Emerita Resources (TSXV: EMO) has filed a technical report for its recently updated mineral resource estimate at the Iberian Belt West project in Spain. The report saw indicated resources increase by 35%, while inferred resources improved by 44%.
The estimate conducted at the IBW project is based on a total of 105,554 metres of drilling that was conducted across a total of 299 drill holes within three VMS deposits on the property. Resources are spread across the La Romanera, La Infanta, and El Cura deposits on the property.
Highlights from the estimate include:
- La Romanera:
- Indicated: 17.34 million tonnes at 2.86% copper equivalent, containing 458,000 tonnes zinc, 217,000 tonnes lead, 75,000 copper, 36.2 million ounces silver and 747,000 ounces of gold
- Inferred: 4.13 million tonnes at 2.79% copper equivalent, containing 127,000 tonnes zinc, 52,000 tonnes lead, 25,000 tonnes copper, 6.6 million ounces silver and 109,000 ounces of gold
- La Infanta:
- Indicated: 1.09 million tonnes at 5.42% copper equivalent, containing 80,000 tonnes zinc, 48,000 tonnes lead, 12,000 tonnes copper, 3.3 million ounces silver and 12,000 ounces of gold
- Inferred: 1.91 million tonnes at 3.34% copper equivalent, containing 78,000 tonnes zinc, 42,000 tonnes lead, 13,000 tonnes copper, 4.5 million ounces of silver and 23,000 ounces of gold
- El Cura:
- Indicated: 0.53 million tonnes at 3.00% copper equivalent, containing 8,000 tonnes zinc, 4,000 tonnes lead, 8,000 tonnes copper, 735,000 ounces silver and 24,000 ounces of gold
- Inferred: 0.76 million tonnes at 3.28% copper equivalent, containing 16,000 tonnes zinc, 7,000 tonnes lead, 12,000 tonnes copper, 1.2 million ounces silver and 36,000 ounces of gold
On a combined basis, the IBW project has a resource estimate of the following:
- Indicated: 18.96 million tonnes at 3.01% copper equivalent, containing 547,000 tonnes zinc, 269,000 tonnes lead, 94,000 tonnes copper, 40.3 million ounces of silver and 783,000 ounces of gold
- Inferred: 6.80 million tonnes at 3.00% copper equivalent, containing 221,000 tonnes zinc, 102,000 tonnes lead, 49,000 tonnes copper, 12.3 million ounces of silver and 168,000 ounces of gold
All three deposits contained within the resource estimate are said to remain open for further expansion following future drilling. Drilling is currently ongoing at the IBW project, with four drills currently turning at El Cura.
“Not only has the Company successfully increased the total resource tonnage since the 2023 MRE, but we’ve added an entirely new deposit to the Project’s inventory of resources with El Cura, which is rich in both copper and gold. We are continuing to drill the El Cura deposit as it remains ‘open’ in all directions. Meanwhile, Emerita is still advancing the Project on several levels, including additional drilling, exploring the recently granted Ontario property, and advancing our exploitation and environmental permits for the IBW Project,” commented Emerita Resources President, Joaquin Merino, at the time of the resource being announced.
Emerita Resources last traded at $1.21 on the TSX Venture.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
