Emerita Announces Results of Airborne Survey at Nuevo Tintillo Project, Spain

Emerita Announces Results of Airborne Survey at Nuevo Tintillo Project, Spain

Emerita Resources Corp. (TSX V: EMO; OTC: EMOTF) (the "Company" or "Emerita") announces that results for the high-resolution, airborne geophysical survey on its 100% owned Nuevo Tintillo ("NT" or the "Project") property have been received and analysed.

According to Joaquin Merino. P.Geo., President of Emerita, "Based on the data interpretation at least 15 targets associated with coincident magnetic anomalies and EM conductors favourable for polymetallic minerals exploration were identified within the Nuevo Tintillo property. Among these targets, there are three highly prospective targets coincident with historical workings on the western side of the property that are prioritized for immediate follow up. An experienced Senior Geologist and team have been tasked to do the field verification of the anomalies in advance of designing a drill program."

The Nuevo Tintillo property, located in Seville province, covers approximately 25 km of important stratigraphy in the western part of the Iberian Pyrite Belt (IPB) (Figure 1) surrounded by some of the most productive deposits in the history of this mining camp. The giant Rio Tinto mine occurs along strike to the northwest as does the Aguas Tenidas mine and the Aznalcollar Project and the Cobre Las Cruces Mine of First Quantum occur to the southeast of the Nuevo Tintillo property. There are seven known mineral occurrences and small past producers within the NT Project area, and the area has not been explored systematically in decades. The airborne geophysical surveys constitute the first mineral exploration activity in the area since the late 1980s.

Figure 1. Geology map, Nuevo Tintillo

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The known mineralization on the NT property is hosted by a volcanic-sedimentary formation which in the area is about 300 m thick and spatially related to a WNW-ESE oriented regional thrust fault. The deposit type is interpreted as a classical IPB volcanogenic massive sulphide (VMS) ( Figure 1 shows the local geology and the limits of the Nuevo Tintillo property).   The mineralization in the Iberian Pyrite Belt, is composed of variable quantities of sphalerite, galena and chalcopyrite, commonly with associated silver and gold, in a pyritic gangue.

SURVEY DESCRIPTION
The helicopter-borne Time Domain Electromagnetic System (HTDEM) and Aeromagnetic Geophysical Survey was carried out by New Resolution Geophysics Ltd. (NRG), a specialized, independent geophysical contractor based in Madrid (Spain). The airborne survey was flown over the 227-claim unit block of Nuevo Tintillo project in March 2022, using an AS350B Turbine helicopter (Figure 2. AS350B Turbine helicopter flying over the property). The helicopter survey flying height was approximately 60-70 m above the ground, so that the receiver and transmitter were 30-40 m above the ground. The penetration capability of the survey is about 500m depth. The electromagnetic system employed was a Xcite TM with a sensor configuration coincident Tx-Rx with a Fully Inflatable frame structure. The magnetic survey was completed using a NRG RDAC II Magnetometer with a recording rate of 20Hz (See Table 1 below for details).

Figure 2. AS350B Turbine helicopter

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Table 1. Equipment and data sampling specifications

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A total of 897-line kilometers of HTEM data were collected during the survey over the Nuevo Tintillo property, on transverse 100m-spaced lines along the NS orientation. (Figure 3. HTDEM Survey on the Nuevo Tintillo property). Initially the Company had planned to fly the western side of the Project at 100 m line spacing and the eastern side at 200 m line spacing. The original program was modified and the entire Project was flown at 100 meter spacing giving high resolution coverage to the entire Project area. In addition, on the advice of the geophysical contractor the airborne gravity component of the survey was deferred because there is regional gravity data available from the Spanish Government which can be used and augmented by targeted detailed ground based, higher resolution surveys, in the priority target areas. Data processing was performed by New Resolution Geophysics Ltd. (NRG).

Figure 3. HTDEM Survey on the Nuevo Tintillo property, 100-spacing lines. Digital Terrane

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PROCESSING SUMMARY QUALITY CONTROL (QC) FLOW SHEET
The following chart presents the Magnetic data processing flow diagram and the Time Domain electromagnetic data processing flow diagram respectively.

