Developing High Grade
Polymetallic Deposits in
Spain
•
Iberian Belt West
Aznalcóllar*
*Pending
+18,000 combined hectares in the heart of the Iberian Pyrite Belt, one of the most productive VMS terranes in the world. Our flagship project - Iberian Belt West - claims 1,546 hectares (with an extension of 10,135 in progress) and Nuevo Tintillo claiming 6,874 hectares
IBW only 63KM from the Neves-Corvo (Lundin), 40KM from Aguas Teñidas (MATSA/Sandfire), 59KM from the world- famous Rio Tinto Mine (Atalaya), and 105KM from the Minas Las Cruces Mine (First Quantum). IBW is also only 74KM from Nuevo Tintillo
Completion of a 70,000 meter drill program (184+ diamond drill holes) focused on La Romanera and La Infanta at IBW with the expected release of a NI 43-101 resource estimate (~20Mt @ High Grade Resource Potential; +10 year mine life) by H1 2023
Aznalcóllar* - contained 73Mt of historic reserves at the Los Frailes deposit, the original Aznalcóllar mine contained 91Mt, and 1 other known mineralized zone yet to be drilled (~10-20Mt). Court settlement will begin
in March 2025 | *Pending |
INVESTMENT HIGHLIGHTS | • Largest mining exploration project in the EU | |||||||||
• Proximity to many current producers | • 70,000 meter drilling campaign; paved highway access | |||||||||
• IBW 100% owned, no royalties and streams | • La Romanera drilled by Rio Tinto (34Mt; 12Mt high grade) | |||||||||
• 15 drills turning; 14 at La Romanera, 1 at La Infanta | • AEM done on Tintillo; expected drilling starting Q2 2023 | |||||||||
• Iberian Pyrite Belt contains 90+ massive sulphide deposits | • PFS expected by year-end 2023 / early Q1 2024 | |||||||||
Aguas Teñidas | ||||||||||
Neves-Corvo | Rio Tinto | |||||||||
(63KM from IBW) | ||||||||||
Portugal | Nuevo Tintillo | |||||||||
Iberian Belt West | ||||||||||
Las Cruces | ||||||||||
Aznalcóllar | ||||||||||
(Pending) | ||||||||||
CORP. STRUCTURE & COVERAGE | ||||||||||
C$178.30M | 207.32M | ~C$23.63M | ~12% | Analyst: Varun Arora, MBA | ||||||
Market | Common Shares | Cash & Cash | Insider | Target Price: C$4.00/share | ||||||
Equivalents | ||||||||||
Capitalization | Outstanding | Ownership | ||||||||
(Q3 2022) | (F/D) | NPV5% (IBW): C$758M |
NPV5%( Aznalcóllar; 50%): C$526M | |
T: +1 (647)-910-2500 | www.emeritaresources.com |
info@emeritaresources.com | |
MILESTONES ACHIEVED IN 2022
70,000 METERS DIAMOND DRILL PROGRAM | STRENGTHENING MANAGEMENT TEAM |
- 184 diamond drill holes on IBW done as of the end of 2022 - 78 drill holes at Infanta and 106 at La Romanera deposit
- Current drilling pace will continue until February 15 which will add ~50 additional intercepts which will lock in initial NI 43-101 mineral resource estimate for both deposits
- Mr. Ian Parkinson joined as Executive VP, Corporate Development & Capital Markets
- Mr. Parkinson brings both operational mining and capital markets experience including 16 years at several leading Bay Street brokerage firms including Stifel GMP, CIBC World Markets, Falconbridge, and Noranda
PERMITTING & EXPANDED FOOTPRINT
- Objective is to convert existing Exploration License to an Exploitation License, with a completed environmental baseline expected to be completed in April 2023
- La Romanera drilled footprint has been increased by ~650 meters along strike and ~450 meters depth
- Mineralization at Infanta has been traced to 2KM strike and 400 meters depth. Both deposits remain open along strike and depth
NUEVO TINTILLO & AZNALCÓLLAR
- Nuevo Tintillo: Airborne Electromagnetic Survey completed over property and many high priority conductors identified with follow-up detailed gravity surveys done to prioritize drilling targets for 2023
- Aznalcóllar: Administrative Superior Court of Andalusia determined that judgement will be withheld until the Criminal trial has concluded
- 5 superior court judges of the Criminal Courts have concluded strong indications of crime committed regarding the awarding of the Public Tender
FUTURE CATALYSTS
IBW maiden resource estimate 43-101 (H1 2023) and initial metallurgy testing results to be completed (H2/23)
Commencement
of initial Nuevo Tintillo drilling by Q2/23 as well as a new alteration
zone identified between El Cura & La Infanta (H2/23)
Submission for exploitation permit in Q2/23 (with approval estimated in 2024; ~12 months). PFS expected by YE 2023 / Early Q1 2024
Favorable resolution of the legal case for Aznalcóllar expected March 2025. EMO well financed to complete the planned programs
T: +1 (647)-910-2500 | www.emeritaresources.com |
info@emeritaresources.com | |
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Emerita Resources Corp. published this content on 24 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 00:19:11 UTC.