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.
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Emerita Announces AGM Results
Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA) (the “Company” or “Emerita”) is pleased to report that the nominees listed in the management proxy circular dated April 28, 2023 for the annual and special meeting of shareholders of Emerita held on May 31, 2023 (the “Meeting”) were elected as directors of the Company. The appointment of each of the nominees to the Company’s board was approved by more than 94% of the votes cast at the Meeting. Shareholders at the Meeting also approved the appointment of the Company’s auditors and the Company’s stock option plan. Emerita management would like to thank shareholders for their participation and continuing support.
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:
Vincent Chen
+1 778 990 9433 (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 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.
Emerita Resources Files Supporting Documentation For Exploitation Licence For The IBW Project
The Supporting Documentation includes all (i) technical aspects for mining and processing at the IBW Project, as well as associated infrastructure, equipment and tailings storage facilities in order to build and operate a mine; and (ii) a restoration plan. Although the Exploitation Licence application and Supporting Documentation is thorough with all technical aspects of the Project necessary to receive the appropriate approvals from the Spanish authorities, it has not been prepared in compliance with National Instrument 43-101 (" NI 43-101 ") and, consequently, economics for the Project cannot be disclosed at this time. The Supporting Documentation, including the environmental parameters, basic engineering, along with a revised mineral resource estimate incorporating new drill results, will comprise the basis for a NI 43-101 compliant economic study in the first half of 2024.
The Exploitation Licence in Spain, when granted, has a 30-year term and can be extended for two subsequent 30-year periods.
According to Joaquin Merino, P.Geo., President of Emerita, "The submission of this detailed documentation in support of the Exploitation Licence application marks an important milestone for Emerita. We are moving from a purely exploration focused endeavor to a development company with an asset that merits proceeding with detailed engineering studies and demonstrates our intention to commit to a very long term investment in Huelva Province. We are very excited to take the IBW Project to the next phase in its development. We have had several very productive meetings with senior Government officials in Huelva Province, and are highly encouraged by the support and advice they have imparted."
Qualified Person
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)
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 Exploitation Licence, the Supporting Documentation, the Company's ability to obtain the Exploitation Licence, the mineralization and prospectivity of the Project, the Company's exploration and exploitation plans, permitting for the Project, the commercial viability of 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 IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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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."
Construction of drill access roads and platforms at the Project are completed. The drill campaign will start with one rig that will be mobilized next week. Permits for the program and agreements with local landowners are in place.
The initial Drill Program at Nuevo Tintillo will focus on targets that have been identified on the west side of the Project, nearest to the Rio Tinto mine (see news release August 30, 2023). The Drill Program will evaluate six priority targets and comprise approximately 3,000 meters in the initial target testing phase (Figures 2 and 3). Subsequent drilling will be budgeted based on results. Targeting is based on a combination of airborne electromagnetic (AEM) surveying, detailed and archived gravity data, detailed mapping and a compilation of historical geology. The area has abundant evidence of base metal mineralization in surface outcrops as well as small historical mines and is situated on trend from large Volcanogenic Massive Sulfide (VMS) deposits such as Rio Tinto mine, Aznalcóllar mine and Cobre Las Cruces mine.
In addition to the drilling at Nuevo Tintillo, the Company has continued to evaluate the potential along strike to the east, towards the center of the property. The exploration team has been mapping and characterizing the lithologies and alteration types in this area. The geological interpretation indicates the stratigraphy correlates well with the western area in the Project and by extension the stratigraphy hosting the Rio Tinto mine further to the west.
Background
The Nuevo Tintillo project comprises 6,875 hectares with an additional 7,625 hectares of claims that are pending final granting to the Company (see the Company's August 30, 2023 press release for further details). As such, it is Emerita's largest landholding in the Iberian Pyrite Belt (IPB). It is situated between several world-class Volcanogenic Massive Sulfide (VMS) deposits, including Rio Tinto, Aznalcóllar and Cobre Las Cruces. Seven known mineralized occurrences and several historic producing mines are located within the Project boundaries (Figure 1).