Chart 1: Magnetic data processing flow diagram

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Chart 2: Time Domain electromagnetic data processing flow diagram

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NUEVO TINTILLO – GEOPHYSICAL SURVEY OBJECTIVES
The primary objectives of the helicopter-borne geophysical survey was to:

  1. Identify magnetic and electromagnetic anomalies that bear resemblance to known mineralization in the IPB for field and diamond drill follow up.
  2. Determine the main lithological and structural features of the Nuevo Tintillo project area to optimize targeting of new favourable areas for detailed exploration of VMS polymetallic deposits.

TARGET SELECTION
Conductivity anomalies associated with known mine working areas were used as the basis to identify and prioritize other EM conductors with similar characteristics and geological context that could be related to potential, previously unknown sulphide mineralization for further detailed investigation. Strong EM conductors appear to be the main parameter that best correlates with known mineralised lenses.

In total 15 target areas characterized by strong conductors have been prioritized within the Nuevo Tintillo property (Figure 4 and 5). On the west side of the Project, the strongest conductors are coincident with the location of the past producing Santa Flora and Nazaret mines areas. Figure 5 shows two vertical resistivity profiles in the area of the Nazaret deposit, an old mine located in the western side of the property. The mineralization is characterised by strong conductors, in the order of 50-80 ohm-m, and a dip to the North, very similar to what has been observed in the Tintillo deposit on the east side of the survey area.

Figure 4. 3D Voxet interpretation. On the east side, the extensive, strong conductors occur in the area of the small, past producing Santa Flora and Nazaret mines. These mines date to the early part of the last century before any modern exploration technology existed, yet this underexplored area is within sight of the giant Rio Tinto deposit further west.

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Figure 5. Two geophysical profiles, showing EM Conductors in the Nazaret historical mine area.

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In order to evaluate the anomalies prior to drilling, the Company plans to map the geology in detail and will complete detailed ground gravity surveys where appropriate to augment the regional gravimetry to search for anomalies of denser bodies in order to help prioritize the conductors. Massive sulphide masses are conductive and dense, and these two properties together with a favourable geology will determine the priority areas for further exploration. The objective is to commence drill testing the best targets in Q4 2022.

Joaquin Merino, P.Geo., points out, "A good example of the results this type of EM survey can deliver, was the discovery of Magdalena volcanogenic massive sulphide deposit found in the Iberian Belt by Minas de Aguas Teñidas S.A.U. (MATSA) in 2013. During a first phase of exploration, the deposit was discovered by drill testing a conductivity anomaly that was first detected during an airborne (helicopter) transient electromagnetic survey (VTEM) in 2011. This was followed by drilling which intercepted an orebody at a depth between 225m and 248m. Today, this discovery is in production."

According to David Gower, P.Geo., CEO of Emerita, "This is a unique opportunity to explore such an extensive belt of productive stratigraphy, located between very large deposits. The airborne survey has delivered very good targets that are located within the proper geological context. We are moving forward with the boot and hammer work to evaluate each target and expect to commence trenching and drilling later in the year."

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:
Joaquin Merino
+34 (628) 1754 66 (Spain)

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; the results of exploration work on the Nuevo Tintillo Project; the prospectivity of the Project; the timing and ability of the Company to explore the Nuevo Tintillo 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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To learn more about Mr. Carter, please visit our website .

Patrick Elliott added, "Mike's dual expertise underscores Forte Minerals' vision to lead sustainable exploration and mining practices, highlighting our unwavering commitment to championing the energy transition."

About Forte Minerals Corp.

Forte Minerals Corp., a junior exploration company that has blended assets in partnership with GlobeTrotters Resources Perú SAC, has built an attractive portfolio of high-quality copper and gold assets in Perú. The Company aims to generate significant value growth by strategically situating early-stage and drill-ready targets alongside a historically discovered and drilled porphyry system for copper and gold resource development.

On behalf of Forte Minerals CORP.
"/s/" Patrick Elliott
Chief Executive Officer

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/forte-minerals-strengthens-esg-strategy-with-the-appointment-of-lead-energy-advisor-301935698.html

SOURCE Forte Minerals Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2023/22/c6124.html

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