Base Metals

Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") is pleased to announce additional assay results from the 2022 delineation drilling at La Romanera Deposit at its wholly owned Iberian Belt West project ("IBW" or the "Project"). The Company continues to have 13 drilling rigs on site on a 24-hour rotation.

Assay results have been received from 4 drill holes, LR028, LR024, LR020 and LR018 (Figure 1). All intercepted significant mineralization except LR018, which intercepted primarily massive pyrite.

Holes LR028, LR024 and LR020 are aligned along a similar elevation of approximately 225 meters vertically below surface and extend across a horizontal distance of approximately 450 meters. Massive sulphide mineralization occurs in both the Upper and Lower lenses in holes LR024 and LR028 (Figure 1, 2 and 3). Hole LR024 occurs within the zone explored by previous companies in the 1970s and 1980s, and drillholes LR028 and LR020 are equidistant to the west and east from LR024 and occur outside the historic drilled zone. This demonstrates massive sulphide mineralization extends along strike for at least 450 m at this elevation.

From east to west, the order of the drill holes presented is:

Drill Hole LR020:
Drill hole LR020 intercepted massive sulphide mineralization only in the Lower Lens. The Lower Lens was intercepted from 281.7 m and encountered 16.6 m grading 0.3 % Cu; 0.5 % Pb; 0.9 % Zn; 1.2 g/t Au and 58.6 g/t Ag including 2.1 m grading 0.1 % Cu; 0.6 % Pb; 2.5 % Zn; 2.4 g/t Au and 105.6 g/t Ag. This drill hole represents a step out of 50 m east of LR007 (see Emerita's news release dated August 4, 2022).

Drill Hole LR024:
Drillhole LR024 intercepted both the Lower and Upper massive sulfide lenses. The Upper Lens occurs from 285.2 m and intercepted 10.7 m grading 0.9 % Cu; 3.8 % Pb; 6.6 % Zn; 1.2 g/t Au and 129.7 g/t Ag. The interval between the two lenses is 22.4 m and is characterized by disseminated sulfide mineralization. The Lower Lens consists of 30.0 m grading 0.5 % Cu; 0.6 % Pb; 0.5 % Zn; 3.0 g/t Au and 67.6 g/t Ag, including 7.5 m grading 0.3 % Cu; 0.9 % Pb; 0.1 % Zn; 7.2 g/t Au and 41.6 g/t Ag.

Drill Hole LR028:
Drill hole LR028 intercepted two lenses of massive sulphides. The Upper Lens occurs from 299.3 m with 4.4 m grading 0.3 % Cu; 2.0 % Pb; 7.3 % Zn; 1.1 g/t Au and 94.9 g/t Ag. The Lower Lens occurs 12.1 m below the Upper Lens and intercepted lower grade massive sulfides consisting of 2.8 m grading 0.5 % Cu; 0.1 % Pb; 0.1 % Zn; 0.3 g/t Au and 6.9 g/t Ag.

According to Joaquin Merino, P.Geo., President of Emerita, "Drilling to date carried out by the Company shows the existence of two semi-parallel massive sulphide lenses, which appear to merge to the west, and importantly appear to continue at depth below the present drilling. The strike extent also remains to be fully tested. At depth below approximately 500 m below surface both lenses remain open for further expansion potential with additional drilling."

Figure 1: Location map for drill holes LR018, LR020, LR024 and LR028.
https://www.globenewswire.com/NewsRoom/AttachmentNg/77499eca-2a0b-4be9-bbdb-de60b5e1df18

Figure 2: Vertical Longitudinal section of the Upper Lens at La Romanera Deposit. The dotted outline shows the approximate area included within the historical 34 million tonnes mineral resource estimate. Drill intercepts shown are from Emerita's drill campaign and not the historical drill holes.
https://www.globenewswire.com/NewsRoom/AttachmentNg/c2205115-4175-4b30-9433-c5503c819925

Figure 3: Vertical Longitudinal section of the Lower Lens at La Romanera Deposit. The dotted outline shows the approximate area included within the historical 34 million tonnes mineral resource estimate. Drill intercepts shown are from Emerita's drill campaign and not the historical drill holes.
https://www.globenewswire.com/NewsRoom/AttachmentNg/2625656f-44b8-48ca-8cbf-da48a66b5db9

Table 1. Diamond drillhole data: La Romanera.