Figure 1: Location of the Nuevo Tintillo project with respect to Rio Tinto, Aznalcóllar and Cobre Las Cruces deposits. Pending claims shown in blue. The outline of Figure 2 is represented by the blue rectangle on the west side of the Nuevo Tintillo Property.
View Figure 1 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/dec48fa0-686d-49be-8889-694207ca0c62
Figure 2: Plan view detail of gravity data previously shown, merged with TDEM conductivity data that has been filtered to show only very conductive zones (1km grid).
View Figure 2 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/c983469b-911c-497f-aefc-7e1b7944f1bd
Figure 3: Oblique sectional view of surface geology at 1:5000 and TDEM section 724250E illustrating two of the drill targets.
View Figure 3 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/3eabfb97-0bce-4645-a5cb-186f3fd0c9fa
El Cura Target – Iberian Belt West Project
The Company plans to temporarily suspend the drilling at the El Cura target to focus on the Nuevo Tintillo program and maintain a strong focus on the expansion drilling at La Romanera. Drilling has been very slow at El Cura through the fire restriction season, and results will be reported when assays are completed. Additional drill platforms are in the process of being permitted at El Cura, for when drilling resumes there.
According to David Gower, P.Geo., CEO of Emerita, "This combination of high-resolution geophysical coverage and boots-on-the-ground mapping and prospecting has generated six highly prospective targets in the western Nuevo Tintillo sector, of which five have been selected for first-pass drill testing."
An initial program of 3,000 meters has been approved with a potential expansion to an already designed program of 11,500 meters of diamond drilling depending on results. Core will be logged in the Company's processing facilities in Puebla de Guzmán with samples dispatched to ALS.
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 NI 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:
Vincent Chen
+1 778 990 9433 (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 Nuevo Tintillo Project and El Cura; the prospectivity of the Project and El Cura; the Drill Program; the Company's ability to obtain the pending grants of claims for 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 IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
News Provided by GlobeNewswire via QuoteMedia
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.
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 encountered mineralization is very similar in both holes and is characterized by a high pyrite content at the hanging wall side of the lens that changes to a more chalcopyrite-sphalerite dominant zone towards the footwall. The two intercepts are located towards the western edge of the deposit (Figure 1). On the longitudinal section, the two intercepts are approximately 100 m apart. The elevation of the intercepts is shallower than expected because the dip angle of the sulphide zone in this area is not as steep as seen in other areas of the deposit. True thickness is close to 80% of the reported intercept thickness.
In addition to these two holes, drill holes LR156, LR157 and LR158 have all intercepted significant intervals of massive sulphides (Figure 1). LR156 intercepted 37.6 meters of massive sulphide, LR 157 intersected 51.6 meters of massive sulphide and LR 158, which is the western-most drill hole at this depth, intersected 5.5 meters of massive sulphides. Assays are pending for these drill holes and a more detailed description will be provided when assays are available.
Drill hole LR154 encountered 6.3 Meters grading 0.8% Copper; 3.9% Zinc, 1.6% Lead, 2.82 g/t Gold and 52.0 g/t Silver within 27.6 Meters Grading 0.5% Copper; 1.5% Zinc; 0.6% Lead; 1.5 g/t Gold and 25.5 g/t Silver.
Drill hole LR155 encountered 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 Grading 0.2% Copper; 4.7% Zinc; 1.5% Lead; 0.6 g/t Gold and 57.0 g/t Silver.
Figure 1: La Romanera Vertical Longitudinal Section showing location of the drill intercepts
View Figure 1 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/20ef7ff5-960a-4e7b-8dfc-d916798a6e37
The exploration team performed a down hole TEM in LR155. Results indicate a strong geophysical anomaly (conductor) continues at depth, to be tested by drilling.
Currently, the Company has four rigs operating at La Romanera deposit, with the objective to test the continuity of the mineralization in the area below the current NI 43-101 mineral resource estimate (MRE) and increase the drill density in this area so it can be included in an updated mineral resource estimate after the metallurgical program has been completed.
