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EMO Emerita Resources Corp

0.60
-0.01 (-1.64%)
10 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Emerita Resources Corp TSXV:EMO TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.01 -1.64% 0.60 0.59 0.60 0.61 0.59 0.61 163,363 21:24:57

Emerita Resources Increases the Las Morras Project Land Holding Six-Fold, Extremadura Region, Spain

19/02/2014 12:00pm

Marketwired Canada


Emerita Resources Corp. (TSX VENTURE:EMO) (the "Company" or "Emerita") has
received notice from the Extremadura Regional authorities that tenements it had
applied for in the Las Morras Project area in the Extremadura Region have been
granted and final publication in the regional and national gazette is expected
in the next few weeks. Once notice appears in the gazette the Company will have
three years in which to work the claims, prior to applying for renewal. 


The Company was originally attracted to the area on reports of significant,
discrete accumulations of gold nuggets being found by local prospectors in
recent years (To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/928256fig1.pdf). 


Emerita has been exploring in the area since early 2013 and during the past year
has undertaken a number of field exploration programs (see press releases dated
February 7, 2013, April 8, 2013, August 29, 2013, and December 19, 2013). During
the 2013 program the Company's geologists demonstrated that gold anomalies
extended beyond the limits of the existing claim boundary and became aware of
other locations in the area where numerous gold nuggets have been identified. As
a result, the Company submitted applications for the additional blocks totalling
38,030 hectares. This contiguous block of Exploration Licenses (Permiso de
Investigacion P.I) represents a six fold increase in the land holding for
Emerita from 6,816 hectares to 44,846 hectares (Table 1).


The underlying geology of the Las Morras project comprises Pre-Cambrian
metasedimentary rocks that are structurally juxtaposed against younger
Palaeozoic metasedimentary rocks. Gold anomalies appear to be associated with
shear zones within the Precambrian rocks and Company geologists are exploring
the Las Morras area for primary gold deposits similar to those that exist
elsewhere in Spain within similar geological and structural settings.


Emerita's President and CEO, Joaquin Merino (P.Geo.), commenting on the
approvals said, "The increased land position at Las Morras reflects the outcome
of initial field programs that have demonstrated that the gold anomalies are
much more extensive than originally understood. The area is unexplored in the
context of modern, systematic exploration and we are very encouraged by the
results to date. There are several newly identified areas within the land
package that host an abundance of nuggets and fine gold in soil that will be
followed up with systematic geochemical surveys. Drill permits are being applied
for on the original claims."




----------------------------------------------------------------------------
Tenement Name                       Area (Hectares)                         
----------------------------------------------------------------------------
Las Morras                                    6,816       Granted 17/04/2012
----------------------------------------------------------------------------
Las Matillas                                  8,464               New Permit
----------------------------------------------------------------------------
La Manchuela                                  8,036               New Permit
----------------------------------------------------------------------------
El Alandre                                    8,719               New Permit
----------------------------------------------------------------------------
Matajarda                                     8,748               New Permit
----------------------------------------------------------------------------
Garbayuela                                    4,063               New Permit
----------------------------------------------------------------------------
TOTAL                                        44,846                         
----------------------------------------------------------------------------
Table 1 Las Morras Tenement Summary                                         



Qualified Person

The scientific and technical information in this release has been reviewed and
approved by Mr. Joaquin Merino, P.Geo, President and CEO of the Company and a
Qualified Person as defined by National Instrument 43-101 of the Canadian
Securities Administrators. Field work at the Las Morras Property is being
conducted under the direct supervision of Mr. Merino.


About Emerita Resources Corp.

Emerita is a natural resource company engaged in the acquisition, exploration
and development of mineral properties in Spain, with a primary focus on
exploring the Las Morras Property in the Extremadura Region of Spain.


Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, without limitation, statements regarding exploration prospects and
proposed work programs and plans. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward- looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Emerita, as the case may be, to be
materially different from those expressed or implied by such forward-looking
information, including but not limited to: general business, economic,
competitive, geopolitical and social uncertainties; the actual results of
current exploration activities; risks associated with operation in foreign
jurisdictions; ability to successfully integrate the purchased properties;
foreign operations risks; and other risks inherent in the mining industry.
Although Emerita has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. Emerita
does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.


NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM
IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Emerita Resources Corp.
Marilia Bento
+ 1 416 309 2139 (Toronto)


Emerita Resources Corp.
Joaquin Merino
+34 (628) 1754 66 (Spain)
info@emeritaresources.com
www.emeritaresources.com

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