DDH Easting Northing Elevation azimuth dip depth
(m)
FROM TO Width
(m)
Cu_% Pb_% Zn_% Au_g/t Ag_g/t LENS
LR018 646811 4172660 152 174 -57 494.0 462.3 462.9 No significant intercepts UL
LR018 481.0 483.6 No significant intercepts LL
LR020 646845 4172507 154 181 -60 354.1 281.7 298.2 16.6 0.3 0.5 0.9 1.24 58.6 LL
incl. 286.5 288.6 2.1 0.1 0.6 2.5 2.40 105.6 LL
LR024 646660 4172585 152 182 -52 369.5 285.2 295.8 10.7 0.9 3.8 6.6 1.21 129.7 UL
LR024 318.2 348.2 30.0 0.5 0.6 0.5 3.03 67.6 LL
incl. 319.8 327.3 7.5 0.3 0.9 0.1 7.24 41.6 LL
LR028 646533 4172600 144 202 -57 341.4 299.3 303.7 4.4 0.3 2.0 7.3 1.06 94.9 UL
LR028 315.8 318.6 2.8 0.5 0.1 0.1 0.32 6.9 LL

LL= Lower Lens La Romanera, UL= Upper Lens La Romanera

Quality Assurance/Quality Control

Drilling at La Romanera is HQ size and core is placed into core trays at the drill site and transported directly from the site to Emerita's coreshack (15Km) from Romanera and (8Km) from Infanta. Once the cores are received at Emerita's coreshack they are photographed and geotechnical logging is performed. Geological, mineralogical and structural logging follows and mineralized zones are identified. The samples are marked every 1m or less, and respecting lithological contacts, with most of the samples 1.0m long. The zone immediately above and below the mineralized zones are also sampled. Core samples are sawed in half and half of the core is returned to the core tray for future reference. Once the core samples are cut, bagged and tagged, they are shipped to the ALS laboratory in Seville by Emerita personnel where sample preparation is done. In Seville, ALS performs the mechanical preparation of the samples and then the pulps are sent to ALS Ireland (ICP) and ALS Romania (fire assay). The analysis at ALS Lab corresponds to the ME-ICPore (19 elements) package, together with the Au-AA23 fire assay (Gold).

10% of the analyzed samples correspond to control samples (fine blanks, coarse blanks, high, medium and low grade standards). In addition, 10% of pulps are reanalyzed at a second independent certified laboratory (AGQ Lab Sevilla). When the analysis is completed, the certificates are received from the laboratory and the QA/QC protocol identifies any deviation or anomaly in the results and the entire batch is reassayed in such case. Once the data is approved by the QA/QC protocol assays are entered digitally directly into the database.

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.

A qualified person, as defined in National Instrument 43-101, has not done sufficient work on behalf of Emerita to classify the historical estimate reported above as current mineral resources or mineral reserves and Emerita is not treating the historical estimate as current mineral resources or mineral reserves. The historical estimate should not be relied upon.

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 IBW Project; the Company's ongoing drill program and exploration efforts; the timing of assay results; the prospectivity of the Project; the timing and ability of the Company to produce an NI 43-101 compliant mineral resource estimate 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
Emerita Resources

Emerita Resources


Keep reading...Show less

Emerita Announces Closing of $20 Million Bought Deal Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Emerita Resources Corp. (" Emerita " or the " Company ") (TSXV: EMO) is pleased to announce that it has closed its previously announced bought deal private placement of units of the Company (the " Units ") pursuant to which the Company issued 18,182,500 Units at a price of $1.10 per Unit (the " Offering Price ") for aggregate gross proceeds of $20,000,750 (the " Offering "), which included the full exercise of the Underwriters' option to purchase additional Units. The Offering was led by Clarus Securities Inc. and Research Capital Corporation, as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters (collectively, the " Underwriters ") that included iA Private Wealth Inc.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Emerita Resources Corp. Announces Increase to "Bought Deal" Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Emerita Resources Corp. (TSXV:EMO) (the " Company ") is pleased to announce today that, due to strong demand, it has agreed with Clarus Securities Inc. (" Clarus ") and Research Capital Corporation (" Research Capital ") as co-lead underwriters and joint bookrunners on behalf of a syndicate of underwriters (collectively, the " Underwriters "), to increase the size of its previously announced C$10,000,100 "bought deal" private placement offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a "bought deal" private placement basis 14,546,000 units of the Company (the " Units ") at a price of C$1.10 per Unit (the " Offering Price ") for aggregate gross proceeds to the Company of C$16,000,600 (the " Offering "). Each Unit will be comprised of one common share of the Company (a " Unit Share ") and one half of one common share purchase warrant (each whole common share purchase warrant, a " Warrant "). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a " Warrant Share ") at a price of C$1.50 for a period of 24 months following the Closing Date (as defined below).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Emerita Resources Corp. Announces $10,000,100 "Bought Deal" Financing

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Emerita Resources Corp. (TSXV:EMO) (the "Company") is pleased to announce that it has entered into an agreement with Clarus Securities Inc. and Research Capital Corporation as co-lead underwriters and joint book runners on behalf of a syndicate of underwriters (collectively, the "Underwriters") to purchase, on a bought deal private placement basis, 9,091,000 Units of the Company at a price of $1.10 per Unit, for aggregate gross proceeds of $10,000,100 (the " Offering "). The Company has also granted to the Underwriters an option to purchase an additional 1,363,650 Units at the same price, exercisable by the Underwriters for a period of up to two days prior to closing of the Offering for additional gross proceeds of up to $1,500,015.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Emerita Announces Closing of $3 Million Strategic Private Placement by Eric Sprott

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Emerita Resources Corp. (" Emerita " or the " Company ") (TSXV: EMO) is pleased to announce that it has closed its previously announced non-brokered private placement of 13,636,363 units of the Company (the " Units ") at a price of $0.22 per Unit (the "Offering").

