The Conversation (0)
Emerita Resources Corp. (TSXV: EMO) (OTCQX: EMOTF) (FSE: LLJA) (the "Company" or "Emerita") is pleased to announce that the Andalusian Business Agency for Economic Transformation and Development ("Agencia Empresarial para la Transformación y el Desarrollo Económico"; "TRADE") of the Andalusian Regional Government ("Junta de Andalusia") has awarded the Company's Spanish operating entity a €108,877 grant to advance metallurgical innovation for the Company's wholly-owned Iberian Belt West project ("IBW" or the "Project").
The funding supports the company's research and development project IBW-3METAu ("Maximisation of the Value of Metal Concentrates in the IBW Project of Emerita Resources: An Innovation and Sustainability Approach"), with a total eligible budget of €311,077. The 23-month project is being carried out at Emerita's facilities in Puebla de Guzmán (Huelva). It focuses on developing advanced metallurgical processes to:
- Enhance copper, zinc and lead concentrate quality currently in demand by European smelters.
- Recover high-purity antimony, a Critical Raw Material, from these concentrates.
- Generate higher-value metallic products and intermediates closer to the mine site.
IBW comprises the Infanta, El Cura and La Romanera polymetallic deposits in the western Iberian Pyrite Belt. The grant represents 35% of the eligible budget and is awarded under the industrial research and experimental development stream of the Andalusia ERDF 2021-2027 Program, which is 85% co-financed by the European Union. The grant is payable as a single payment following completion and justification of the eligible activities, subject to compliance with the terms of the award.
Program Objectives
The Program is expected to provide technical data that will inform future process design and engineering options and assist with the optimization of metal recoveries and resource value at IBW. By enabling greater metal recovery, reducing the need to ship concentrates outside the European Union for refining, and recovering strategic materials such as antimony, the project aligns with the objectives of the European Critical Raw Materials Act and supports the principles of creating a circular economy and sustainable mining.
Emerita's President and CEO, Joaquin Merino, states, "We are pleased that the Junta de Andalusia, in a shared initiative with European Union, view the IBW Project as one with potential to be an important source of raw materials for the European Union. This grant represents non-dilutive funding and support for a program to optimize concentrate marketability, metal recoveries and project economics. Through innovation, successful findings from this R&D work will help de-risk the path toward industrial-scale processing while creating a value-chain that meets the Critical Raw Materials demand as announced by the European Union."
Emerita has submitted proposals for additional funding initiatives promoting innovation through collaboration between the Regional Andalusian Government and the European Union. The selection of the IBW project shows that IBW has garnered interest and support both from the regional government and from the EU, establishing the project as one of critical importance as it continues to advance to the execution stage.
Qualified Person
Scientific and technical information in this news release has been reviewed and approved by Danniel Oosterman, P.Geo., who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and Project Director of Emerita Resources Corp.
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 prospectivity of the IBW project and El Cura, the mineralization and the IBW project, the economic viability of the IBW project, the metallurgy of the IBW project, the Company's exploration program, the Company's future exploration plans 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309843
