Emerita Resources (TSXV: EMO) this morning revealed it is accelerating its drill program at the Iberia Belt West project. The company has contracted three additional drill rigs to be mobilized to site, which are expected to arrive within two weeks to site.
The acceleration is said to coincide with the end of hunting season in Spain on November 15. After this date, the company the company expects to resume its geophysical survey operations while also resuming step out drilling operations. Drilling will begin at Infanta, before two units move to the Romanera targets once permits are approved.
The company also reported the results of three step out drills conducted to the north, which encountered shallower mineralization than expected. Drilling intersected two sections of intercepts within the hole, the first referred to as the North Block, while the second intercept is coming from the South Block at depth. The North Block mineralization now has a strike of at least 300 metres.
Highlights from the results released include:
- IN017: 11.3 metres of 0.5% copper, 2.5% lead, 4.9% zinc, 0.29 g/t gold and 53.9 g/t silver; 2.1 metres of 1.3% copper, 7.9% lead, 14.6% zinc, 0.59 g/t gold, 171.5 g/t silver
- IN021: 7.2 metres of 0.5% copper, 1.9% lead, 4.0% zinc, 0.10 g/t gold and 21.9 g/t silver; 5.5 metres of 0.8% copper, 2.8% lead, 5.7% zinc, 0.28 g/t gold and 62.5 g/t silver
- IN023: 5.1 metres of 1.4% copper, 4.4% lead, 8.6% zinc, 0.52 g/t gold and 124.1 g/t silver
“We are excited to be ramping up the Project with the addition of more diamond drills. We continue to work closely with government officials on the Romanera and El Cura drill permits and this is progressing, following the normal process for receiving the drill permits in areas with the land use designation in that area,” said President Joaquin Merino on the development.
Emerita Resources last traded at $3.20 on the TSX Venture.
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