Emerita Resources (TSXV: EMO) this morning reported its first results from the ongoing drill program at the firms La Infanta deposit at the Iberia West project. Highlights from the program include 7.45 metres of 1.67% copper, 6.01% lead, 11.49% zinc, 90.1 g/t silver and 0.49 g/t gold.
A total of two drill hole assays were released this morning, with additional results expected in the coming week. A further six holes are currently being assayed, with the company expecting a “steady flow” of results to begin in the near term, with the company indicating that “all drill holes to date have well mineralized intervals.”
The 5,000 metre drill program has also seen a second drill rig now added to the program as a means of increasing the speed at which the company receives results.
Results from the first two assays of the drill program include:
- Hole IN004: 7.45 metres of 1.67% copper, 6.01% lead, 11.49% zinc, 90.1 g/t silver and 0.49 g/t gold
- Including 2.65 metres of 3.76% copper, 15.29% lead, 28.81% zinc, 206.4 g/t silver and 1.08 g/t gold
- Hole IN001: 4.0 metres of 0.07% copper, 1.68% lead, 3.40% zinc, and 11.50m g/t silver
- Hole IN001: 2.8 metres of 0.02% copper, 3.79% leaad, 7.50% zinc and 12.95 g/t silver
The company also highlighted that it believes hole IN001 was subjected to leaching of mineralization related to surface weathering, resulting in uncharacteristically low silver values.
“This is just the beginning of this project. The team is excited by what we are seeing in the core shack. The ongoing EM survey (see News release dated July 20, 2021) is providing excellent information that will be valuable in targeting drill holes and data suggests the deposits continue at depth well beyond present drilling. The Company will add a third drill rig once we commence drilling on the Romanera and/or El Cura deposits.”David Gower, CEO of Emerita Resources
Emerita Resources last traded at $2.08 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. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.