202631 releases
Emerita Resources Provides Update on Preliminary Feasibility Study
The Preliminary Feasibility Study for the Iberian Belt West Project in Spain is in final review, with release now expected in the coming weeks rather than the previously indicated timing. Emerita's recently updated Board, which has formed a Technical Committee of independent directors, expanded the final review to add technical and quality assurance oversight, the primary reason for the delay.
Study resultsEmerita Announces Changes to Board of Directors
Oscar Cabrera and Peter McRae have been appointed to Emerita Resources' Board of Directors, effective September 16, 2026. The Board also accepted the resignations of directors Catherine Stretch and Marilia Bento, effective the same date, tendered under the Company's Majority Voting Policy following the results of the August 25, 2026 annual general and special meeting and an internal organizational and governance review.
ManagementEmerita Resources Provides Update on Aznalcóllar Administrative Proceedings: TSJA Lifts Suspension of Proceedings
The High Court of Justice of Andalusia (TSJA) issued a court order dated September 9, 2026, lifting the suspension of administrative litigation proceedings examining the Aznalcóllar tender (Ordinary Procedure 528/2015); Emerita was notified on September 10, 2026. The proceedings had been suspended since November 21, 2018 pending criminal proceedings on the same facts, with only the judgment remaining. The TSJA will rule on whether there were administrative irregularities in awarding the tender, though no date for judgment has been provided.
CorporateEmerita Announces Appointment of Joseph Belan as Executive Chairman of the Board
Joseph Belan has been appointed Executive Chairman of Emerita Resources' Board effective September 9, 2026, succeeding David Patterson, who steps down as Chair and as a director on the same date. Belan joined the Board on June 8, 2026. The vacancy has not been filled; a Board advisory committee of Belan, Agne Ahlenius and Joaquin Merino is continuing an internal organizational and governance review and considering remaining resignations received after the August 25, 2026 shareholder meeting.
ManagementEmerita Announces AGM Results and Filing of Q3 Interim Financial Statements and MD&A
All six director nominees were elected at the August 25, 2026 annual general and special meeting, but votes withheld exceeded votes for Marilia Bento, Catherine Stretch and David Patterson, each of whom tendered a resignation under the Company's Majority Voting Policy for Board consideration. Resolutions setting the number of directors and re-approving the rolling stock option plan did not receive the requisite shareholder approval, while the appointment of auditors was approved. Q3 interim financial statements and MD&A for the quarter ended June 30, 2026 were filed on SEDAR+.
CorporateEmerita Resources Awarded 108,877 Euros R&D Grant from Andalusian Government and EU Funding to Advance Metallurgical Innovation for the IBW Project
A €108,877 grant has been awarded to Emerita Resources' Spanish operating entity by Andalusia's TRADE agency to fund metallurgical research at the wholly-owned Iberian Belt West project in Spain. The 23-month IBW-3METAu project, based in Puebla de Guzmán (Huelva), has a total eligible budget of €311,077, with the grant covering 35% under the Andalusia ERDF 2021–2027 Program, 85% co-financed by the EU. Work targets improved copper, zinc and lead concentrate quality and recovery of high-purity antimony. The grant is payable in a single payment after completion and justification of eligible activities.
CorporateEmerita Provides Shareholders With Additional Facts Regarding Falcon Project and Risk of Activist Led Withhold Campaign
Shareholders are urged to vote FOR all six management director nominees — Joaquin Merino, Marilia Bento, Catherine Stretch, David Patterson, Agne Ahlenius and Joseph Belan — ahead of Emerita's Annual General and Special Meeting on August 25, 2026, with management proxies due by 10:00 a.m. ET on Friday, August 21, 2026. The release rebuts PM Super Fund's withhold campaign, stating a Special Committee formed after March 2026 OSC findings recommended the Falcon Project civil claim already filed against former officers and related parties.
CorporateEmerita Responds to Withhold Campaign and Urges Shareholders to Vote for All Six Director Nominees
Emerita's Board is urging shareholders to vote FOR all six director nominees at its Annual General and Special Meeting on August 25, 2026, in response to a withhold campaign by PM Super Fund targeting directors David Patterson, Marilia Bento and Catherine Stretch. The proxy deadline is 10:00 a.m. Toronto time on August 21, 2026. The Company notes three of six nominees joined the Board since April 2026, five are independent, and it has commenced a civil action in Ontario against certain former directors and officers, Lithium Ionic Corp. and others over the Falcon Project.
CorporateEmerita Files Management Information Circular for Annual and Special Meeting and Reminds Shareholders to Vote
A management information circular has been filed and mailed for Emerita's 2026 Annual General and Special Meeting, to be held in person on August 25, 2026 at 10:00 a.m. Toronto time, with a July 24, 2026 record date and a proxy deadline of 10:00 a.m. on August 21, 2026; shareholders will elect six nominees, appoint auditors, approve the stock option plan and fix the number of directors. The Company has commenced a civil claim relating to the Falcon Project against certain former directors and officers, Lithium Ionic Corp. and other parties, with allegations not proven.
CorporateEmerita Announces CFO Transition
Ian Fodie has been appointed Chief Financial Officer of Emerita Resources Corp., effective immediately, replacing Gregory Duras, who is no longer serving in the role. Fodie has over 35 years of experience across biotechnology, life sciences, technology, exploration and development, and entertainment, including more than 25 years of public company experience. Emerita explores and develops mineral properties in Europe, primarily in Spain, with offices in Sevilla and Toronto.
