Emerita Resources (TSXV: EMO) this morning announced that it has seen the local government approve its proposed work program for the Iberia Belt West project in Spain, subject to final environmental approvals. The latest approvals are focused on the El Cura and La Romanera targets.
The company is now waiting on environmental approvals following the filing of documentation for the western portion of the IBW project, with the expanded program to be focused on these two targets. Approval for this portion of the program is expected in the coming weeks.
Current drilling on the property is focused on La Infanta, where the company will test mineralization along 1.2 kilometres of strike to a depth of 300 metres down dip. Drilling will see step-outs conducted from historical drill holes, as the company works to establish a mineral resource estimate on the deposit. An initial 30 drill holes are slated to be completed over 5,000 metres in aggregate.
“The approval of the Department of Mines for the entire property is a very important step and we expect it will allow us to stay on track to expand the drill program to the other targets in the coming weeks. The Department of Mines has been very helpful in getting the Project permitted for the drilling stage and we will continue to work closely with them.”
Joaquin Merino, President of Emerita
Furthermore, the company is now looking to add a second drill to the program while also beginning geophysical programs following cash inflows from warrant exercises. The company will look to conduct magnetic, gravity, and electromagnetic surveys over the entire IBW project to evaluate additional mineralization on the property.
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The first assays from current drilling are expected to be received in approximately one months time.
Finally, the company has expanded its land position within the Iberia West Belt, following a public tender. The company has acquired the Nuevo Tintillo property via a public tender. Located approximately 10 kilometres from the Aznalcollar property, the property is prospective for base metals and covers a total area of 8,960 hectares. Documentation has been submitted for exploration on the property.
Emerita Resources last traded at $0.87 on the TSX Venture.
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