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Emerita Announces $3 Million Strategic Private Placement by Eric Sprott

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Emerita Resources Corp. (" Emerita " or the " Company ") (TSXV: EMO) is pleased to announce that it intends to complete a non brokered private placement for gross proceeds of $3,000,000 through the issuance of up to 13,636,363 of units of the Company (the " Units ") to be priced at $0.22 per Unit (the "Offering"). Mr. Eric Sprott has indicated his intention to subscribe for the entire Offering.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Court Date Has Been Scheduled for Aznalcóllar Criminal Trial

Court Date Has Been Scheduled for Aznalcóllar Criminal Trial

Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") announces that the Third Section of the Provincial Court of Seville (the "Court") has set March 3, 2025 as the date for the criminal trial on the alleged crimes committed during the process of awarding the Aznalcóllar tender. The trial is an oral hearing that is expected to be completed on July 15, 2025.

The Court has reserved up to 40 sessions including days in March, April, May, June and July 2025. The oral trial has been scheduled at 10:00 AM (local Seville time) on the following days:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
1844 Announces Clarification to Press Release Issued November 23, 2022

1844 Announces Clarification to Press Release Issued November 23, 2022

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") announces a clarification to its press release entitled "Completes Public Offering of Common Shares" issued on November 23, 2022 (the "Initial Press Release").

The Initial Press Release used the phrase "syndicate of selling brokers". For clarification, Leede Jones Gable Inc. was the sole agent and book runner for the offering, and there were no member firms that formed a syndicate. This clarification does not change any other information reported in the Initial Press Release.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
1844 Completes Public Offering of Common Shares

1844 Completes Public Offering of Common Shares

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to announce that it has closed its previously announced best efforts public offering of 10,164,000 common shares in the capital of the Company (the "Common Shares") at a price of $0.05 per Common Share for aggregate gross proceeds of $508,200 (the "Offering"). For further details on the Offering, see the Company's news release dated July 21, 2022.

The Offering was conducted by Leede Jones Gable Inc. (the "Lead Agent") and included a syndicate of selling brokers, including Raymond James Ltd., Richardson Wealth, Echelon Wealth Partners Inc. and Equity Capital Markets Compensation Securities (collectively with the Lead Agent, the "Agents"). On closing of the Offering (the "Closing"), the Company issued to the Agents an aggregate of 813,120 non-transferable compensation options (the "Agent's Options"), with each Agent's Option entitling the holder to purchase one Common Share at a price of $0.05 per Common Share for 36 months from the date of issuance. In connection with the Offering, the Company also paid to the Agents a cash commission of $40,565, being 8.0% of the gross proceeds of the Offering, and a corporate finance fee of $25,000.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD ANNOUNCES EXTENSION OF RIO TINTO'S RIGHTS

WESTERN COPPER AND GOLD ANNOUNCES EXTENSION OF RIO TINTO'S RIGHTS

Rights associated with the Investor Rights Agreement have been Extended

Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN); (NYSE American: WRN) announces that Rio Tinto Canada Inc. ("Rio Tinto") has exercised its right to extend certain rights under the investor rights agreement (the "Agreement") between the Company and Rio Tinto dated May 28, 2021 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Fabled Copper Announces Results of Annual General Meeting

Fabled Copper Announces Results of Annual General Meeting

Fabled Copper Corp. ("Fabled Copper" or the "Company") (CSE:FABL)(FSE:XZ7) announces that all proposed resolutions were approved at the Company's Annual General Meeting of Shareholders held on October 27, 2022

Shareholders voted in favor of all the resolutions proposed by the Board of Directors and management of the Company. A total of 23,250,379 common shares were voted, representing 13.39% of total shares issued and outstanding as of the record date.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Renforth Raises an Oversubscribed Total of $1,558,100

Renforth Raises an Oversubscribed Total of $1,558,100

(TheNewswire)

Renforth Resources Inc.

November 23, 2022 TheNewswire - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") announces that the previously announced private placement has closed oversubscribed, with a total of $1,558,100 gross funds raised in a combination of flow through and non-flow through funds. The Company has closed the final tranches of the previously announced non-brokered private placement for additional gross proceeds of C$869,300 from the sale of 580,000 non-flow through units of the Company at a price of C$0.035 per unit and 21,225,000 flow-through units of the Company at a price of C$0.04 per flow-through unit. Each non-flow through unit consisted of one common share of the Company and one common share purchase warrant. Each flow through unit consisted of one common share to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one half of one warrant. Each whole warrant entitles the holder to purchase one common share at a price of C$0.06 for a period of 24 months following the distribution date. In connection to this tranche of the financing, the company paid a cash commission of $44,850 and issued 1,207,000 finders warrants. The finders warrants are exercisable at a price of C$0.06 for a period of 24 months.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×