Joaquin Merino, P.Geo., President of Emerita, notes, "Our drill campaign remains on track, and we plan to lock the database in mid-February in order to proceed with the initial NI 43-101 mineral resource estimate for the IBW Project. We expect to have the mineral resource estimate completed in early Q2. We are presently reviewing proposals for metallurgical testing and this work will commence this quarter also. Our environmental baseline studies are also progressing and expected to be completed in April. The baseline study is a key deliverable for the permitting process."
Following is a summary of the diamond drill intercepts:
Drill Hole LR036B: The Upper Lens was intersected at 337.3 m down the hole and comprises 1.8 m of stockwork mineralization grading 0.2 % Cu; 0.3 % Pb; 0.3 % Zn; 1.93 g/t Au and 24.8 g/t Ag .
Drill Hole LR042B: The Upper Lens was intersected at 352.6 m down the hole and comprises 8.0 m grading 0.2 % Cu; 2.8 % Pb; 4.5 % Zn; 1.30 g/t Au and 72.4 g/t Ag, including 3.8 m grading 0.2 % Cu; 5.8 % Pb; 8.7 % Zn; 2.51 g/t Au and 139.3 g/t Ag, from 354.1 m.
The Lower Lens was intersected at 389.8 m down the hole. Mineralization is characterized by polymetallic massive sulphides and encountered 4.9 m grading 0.4 % Cu; 0.5 % Pb; 1.5 % Zn; 0.12 g/t Au and 7.3 g/t Ag .
Drill Hole LR049: The Upper Lens was intersected at 286.8 m down the hole and comprises 2.8 m grading 0.4 % Cu; 0.6 % Pb; 1.2 % Zn; 0.54 g/t Au and 24.0 g/t Ag .
The Lower Lens was intersected at 296.2 m down the hole. Mineralization is characterized by polymetallic massive sulphides and encountered 3.5 m grading 0.1 % Cu; 1.2 % Pb; 2.1 % Zn; 1.08 g/t Au and 51.6 g/t Ag .
Drill Hole LR051: The Lower Lens was intersected at 488.9 m down the hole. Mineralization is characterized by polymetallic massive sulphides and encountered 18.0 m grading 0.4 % Cu; 0.5 % Pb; 0.7 % Zn; 0.44 g/t Au and 21.4 g/t Ag, including 2.3 m grading 0.4 % Cu; 1.9 % Pb; 2.2 % Zn; 1.00 g/t Au and 72.1 g/t Ag, from 503.4 m.
Drill Hole LR053: The Lower Lens was intersected at 373.7 m down the hole and comprises 36.5 m grading 0.3 % Cu; 0.6 % Pb; 0.5 % Zn; 0.47 g/t Au and 36.3 g/t Ag .
Drill Hole LR058: The Upper Lens was intersected at 374.6 m down the hole and comprises 4.7 m grading 0.1 % Cu; 0.6 % Pb; 1.3 % Zn; 0.36 g/t Au and 33.5 g/t Ag .
Drill Hole LR064: The Lower Lens was intersected at 507.2 m down the hole. Mineralization is characterized by polymetallic massive sulphides and encountered 24.3 m grading 0.2 % Cu; 2.0 % Pb; 5.1 % Zn; 1.16 g/t Au and 100.5 g/t Ag , including 7.1 m grading 0.2 % Cu; 3.1 % Pb; 12.4 % Zn; 0.80 g/t Au and 67.7 g/t Ag, from 507.2 m.
Drill Hole LR065: The drill hole did not intersect any significant base metal mineralization.
Drill Hole LR066: This hole intercepts the Lower Lens only. The hole encountered 3.8 m of sulphide mineralization at 346.0 m down the hole. The most abundant mineral is pyrite. The intersect returned 0.3 % Cu; 0.5 % Pb; 0.8 % Zn; 0.53 g/t Au and 18.4 g/t Ag .
Drill Hole LR077: The drill hole did not intersect any significant base metal mineralization.
Drill Hole LR082: A stockwork was intersected at 445.3 m down the hole and comprises 11.2 m grading 1.6 % Cu; 0.1 % Pb; 0.0 % Zn; 0.58 g/t Au and 18.3 g/t Ag .
The Upper Lens was intersected at 461.5 m down the hole and comprises 4.5 m grading 2.3 % Cu; 0.1 % Pb; 0.0 % Zn; 0.56 g/t Au and 45.3 g/t Ag .
The Lower Lens was intersected at 474.0 m down the hole. Mineralization is characterized by polymetallic massive sulphides and encountered 4.2 m grading 0.1 % Cu; 2.8 % Pb; 4.1 % Zn; 1.42 g/t Au and 76.3 g/t Ag .
