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Resources Co. Continues To Deliver Golden Results

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Emerita Resources Corp. has released assay results from two of its properties on the Iberian West Belt. Click here for insight into the results and their future plans for other deposits.

Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCMKTS; LLJ:FSE) has released new assay results from La Romanera deposit and La Infanta deposit. The results have revealed significant mineralization in areas not covered by previous assay results released in November and January of 2022.

Emerita Resources Corp. is a Canadian-based company with three major projects in Spain; Iberian Belt West, Nuevo Tintillo and Anzalcollar.  The Iberian Belt West Project is combination of: La Romanera, La Infanta, and El Cura deposits. The Nuevo Tintillo project is 6,875 hectares of prime exploration ground adjacent to the world famous Rio Tinto Mine with an additional 7,625 hectares under application for exploration license.  Aznalcollar is part of an ongoing court case in Spain that may see the asset awarded to Emerita in 2025.

Assay Results

Emerita has released the assay results for 15 drill holes on La Romanera deposit and 7 drill holes on La Infanta deposit both part of the Iberian Belt West project .

  • Drill Hole LR029's upper lens intersected 0.3% copper (Cu), 0.3% lead (Pb), 0.7% zinc (Zn), 0.44 g/t gold (Au), and 35.0 g/t silver (Ag) over 4.8m at a depth of 338.0m. The lower lens intersected 0.8% Cu, 0.2% Pb, 0.5% Zn, 0.22 g/t Au, and 13.3 g/t Ag over 4.9m at a depth of 37.1m.
  • Drill Hole LR067's upper lens intersected 0.3% Cu, 3.3% Pb, 3.6% Zn, 3.98 g/t Au, and 178.4 g/t Ag over 2.2m at a depth of 195.4m. The lower lens intersected 0.3% Cu, 1.0% Pb, 2.2% Zn, 1.39 g/t Au, and 80.5 g/t Ag over 13.0m, and 0.3% Cu, 1.4% Pb, 3.7 Zn, 2.16 g/t Au, and 81.0 g/t Ag over 4.0m.
  • Drill Hole LR069's upper lens intersected 0.2% Cu, 1.3% Pb, 3.2% Zn, 0.54 g/t Au, and 55.7 g/t Ag over 22.9m at a depth of 216.5m. This included 0.2% Cu, 3.3% Pb, 8.6% Zn, 0.50 g/t Au, and 88.5 g/t Ag over 3.9m. The lower lens intersected 0.1% Cu, 1.0% Pb, 1.5% Zn, 1.60 g/t Au, and 39.7 g/t Ag over 7.3m at a depth of 294.8m.
  • Drill Hole LR076's lower lens intersected 0.2% Cu, 1.8% Pb, 4.9% Zn, 1.44 g/t Au, and 83.0 g/t Ag over 6.3m at a depth of 157.3m.
  • Drill Hole LR081's upper lens intersected 0.3% Cu, 0.5% Pb, 1.1% Zn, 0.7 g/t Au, and 26.3 g/t Ag over 7.5m at a depth of 260.2m. The lower lens intersected 0.5% Cu, 1.1% Pb, 3.0% Zn, 1.82 g/t Au, and 43.3 g/t Ag over 28.0m at a depth of 297.7m.
  • Drill Hole LR089's lower lens intersected 0.1% Cu, 0.4% Pb, 1.0% Zn, 0.50 g/t Au, and 15.9 g/t Ag over 4.4m at a depth of 479.2m.
  • Drill Hole LR093's upper lens intersected 0.2% Cu, 2.1% Pb, 6.5% Zn, 2.83 g/t Au, and 117.5 g/t Ag over 4.5m at a depth of 180.0m. The lower lens intersected 0.3% Cu, 0.8% Pb, 2.4% Zn, 0.99 g/t Au, and 46.8 g/t Ag over 3.7m at a depth of 279.8m.
  • Drill Hole LR097's lower lens intersected 0.4% Cu, 0.3% Pb, 0.2% Zn, 0.78 g/t Au, and 40.3 g/t Ag over 22.8 at a depth of 518.6m.
  • Drill Hole LR100's lower lens intersected 0.7% Cu, 0.2% Pb, 0.8% Zn, 0.23 g/t Au, and 3.5 g/t Ag over 3.4m at a depth of 461.7m.
  • Drill Hole LR101's lower lens intersected 0.6% Cu, 2.2% Pb, 7.8% Zn, 1.26 g/t Au, and 57.6 g/t Ag over 1.8m at a depth of 523.9m.
  • Drill Hole LR102's lower lens intersected 0.1% Cu, 0.4% Pb, 1.2% Zn, 0.49 g/t Au, and 13.1 g/t Ag over 3.2m at a depth of 501.7m.
  • Drill Hole LR104's upper lens intersected 0.6% Cu, 1.4% Pb, 2.3% Zn, 0.90 g/t Au, and 45.6 g/t Ag over 14.8m at a depth of 458.3m, including 0.3% Cu, 3.5% Pb, 6.0% Zn, 1.07 g/t Au, and 71.0 g/t Ag over 5.0m. The lower lens intersected 0.5% Cu, 0.3% Pb, 0.5% Zn, 0.44 g/t Au, and 32.3 g/t Ag over 3.9m at a depth of 486.9m.
  • Drill Hole LR115 intersected 0.2% Cu, 1.9% Pb, 4.1% Zn, 4.01 g/t Au, and 84.1 g/t Ag over 32.6m at a depth of 138.9m, including 0.1% Cu, 2.3% Pb, 3.4% Zn, 7.07 g/t Au, and 99.9 g/t Ag, over 3.5m at a depth of 155.0m.