ManagementEmerita Intersects 3.9 Meters Grading 3.8% Copper, 0.9% Lead, 1.6% Zinc, 2.81 g/t Gold and 71.26 g/t Silver at El Cura Deposit. Public Consultation Submission Phase of the AAU (Autorizacion Ambiental Unificada) Now Complete
Drilling at the El Cura deposit on the wholly owned Iberian Belt West project in Spain returned 3.9m grading 3.8% copper, 0.9% lead, 1.6% zinc, 2.81 g/t gold and 71.26 g/t silver in hole EC102, including 2.6m at 5.5% copper, and 6.6m at 0.9% copper, 1.4% lead, 2.5% zinc, 0.89 g/t gold and 51.52 g/t silver in EC099. More than 100 holes totaling 37,329m are complete since June 2023. The public comment phase of the AAU environmental authorization has concluded, with an Environmental Opinion to follow.
Drill resultsEmerita Provides Update on the Progress of IBW Project's Ongoing Prefeasibility Study
Results of the Prefeasibility Study for the wholly owned Iberian Belt West project in Spain, begun in December 2025 and initially expected by June 2026, are now expected during the third quarter of 2026, to allow additional metallurgical test work on at least two new process approaches. Most PFS design work is complete, including underground mine design, surface layout with flotation plant, and a Railveyor discharge loop. The Aznalcóllar public tender administrative decision remains pending.
Study resultsEmerita Announces Appointment of New Independent Director
Joseph Belan has been appointed to Emerita Resources' Board of Directors as an Independent Director, effective immediately. Belan is Chairman and CEO of merchant bank Karst Capital Partners and has over 25 years of investment banking and private equity experience, including senior M&A roles at Credit Suisse First Boston, Goldman Sachs and UBS, and Managing Director of Pala Investments. He joins recently appointed independent director Agne Ahlenius.
ManagementEmerita Announces Appointments of New Independent Director and Corporate Secretary
Agne Ahlenius has been appointed to Emerita Resources' Board of Directors as an independent director, effective immediately. He is currently CEO and Managing Director of the San Juan Mine Project (tungsten), owned by Eurobattery Minerals AB Sweden, and has over 35 years of international mine development and operations experience, including roles at Boliden AB, MATSA in Spain and Zinkgruvan Mining AB. Lisa Thompson was also appointed Corporate Secretary, effective immediately, with more than 25 years of corporate governance and securities compliance experience.
ManagementEmerita Intersects 7.2m Grading 1.0% Copper, 4.0% Lead, 7.5% Zinc, 0.13 g/t Gold and 83.32 g/t Silver at La Infanta Deposit; Deep Hole Extends the La Infanta Deposit Limits at Depth
Drilling at the La Infanta deposit, part of the wholly owned Iberian Belt West project in Spain, returned 7.2m grading 1.0% copper, 4.0% lead, 7.5% zinc, 0.13 g/t gold and 83.32 g/t silver in hole IN095, and 16.9m grading 0.2% copper, 1.5% lead, 1.9% zinc, 0.11 g/t gold and 9.29 g/t silver in IN093. Exploration hole INN08 cut 15.0m grading 0.1% copper, 0.4% lead, 0.8% zinc, 0.28 g/t gold and 7.26 g/t silver at 380m depth, 150m from the nearest hole, extending mineralization beyond the 2025 resource limits. Drilling is paused for the summer.
Drill resultsEmerita Provides Response to Demand Letter
A demand letter was received on May 14, 2026 from legal counsel to PM Super Fund and Wayne Peters, the sole director of the trustee of the Super Fund, requesting that Emerita Resources initiate legal proceedings in connection with the Falcon Litio property. The Company's Special Committee of independent directors has been tasked with reviewing the letter and its allegations and determining the appropriate course of action, and has begun that review.
CorporateEmerita Announces That the IBW Project Has Commenced the Public Consultation Phase for the Exploitation Permit Application
The Unified Environmental Authorization (AAU) for the Iberian Belt West Project's Exploitation Permit application advanced to the public consultation stage on May 13, 2026, following review by the Andalucian Environment Department in Huelva Province, and has been published in the Boletín Oficial de la Junta de Andalucía. A 30 business day public comment period will commence, with the Authorities also seeking input from other Huelva Province agencies. Damian Lopez has resigned as Corporate Secretary, effective immediately.
CorporateEmerita Provides Update Regarding Unsolicited Offer from Denarius Metals
Denarius Metals rescinded its unsolicited all-share offer to acquire all outstanding Emerita Resources common shares at $0.45 per share, via a letter received May 6, 2026. Emerita's Board and M&A Committee, after consulting Canaccord Genuity and legal advisors, had determined the offer price and lack of substantive transaction details did not merit further discussion. The Company continues work on its Iberian Belt West Project in Spain, with an updated NI 43-101 resource estimate, exploitation licence public hearings and a Pre-Feasibility Study upcoming.
AcquisitionEmerita Forms Special Committee, Engages Canaccord Genuity and Confirms Receipt of a Second Unsolicited Offer Letter From Denarius Metals
A second unsolicited offer letter from Denarius Metals, received April 23, 2026, proposes acquiring all issued and outstanding Emerita shares at $0.45 per share, with consideration entirely in Denarius common shares and no other terms outlined. Emerita has formed an M&A Committee of independent directors following Denarius' first offer letter of April 10, 2026, and engaged Canaccord Genuity Corp. as financial advisor. Denarius anticipates a court-approved plan of arrangement; no shareholder action is required at this time.
