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Emerita Provides Update on the Progress of IBW Project’s Ongoing Prefeasibility Study
TORONTO, June 30, 2026 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX-V: EMO; OTCQX: EMOTF; FSE: LLJA) (the “Company” or “Emerita”) provides an update on the progress of the ongoing Prefeasibility Study (“PFS”) that was commenced in December 2025 (see Company’s press release dated December 3, 2025) for its wholly owned Iberian Belt West project (“IBW” or the “Project”). The PFS is being designed to meet NI 43-101 requirements and was initially expected to be completed within approximately six
About this update from Emerita Resources Corp.
TORONTO, June 30, 2026 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX-V: EMO; OTCQX: EMOTF; FSE: LLJA) (the "Company" or "Emerita") provides an update on the progress of the ongoing Prefeasibility Study ("PFS") that was commenced in December 2025 (see Company's press release dated December 3, 2025) for its wholly owned Iberian Belt West project ("IBW" or the "Project"). The PFS is being designed to meet NI 43-101 requirements and was initially expected to be completed within approximately six months (by June 2026). The Company now expects to publish the results of the PFS during the third quarter of 2026. As work on the PFS has progressed, several positive opportunities have been identified that warrant further evaluation and additional metallurgical test work. The Company believes it is appropriate to complete this work before selecting the preferred development scenario and finalizing the PFS. The bulk of the PFS design work is complete, including the underground mine design, surface layout design with a flotation process plant to a basic engineering design level, as well as a Railveyor™ underground-to-surface discharge loop onto run-of-mine pad design. The selection of the preferred metallurgical process will form the basis for an updated Mineral Resource Estimate, mine stope optimization and sequencing for the PFS, and the economic evaluation for the IBW Project. Recent additions to Emerita's Board of Directors (see the Company's press releases dated June 3, 2026, and June 8, 2026) have expanded the Board's technical and mining expertise. The small delay in the release of the PFS allows extra time for the new directors to get fully immersed in the project and provide valuable technical input. The technical test work by the Company related to metallurgical recoveries has continued concurrent to the PFS engineering design work and as a result, the Company has identified potential optimizations in the metallurgical process flowsheet that are expected to result in economic and operational improvements. In order to incorporate these processes, additional test results are required in order to satisfy PFS level technical requirements. Joaquin Merino, President and CEO of Emerita Resources, states, "The new data from preliminary testing of at least two new approaches to the metallurgical plan show potential to improve operating costs and r...
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