Drilling productivity continues to be hampered due to restrictions related to the fire ban, such that heavy equipment cannot be operated during the hottest part of the day (approximately 12:00PM until 8:00 PM). Due to the unusually extended and hot summer weather this year, reservoirs in the area remain at very low levels and for this reason restrictions have been extended until approximately mid-October. Once these restrictions are lifted, the Company plans to initiate the drilling program at the Nuevo Tintillo Project that was announced previously. Permits and access agreements are in place and the drill contractor is on stand-by to initiate that program.
The metallurgical samples are being processed at the lab in the United Kingdom. Grinding test work is complete and mineral separation work is commencing. The metallurgical program is running 2-3 weeks behind schedule and initial results are now expected in November.
Qualified Person
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
www.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, statements regarding the prospectivity of the IBW project, the mineralization and the IBW project, the economic viability of the IBW project, the Company's future exploration plans at the Project and Nuevo Tintillo, the results of metallurgical tests and studies, the Company's ability to update the MRE 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.
News Provided by GlobeNewswire via QuoteMedia
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.
All documentation required to support the Exploitation Licence is currently being prepared by Emerita in a form designed to meet the criteria required to complete the Exploitation Licence application.
The Exploitation Licence, when granted, shall allow the Company to continue to conduct exploration and development activities at the Project. During the time that the Exploitation Licence is being reviewed by the Junta, Emerita's rights under its current exploration licence for the IBW project are extended allowing Emerita to continue with its ongoing exploration program at La Romanera, La Infanta and El Cura deposits at IBW. Definitive feasibility studies and detailed engineering will be completed in due course under the Exploitation Licence in order to finalize the development project that will ultimately be presented for final permitting.
According to Joaquin Merino, P.Geo., President of Emerita, "This application marks a milestone for Emerita as it marks the key transition to advancing the IBW project from purely exploration to the technical development stage with a focus on activities necessary to develop a potential future operation. Local Spanish authorities have expressed support for the application in recent meetings. The Company has been working with a well-respected Spanish engineering firm on conceptual mine plans in order to develop options for infrastructure locations and this along with the metallurgical testing that is in progress will provide the basis for the studies being prepared to support the application for the Exploitation Licence. Meanwhile, we continue to drill and expand the mineral resources at shallow depths on the IBW project."
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
www.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, statements regarding the Exploitation Licence, the Company's ability to obtain the Exploitation Licence, the Company's ability to complete the required reports and studies, the mineralization and prospectivity of the Project, the Company's exploration and exploitation plans, permitting for the Project, the commercial viability of 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 IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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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.
The initial Drill Program at Nuevo Tintillo will focus on targets that have been identified on the west side of the Project, nearest to the Rio Tinto mine (see below for details). The program will evaluate six priority targets and comprise approximately 3,000 meters in the initial evaluation phase. Subsequent drilling will be budgeted based on results.
According to Joaquin Merino, P.Geo., President of Emerita, "We are excited to see the results of the initial Nuevo Tintillo drill campaign. Our technical team has worked diligently to identify high potential drill targets. Targeting is based on a combination of airborne electromagnetic (AEM) surveying, detailed and archived gravity data, detailed mapping and a compilation of historical geology. The area has abundant evidence of base metal mineralization in surface outcrops as well as small historical mines and is situated on trend from large VMS deposits such as Rio Tinto mine, Aznalcóllar mine and Cobre Las Cruces mine. This is the first modern exploration evaluation that we are aware of for this highly prospective property."
Background
The Nuevo Tintillo project comprises 6,875 hectares with an additional 7,625 hectares of claims that are pending final granting to the Company (see the Company's February 16, 2023 press release for further details). As such, it is Emerita's largest landholding in the Iberian Pyrite Belt (IPB). It is situated between several world-class Volcanogenic Massive Sulfide (VMS) deposits, including Rio Tinto, Aznacóllar and Cobre Las Cruces. Seven known mineralized occurrences and several historic producing mines are located within the Project boundaries (Figure 1).
Figure 1: Location of the Nuevo Tintillo project with respect to Rio Tinto, Aznacóllar and Cobre Las Cruces deposits. Pending claims shown in blue.
