut-off Grade Indicated Inferred
ZnEq Tonnes ZnEq ZnEq
Metal
Tonnes ZnEq ZnEq
Metal
% Mt % kt Mt % kt
0.5 15.88 7.03 1116 4.84 9.11 441
1.0 15.82 7.05 1116 4.84 9.11 441
1.5 15.70 7.10 1114 4.84 9.11 441
2.0 15.43 7.19 1109 4.83 9.12 441
2.5 15.01 7.33 1100 4.81 9.16 440
3.0 14.07 7.63 1074 4.71 9.29 438
3.5 13.19 7.92 1045 4.57 9.47 433
4.0 12.04 8.32 1002 4.36 9.75 425
4.5 10.74 8.81 947 4.17 10.00 417
5.0 9.79 9.21 902 4.03 10.18 410
5.5 8.71 9.70 845 3.86 10.41 401
6.0 7.85 10.13 795 3.68 10.63 391


230519_LR_Plan_View_Fig 1
Figure 1: Plan View La Romanera
View Figure 1 here : https://www.globenewswire.com/NewsRoom/AttachmentNg/b0e4838f-45b3-4796-ac2f-2b7fd72798db

230519_LR_VLP_UL_PR_40_Fig 2 Figure 2: Long section Upper Lens La Romanera
View Figure 2 here : https://www.globenewswire.com/NewsRoom/AttachmentNg/8b02d0a0-b863-47a7-90bc-c24bca6bd316

230519_LR_VLP_LL_PR_40_Fig 3 Figure 3: Long section Lower Lens La Romanera
View Figure 3 here : https://www.globenewswire.com/NewsRoom/AttachmentNg/776404b8-482e-4752-a075-d55c784127cb


230519_LI_Plan_View_Fig 4 Figure 4: Plan View La Infanta
View Figure 4 here : https://www.globenewswire.com/NewsRoom/AttachmentNg/b5878bfe-ab56-4a9f-bca0-219eb9f74f63


230519_LI_VLP_PR40_Fig 5 Figure 5: Long Section La Infanta
View Figure 5 here : https://www.globenewswire.com/NewsRoom/AttachmentNg/5c475128-54d2-4d49-908b-d59df53f1b50


230519_EMO_Properties_Huelva_Fig 6 Figure 6: Recently expanded Property with addition of Infanta Sur (848.5 hectares). It is anticipated that the gap between the Properties will also be awarded to Emerita in due course.
View Figure 6 here : https://www.globenewswire.com/NewsRoom/AttachmentNg/0f4fb539-74d4-428a-9879-717996c87d04

Qualified Person

Dr. Phil Newall, BSc (ARSM), PhD (ACSM), CEng, FIMMM is a Qualified Person as defined by NI 43-101 And has reviewed and approved the technical information and data regarding the MRE included in this news release. Mr. Newall is independent of Emerita. All other 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.

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:

Ian Parkinson
+1 647 910-2500 (Toronto)
info@emeritaresources.com

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 prospectivity of the Project; the Company's ongoing exploration of the Project; the Company's ability to increase and/or update the MRE; the Company's ability to increase the size of the Project, the Company's expectations for the Project; the results from metallurgical analysis 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 IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

EMO:CA
The Conversation (0)
Emerita Resources

Emerita Resources


Keep reading...Show less

Zinc Exploration in Northern Spain

Emerita Resources Files Supporting Documentation For Exploitation Licence For The IBW Project

Emerita Resources Files Supporting Documentation For Exploitation Licence For The IBW Project

Emerita Resources Corp. (" Emerita " or the " Company ") (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) announces that through its wholly-owned Spanish subsidiary, Emerita Resources España S.L.U., it has submitted all the required documentation (the " Supporting Documentation ") to support its application to the "Delegación Territorial de Energía y Minas in Huelva province, Junta de Andalucia" for an exploitation licence (the " Exploitation Licence ") for Emerita's wholly-owned Iberian Belt West project (" IBW " or the " Project "). Please see the Company's September 12, 2023 press release for further details regarding the Company's application for the Exploitation Licence.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Emerita Announces Commencement of Drilling Program at Nuevo Tintillo Project, Spain

Emerita Announces Commencement of Drilling Program at Nuevo Tintillo Project, Spain