The drilling at La Infanta was less intensive. The deposit is divided into two sections, the North and the South Blocks.

The most productive drill holes were located in the central area of the deposit. Drill Hole IN067 in particular explored a gap between drill holes whose results were reported on in November of 2022. The following are the results from La Infanta:

  • Drill Hole IN060B, on the North Block, intersected 0.9% Cu, 2.6% Pb, 6.0% Zn, 0.28 g/t Au, and 43.0 g/t Ag over 4.6m at a depth of 95.4m, including 2.5% Cu, 7.3% Pb, 16.9% Zn, 0.41 g/t Au, and 111.0 g/t Ag over 1.6m.
  • Drill Hole IN064, on the North Block, intersected 0.2% Cu, 1.5% Pb, 1.3% Zn, 0.25 g/t Au, and 27.3 g/t Ag over 8.4m at a depth of 166.7m.
  • Drill Hole IN065, on the North Block, intersected 0.5% Cu, 2.2% Pb, 1.4% Zn, 0.11 g/t Au, and 40.2 g/t Ag over 3.7m at a depth of 148.0m.
  • Drill Hole IN066, on the North Block, intersected 0.9% Cu, 3.1% Pb, 5.8% Zn, 0.20 g/t Au, and 64.4 g/t Ag, over 2.7m at a depth of 244.5m.
  • Drill Hole IN067, on the North Block, intersected 0.7% Cu, 2.5% Pb, 4.7% Zn, 0.18 g/t Au, and 137.9 g/t Ag, over 3.1m at a depth of 49.7m. On the South Block, the drill intersected 2.1% Cu, 6.5% Pb, 12.3% Zn, 0.63 g/t Au, and 214.5 g/t Ag over 6.5m at a depth of 108.2m. It intersected the South Block again with 2.6% Cu, 13.6% Pb, 24.3% Zn, 0.48 g/t Au, and 131.4 g/t Ag over 5.3m at a depth of 149.2m.

Why Gold and Silver?

As confidence in the economy continues along a tenuous thread, gold continues to do well. The Wall Street Journal reported that these economic concerns have driven gold up to US$2,000 a troy ounce.

According to Reuben Adams of Stockhead, "Confidence is slowly returning to stock markets after a few days without a bank sell-off. Still, the underlying vulnerabilities remain, and gold, as an investment safe haven, remains poised to scale record highs."

Research Capital estimated in 2022 that the criminal trial over the Aznalcóllar tender will wrap up in three years, and the court will take between six and 18 months to render its decision.

Adams observes that the prices for gold appear to be hovering around the US$2000 record mentioned by The Wall Street Journal, periodically dipping slightly above and slightly below that number.

While the future of gold is not dire, Rick Mills of Ahead of the Herd has suggested that silver could overtake gold's value. Mills discusses two factors that could increase the value of silver: its use in energy, since "CME Group reports that 114 million troy ounces were used to create solar panels, and demand for silver used in batteries and electronics has doubled since the '90s," and the metal's relationship to growth in the Chinese market.

According to Mills, "short-term changes in the gold-silver ratio appear to follow the pace of growth in China's industrial sector . . .  the [Li Keqiang Index] shows exceptionally strong positive correlations with the prices of many commodities one-year forward."

Catalyst: Potential in Unexplored Deposits

Emerita has a number of short-term catalysts to report, including the recent discovery of a new alteration zone between El Cura and La Infanta. El Cura is also thought to contain a high-grade copper deposit.

Technical analyst Clive Maund noted that Emerita was looking "increasingly positive."

Emerita is also expecting the court case surrounding the Aznalcollar public tender to be settled in Q2 of 2025. Aznacollar contains one of the largest known undeveloped zinc assets. It contains the Los Frailes deposit and another known deposit that has yet to be explored.

Research Capital estimated in 2022 that the criminal trial over the Aznalcóllar tender will wrap up in three years, and the court will take between six and 18 months to render its decision.

Emerita currently has 15 drill rigs turning, and their goal is an initial  20Mt+ high-grade polymetallic deposits. Emerita plans the release its maiden resource estimate in Q2/23.  The company also anticipates starting metallurgical testing in the near term.  Exploration efforts will continue through 2023.  IBW remains open for additional discovery and the Nuevo Tintillo project will see initial exploration drilling later in 2023.

On the back of the resource, metallurgical, and continued exploration results, they plan to accelerate permitting at IBW. Environmental baseline studies were started in April of 2022, and they plan to apply for an exploitation permit in later this year. 


In a March release, technical analyst Clive Maund shared the above chart and noted that Emerita was looking "increasingly positive."

Streetwise Ownership Overview*

Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCMKTS; LLJ:FSE)

*Share Structure as of 4/5/2023

Ownership and Share Structure

According to Reuters, 15.17% of Emerita's stock is held by management and insiders.

CEO David Gower owns 1.21% or 2.51 million shares. Chairman Lawrence Guy owns 1.22% or 2.52 million shares, and Director Marilia Bento owns 0.48% or 1 million shares.

16.85% is held by institutions, the most significant of which is 2176423 Ontario Ltd., which owns 9.87% or 20.45 million shares, according to Reuters.

The rest is in retail.

Emerita has 207.32 million shares, 8.8 million warrants, and 18.85 million options. Its market cap is CA$166 million. It trades in the 52-week period between CA$0.4119 and CA$2.2100.

Emertia reports that they have CA$23.63 million in the bank, and no monthly burn rate or monthly drilling cost.

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1) Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor/employee. She or members of her household own securities of the following companies mentioned in the article: none. She or members of her household are paid by the following companies mentioned in this article: none. Her company has a financial relationship with the following companies referred to in this article: none.

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