Announcement • Jun 03
Emerita Resources Corp. Reports Drilling Results At La Infanta Deposit
Emerita Resources Corp. reported results from recent drilling at its La Infanta deposit. La Infanta is part of Emerita’s wholly owned Iberian Belt West project which hosts three Volcanogenic Massive Sulfide (VMS) deposits: La Romanera, El Cura and La Infanta. A NI 43-101 compliant Prefeasibility Study (PFS) is being prepared for the Project. Recent drilling highlights at Infanta are listed below and a complete dataset is included in Table 1. Drill hole IN095 intercepted 7.2m grading 1.0% copper, 4.0% lead, 7.5% zinc, 0.13 g/t gold and 83.32 g/t silver. Drill hole IN093 intercepted 16.9m grading 0.2% copper, 1.5% lead, 1.9% zinc, 0.11 g/t gold and 9.29 g/t silver, including 4.8m grading 0.6% copper, 3.0% lead, 3.8% zinc, 0.12 g/t gold and 21.28 g/t silver. Exploration drill hole INN08 intercepted 2.8m grading 0.3% copper, 0.7% lead, 1.7% zinc, 0.31 g/t gold and 18.9 g/t silver in a deep test of the La Infanta deposit. Table 1 shows drill hole assay data reported in this release. Drill hole traces are shown in map view. Long-section and cross-sectional interpretations are shown. Photos of mineralized core intercepts are shown. The infill drilling reported here covered an area on-section of 150m strike by 75m depth of La Infanta deposit between +90m and +15m elevation. Seven holes were drilled at approximately 50m center spacing. All of the drillholes encountered mineralization. Mid-to-high silver grades were intercepted with 4 of the 7 holes exceeding an ounce-per-tonne including high silver grades (e.g. 364 g/t over 1.5m in hole IN095). La Infanta deposit commonly reports robust silver grades as shown through its Indicated mineral resource estimate grade of 94 g/t Ag and Inferred mineral resource estimate grade of 74 g/t Ag. INN08 was collared north of La Infanta and was designed to: 1. Characterize the entire volcano-sedimentary sequence to provide valuable stratigraphic-structural information on La Infanta deposit area; and 2. test whether La Infanta deposit extends at depth. INN08 entered La Infanta resource area at approximately 560m downhole and cut a broadly mineralized zone of 15.0 m grading 0.1% copper, 0.4% lead, 0.8% zinc, 0.28 g/t gold and 7.26 g/t silver from 573.7m. This zone includes a higher-grade interval of 2.8m grading 0.3% copper, 0.7% lead, 1.7% zinc, 0.31 g/t gold and 18.85 g/t silver. At 380m below surface this intercept represents the deepest yet in the area and is 150m from the nearest drillhole. These results demonstrate that La Infanta mineralization continues past the limits previously defined in the Company’s 2025 Mineral Resource Estimate, indicating that additional resources may yet remain to be delineated. The Company has paused its drilling campaign for the summer season. The Emerita team will evaluate the existing geological model, database and geophysical data with the objective of developing new target areas in the IBW, San Antonio and Nuevo Tintillo projects. With the recently renewed exploration permits for San Antonio and Nuevo Tintillo projects, and with the large amount of technical information collected by the Company at IBW through continued drilling since 2021, Emerita is taking the opportunity to evaluate all of its projects to generate the most prospective drilling targets. These efforts will be supported by ongoing field exploration activities, such as geophysical ground survey, geological mapping, prospecting, sampling and geological compilation throughout the summer. Drilling at IBW is PQ, HQ, or NQ size core is placed into core trays at the drill site and transported directly from the site to Emerita’s coreshack (15Km) from IBW. Once the cores are received at Emerita's coreshack they are photographed, and geotechnical logging is performed. Geological, mineralogical and structural logging follows and mineralized zones are identified. The samples are marked every 1m or less, and respecting lithological contacts, with most of the samples 1.0m long. The zone immediately above and below the mineralized zones are also sampled. Core samples are sawed in half and half of the core is returned to the core tray for future reference. Once the core samples are cut, bagged and tagged, they are shipped to the ALS laboratory in Seville by Emerita personnel where sample preparation is done. In Seville, ALS performs the mechanical preparation of the samples and then the pulps are sent to ALS Ireland (ICP) and ALS Romania (fire assay). The analysis at ALS Lab corresponds to the ME-ICPore (19 elements) package, together with the Au-AA23 fire assay (Gold). ALS is independent of Emerita. 10% of the analyzed samples correspond to control samples (fine blanks, coarse blanks, high, medium and low-grade standards). In addition, 10% of pulps are reanalyzed at a second independent certified laboratory (AGQ Lab Sevilla). When the analysis is completed, the certificates are received from the laboratory and the QA/QC protocol identifies any deviation or anomaly in the results and the entire batch is re-assayed in such case. Once the data is approved by the QA/QC protocol assays are entered digitally directly into the database. Scientific and technical information in this news release has been reviewed and approved by Danniel Oosterman, P.Geo., who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and is Project Director of Emerita. Mr. Oosterman is not independent of the Company.