Emerita Resources Corp. (TSX–V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") announces it is commencing with the previously announced diamond drill program (see news release August 30, 2023) (the "Drill Program") at its wholly owned Nuevo Tintillo project ("Nuevo Tintillo" or the "Project") (Figure 1). Due to an unusually hot and dry summer, the restrictions related to fire prevention in the area were extended to mid-October.   During the hottest weather in this region of Spain, heavy equipment is not permitted to operate during the daytime hours. According to Joaquin Merino, P.Geo., President of Emerita, "This is the most extended dry period seen in the region in many years. Some rainy weather has started however much more is needed as reservoirs, ponds, smaller streams and rivers are still dry in many cases. The Company will truck water for the drill program."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Emerita Intersects 6.3 Meters Grading 0.8% Copper; 1.6% Lead; 3.9% Zinc; 2.8 g/t Gold and 52.0 g/t Silver within a 27.6 Meters Thick Massive Sulphide Zone, Extending La Romanera Deposit at Depth. Three Additional Thick Massive Sulphide Intervals, Assays Pending

Emerita Intersects 6.3 Meters Grading 0.8% Copper; 1.6% Lead; 3.9% Zinc; 2.8 g/t Gold and 52.0 g/t Silver within a 27.6 Meters Thick Massive Sulphide Zone, Extending La Romanera Deposit at Depth. Three Additional Thick Massive Sulphide Intervals, Assays Pending

Emerita Resources Corp. (TSX V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") announces additional drilling results from the ongoing drilling program at La Romanera Deposit, part of Emerita's 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. Results contained in this release are from La Romanera deposit where drilling is tracing the extension of the deposit at depth.

Results herein are from drill holes LR154 and LR155, which have intercepted polymetallic mineralization in the form of a massive to semi-massive sulphide lens at approximately -450m elevation (approximately 600m below surface). See Figure 1 and Table 1 below.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Emerita Resources Files Exploitation Licence Application for the IBW Project

Emerita Resources Files Exploitation Licence Application for the IBW Project

Emerita Resources Corp. (" Emerita " or the " Company ") (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) announces that through its wholly-owned Spanish subsidiary, Emerita Resources España S.L.U., it has submitted an application to the "Delegación Territorial de Energía y Minas in Huelva province, Junta de Andalucia" (the " Junta ") for an exploitation licence (the " Exploitation Licence ") for Emerita's wholly-owned Iberian Belt West project (" IBW " or the " Project ").

The Exploitation Licence in Spain, when granted, has a 30-year term and can be extended for two subsequent 30-year periods.   Under Spanish regulations, in support of its Exploitation License application, Emerita has 3 months to submit certain additional documentation to supplement the application for the Exploitation Licence including an environmental impact study and mining plan.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Emerita Announces Planned Drilling Program at Nuevo Tintillo Project, Spain

Emerita Announces Planned Drilling Program at Nuevo Tintillo Project, Spain

Emerita Resources Corp. (TSX V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") announces planned diamond drilling program (the "Drill Program") at its wholly owned Nuevo Tintillo project ("NT" or the "Project). The Drill Program is expected to commence late in the third quarter or early in the fourth quarter of this year. The precise start date for the Drill Program will depend on the easing of regulations presently imposed in southern Spain to reduce the risk of fires. Restrictions typically end around the middle of September as the weather begins to moderate. Presently, heavy equipment is not permitted to operate during the daytime hours due to hotter temperatures.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Group Eleven Drills Best Hole Yet at Ballywire: 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu, incl. 5.6m of 16.6% Zn+Pb, 370 g/t Ag and 0.86% Cu

Group Eleven Drills Best Hole Yet at Ballywire: 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu, incl. 5.6m of 16.6% Zn+Pb, 370 g/t Ag and 0.86% Cu

Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the latest step-out drill results from the Zn-Pb-Ag horizon at its Ballywire discovery ("Ballywire") at the 100%-owned PG West Project ("PG West"), Republic of Ireland. Drilling at Ballywire's deeper, Cu-Ag target is in progress (to be reported in due course).