CorporateEmerita Intersects High Grade Zone of 4.9m Containing Mineralization Grading 3.5% Copper, 1.95 g/t Gold and 95.63 g/t Silver at El Cura
Drilling at the El Cura deposit on the wholly owned Iberian Belt West project in Spain returned 4.9m grading 3.5% copper, 0.1% lead, 0.1% zinc, 1.95 g/t gold and 95.63 g/t silver in hole EC097, including 1.6m at 7.5% copper, 4.43 g/t gold and 23.44 g/t silver, while EC096 returned 5.9m at 0.8% copper, 1.3% lead, 2.7% zinc, 1.27 g/t gold and 46.47 g/t silver. EC097 is the westernmost mineralized intercept to date, 958m from EC002. Drilling will be scaled back as a prefeasibility study is expected later this year, and Emerita has decided not to proceed with the acquisition of Western Metallica's Nueva Celti project.
Drill resultsEmerita Comments on Press Release Issued by Denarius Metals
Denarius Metals Corp. issued a press release dated April 21, 2026 indicating its intention to make an increased offer to acquire all issued and outstanding common shares of Emerita Resources Corp., following an initial offer disclosed in Emerita's April 13, 2026 release. Emerita says it has not received an additional written offer from Denarius. The Board, with its advisors, will determine the course of action and provide an update in due course; no shareholder action is required at this time.
NewsEmerita Announces Board and Management Transitions
CEO, director and co-founder David Gower and Chairman Larry Guy have resigned effective immediately, with Joaquin Merino appointed Interim CEO pending a search for a permanent replacement and David Patterson named Chairman. Both cited distractions from recently announced untested allegations by the Ontario Securities Commission, which they dispute and intend to contest. They will continue providing technical and administrative support as consultants during the transition, including work on the Iberian Belt West Project in Spain.
ManagementEmerita Announces Renewal of the Nuevo Tintillo Property Permit and Changes to Board of Directors
A three-year renewal of the Investigation Permit for the Nuevo Tintillo property — 227 mining claims covering 6,874.2 hectares in the Iberian Pyrite Belt, Seville Province, Andalusia, Spain — has been granted by the Regional Government of Seville. Mapping and prospecting outlined a mineralized trend about 1.5 km northwest of the historic Santa Flora copper mine, with outcropping gossan and siliceous breccias over roughly 400 metres of strike; follow-up ground geophysics and mapping are planned ahead of possible drilling. David Patterson was appointed an independent director, replacing Michael Jones, who resigned.
CorporateEmerita Confirms Receipt of Unsolicited Offer Letter from Denarius Metals
An unsolicited, non-binding offer letter has been received from Denarius Metals Corp. to acquire all issued and outstanding Emerita common shares at a 15% premium to Emerita's April 10, 2026 closing price, with consideration entirely in Denarius common shares. No other terms or conditions were outlined, and Denarius states the proposal is subject to a definitive agreement and customary conditions. Emerita's Board will review the letter with its advisors; no shareholder action is required at this time.
AcquisitionEmerita Resources Corp. Discloses OSC Application for Enforcement Proceeding Regarding Historical Matters
The Ontario Securities Commission has filed an Application for Enforcement Proceeding against Emerita Resources and certain officers and directors over public disclosure regarding the Plaza Norte project in Spain from October 2017 to May 2023, including permit status, appeal developments and the Company's interest in the project. The OSC also alleges certain officers and directors misappropriated a corporate opportunity related to the Falcon Litio MG property in Brazil, and that one provided misleading information during the investigation; Emerita is not a respondent on the Falcon allegations. A Special Committee of independent directors has been established; the allegations are unproven.
CorporateEmerita Announces Results of Airborne Electromagnetic and Magnetic Survey, Provides Update on Mineral Resources Estimate
Interpreted results from a December helicopter time-domain electromagnetic and magnetic survey covering 13,900 hectares at the Iberian Belt West Project and adjacent San Antonio land package in Spain identified several targets, including a structural corridor at least 5 km long, with surface mapping showing primary and secondary copper minerals. Flight lines were spaced 100 m apart, measuring to approximately 500 m depth; ground geophysics is being designed ahead of drilling later this year. The updated NI 43-101 resource estimate, now based on Net Smelter Return rather than metal equivalents, has been delayed.
Drill resultsOTC Markets Group Welcomes Emerita Resources Corp. to OTCQX
Emerita Resources has qualified to trade on the OTCQX Best Market, upgrading from the OTCQB Venture Market, and began trading January 30, 2026 under the symbol EMOTF. The company remains listed on the TSX-V as EMO. CEO David Gower said the company continues to advance its Iberian Belt West project in Spain through permitting and prefeasibility toward a production decision.
CorporateEmerita Resources Provides Corporate Update
An updated NI 43-101 mineral resource estimate for the Iberian Belt West project in Spain is expected in the coming months, with SLR's prefeasibility study scheduled for completion by the end of Q2 2026; metallurgical testing showed gold recoveries of over 80% and copper, zinc and lead concentrates. The public comment period toward the Unified Environmental Authorization is expected to begin in Q1 2026. Emerita completed a $26 million equity financing and secured a US$50 million credit facility, and plans 2026 drilling at Nuevo Tintillo.
CorporateEmerita Intersects 121M Grading 16 Copper 085 Gt Gold 3211 Gt Silver And 14M Grading 58 Copper 489 Gt Gold And 510 Gt Silver At El Cura
Drilling at the El Cura deposit, part of the wholly owned Iberian Belt West project in Spain, returned 12.1m grading 1.6% copper, 0.1% lead, 0.1% zinc, 0.85 g/t gold and 32.11 g/t silver in hole EC092, and 1.4m grading 5.8% copper, 4.89 g/t gold and 51.0 g/t silver in EC085. Holes EC085 and EC087, over 200m beyond the 2025 Indicated Mineral Resource limits, extend the deposit to the west. El Cura now shows roughly 650m of strike and 320m down-dip, with 74 of 86 holes hitting mineralization, and will be included in the prefeasibility study.
