The latest assays are highlighted by drill hole IN018, which intersected 8.2 metres grading 2.5% copper, 8.7% lead, 17.3% zinc, 223.5 g/t silver and 0.5 g/t gold from 59.4 metres. This is a 40-metre step out to the west of the historical limits of the deposit.
Hole IN023, located approximately 50 metres west of hole IN018, has intersected two zones of massive sulfide, with assays pending, the company said. The only other hole where the deeper second zone is intersected is in hole IN017, which is 300 metres east, and this area is open for extension of the mineralization to depth.
According to Emerita, there is a strong TEM conductor extending at least 300 metres to the west from hole IN018 (to the edge of the current survey coverage), as well as some shallow historical workings that provide strong evidence the deposit will extend in that direction.
Drill Holes IN014 – 016 were the final infill drill holes and all intersected high-grade mineralization, with the highlight being hole IN014, intersecting 5.7 metres grading 2.4% % copper, 7.3% lead, 13.4% zinc, 225.0 g/t silver and 0.6 g/t gold 84.7 metres.
The geophysical survey at La Infanta is expected to resume by the end of October, when hunting season in the region concludes.
The company plans to mobilize additional drills to expedite the drilling of the Romanera deposit and other regional targets including El Cura and the new geophysical targets. It is expected five drills will be operating by year-end.
“We are excited by the progress to date and particularly to be moving the program into the expansion drilling phase. Based on the latest drilling we have identified what appears to be a structural repetition of the zone at depth to the north, seen in holes IN017 and IN023, which are 300 metres apart,” Emerita president Joaquin Merino said in a news release, adding that he deposit is interpreted to continue to depth in the north zone.
Shares of Emerita Resources jumped 10.1% by 12:20 p.m. in Toronto following the latest results. The Spain-focused miner has a market capitalization of C$530.8 million ($429.2m).