Highlights:

  • 25-3552-35 (a 50m step-out to the NE from previous drilling, along the Zn-Pb-Ag horizon) intersected:
    • 53.9m of 7.9% Zn+Pb (4.7% Zn and 3.2% Pb), 99 g/t Ag and 0.20% Cu, including
    • 39.7m of 9.5% Zn+Pb (5.6% Zn and 3.9% Pb), 131 g/t Ag and 0.27% Cu, including
    • 18.3m of 16.1% Zn+Pb (8.9% Zn and 7.2% Pb), 233 g/t Ag and 0.42% Cu, including
    • 5.6m of 16.6% Zn+Pb (8.0% Zn and 8.5% Pb), 370 g/t Ag and 0.86% Cu
    • True thickness is estimated to be 90-100% of the intervals noted above and below
  • Three Cu-Ag enriched zones were also intersected below the above intercept in the same hole:
    • 5.5m of 3.2% Zn+Pb (0.9% Zn and 2.2% Pb), 209 g/t Ag and 0.49% Cu, including
      • 0.9m of 2.1% Zn+Pb (1.5% Zn and 0.6% Pb), 831 g/t Ag and 2.46% Cu and
    • 0.9m of 195 g/t Ag and 0.21% Cu and
    • 3.5m of 7.1% Zn+Pb (3.5% Zn and 3.6% Pb), 134 g/t Ag and 0.34% Cu, including
      • 0.9m of 3.5% Zn+Pb (0.5% Zn and 3.0% Pb), 224 g/t Ag and 0.63% Cu
  • These results extend the strike length of the immediate Ballywire discovery corridor from 1,250m to 1,300m, while demonstrating much thicker mineralization than previously encountered
  • This corridor is hosted within a larger 2.6km long trend of robust mineralization pierced by drilling at Ballywire to date, along a prospective trend of over 6km (defined by four regional gravity-high anomalies, only one of which has been systematically drill tested to date)
  • Today's elevated Cu-Ag values further substantiate the Company's 'deeper Cu-Ag' target (100-200m below the Zn-Pb-Ag horizon), currently being drill tested (second hole in progress)
  • Three rigs are turning at Ballywire with over 4,000m of drilling completed year-to-date; Group Eleven aims to complete 8,000-10,000m in 2025 (fully funded)

"Today's hole represents our thickest intercept yet at the Ballywire discovery, surpassing our 29.6 metres of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu announced in June 2024," stated Bart Jaworski, CEO. "Not only does this intercept extend strike and show exceptional mineralized thickness but also demonstrates zones of strong copper-silver values. This adds to growing evidence suggesting a deeper Cu-Ag horizon one to two hundred metres below the main Ballywire discovery horizon. This deeper target is currently being drilled, with one hole finished and a second started. We look forward to releasing these results as soon as assays are available. With three rigs turning each on excellent targets at Ballywire and a recently announced strengthened cash position of C$4.3 million, Group Eleven is poised to keep generating shareholder value through the drill bit for the foreseeable future."

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/257506_7a4c0f28c4b01b45_002.jpg

Exhibit 1. Plan Drill Hole Map of Ballywire Discovery, Showing Hole 25-3552-35

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/257506_7a4c0f28c4b01b45_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/257506_7a4c0f28c4b01b45_003.jpg

Exhibit 2. Long-Section of 25-3552-35 (50m Step-Out) at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/257506_7a4c0f28c4b01b45_003full.jpg

Note: Structural interpretation above is preliminary and subject to change with further drilling and compilation

Ballywire Drill Update

The Ballywire prospect at the Company's 100%-owned PG West Project in Republic of Ireland, represents the most significant mineral discovery in Ireland in over a decade. First announced in Sept-2022, the discovery has 53 holes drilled and reported by Group Eleven to date, including the most recent hole (25-3552-35) reported today (see Exhibits 1 to 3).

Drilling at Ballywire continues with three rigs. Currently, eight (8) new holes are completed (and in the process of being logged, sampled and assayed). Six of these holes are shown in Exhibit 1, with two other holes near gravity-high anomaly 'D' (located 1.3km to the ENE). Recently strengthened financial position provides Group Eleven flexibility to either ramp-up drilling in 2025 and/or extend its runway for drilling well into 2026.