View Figure 1 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/679d9b7a-8ac3-4066-8bdd-ff417d434204
Recent Work
In 2022, Emerita completed an 897 line-kilometer Time Domain Electromagnetic (TDEM) geophysical survey over NT at 100m line-spacing (Figure 2). This program highlighted fifteen areas of interest and the Project area was subdivided into three zones for progressive follow-up: West, Central and East. Due to its proximity to the world's largest VMS occurrence at Rio Tinto, and the presence of the historic mines of Santa Flora and Nazaret, work will commence in the western sector first and will be the focus of the initial drill campaign.
Figure 2: Conductive zones identified in TDEM survey (hot colors) and historic producing mines in Nuevo Tintillo (2km grid). The area outlined in blue around the Santa flora Mine is the area detailed in Figure 4.
View Figure 2 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/825c475c-d888-46e9-b0f0-58419a44c704
The combination of TDEM and gravimetry has proven to be highly successful in identifying VMS deposits in the Iberian Pyrite Belt and globally. In early 2023, the Company completed a detailed gravimetric survey over an aerial extent of 6km by 2.5km, comprising 418 stations on 200m centers (Figure 3).
Figure 3: Combined historical and newly acquired gravimetry data collected by Emerita. Hot colors are gravimetric highs. The west portion of the Nuevo Tintillo project occurs in the black outline. The grid on the map is a 1km grid.
View Figure 3 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/040e31f7-5255-424e-aeb1-3fd8c003846b
Following the acquisition of the TDEM data, Emerita deployed a senior geologist with global exploration and production experience on VMS deposits to ground truth the anomalies, complete a detailed geological base, including local lithogic and structural models, and mineralized zones. In the western sector of Nuevo Tintillo, geologic mapping at various scales from 1:250 in the underground workings to 1:2500 and 1:5000 on surface was carried out across a 5km x 2km area (Figure 4).
Mapping and prospecting revealed important similarities between the nearby Rio Tinto district and western sector of Nuevo Tintillo. In both areas, mineralization is located near to the contact between dacitic volcanics and the overlying transition series and within the dacite volcanic suite itself. Halos of proximal intense sericitization and more distal chloritization of host rocks are associated with the mineralizing event and can be used to identify prospective areas.
Figure 4: Portion of 1:5000-scale mapping and prospect sampling, Santa Flora area.
View Figure 4 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/9f015992-bbde-41c4-b2d6-4cea4a497d48
Structurally, much of the fold-thrust deformation is accommodated by the weaker sedimentary rocks and the boundaries between these and the dacitic volcanic rocks. North-dipping thrusts are commonly localized in purple and black (graphitic) shale units, which are clearly evident as through-going, highly conductive planar features in the TDEM sectional data. As such, shale-hosted thrust faults at or near to the dacite-sedimentary contacts where correlated with geophysical anomalies are interpreted to be highly prospective.
Integration of Geology, TDEM and Gravimetry for Targeting
Within this geological framework, the high-resolution gravimetry merged with the 2022 TDEM data yields a combined target-level guide to search for coincident anomalies that are both highly dense and highly conductive, which are key characteristic rock properties of massive sulfide bodies. TDEM anomalies that coincide with gravity highs constitute potential targets for testing, as shown in Figure 5 below.
Figure 5: Plan view detail of gravity data previously shown, merged with TDEM conductivity data that has been filtered to show only very conductive zones (1km grid).
View Figure 5 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/4385a741-96be-4b14-8833-bdf28a6b00bd
Figure 6: Oblique sectional view of surface geology at 1:5000 and TDEM section 724250E.
View Figure 6 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/1c5a8e6b-c2e4-4d90-8b12-2864a5c590a1
Figure 7: TDEM section 724250E and geological XS 724250E.
View Figure 7 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/2db2fc0f-aa7f-4f7e-88b1-bdcd865656f2
According to David Gower, P.Geo., CEO of Emerita, "This combination of high-resolution geophysical coverage and boots-on-the-ground mapping and prospecting has generated six targets in the western Nuevo Tintillo sector, of which five have been selected for first-pass drill testing. The western Nuevo Tintillo area is under no special environmental restrictions with regards to exploration activity and as such the permitting process is simplified and managed solely by the Mining Department. It is anticipated that drilling could commence as early as October 2023, subject to the end of fire-related restrictions in the area and timely approval of the drill plan by the Mining Department."
