Emerita Resources Corp. announced additional assay results from the 2022 exploration drilling at its Iberian Belt West (IBW) project. IBW hosts three previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura.

All deposits are open for expansion along strike and at depth. The drill program to date has been focused on the Romanera and La Infanta deposits. Drilling continues at both sites with one drill continuing at La Infanta and the remaining rigs at Romanera.

Since obtaining drill permits for Romanera, the IBW program focus has shifted to delineating the Romanera deposit, which is the largest deposit on the Project. At present, drilling is hampered by the high temperatures being experienced in southern Spain. Due to the high fire index rating and to protect the health and welfare of the drillers with daytime temperatures in the plus forty-degree Celsius range, no drilling is permitted between 2:00-8:00 PM.

Drilling continues at night and earlier in the day before temperatures get too high. La Romanera: Assays have been received for two drill holes at La Romanera. Drill Hole LR005: Drill hole LR005 intercepted mineralization approximately halfway between Holes LR002 and LR003, along section 6500E.

The Upper Lens occurs from 117.7m with 7.0m grading 0.2% copper, 3.9% lead, 4.4% zinc, 2.44 g/t gold, 143.1 g/t silver. The Lower Lens was intercepted 43.8m below the Upper Lens and encountered 16.9m grading 0.4% copper, 1.0% lead, 2.2% zinc, 2.90 g/t gold, 145.2 g/t silver (including 4.0m grading 0.3% copper, 1.5% lead, 1.4% zinc, 4.45 g/t gold, 178.8 g/t silver). Drill Hole LR007: LR007 intercepted mineralization on section 6800E, which is a 100 meter step out to the east of any previous drilling at Romanera and demonstrates continuation of the mineralization eastward beyond historical drilling.

Massive sulphide mineralization was intercepted approximately 400 meters vertically below surface. The hole intercepted the Lower Lens from 547.0m with 7.0m grading 0.8% copper, 0.7% lead, 2.9% zinc, 0.15 g/t gold, 14.7 g/t silver (including 2.5m grading 0.6% copper, 1.5% lead, 6.9% zinc, 0.24 g/t gold, 30.5 g/t silver). La Infanta: Drilling continues to expand the La Infanta Deposit.

Mineralization has now been shown to extend for at least 1,200 meters along strike and to a depth of approximately 400 meters and remains open in all directions. The mineralization occurs in an extensive, tabular sheet in the North Block which is interpreted to be a faulted continuation of the South Block. The South Block is truncated at approximately 130 meters depth by a thrust fault.

Drill hole IN054 has intersected high grades in the North Block similar to those seen in the South Block (details below) and it is possible this is the displaced continuation of the high grade South Block mineralization. Drilling is continuing to evaluate this area on the east side of the deposit. The significant intercepts highlighted below are located in the eastern, central and western sides of the La Infanta deposit, respectively.

The strike length between these holes is 1,200m and depths range between 170 and 350 m below surface. Drill Hole IN054: IN054 intercepted mineralization 170m below surface, in the eastern side of the deposit, in the North Block. The intercept occurs from 220.2m with 3.2m grading 1.9% copper, 9.2% lead, 17.1% zinc, 0.55 g/t gold, 226.3 g/t silver (including 1.3m grading 3.9% Copper, 20.0% lead, 36.8% zinc, 0.53 g/t gold, 401.4 g/t silver).

Drilling around this intercept is planned to test the continuity of the mineralization. Drill Hole IN039: IN039 intercepted mineralization 350m below surface, in the center part of the deposit, in the North Block. The intercept occurs from 375.0m with 3.5m grading 0.9% copper, 5.2% lead, 3.0% zinc, 0.46 g/t gold, 184.3 g/t silver (including 1.2m grading 2.6% copper, 14.5% lead, 8.7% zinc, 1.31 g/t gold, 526.0 g/t silver).

Drillhole IN039 is the deepest hole in this area in La Infanta demonstrating the deposit continues at depth in this area. Drill Hole IN045: IN045 intercepted mineralization 220m below surface, in the western part of the deposit, in the North Block. The intercept occurs from 262.2m with 9.1m grading 0.5% copper, 1.6% lead, 2.8% zinc, 0.42 g/t gold, 62.4 g/t silver (including 0.9m grading 2.7% copper, 5.6% lead, 10.7% zinc, 1.31 g/t gold, 400.0 g/t silver).

Drillhole IN045 is the westernmost extent of the La Infanta deposit to date, indicating the mineralization continues towards the west.