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Emerita Resources Announces Drill Results and Increases Number of Drills to 10 Rigs at the Iberia Belt West Project
TORONTO, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF) (the “Company” or “Emerita”) is pleased to announce that it con
About this update from Emerita Resources Corp.
[{"type":"text","content":" TORONTO, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF) (the “Company” or “Emerita”) is pleased to announce that it continues to accelerate drilling at its wholly owned Iberia Belt West project (“IBW” or the “Project”). Presently there are 9 drills on the La Romanera deposit delineation and 1 rig continues to drill at Infanta. Assay results have been received from drill holes at the La Romanera deposit (3 drill holes) and the La Infanta deposit (2 drill holes) reported below. To date, 23 drill holes have been completed on the La Romanera deposit which is the main focus of the IBW program. According to Joaquin Merino, P.Geo., President of Emerita: “The additional drills will ensure the Company stays on track to meet our objectives with respect to delineating the La Romanera deposit. Restrictions on drilling between 2-8 PM, related to high temperatures and resulting forest fire index, are also expected to end by September 21 as temperatures moderate which will allow 24 hour operations to resume and boost productivity as well. Hunting season, which commences October 15, is not expected to impact the drill program at the La Romanera deposit.” David Gower, P.Geo., CEO of Emerita, points out, “We continue to intersect wide thicknesses of massive sulphide and are excited to see the results continue to build toward a maiden NI 43-101 resource estimate. The Company is in a strong financial position with more than $20 million in the treasury which is well above the budget for completing the campaign. Presently, there are 8 additional drill holes in the lab and 8 additional drill holes in progress at La Romanera (one rig is under repair). At La Infanta, there are 3 drill holes at the lab and one hole is in progress.” La Romanera Drill holes LR009, LR013 and LR015 intercepted massive sulphide mineralization between 200 and 450 meters below surface. Holes LR013 and LR009 are along section 6700, and about 250 m apart and returned excellent widths and grades. The deposit in this area is very continuous in thickness and grades including elevated grades of gold and silver. Hole LR015, located at the western edge of the historical drilling, intercepted 20.5 m of massive pyrite but no significant base or precious metal values metals were obtained in this drill hole. The sulphide lens is thick and it is cha...