An initial program of 3,000 meters has been approved with a potential expansion to an already designed program of 11,500 meters of diamond drilling depending on results. Core will be logged in the Company's processing facilities in Puebla de Guzman with samples dispatched to ALS.
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 NI 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:
Vincent Chen
+1 778 990 9433 (Toronto)
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 Nuevo Tintillo Project; the prospectivity of the Project; the Drill Program; the Company's ability to obtain the pending grants of claims for 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 IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
News Provided by GlobeNewswire via QuoteMedia
Quarterly Activities & Cashflow Report - Quarter ending 31 March 2024
Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to provide a summary of activities completed during the Quarter ending 31 March 2024.
Highlights
- Gidji JV
- Preparations for RC and aircore drilling
- Bangemall Ni-Cu-Co-PGE Project
- Grant of Trouble Bore Exploration Licence
- Ground EM surveys at Mount Vernon and Trouble Bore identified multiple strong EM conductors for drill testing
- Whaleshark
- Planning of passive seismic survey
- Examination of magnetite iron potential
- Capital Raising
During the Quarter, the Company focussed on the Bangemall Ni-Cu-Co- PGE projects in the Gascoyne region of Western Australia.
Early in the Quarter, the Company announced the grant of the Trouble Bore Exploration Licence, adjacent to Mount Vernon, where historic EM surveys had identified a strong late-time EM anomaly that could be representative of buried Ni-Cu-Co-PGE mineralisation.
The Company completed a ground EM survey at Mount Vernon and Trouble Bore which identified multiple EM conductors for drill testing.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was excited about the potential to discover a new style of Ni-Cu-Co-PGE mineralisation in the Bangemall region.
“We are looking for mineralisation similar to the giant Norilsk-Talnakh deposits in Siberia, the largest nickel deposits in the world,” he said.
“If we are successful at any one of our projects, we have a dominant position in what could be an entirely new nickel province, similar in scale to the Albany-Fraser Province prior to the discovery of Nova in 2012,” he added.
“We also have a suite of fantastic projects in the Eastern Goldfields, with potential for multiple discoveries in a record gold price environment,” he said.
Click here for the full ASX Release
This article includes content from Miramar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Canadian Critical Minerals Closes $247,500 Flow-Through Financing
Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") has closed a flow-through financing for gross proceeds of $247,500, comprised of 4,500,002 Flow-Through Shares with an issue price of $0.055 per share.
All securities issued are subject to a statutory hold period that expires four months and one day from issuance.
In connection with the financing, the Company paid finder cash commissions totalling $15,925 and issued 289,545 finder warrants. Each finder warrant entitles its holder to acquire one common share of the Company at a price of $0.055 for a 36-month period.
Proceeds from the financing will be used for exploration and development activities at the Bull River Mine project near Cranbrook, B.C.
About Canadian Critical Minerals Inc.
CCMI is a mining company primarily focused on two near-term copper production assets in Canada. CCMI's main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. CCMI also owns a 34% interest in the Thierry Mine project (>1.3 billion lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@canadiancriticalmineralsinc.com
Website: www.canadiancriticalmineralsinc.com
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. 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 information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
Ero Copper Announces Voting Results of Annual General Meeting of Shareholders
Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the "Company") reported the voting results from its Annual General Meeting of Shareholders held today in Vancouver, British Columbia. A total of 93,474,205 common shares were represented at the meeting, being 90.96% of the issued and outstanding common shares of the Company as at the March 5, 2024 record date. Shareholders voted in favour of all items of business before the meeting, including the re-election of management's nominees as directors for the ensuing year and the advisory vote on executive compensation. Detailed results of the votes are presented below.
Each item of business voted upon at the meeting is described in detail in the Company's Management Information Circular dated March 7, 2024 (the "Circular"), which is available on the Company's website ( www.erocopper.com ), on SEDAR+(www.sedarplus.ca/landingpage/) and on EDGAR (www.sec.gov).
SET THE NUMBER OF DIRECTORS AT TEN
Shareholders approved the proposal to set the number of directors at ten with 99.99% of votes cast in favour.