Drill Hole LR086: This hole intercepts the Lower Lens only. The hole encountered 18.5 m of sulphide mineralization at 203.8 m down the hole. The most abundant mineral is pyrite. The intersect returned 0.4 % Cu; 1.1 % Pb; 2.5 % Zn; 0.57 g/t Au and 28.4 g/t Ag .
Figure 1: Plan map showing drill hole trace surface projections, La Romanera deposit
View Figure 1 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/ee053624-40c7-4d09-b2eb-370de750a812
Figure 2: Longitudinal section showing intercepts in the Upper Lens, La Romanera Deposit
View Figure 2 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/f0a9aa4b-3ecc-4d93-b00b-35ca99615ded
Figure 3: Longitudinal section showing intercepts in the Lower Lens, La Romanera Deposit
View Figure 2 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/67f57f6f-3d9b-4a9d-b41a-ba6ff80dbf24
| DDH | Easting | Northing | Elevation | azimuth | dip | depth
(m) | FROM | TO | Width
(m) | Cu_% | Pb_% | Zn_% | Au_g/t | Ag_g/t | LENS |
| LR036B | 646435 | 4172638 | 154 | 204 | -69 | 386.2 | 337.3 | 340.3 | 3.1 | 0.1 | 0.2 | 0.2 | 1.15 | 14.8 | UL |
| LR042B | 646533 | 4172600 | 144 | 207 | -69 | 413.3 | 352.6 | 360.6 | 8.0 | 0.2 | 2.8 | 4.5 | 1.30 | 72.4 | UL |
| incl. | | | | | | | 354.1 | 357.9 | 3.8 | 0.2 | 5.8 | 8.7 | 2.51 | 139.3 | UL |
| LR042B | | | | | | | 389.8 | 394.7 | 4.9 | 0.4 | 0.5 | 1.5 | 0.12 | 7.3 | LL |
| LR049 | 646414 | 4172539 | 142 | 217 | -79 | 312.3 | 286.8 | 289.5 | 2.8 | 0.4 | 0.6 | 1.2 | 0.54 | 24.0 | UL |
| LR049 | | | | | | | 296.2 | 299.6 | 3.5 | 0.1 | 1.2 | 2.1 | 1.08 | 51.6 | LL |
| LR051 | 646597 | 4172725 | 144 | 201 | -65 | 524.0 | 488.9 | 506.8 | 18.0 | 0.4 | 0.5 | 0.7 | 0.44 | 21.4 | LL |
| incl. | | | | | | | 503.4 | 505.7 | 2.3 | 0.4 | 1.9 | 2.2 | 1.00 | 72.1 | LL |
| LR053 | 646716 | 4172736 | 146 | 201 | -56 | 533.0 | 473.7 | 510.2 | 36.5 | 0.3 | 0.6 | 0.5 | 0.47 | 36.3 | LL |
| LR058 | 646533 | 4172600 | 144 | 210 | -73 | 419.6 | 374.6 | 379.3 | 4.7 | 0.1 | 0.6 | 1.3 | 0.36 | 33.5 | UL |
| LR064 | 646802 | 4172735 | 150 | 198 | -55 | 559.5 | 507.2 | 531.5 | 24.3 | 0.2 | 2.0 | 5.1 | 1.16 | 100.5 | LL |
| incl. | | | | | | | 507.2 | 514.3 | 7.1 | 0.2 | 3.1 | 12.4 | 0.80 | 67.7 | LL |
| LR065 | 646597 | 4172725 | 144 | 237 | -64 | 586.1 | NO SIGNIFICANT INTERSECTS | |
| LR066 | 646533 | 4172600 | 144 | 221 | -61 | 364.9 | 346.0 | 349.8 | 3.8 | 0.3 | 0.5 | 0.8 | 0.53 | 18.4 | LL |
| LR077 | 646435 | 4172638 | 154 | 184 | -68 | 378.7 | NO SIGNIFICANT INTERSECTS | |
| LR082 | 646716 | 4172736 | 146 | 191 | -52 | 514.0 | 445.3 | 456.5 | 11.2 | 1.6 | 0.1 | 0.0 | 0.58 | 18.3 | UL |
| LR082 | | | | | | | 461.5 | 466.0 | 4.5 | 2.3 | 0.1 | 0.0 | 0.56 | 45.3 | LL |
| LR082 | | | | | | | 474.0 | 478.2 | 4.2 | 0.1 | 2.8 | 4.1 | 1.42 | 76.3 | LL |
| LR086 | 646335 | 4172525 | 138 | 191 | -76 | 233.4 | 203.8 | 222.2 | 18.5 | 0.4 | 1.1 | 2.5 | 0.57 | 28.4 | LL |
Table 1: Diamond drill hole data, La Romanera deposit. 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.
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 IBW Project; 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.
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