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Emerita Resources Files Exploitation Licence Application for IBW Project
TORONTO, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (“Emerita” or the “Company”) (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) announces that through it
About this update from Emerita Resources Corp.
[{"type":"text","content":" TORONTO, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (“Emerita” or the “Company”) (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) announces that through its wholly-owned Spanish subsidiary, Emerita Resources España S.L.U., it has submitted an application to the \"Delegación Territorial de Energía y Minas in Huelva province, Junta de Andalucia\" (the “Junta”) for an exploitation licence (the “Exploitation Licence”) for Emerita’s wholly-owned Iberian Belt West project (“IBW” or the “Project”). The Exploitation Licence in Spain, when granted, has a 30-year term and can be extended for two subsequent 30-year periods. Under Spanish regulations, in support of its Exploitation License application, Emerita has 3 months to submit certain additional documentation to supplement the application for the Exploitation Licence including an environmental impact study and mining plan. All documentation required to support the Exploitation Licence is currently being prepared by Emerita in a form designed to meet the criteria required to complete the Exploitation Licence application. The Exploitation Licence, when granted, shall allow the Company to continue to conduct exploration and development activities at the Project. During the time that the Exploitation Licence is being reviewed by the Junta, Emerita’s rights under its current exploration licence for the IBW project are extended allowing Emerita to continue with its ongoing exploration program at La Romanera, La Infanta and El Cura deposits at IBW. Definitive feasibility studies and detailed engineering will be completed in due course under the Exploitation Licence in order to finalize the development project that will ultimately be presented for final permitting. According to Joaquin Merino, P.Geo., President of Emerita, “This application marks a milestone for Emerita as it marks the key transition to advancing the IBW project from purely exploration to the technical development stage with a focus on activities necessary to develop a potential future operation. Local Spanish authorities have expressed support for the application in recent meetings. The Company has been working with a well-respected Spanish engineering firm on conceptual mine plans in order to develop options for infrastructure locations and this along with the metallurgical testing that is in progress will...