ELECTION OF DIRECTORS
Shareholders re-elected ten directors as follows:
Number of Common Shares Voted | Percentage of Votes Cast | ||||||
Director Nominee | For | Withheld | For | Withheld | |||
Christopher Noel Dunn | 80,016,330 | 1,122,635 | 98.62% | 1.38% | |||
David Strang | 81,120,943 | 18,022 | 99.98% | 0.02% | |||
Jill Angevine | 80,792,549 | 346,416 | 99.57% | 0.43% | |||
Lyle Braaten | 80,945,359 | 193,606 | 99.76% | 0.24% | |||
Steven Busby | 80,549,424 | 589,541 | 99.27% | 0.73% | |||
Dr. Sally Eyre | 80,806,488 | 332,477 | 99.59% | 0.41% | |||
Robert Getz | 80,578,444 | 560,521 | 99.31% | 0.69% | |||
Chantal Gosselin | 81,055,224 | 83,741 | 99.90% | 0.10% | |||
Faheem Tejani | 81,121,846 | 17,119 | 99.98% | 0.02% | |||
John Wright | 81,022,538 | 116,427 | 99.86% | 0.14% |
APPOINTMENT OF AUDITOR
Shareholders re-appointed KPMG LLP, Chartered Professional Accountants, as the auditor of the Company and authorized the directors of the Company to fix the remuneration to be paid to the auditor with 99.95% of votes cast in favour.
ADVISORY VOTE ON EXECUTIVE COMPENSATION
Shareholder approved the non-binding advisory "say on pay" resolution accepting the Company's approach to executive compensation as described in the Circular with 99.05% of votes cast in favour.
ABOUT ERO COPPER CORP
Ero is a high-margin, high-growth, low carbon-intensity copper producer with operations in Brazil and corporate headquarters in Vancouver, B.C. The Company's primary asset is a 99.6% interest in the Brazilian copper mining company, Mineração Caraíba S.A. ("MCSA"), 100% owner of the Company's Caraíba Operations (formerly known as the MCSA Mining Complex), which are located in the Curaçá Valley, Bahia State, Brazil and include the Pilar and Vermelhos underground mines and the Surubim open pit mine, and the Tucumã Project (formerly known as Boa Esperança), an IOCG-type copper project located in Pará, Brazil. The Company also owns 97.6% of NX Gold S.A. ("NX Gold") which owns the Xavantina Operations (formerly known as the NX Gold Mine), comprised of an operating gold and silver mine located in Mato Grosso, Brazil. Additional information on the Company and its operations, including technical reports on the Caraíba Operations, Xavantina Operations and Tucumã Project, can be found on SEDAR+ at www.sedarplus.ca/landingpage/ and on EDGAR (www.sec.gov). The Company's shares are publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol "ERO".
FOR MORE INFORMATION, PLEASE CONTACT
Courtney Lynn, VP, Corporate Development & Investor Relations
(604) 335-7504
info@erocopper.com
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Forum Energy Metals to Present at the Energy Transition Metals Summit in Washington, DC April 29 - 30, 2024
Join Forum Energy Metals (TSXV: FMC) (OTCQB: FDCFF) at the Energy Transition Metals Summit being held at the Marriott Marquis in Washington, DC on Monday, April 29 and Tuesday, April 30. Forum President & CEO, Richard Mazur and Dr. Rebecca Hunter, Vice President of Exploration will be available both days of the conference for 1 X 1 meetings to update investors on Forum's high grade uranium discovery in the Thelon Basin, Nunavut.
Qualified buy side parties can register at:
https://www.precioussummit.com/event/2024-energy-transition-metals-summit-washington-d-c/
Rick Mazur, President & CEO stated, "This is an exciting Canadian uranium discovery in a geologic equivalent of the prolific Athabasca Basin, Saskatchewan. We are excited to begin our $10 million summer drill campaign in June and are currently mobilizing materials in order to begin building the camp in the next several weeks. The focus of Forum's efforts will be on our Tatiggaq deposit in Nunavut which is adjacent to Orano's 133 million pound Kiggavik uranium development project."
