Emerita Resources Files NI 43-101 Technical Report on the IBW Project
2023年7月6日 - 8:10PM
Emerita Resources Corp. (“
Emerita” or the
“
Company”) (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA)
announces that the Company has filed the National Instrument 43-101
(“NI 43-101”) technical report (the “Technical Report”) covering
the NI 43-101 mineral resource estimate at the La Romanera and La
Infanta deposits at the Company’s wholly-owned Iberian Belt West
project (“IBW” or the “Project”).
The Technical Report was prepared by Wardell
Armstrong International Limited (“WAI”). The Qualified Persons
responsible for preparing the MRE, on which the Technical Report
was based, are Dr. Phil Newall, BSc (ARSM), PhD (ACSM), CEng,
FIMMM, QMR and Frank Browning, MSci, MSc, MCSM, PGCert, FGS,
CGeol.
The Technical Report titled “NI 43-101 Technical
Report on the La Romanera and La Infanta Polymetallic Deposits,
Spain” dated July 5, 2023, has been filed on the
SEDAR website at www.sedar.com and on the Company website
at www.emeritaresources.com. Please refer to news release
dated May 23, 2023 for details of the mineral resource
estimate.
Resource Highlights:
-
Iberia Belt West Initial Mineral Resource Estimate
(“MRE”)
-
Indicated 14.07 million tonnes (“Mt”) grading
3.29% Zn, 1.66% Pb, 0.46% Cu, 75.2 g/t Ag and 1.39 g/t Au (7.63%
ZnEq)
-
Inferred 4.71 Mt grading 4.70% Zn, 2.14 % Pb,
0.54% Cu, 72.4 g/t Ag and 0.90 g/t Au (9.29% ZnEq)
-
La Romanera
-
Indicated 13 Mt grading 2.98% Zn, 1.45% Pb, 0.42%
Cu, 74.1 g/t Ag and 1.48 g/t Au (7.08% ZnEq)
-
Inferred 3.14 Mt grading 4.85% Zn, 1.96 % Pb,
0.45% Cu, 71.3 g/t Ag and 1.16 g/t Au (9.16% ZnEq)
-
The La Romanera mineral resource estimate was calculated using data
from 144 holes comprising 52,750 meters of drilling.
-
La Infanta
-
Indicated 1.07 Mt grading 7.10% Zn, 4.24% Pb,
1.03% Cu 88.5 g/t Ag and 0.32 g/t Au (14.32% ZnEq)
-
Inferred 1.56 Mt grading 4.41% Zn, 2.49% Pb, 0.74%
Cu, 74.7 g/t Ag and 0.38 g/t Au (9.55% ZnEq)
-
The La Infanta mineral resource estimate was calculated using data
from 86 holes comprising 19,565 m of drilling.
-
In calculating the MRE, WAI used a cut off grade of 3% Zinc
equivalent (“ZnEq”). See notes below or refer to the technical
report for details on the ZnEq calculation.
-
Mineralization remains open at both deposits
-
The MRE confirms the resource starts at or near surface and remains
open for expansion at depth and along strike.
Table 1: Resource Table
The following table summarizes the maiden
Mineral Resource Estimate for the Iberian Belt West (IBW)
Project:
|
|
|
Average Grade |
Metal Content |
Deposit |
Class |
Tonnes |
Zn |
Pb |
Cu |
Ag |
Au |
ZnEq |
Zn |
Pb |
Cu |
Ag |
Au |
ZnEq |
|
|
Mt |
% |
% |
% |
g/t |
g/t |
% |
kt |
kt |
kt |
koz |
koz |
kt |
La Romanera |
Indicated |
13.00 |
2.98 |
1.45 |
0.42 |
74.1 |
1.48 |
7.08 |
387 |
188 |
54 |
30,979 |
617 |
920 |
Inferred |
3.14 |
4.85 |
1.96 |
0.45 |
71.3 |
1.16 |
9.16 |
153 |
62 |
14 |
7,205 |
117 |
288 |
La Infanta |
Indicated |
1.07 |
7.10 |
4.24 |
1.03 |
88.5 |
0.32 |
14.32 |
76 |
45 |
11 |
3,051 |
11 |
154 |
Inferred |
1.56 |
4.41 |
2.49 |
0.74 |
74.7 |
0.38 |
9.55 |
69 |
39 |
12 |
3,758 |
19 |
149 |
IBW Project |
Indicated |
14.07 |
3.29 |
1.66 |
0.46 |
75.2 |
1.39 |
7.63 |
463 |
233 |
65 |
34,030 |
629 |
1,074 |
Inferred |
4.71 |
4.70 |
2.14 |
0.54 |
72.4 |
0.90 |
9.29 |
222 |
101 |
26 |
10,963 |
137 |
438 |
Notes:
-
Mineral Resources are classified according to definitions outlined
in CIM Standards on Mineral Resources and Reserves, Definitions and
Guidelines (CIM, 2014);
-
The effective date of the Mineral Resource Estimate for La Romanera
is May 4, 2023 and the effective date of the Mineral Resource
Estimate for La Infanta is April 30, 2023;
-
Mineral Resources are reported at a cut-off grade of 3.0% zinc
equivalent (ZnEq) where;
-
ZnEq = [(Zn grade * Zn recovery * Zn price) + (Pb grade * Pb
recovery * Pb price) + (Cu grade * Cu recovery * Cu price) + (Ag
grade * Ag recovery * Ag price) + (Au grade * Au recovery * Au
price)] / (Zn recovery * Zn price);
-
Long term price assumptions are US$3000/t Zn, US$2300/t Pb,
US$9500/t Cu, US$25/oz Ag and US$1800/oz Au;
-
Metallurgical recovery assumptions are 100% Zn, 80% Pb, 80% Cu, 80%
Ag and 20% Au. 100% Zn recovery ensures ZnEq grade > Zn grade
for all blocks;
-
At La Infanta, blocks less than 3.0% ZnEq when diluted over a 3m
minimum mining width were excluded from the Mineral Resource.
Thickness at La Romanera typically exceeds 3m;
-
Only primary sulphide mineralisation is included in the Mineral
Resources;
-
Metal grade and content represents contained metal in the ground
and have not been adjusted for metallurgical recovery or mining
dilution;
-
Mineral Resources are not Reserves until they have demonstrated
economic viability based on a pre-feasibility study or feasibility
study;
-
Numbers may not add due to rounding.
-
The Qualified Person for the La Romanera and La Infanta Mineral
Resource Estimates is Dr. Phil Newall, BSc (ARSM), PhD (ACSM),
CEng, FIMMM of WAI, a Qualified Person as defined by NI
43-101.
Qualified Person
Each of Dr. Phil Newall, BSc (ARSM), PhD (ACSM),
CEng, FIMMM and Frank Browning, MSci, MSc, MCSM, PGCert, FGS, CGeol
is a Qualified Person as defined by NI 43-101 and each of Dr.
Newall and Mr. Browning have reviewed and approved the technical
information and data regarding the MRE included in this news
release. Dr. Newall is independent of Emerita. All other scientific
and technical information in this news release has been reviewed
and approved by Mr. Joaquin Merino, P.Geo., President of the
Company and a Qualified Person as defined by NI 43-101.
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.comwww.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 MRE, the Technical Report, the
prospectivity of the IBW project, the mineralization and the IBW
project, the economic viability of the IBW project, 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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
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