Drill results
202531 releases
Emerita Resources to Petition the Administrative Court to Issue Its Ruling With Respect to the Aznalcollar Public Tender Dispute, Forgoes Appeal of Criminal Trial
A petition will be filed with the Administrative Court of Andalucia to complete its ruling on alleged irregularities in the awarding of the Aznalcollar public tender in Spain, with counsel suggesting a resolution is likely in 2-3 months. Emerita will not appeal the recent criminal case ruling, saying an appeal to the Supreme Court would address legal technicalities, be unlikely to change sentencing, and would likely delay the Administrative Court by at least 18-24 months.
CorporateEmerita Resources Completes Nebari Facility Upsizing
The TSX Venture Exchange has approved an amended credit agreement with Nebari Natural Resources Credit Fund II, LP providing a fourth tranche of USD$35,000,000 as a standby loan, bringing total financing capacity to up to USD$50 million. Nebari waived its entitlement to receive Emerita common share purchase warrants in connection with the upsized loan. Proceeds are intended for exploration and geological drilling, engineering studies, environmental permitting at the wholly-owned Iberian Belt West Project in Spain, deposits on long lead time items and general and administrative costs.
CorporateEmerita Receives Official Court Resolution in Aznalcóllar Trial
The Third Section of the Provincial Court of Seville determined it will not impose any criminal convictions on any of the accused in the Aznalcóllar criminal trial. Emerita said it will review the 215-page written resolution with its Spanish legal counsel to determine whether a further response is appropriate and will comment further afterward. A ruling from the Tribunal Superior de Justicia de Andalucia on alleged irregularities in the tender is expected in the near future, while the company continues work toward an Exploitation License for its Iberian Belt West project.
CorporateEmerita Awards Pre-Feasibility Study Contract for the Iberian Belt West Project to SLR Consulting
SLR Consulting Limited (formerly Wardell Armstrong) has been awarded the contract to complete a NI 43-101 Pre-Feasibility Study on the Iberian Belt West project in Spain, selected from an initial group of twenty-three companies narrowed to a short list of five. The PFS is expected to be completed in approximately six months and will cover mine to mill design, process plant and flowsheet design, surface infrastructure, capital and operating costs, and financial analysis. It will be the first independent third-party evaluation of IBW.
Study resultsEmerita Announces Airborne Mag-EM Geophysical Survey Over Western Spanish Pyrite Belt
A 1,536 km helicopter time-domain electromagnetic and magnetic (HTEM) survey will begin in December 2025 over the Iberian Belt West (IBW) project and the adjacent San Antonio exploration project in Spain, covering the La Romanera, El Cura and La Infanta deposits. Flight lines are spaced at 100 m, measuring to approximately 500 m depth, with Xcalibur Smart Mapping flying the survey and Intelligent Exploration of Canada handling QA/QC and interpretation. Processed data is expected in January 2026, with interpretation between January and February 2026.
Drill resultsEmerita Intersects 9.6 Meters Grading 2.7% Copper, 1.85 g/t Gold and 6.9 Meters Grading 1.4% Copper, 1.85 g/t Gold at El Cura Deposit
Delineation drilling at the El Cura deposit, part of the wholly owned Iberian Belt West project in Spain, returned 9.6m grading 2.7% copper, 0.4% lead, 0.5% zinc, 1.85 g/t gold and 27.08 g/t silver in hole EC072, and 6.9m grading 1.4% copper, 0.9% lead, 2.4% zinc, 1.32 g/t gold and 48.22 g/t silver in EC079. EC072 extends the gold-copper zone in hole EC046 westward by 35 meters; hole EC074 returned no significant assay. Mineralization is delineated over approximately 650 meters.
Drill resultsEmerita Welcomes the Canadian Ambassador to Spain to its Sevilla Office
Canadian Ambassador to Spain and Andorra Jeffrey Marder and First Secretary Martin Arseneault will visit Emerita Resources' Seville office on November 12, 2025. The Company will review progress on its investments in the Andalusia Region, provide an update on the Aznalcóllar judicial process, and present technologies from Sudbury and Quebec, Canada and Andalusia, Spain that it plans to incorporate into the Iberian Belt West project design. The release notes the United States recently added silver and lead to its critical minerals list.
CorporateEmerita Extends El Cura Deposit 90 Meters Westward, Intersecting 4.1 Meters Grading 3.9% Copper, 3.6% Lead 8.5% Zinc, 4.08 g/t Gold and 96.4 g/t Silver
Drill hole EC080 at the El Cura deposit, part of the wholly-owned Iberian Belt West project in Spain, returned 4.1 m grading 3.9% copper, 3.6% lead, 8.5% zinc, 4.08 g/t gold and 96.39 g/t silver, including 1.4 m at 5.7% copper, 4.1% lead, 9.7% zinc, 3.89 g/t gold and 102.86 g/t silver, extending the deposit 90 m to the west. Other holes included EC069 with 3.8 m at 1.8% copper, 2.3% lead, 6.2% zinc, 3.60 g/t gold and 70.24 g/t silver. Emerita approved an additional 12,000 metres of drilling.
Drill resultsEmerita Granted Two Additional Properties in the IBW Area, "San Antonio" and "Terranova" Exploration Permits and Enters Into Agreement to Acquire the Nueva Celti Project in Andalusia, Spain
Exploration permits for the San Antonio and Terranova claims have been granted by the Ministry of Industrial Policy and Energy of Huelva, Andalusia, adding 181 hectares adjacent to the Iberian Belt West Project and bringing Emerita's IBW-area holdings to 8,144 hectares; the permits run three years and are renewable. Emerita also signed an LOI with Western Metallica Resources to acquire its Spanish subsidiary holding the 1,237-hectare Nueva Celti copper project in Seville province for CAD$150,000 cash plus $250,000 in shares.
