EMERITA RESOURCES EMO.V EMOTF UPDATE 70k meters of drilling underway at Romanera Deposit

Due Diligence by Doc Jones, Resource Investor, Hunting for Exceptional returns.

EMO is the third largest mineral title holder in the Iberian Pyrite Belt of Spain, click on the link to see the scale

https://ws050.juntadeandalucia.es/portalandaluzdelamineria/ConsultaRMA (see for yourself, vet the data, open in Chrome and use Translate to English)

After delays all of IBW (Romanera Land Package) is fully permitted. David Gower discusses the 70K meter, 8 drill rig program underway across the IBW land package that is confirming and expanding on 3 high grade deposits (La Infanta, El Cura and Romanera) Neuvo Tintillo and Aznalcollar updates as well.

Romanera Deposit Info

Sampling release: https://ceo.ca/@nasdaq/emerita-provides-results-of-surface-sampling-from-geological

"Going hard after a potential +30 Mt high grade Romanera with 70,000 m program in 2022

• EMO announced an updated drill program for IBW, with a planned 70,000 m of drilling just at Romanera and total 8 rigs on site. Management plans to deploy 6 rigs at Romanera with 2 rigs turning at El Cura and Infanta.
• Romanera big size potential:Romanera has a large historic resource of 34 Mt, incl. 11.2 Mt at 11.9% ZnEq in high grade subset .
  The high-grade intercepts at depth (incl. 20 m at 13.4% ZnEq from 300 – 350 m depth) imply potential to swiftly grow tonnage, with every 100 m vertical extension adding 2.0 – 4.0 Mt. As a result, we believe Romanera offers the best bang for the buck vs other known deposits at IBW.
  Geophysics suggests deposit strike potential of 1,200 m vs historically drilled ~450 m, indicating Romanera could eventually be a very large underground +30Mt deposit at ~12% ZnEq.
• El Cura – Rio Tinto drilled some historic holes that anecdotally hit high grade copper (2-4%) potential for +2Mt of high-grade, copper rich potential at El Cura.
  
• Expected drill program:Romanera: 6 drill rigs expected to be turning with 70,000 m planned by year-end (additional rigs could be added if needed). Focus will be validating the historic resource and testing the down dip and along strike extensions. The areas along strike and at depth will see 50 meter drill spacing on section with 100 meter step outs between sections.
  
• Infanta & El Cura: 2 rigs planned.
  
• Resource update in 2023: The drill program is expected to result in a compliant resource at IBW (in 2023) in addition to metallurgical studies, eventually progressing the project towards production.
• Fully-funded: The 2022 drill program is estimated at ~C$10 MM while the existing cash balance is ~C$25 MM + warrants."

El Cura Deposit Historical

• Very high-grade and copper rich and poly-metalic
• An ore pile next to a historical shaft on property assayed at = $2370/ton USD
• In 1946, the explorer Pinedo Vara found a pile of ore with the following grades 5.7 % Cu, 14.0 % Pb, 24.0 % Zn, 2.0 % Sb, and 580 g/t Ag.”

What company looks like after AZN https://ceo.ca/@Drjimjones/the-math-is-the-math-emerita-resources217-million-ozs-aueg-at-654gt

Podcast for entertainment purposes only, not investment advice.