Mining Co. Reports More Positive Drill Results in Spain
Source: Adam Schatzker
August 25, 2022 (Investorideas.com Newswire) New data thus far from drilling the deposit suggest the future resource grade will exceed the historical one, noted a Research Capital Corp. report.
Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCMKTS; LLJ:FSE) released "more promising drill results at Romanera," the deposit of focus at its Iberia Belt West project in Spain, reported Research Capital Corp. analyst Adam Schatzker in an August 22, 2022 research note.
"The drill results to date have been very encouraging," Schatzker wrote. "We think that unless the deposit changes significantly with future drilling, the future resource will be better than the historic one (at least for grade)."
Reported results are of three holes drilled in the Romanera deposit, LR008, and LR010 in the central part, and LR011 in the western portion, Schatzker relayed. All three holes cut the upper and lower lenses.
LR008 and LR011 both exhibited grades that are higher than the historical resource grade: 6% zinc equivalent (Zn eq).
LR008, the best hole, Schatzker noted, returned zinc equivalent grades of 29.5%, 14.5%, 14.4% and 7.6%. As for LR011, it returned some narrow intervals with grades of 25.6% and 17.4% Zn eq.
The grades of the third hole, LR010, were near or greater than the historical resource grade but were lower than LR008's grades.
Schatzker attributes the newly discovered higher grades to the precious metals that are present. In the new results, the weighted average gold grade is 2.05 grams per ton (2.05 g/t), and for silver, it is 103 g/t. These grades are two and a half times those of the precious metals contained in the historical resource.
As for widths, holes LR008 and LR011 returned wide intervals, for example, 19.4 meters (19.4m) and 18.8m in LR008 and 13.8m and 11.4m in LR011.
Research Capital has a Speculative Buy rating and a CA$4 per share target price on Emerita, the current share price of which is around CA$0.98.
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Disclosures For Research Capital Corp., Emerita Resources Corp., August 22, 2022
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Adam Schatzker has visited Emerita Resources Corp. in the past 18 months.
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