CorporateEmerita Resources Announces Increase to Loan Financing with Nebari Resources to Advance IBW Project
An amended credit agreement with Nebari Natural Resources Credit Fund II, LP adds a fourth tranche of USD$35,000,000 as a standby loan, raising the maximum aggregate principal available to USD$50,000,000 across four tranches; only Tranche 1 of USD$6,000,000 has been drawn to date. Proceeds are for working capital tied to drilling, engineering studies, environmental permitting at the wholly-owned Iberian Belt West Project in Spain, long lead time deposits and G&A. Emerita must issue Nebari 1,219,512 warrants exercisable at $1.45 until August 16, 2028, subject to TSXV approval.
FinancingEmerita Announces Closing of C$25M Brokered Private Placement and C$1.09M Concurrent Non-Brokered Private Placement
A brokered private placement of 23,809,500 units at C$1.05 per unit closed for gross proceeds of C$24,999,975, alongside an upsized non-brokered placement of 1,040,000 units at the same price for C$1,092,000. Each unit comprises one common share and one-half warrant exercisable at C$1.30 until August 26, 2027; agents received C$1,727,213.25 in cash commission and 1,644,965 compensation options. Proceeds will fund exploration and development on Emerita's Spanish mineral properties and general corporate and working capital purposes.
FinancingEmerita Intersects 169 Meters Grading 14 Copper 21 Zinc 093 Gt Gold 4266 Gt Silver And 72 Meters Grading 10 Copper 19 Zn 131 Gt Gold 6010 Gt Silver At El Cura Deposit
Drilling at the El Cura deposit, part of the wholly owned Iberian Belt West project in Spain, returned 16.9m grading 1.4% copper, 1.0% lead, 2.1% zinc, 0.93 g/t gold and 42.66 g/t silver in hole EC067, and 7.2m grading 1.0% copper, 1.4% lead, 1.9% zinc, 1.31 g/t gold and 60.10 g/t silver in EC062. Hole EC057 cut 3.1m at 2.3% copper, 4.7% zinc and 2.21 g/t gold. An additional 10,000 metres of diamond drilling has been approved to convert Inferred resources to Indicated and extend the deposit.
Drill resultsEmerita Resources Announces Concurrent Offering
A concurrent non-brokered private placement of up to 1,000,000 units at $1.05 per unit for gross proceeds of up to $1,050,000 was announced, after the previously announced brokered offering of up to 23,809,500 units was fully subscribed, bringing aggregate maximum gross proceeds to $26,049,975. Each unit includes one common share and one-half warrant exercisable at $1.30 for 24 months. An existing large shareholder has agreed to subscribe. Proceeds will fund exploration and development of the Spanish properties; closing is scheduled on or about August 26, 2025.
FinancingEmerita Resources Announces C$15 Million Private Placement
A best-efforts private placement of up to 14,285,800 units at $1.05 per unit for gross proceeds of up to $15,000,090 has been launched, with Clarus Securities and Velocity Trade Canada as co-lead agents. Each unit includes one common share and half a warrant exercisable at $1.30 for 24 months; Eric Sprott has committed a $5 million lead order. Proceeds will fund exploration and development on the company's Spanish properties and working capital, with closing expected on or about August 26, 2025.
FinancingEmerita Announces Upsize to C$25M Brokered Private Placement Financing
A previously announced $15,000,090 best-efforts marketed private placement has been upsized to up to 23,809,500 units at $1.05 per unit for gross proceeds of up to $24,999,975. Each unit includes one common share and one-half warrant exercisable at $1.30 for 24 months after closing. Proceeds will fund exploration and development on Emerita's Spanish mineral properties plus general corporate and working capital. Clarus Securities and Velocity Trade Canada are co-lead agents; closing is scheduled on or about August 26, 2025.
FinancingEmerita Announces Completion of Hearings to Resolve Criminal Charges Related to the Awarding of Aznalcóllar Public Tender
Hearings in the criminal trial over the awarding of the Aznalcóllar tender in Spain concluded on July 15, 2025, having commenced March 3, 2025, before the Third Section of the Provincial Court of Seville. The three trial judges will now prepare written rulings, which Emerita believes will likely not be delivered until the fall. The case involves 16 defendants facing allegations including influence peddling, fraud, embezzlement and prevarication.
CorporateEmerita Continues to Expand the El Cura Deposit, Intersecting Mineralization in 80% of Drill Holes, Including 6.9 Meters Grading 1.2 g/t Gold, 0.4% Copper
Drilling at the El Cura deposit, part of the wholly owned Iberian Belt West project in Spain, returned 6.9 m grading 0.4% copper, 0.5% lead, 0.2% zinc, 1.23 g/t gold and 28.06 g/t silver in hole EC051, including 3.9 m at 0.5% copper, 0.8% lead, 0.3% zinc, 1.75 g/t gold and 41.35 g/t silver; EC053 returned 3.1 m at 0.9% copper, 1.33 g/t gold, and EC056 3.0 m at 0.6% copper, 1.79 g/t gold. EC052 and EC055 had no significant mineralization. Three rigs are drilling El Cura, with a fourth reassigned near La Infanta.
Drill resultsEmerita Appeals Aznalcóllar Exploitation Permit Grant
An appeal has been filed against the Administration's May 30, 2025 resolution granting the Aznalcóllar exploitation permit in Spain to Minera Los Frailes S.L., requesting that the permit and award resolution be deemed null and void. Grounds include that MLF did not participate in the public tender, the absence of formal authorization granting MLF rights to the project, uncertainty over which party submitted the tender, and alleged breaches of mining and administrative law. The appeal is separate from the criminal trial concluding in July 2025 and other proceedings.
