Emerita Resources (TSXV: EMO) has received further approvals for its Iberia Belt West project located in Spain. The approvals will enable the company to conduct further drilling on the property as it looks to expand its understanding of mineralization on site.
The approval comes from the Andalucian Environment Department within the Huelva Province, with the approval being published in the official gazette. Final approvals are subject to a 30 day public comment period. The approval from the Department enables the company to drill test the entire project, once the consultation period is completed, with the firm now eligible to drill the western portion of the property as well, which hosts the El Cura and Romanera deposits.
Once permits are received in hand, the company will be able to begin work immediately, with arrangements with local landowners already in place. Five drills are currently contracted for the IBW project as a whole, with three additional drills slated to be added to the mix once the permits are in hand.
The firm is looking to complete a compliant resource estimate for the project “as quickly as practical.”
“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. [..] We greatly appreciate the support of the municipalities and are already setting up facilities in Paymogo and Pueblo de Guzman to support the program,” commented CEO David Gower on the development.
Emerita Resources last traded at $3.40 on the TSX Venture.
FULL DISCLOSURE: Emerita Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Emerita Resources 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.
The Grocery Grift: Why Toronto and New York Are About to Light Taxpayer Money on Fire