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Emerita Resources Provides Initial Drill Results for El Cura Deposit, Iberian Belt West Project, Spain
TORONTO, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA) (the “Company” or “Emerita”) is pleased to provide an
About this update from Emerita Resources Corp.
[{"type":"text","content":" TORONTO, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA) (the “Company” or “Emerita”) is pleased to provide an update from exploration drilling at the El Cura deposit which is part of Emerita’s wholly owned Iberian Belt West project (“IBW” or the “Project”). IBW hosts three previously identified massive sulfide deposits: La Infanta, La Romanera and El Cura. Results contained in this release are from El Cura. All three IBW deposits are open for expansion along strike and at depth. Ian Parkinson, EVP Corporate Development notes, “The El Cura Deposit is the one that we have the least historical data for and as such requires more of an exploration approach to locate the mineralized zone referred to by historical archived documents, primarily from RTZ exploration in the 1980’s.” Background First worked during Roman times, the El Cura mine has seen several periods of activity in the modern era during the late 19th Century and mid to later 20th Century. The most extensive workings on the polymetallic volcanogenic massive sulfide (VMS) mineralization consisted of a 100m shaft and three investigatory sublevels made at some time during the World War 2 era. No production records have been mentioned in the historic literature. More recently, assessments were made by Phelps Dodge and Rio Tinto from the 1970’s through the early 1990’s, with work including geophysical surveys and drill testing. Internal company reports by Rio Tinto calculated resource estimates ranging from 1Mt to 3Mt and a 1982 geological synthesis of the southwest Iberian Pyrite Belt by the Spanish Ministry of Industry and Energy (IGME) stated a mineral resource estimate of 1.0 Mt @ 1.85% Cu, 2.0% Pb, 4.0% Zn (Au and Ag were not estimated). A qualified person, as defined in National Instrument 43-101, has not done sufficient work on behalf of Emerita to classify the historical estimate reported above as current mineral resources or mineral reserves and Emerita is not treating the historical estimate as current mineral resources or mineral reserves. The historical estimate should not be relied upon. Emerita Exploration Work El Cura is centrally located within the Company’s wholly owned IBW concession, approximately 3km southeast from La Romanera and along the same mineralized trend as La Infanta (Figure 1). First work by Emer...