CorporateEmerita Appeals Aznalcóllar Administrative Ruling
An appeal has been filed against the April 2025 ruling of the Tribunal Superior de Justicia de Andalucía, which decided against Emerita's 2017 complaint alleging the Junta de Andalucía committed a "via de hecho" in awarding the Aznalcóllar tender and that Minera Los Frailes S.L., which did not participate in the tender, improperly accepted the mineral rights. The Court confirmed Emerita met the formal requirements for appeal, and the Tribunal Supremo in Madrid must now rule on whether grounds for appeal exist and on the merits.
CorporateEmerita Announces AGM Results
All director nominees listed in the May 9, 2025 management proxy circular were elected at Emerita Resources' annual and special shareholders meeting, each approved by more than 93% of votes cast; shareholders also approved the auditors' appointment and the stock option plan. The Company also entered a 12-month services agreement with CanaCom Group for digital content, marketing and media distribution for C$120,000 plus taxes, and issued 200,000 stock options at an exercise price of $1.28 with a two-year term, vesting quarterly and subject to TSX Venture Exchange approval.
CorporateEmerita Provides Comments on Announcement Approving Development of Aznalcollar Project, Spain
The Junta de Andalucia's Minister of Energy and Mines stated on May 30, 2025 that an exploitation license to develop the Aznalcollar project in Spain has been granted to Minera Los Frailes. Emerita, through subsidiary Emerita Resources España, intends to appeal the award on the grounds that a criminal trial over the Aznalcollar public tender remains unresolved, with hearings due to be completed in July and decisions rendered shortly thereafter. The resolution is not official until published in the official gazette.
CorporateEmerita Achieves 81.5% Gold Recovery for 27% Improvement Over Previous Metallurgical Testing for IBW Project
Updated metallurgical testing at the wholly-owned Iberian Belt West project in Spain returned 81.5% gold recovery at the La Romanera deposit using the two-stage CLEVR Process, a 27% improvement over the 64.1% recovery used in the March 17, 2025 mineral resource estimate, alongside zinc recovery of 91.30% and copper of 87.70%. Calculated El Cura recoveries are 80.80% gold, 87.90% zinc and 92.70% copper. Tests confirmed a 97.8% reduction in sulfide content and 90% arsenic removal, with 18 optimization tests completed at Dundee Sustainable Technologies.
Study resultsEmerita Files NI 43-101 Technical Report for the IBW Project, Marking a 35% Increase in Total Indicated Resources and a 44% Increase in Total Inferred Resources
An NI 43-101 technical report for the Iberian Belt West Project in Andalusia, Spain, prepared by Wardell Armstrong International with an effective date of February 26, 2025, has been filed, supporting the updated mineral resource estimate announced March 17, 2025. The estimate, based on 105,554 metres in 299 drill holes across the La Romanera, La Infanta and El Cura deposits, totals 18.96Mt indicated at 2.88% zinc, 1.42% lead, 0.5% copper, 66 g/t silver and 1.28 g/t gold, plus 6.80Mt inferred at 3.25% zinc, 1.50% lead, 0.73% copper, 56.3 g/t silver and 0.77 g/t gold.
Resource updateEmerita Intersects 10.8 Meters Grading 4.8% Copper, 1.4 g/t Gold and 8.9 Meters Grading 1.1% Copper, 1.2 g/t Gold at El Cura Deposit
Drilling at the El Cura deposit, part of the wholly owned Iberian Belt West project in Spain, returned 10.8 m grading 4.8% copper, 1.4 g/t gold and 72.6 g/t silver in hole EC050 and 8.9 m grading 1.1% copper, 1.2 g/t gold and 15.5 g/t silver in EC046. Other holes included 3.7 m at 1.3% copper, 1.6% lead, 2.6% zinc, 0.9 g/t gold and 52.1 g/t silver; three holes returned no significant mineralization. Four rigs are drilling at El Cura, which remains open in all directions.
Drill resultsEmerita Provides Update on Aznalcóllar Administrative Proceedings
The Tribunal Superior de Justicia de Andalucía has ruled against Emerita's 2017 complaint alleging that the Junta de Andalucía committed a "via de hecho" in administering the Aznalcóllar public tender, finding on a technical basis that no via de hecho occurred. Emerita may appeal but is focusing on the ongoing Aznalcóllar criminal trial and its separate 2015 Administrative Case, on which the Court has suspended its resolution pending the criminal trial's outcome.
CorporateEmerita Announces a 35% Increase in Total Indicated Mineral Resource Tonnage and a 44% Increase in Total Inferred Mineral Resource Tonnage with Updated Mineral Resource Estimate at its Iberian Belt West Project
An updated mineral resource estimate for the wholly owned Iberian Belt West project in Spain, effective February 26, 2025, reports total indicated resources of 18.96Mt grading 2.88% zinc, 1.42% lead, 0.5% copper, 66 g/t silver and 1.28 g/t gold, plus inferred resources of 6.80Mt at 3.25% zinc, 1.50% lead, 0.73% copper, 56.3 g/t silver and 0.77 g/t gold. That is a 35% increase in indicated tonnage and 44% in inferred versus the May 23, 2023 estimate, including a maiden estimate for El Cura. The estimate, by Wardell Armstrong International, is based on 299 drill holes totalling 105,554 metres across La Romanera, La Infanta and El Cura.