Technical meetings with management and partnering inquiries on Forum's portfolio of uranium and energy metals projects in Saskatchewan, Nunavut and Idaho can be arranged by contacting: Rick Mazur, President & CEO at mazur@forumenergymetals.com or by calling 604-630-1585.
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut.
For further information: https://www.forumenergymetals.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
Neither the 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.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206710
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Hudbay to Host Conference Call for First Quarter 2024 Results
Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) senior management will host a conference call on Tuesday, May 14, 2024 at 11:00 a.m. ET to discuss the company's first quarter 2024 results.
First Quarter 2024 Results Conference Call and Webcast | |
Date: | Tuesday, May 14, 2024 |
Time: | 11:00 a.m. ET |
Webcast: | www.hudbay.com |
Dial in: | 1-416-764-8650 or 1-888-664-6383 Additional Dial-in |
Hudbay plans to issue a news release containing the first quarter 2024 results before market open on Tuesday, May 14, 2024 and post it on the company's website. An archived audio webcast will be available on Hudbay's website following the call.
About Hudbay
Hudbay (TSX, NYSE: HBM) is a copper-focused mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining-friendly jurisdictions of Canada, Peru and the United States.
Hudbay's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the company, which is complemented by meaningful gold production. Hudbay's growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations.
The value Hudbay creates and the impact it has is embodied in its purpose statement: "We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities." Hudbay's mission is to create sustainable value and strong returns by leveraging its core strengths in community relations, focused exploration, mine development and efficient operations.
For further information, please contact:
Candace Brûlé
Vice President, Investor Relations
(416) 814-4387
investor.relations@hudbay.com
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Culpeo Commences Drilling at Lana Corina Where Intersections Included 257m @ 1.10% CuEq
Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to advise extensional drilling has commenced at the Lana Corina Project (the Project), Chile, building on the achievements of the 2023 program.
HIGHLIGHTS
- Diamond drilling program underway at the Lana Corina Prospect.
- The program is scheduled for 2,000m of drilling which aims to extend broad zones of high-grade copper and molybdenum mineralisationi along a >3km prospective corridor, including:
- 257m @ 1.10% CuEq in CMLCD002 from 170mii;
- 173m @ 1.09% CuEq in CMLCD003 from 313miii; and
- 169m @ 1.21% CuEq in CMLCD010 from 239miv.
- High-grade copper and molybdenum mineralisation has been defined at Lana Corina over a surface area of 500m x 400m, to over 700m deep and is open in all directions.
Figure 1: Drill rig operational at the Lana Corina Project April 2024.
Culpeo Minerals’ Managing Director, Max Tuesley, commented:
“Following the success of the 2023 program and the exceptional results we have delivered from Lana Corina, it is exciting to have commenced another significant drilling campaign at the Project in 2024.
The commencement of this extensional exploration program is an important step in realising the Company’s growth strategy, and we look forward to sharing progress updates with our shareholders over the coming months as we continue to drill our Lana Corina and Fortuna Projects.”
PROGRAM OBJECTIVES
The 2024 drill program is focused on expanding the western and down-dip extension of the high-grade copper and molybdenum previously reported at Lana Corina (Figure 2). Additionally, initial testing of the Vista Montana Prospect aims to extend the potential mineralised corridor to over 3km in strike length.
Figure 2: Plan view of drilling results at Lana Corina.
Culpeo’s exploration team has developed a greater understanding of the geological setting and the timing of both the breccia and porphyry hosted mineralisation in recent months. This new understanding provides a strong backdrop to targeting mineralisation extensions.
LANA CORINA PROJECT
The Lana Corina Project is located in the coastal belt of Chile, approximately 350km north of Santiago. The project benefits from substantial existing local infrastructure including sealed road access and a 75MW power station approximately 3km to the east.
The Project is associated within a structural zone oriented in a northeast-southwest direction with >3km of strike and up to 400m wide. High-grade copper mineralisation is associated with four known breccia pipes occurring in the upper levels of a large copper bearing porphyry hosted mineralised system. The high-grade mineralisation identified to date outcrops at surface and extends to a vertical depth of 700m and remains open.
Click here for the full ASX Release
This article includes content from Culpeo Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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