Assays from 25-3552-35 are summarized below (see Exhibit 3). Strong mineralization starts to occur within the Waulsortian Limestone at 120.6m downhole and continues intermittently until 187.9m, at which point, mineralization becomes more consistent through to near the base of the Waulsortian Limestone at 242.9m. Below the Waulsortian Limestone, several horizons of elevated copper-silver occur. Mineralization consists predominantly of sphalerite, galena and pyrite, with the copper-silver bearing zones also containing chalcopyrite and suspected tennantite-tetrahedrite.

Exhibit 3. Summary of Assays from 25-3552-35 at Ballywire

ItemFrom
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
25-3552-35120.58121.490.9110.852.9013.75235.00.03
And148.67149.620.9516.904.0520.9569.60.02
And155.22156.150.936.160.676.8318.50.01
And163.74177.6313.893.610.574.179.40.00
Incl.173.19177.634.445.081.146.2218.60.01
Incl.174.98175.910.9310.202.7212.9247.10.02
And187.88241.8253.944.723.187.8999.30.20
Incl.202.15241.8239.675.613.859.45131.10.27
Incl.212.55230.8118.268.897.1816.06233.10.42
Incl.212.55224.2111.6611.609.9921.59207.80.34
Incl.221.33226.965.638.038.5416.57370.00.86
Incl.222.32223.250.9316.2018.9035.10556.01.13
And238.21241.823.610.410.170.5896.40.54
Incl.240.92241.820.900.820.551.37223.01.27
And252.32257.805.480.942.223.16208.80.49
Incl.252.32254.091.772.013.685.69616.81.50
Incl.252.32253.200.881.480.632.11831.02.46
And263.23264.150.920.010.080.09195.00.21
And268.70272.153.453.503.557.06133.70.34
Incl.271.27272.150.880.502.993.49224.00.63

 

Note: True thickness of the mineralized interval in hole 25-3552-35, as a percentage of the down-hole interval, is estimated to be 90-100%

Notes to Exhibit 4: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2024); (b) Stonepark MRE: see the 'NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in 'Report on Prospecting Licence 464' by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in 'The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody' by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in 'Report on Mallow Property' by David Wilbur, dated December 1973; and later summarized in 'Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork' by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. 'Rathdowney Trend' is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5685/257506_gefig4_550.jpg

Exhibit 4. Regional Map of Ballywire Discovery

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/257506_gefig4.jpg

Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent 'Qualified Person' as defined under Canadian National Instrument 43-101.

Sampling and Analytical Procedures

All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.55m to 1.32m with an average (over 188 samples) of 0.92m. The half-core samples are bagged, labelled and sealed at Group Eleven's core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70%

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSX.V: ZNG; OTCQB: GRLVF and FRA: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
  • 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
  • 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)
  • 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu (25-3552-35)

Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit2. The Company's two largest shareholders are Michael Gentile (15.3%) and Glencore Canada Corp. (15.2% interest). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514

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.

Cautionary Note Regarding Forward-Looking Information

Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the current project or property being disclosed. This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Questcorp Mining Engages Marketing Consulting Firm Spark Newswire

Questcorp Mining Engages Marketing Consulting Firm Spark Newswire

Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to announce it has entered into a marketing consulting services agreement (the "Spark Agreement" or the "MSA") with Spark Newswire Inc. ("Spark") pursuant to which, among other things, Spark is to provide certain promotional services to the Company.

Spark are very selective in the clients they work with, only partnering with organizations that have a well-deserved reputation for quality and credibility and only working with one organization within a particular market sector at a time. Spark's goal is to integrate with their client's values and core brand narratives, becoming an extension of the overall corporate and capital markets team, assisting in building shareholder equity, brand equity and overall market awareness.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Nuvau Announces Voting Results of Its Annual and Special Meeting of Shareholders and Announces the Appointment of Steven Bowles as Chair of the Board

Nuvau Announces Voting Results of Its Annual and Special Meeting of Shareholders and Announces the Appointment of Steven Bowles as Chair of the Board

 Nuvau Minerals Inc. (TSXV: NMC) (the "Company" or "Nuvau") is pleased to announce the results of its annual and special meeting of shareholders of the Company (the "Meeting") held on June 26, 2025.

A total of 18,122,588 common shares of the Company ("Common Shares") were represented, in person or by proxy, at the Meeting, representing approximately 35.5% of the total issued and outstanding common shares as of the record date of the Meeting.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×