Resource updateEmerita Announces Commencement of Hearings to Resolve Corruption Charges Related to Awarding of Aznalcollar Public Tender, Spain
Hearings in the criminal trial over the awarding of the Aznalcóllar mining tender in Spain began March 3, 2025 at 10:00 AM local Seville time before the Third Section of the Provincial Court of Seville, with up to 40 sessions reserved across March through July and completion expected by July 15, 2025. Sixteen defendants, tender panel members and proprietors of Minorbis S.L., face charges including influence peddling, fraud, embezzlement and bribery. Emerita states it is the only qualified bidder in the tender.
CorporateEmerita Resources Recognized on the 2025 TSX Venture 50 List of Top Performing Companies
Emerita Resources has been named to the 2025 TSX Venture 50, a ranking of the 50 top-performing companies out of 1,605 TSX Venture Exchange listed companies as of December 31, 2024, based on three equally weighted criteria: one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value. The company cited 2024 work at its Iberian Belt West and Nuevo Tintillo projects in Spain, including metallurgical studies at IBW and drilling at the El Cura deposit.
CorporateEmerita Has Been Granted the “Ontario” Exploration Permit Adjacent to Its Iberian Belt West Project; Hosts Several Historic Producing Mines
The Ministry of Industrial Policy and Energy of Huelva, Andalusia has granted Emerita the Ontario exploration permit, adding 5,573.23 hectares to its wholly owned Iberian Belt West project and increasing the project area from 2,394.1 hectares to 7,967.31 hectares. The permit runs for an initial three years, is renewable, and requires no further environmental or municipal approvals. Grab samples from historic waste dumps at San Jose and Peñuelas assayed up to 13.2% Cu. An updated IBW resource estimate including El Cura is expected in Q1-2025.
CorporateEmerita Intersects 9.3 Meters Grading 1.1% Copper and 1.2 G/T Gold with Additional Base Metal Sulphides at El Cura Deposit
Drilling at the El Cura deposit, part of the wholly owned Iberian Belt West project in Spain, returned 9.3 m grading 1.1% copper, 0.7% lead, 2.1% zinc, 1.2 g/t gold and 34.8 g/t silver in hole EC037, including 2.5 m at 1.7% copper and 2.0 g/t gold. EC036 returned 5.2 m at 2.1% copper, 1.3% lead, 2.8% zinc, 1.6 g/t gold and 65.5 g/t silver. Results will feed an updated NI 43-101 resource estimate expected around the end of Q1 2025.
Drill resultsEmerita's 2024 Year in Review and Strategic Outlook for 2025
A 2024 review and 2025 outlook for the Iberia Belt West (IBW) project in Andalusia, Spain, reporting 40 drillholes totalling 15,320 metres in 2024, with La Romanera extended 150 metres along strike and El Cura extended over 880 metres west to 400 metres depth; an updated mineral resource estimate is expected before the end of Q1 2025 and a PEA in 2025. The Aznalcóllar tender litigation proceedings are scheduled to commence March 3, 2025. Emerita also granted 3,300,000 options at $1.18 for two years and 6,000,000 RSUs.
Corporate
202417 releases
Emerita Achieves Strong Metallurgical Results from Ongoing Testing Program at La Romanera Deposit Including 64.3% Gold Recovery
Metallurgical testing on the La Romanera deposit at the wholly-owned Iberian Belt West Project in Spain returned overall recoveries of 64.3% gold, 91.3% zinc, 85.8% copper, 80.5% silver and 49.9% lead, using conventional flotation plus a post-flotation roasting and CLEVR cyanide-free leaching stage. A second round of testing is underway with results expected in Q1 2025, and an updated mineral resource estimate including El Cura is expected in Q1 2025.
Study resultsEmerita Intersects 13.15m Grading 1.1% Copper, 1.1% Lead, 3.3% Zinc, 54.63 g/t Silver and 2.71 g/t Gold in Massive Sulphides at El Cura
Drilling at the El Cura deposit, part of the wholly owned Iberian Belt West project in Spain, returned 13.15m grading 1.1% copper, 1.1% lead, 3.3% zinc, 54.63 g/t silver and 2.71 g/t gold in hole EC028, including 4m at 1.7% copper, 0.5% lead, 2.1% zinc, 60.25 g/t silver and 3.91 g/t gold. EC022 returned 6.3m at 0.7% copper, 29.21 g/t silver and 1.99 g/t gold; EC016 and EC017 returned no significant results. A third drill has been added, with El Cura to be included in an NI 43-101 resource estimate expected early Q1 2025.
Drill resultsEmerita Provides Results for Phase 2 Metallurgical Testing Program at Iberian Belt West Project
Phase 2 metallurgical testing at the wholly-owned Iberian Belt West project in Spain produced separate copper, lead and zinc concentrates at commercial grades from both La Infanta and La Romanera, versus a zinc concentrate and semi-bulk copper-lead concentrate in Phase 1. La Infanta returned 20.2% Cu, 35.5% Pb and 52.9% Zn concentrate grades with 78.0% zinc recovery; La Romanera returned 20.1% Cu, 34.3% Pb and 52.6% Zn with 79.5% zinc recovery. Precious metals recovery tests are expected around end of November.
Study resultsEmerita Sponsors First Sustainable Mining Event in Huelva Province - SIM 'Sustainable International Mining' Summit
Sponsorship of the inaugural Sustainable International Mining Summit (SIM), to be held October 10, 2024 in the Guadiana Eurocity of Ayamonte, Huelva province, Spain, was announced by Emerita Resources Corp. The event is hosted by Global Omnium, a sustainability-focused Spanish company and a strategic partner of Emerita. The agenda covers Environmental, Social and Governance topics, with speakers from European and Canadian institutions and various industrial sectors.
