TORONTO, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX – V: EMO; OTC: EMOTF) (the “Company” or “Emerita”) announces that the Andalucian Environment Department in Huelva Province has issued its resolution and published it in the official gazette approving the Company’s diamond drill plan for the west side of the Iberia Belt West (“IBW” or the “IBW Project”) project on January 7, 2022 such that the entire Project is now permitted for drilling. This portion of the IBW Project hosts the large Romanera deposit and the El Cura deposit and as such this is an important step for the ongoing evaluation of the IBW Project. The publication in the gazette marks the commencement of a 30 business day period during which the reclamation plan for the drill sites are published on the government web site and available for comment. The application process in Spain requires a comprehensive exploration plan as well as a reclamation plan for the drill pads and the reclamation plan is published on the government web site for public viewing for a period of 30 days prior to issuing the permits. Permitting the west side of the project required a more involved process than the Infanta area where the Company has been drilling. The Company completed all studies required by the process including archaeological, flora and fauna studies and has written support from the two municipalities, Pueblo de Guzman and Paymogo, that encompass the project included in the filing documents. Once issued, the permits are valid for the duration of the license.
The Company already has agreements arranged with local landowners for access to the drill sites in order that work can commence immediately upon receiving the permits. Emerita presently has a contract for five drills on the IBW Project and will add three more drills bringing the total to eight, to coincide with the issuing of this permit in order to complete the drilling required for a NI 43-101 compliant mineral resource estimate as quickly as practical.
According to David Gower, P.Geo., CEO of Emerita, “This is a very exciting development for the Company. It provides access to two additional deposits for diamond drilling and given there are already 50 drill holes in Romanera, the geological model for the deposit is well understood. Our team along with our environmental consultants and government officials have worked diligently and carefully to produce an excellent environmental plan for the responsible exploration of the area. We greatly appreciate the support of the municipalities and are already setting up facilities in Paymogo and Pueblo de Guzman to support the program.”
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:
+34 (628) 1754 66 (Spain)
+1 416 566 8179 (Toronto)
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 legal processes in Spain, the timing of permits for the IBW Project, the exploration of the IBW Project, the prospectivity of the IBW Project, the Company’s access to drill rigs, the timing of a NI 43-101 compliant mineral resource estimate 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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