Emerita Files NI 43-101 Technical Report for the IBW Project, Marking a 35% Increase in Total Indicated Resources and a 44% Increase in Total Inferred Resources
TORONTO, April 30, 2025 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA) (the “Company” or “Emerita”) reports that it has filed the independent NI 43-101 compliant technical report for its Iberian Belt West Project (“IBW” or the “Project”) in Andalusia, Spain, supporting the updated Mineral Resource Estimate (“MRE”) for the Project announced on March 17, 2025.
The technical report, titled “NI 43-101 Technical Report on the Iberian Belt West Project, Spain” was prepared by Wardell Armstrong International Limited (“WAI”), a part of SLR Consulting, in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) and has an effective date of February 26, 2025.
The MRE is based on 105,554 meters of drilling by the Company comprising 299 drill holes and is hosted in three volcanogenic massive sulphide deposits on the project; La Romanera (LR), La Infanta (LI), and the more recently delineated El Cura (EC) deposit (LR=169 holes totaling 70,344m; LI=91 holes totaling 20,975m; EC=39 holes totaling 14,235m). All three deposits remain open for further expansion by future drilling. The IBW project is reporting:
- A Total Indicated MRE of 18.96Mt grading 2.88% zinc, 1.42% lead, 0.5% copper, 66 g/t silver, and 1.28 g/t gold (8.44% ZnEq or 3.01% CuEq);
- A Total Inferred MRE of 6.80Mt grading 3.25% zinc 1.50% lead, 0.73% copper, 56.3 g/t silver, and 0.77 g/t gold (8.72% ZnEq or 3.00% CuEq);
- La Romanera deposit contains an Indicated MRE of 17.34Mt grading 2.64% zinc, 1.25% lead, 0.43% copper, 65 g/t silver, and 1.34 g/t gold , with an Inferred MRE of 4.13Mt grading 3.08% zinc 1.27 g/t lead, 0.61% copper, 49.7 g/t silver, and 0.82 g/t gold;
- La Infanta deposit contains an Indicated MRE of 1.09Mt grading 7.38% zinc, 4.39% lead, 1.08% copper, 94.6 g/t silver, and 0.35 g/t gold with an Inferred MRE of 1.91Mt grading 4.08% zinc, 2.23% lead, 0.66% copper, 74 g/t silver, and 0.38 g/t gold; and
- El Cura deposit contains an Indicated MRE of 0.53Mt grading 1.58% zinc, 0.69% lead, 1.45% copper, 42.9 g/t silver, and 1.41 g/t gold with an Inferred MRE of 0.76Mt grading 2.08% zinc, 0.91% lead, 1.51% copper, 48 g/t silver, and 1.46 g/t gold.
The technical report is available on SEDAR+ (www.sedarplus.ca) under Emerita’s issuer profile and on the Company’s website at www.emeritaresources.com.
Qualified Persons
Frank Browning, MSci, MSc, PGCert, FGS, CGeol, M.Sc., of WAI is a Qualified Person as defined by NI 43-101 and has reviewed and approved the technical information and data regarding the MRE included in this news release. Mr. Browning is independent of Emerita. All other scientific and technical information in this news release has been reviewed and approved by Joaquin Merino, P.Geo, President and director of Emerita, a Qualified Person.
About Emerita Resources Corp.
Emerita is a natural resource company engaged in the acquisition, exploration, and development of mineral properties in Europe, with a primary focus on exploring in Spain. The Company’s corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.
For further information, contact:
Ian Parkinson
+1 647 910-2500 (Toronto)
info@emeritaresources.com
www.emeritaresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the prospectivity of the IBW project, the mineralization and the IBW project, the economic viability of the IBW project, the metallurgy of the IBW project, the assumptions in the MRE, the Company’s future exploration plans and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Emerita, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Emerita has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Emerita does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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