FULL DISCLOSURE: Emerita Resources is a sponsor of theDeepDive.ca.
Emerita Resources (TSXV: EMO) is headed to the prefeasibility study stage. The company this morning announced the awarding of a contract for the completion of the study, which is to be conducted on their flagship Iberian Belt West project.
The contract was awarded to SLR Consulting, who acquired Wardell Armstrong in 2024. Wardell Armstrong has been the Qualified Person utilized by Emerita at IBW historically, with the firm being utilized for the mineral resource estimates conducted to date at the property. The company has also been extensively involved in metallurgical testing at the project.
The awarding of the contract follows a rigorous process, which saw Emerita narrow down an initial list of 23 prospective firms to a five-firm shortlist, from which detailed proposals were provided. SLR Consulting was selected after this process, with the firm said to have the best fit in terms of timing and expertise familiarity with both the IBW project and other projects in the region.
READ: Emerita Resources Hits 2.7% Copper, 1.85 g/t Gold Over 9.6 Metres At El Cura
The study, which will mark the first independent third party evaluation of the project, will include a number of factors, including mine to mill design, process plant and flowsheet design, surface infrastructure design, capital and operating cost considerations and a financial analysis. The study is currently expected to be completed within six months.
“Our team is excited to launch this phase of the IBW project development. We have continued to grow the mineral resources at IBW’s El Cura deposit throughout this year and have completed the requisite infill drilling to convert Inferred Resources to Indicated and Measured categories that permit them to contribute to a PFS level study,” commented David Gower, CEO of Emerita Resources.
Emerita Resources last traded at $1.31 on the TSX Venture.
FULL DISCLOSURE: Emerita Resources Corp. is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Emerita Resources Corp. The author has been compensated to cover Emerita Resources Corp. on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