CorporateEmerita Discovers New Gold-Silver Rich Gossans at Its Nuevo Tintillo Project
Gold- and silver-bearing gossans and siliceous breccias have been identified at the NW Prospect on the wholly-owned Nuevo Tintillo project in Spain's Iberian Pyrite Belt, about 1.5 km northwest of the historic Santa Flora copper mine and roughly 5 km east of Rio Tinto. The trend spans about 400 metres of strike, comprising a first zone over about 130 metres and a second zone of boulders and subcrops over about 75 metres. Mapping continues ahead of potential drill testing.
Drill resultsEmerita Resources Closes on First Tranche of USD$6 Million Under Credit Facility
USD$6 million has been drawn down and received under the first tranche of Emerita Resources' August 14, 2024 credit agreement with Nebari Natural Resources Credit Fund II, LP. The company issued 9,963,636 non-transferable common share purchase warrants to a nominated affiliate of the lender, exercisable at $0.825 until August 16, 2028, a 25% premium to the August 14 closing price of $0.66. Proceeds will fund drilling, study work and environmental permitting at the wholly-owned Iberian Belt West Project in Spain, plus general costs.
FinancingEmerita Resources Announces Loan Financing With Nebari Resources to Advance IBW Project
A credit agreement with Nebari Natural Resources Credit Fund II, LP provides Emerita with borrowings of up to USD$15,000,000 in three tranches of USD$6,000,000, USD$4,500,000 and USD$4,500,000, with drawdown of Tranches 2 and 3 at the Company's discretion. Interest accrues at three-month Term SOFR (floored at 4.0%) plus 11.50% per annum, maturing 48 months after Tranche 1 closing. Proceeds fund drilling, study work and environmental permitting at the wholly-owned Iberian Belt West Project in Spain. Emerita will issue 9,963,636 Loan Bonus Warrants at $0.825, subject to TSXV approval.
FinancingEmerita Announces AGM Results
All director nominees listed in the management proxy circular dated June 28, 2024 were elected at Emerita Resources' annual and special shareholders meeting held August 9, 2024, each receiving more than 96% of votes cast. Shareholders also approved the appointment of the Company's auditors, the stock option plan, and the restricted share unit and deferred unit plan.
CorporateEmerita Intersects 11.4m of Massive Sulfide Grading 4.3% Copper, 48.31 g/t Silver and 1.85 g/t Gold at El Cura, Extending the Deposit at Depth
Drillhole EC014 at the El Cura deposit, part of the wholly owned Iberian Belt West project in Spain, intersected 11.4 m grading 4.3% copper, 48.31 g/t silver and 1.85 g/t gold, including 6 m at 5.7% Cu, 1.97 g/t Au and 62.17 g/t Ag, extending the deposit 40 m down-dip. EC015 returned 4.6 m of 0.6% Cu, 1.2% Pb, 2.3% Zn, 33.02 g/t Ag and 0.65 g/t Au. First-pass drilling at Western Nuevo Tintillo finished with 4,318 m in 8 holes.
Drill resultsEmerita's Iberian Belt West Project (IBW) Has Been Granted with the Declaration of Strategic Interest by the Junta of Andalusia
The Junta of Andalusia has granted Declaration of Strategic Interest status to Emerita Resources' wholly-owned Iberian Belt West project in Huelva, Spain, by written resolution, prioritizing the project's administrative processing with assigned government officials and firm documentation timelines. An initial kick-off meeting with Junta officials took place July 31, 2024. Emerita applied for the designation in February 2024, following a September 2023 exploitation concession application and a May 2023 maiden resource estimate for La Romanera and La Infanta.
CorporateEmerita Intersects 11.4m of Massive Sulfide at El Cura, Extending the Mineral Deposit 60m Down Dip
Drill hole EC014 at the El Cura deposit, part of the wholly owned Iberian Belt West project in Spain, intersected 11.4 m of massive sulfide at roughly 350 m vertical depth, the thickest and deepest intercept to date there, extending mineralization 60 m down dip from hole EC013; assays are pending. Emerita has added a second drill rig and plans 15 additional holes to test continuity at depth and to the east and west of section 9750E.
Drill resultsEmerita Intersects High Grade Copper-gold Mineralization at El Cura; Mobilizes Second Rig to Accelerate El Cura Drill Program
Drilling at the El Cura deposit on the wholly owned Iberian Belt West project in Spain returned 10.6 m grading 1.7% copper, 0.95 g/t gold and 35.46 g/t silver in hole EC013, the deepest and thickest intercept to date at about 300 m vertical depth; EC012 cut 3.4 m of 1.7% copper, 3.09 g/t gold and 49.3 g/t silver, and EC008 cut 2.6 m of 1.8% copper, 1.51 g/t gold and 73 g/t silver. A second rig has been mobilized, with the two drills to complete an additional 3,500 m in 13 to 15 holes.
Drill resultsEmerita Provides Results for Phase I Metallurgical Testing Program at Iberian Belt West Project
Phase I metallurgical testing on the La Romanera and La Infanta deposits at the wholly-owned Iberian Belt West project in Spain returned average recoveries of 85.6% zinc, 62% copper and 59% lead, with commercial grade concentrates from both deposits, including 52.7% Zn and 23.9% Cu concentrates at La Infanta. Precious metal recoveries reached up to 48.6% silver and 17.2% gold. Phase II has been initiated with Wardell Armstrong International, targeting 60% or more gold recovery at La Romanera.
Study resultsEmerita Resources Announces Closing of Non-Brokered Private Placement
A non-brokered private placement of 12,500,000 units at $0.40 per unit closed for gross proceeds of $5,000,000. Each unit comprises one common share and one warrant exercisable at $0.60 for 36 months, with a four-month-and-one-day hold period; no finder fees were paid and final TSX Venture Exchange approval is pending. Net proceeds will fund exploration and development on Emerita's Spanish mineral properties and general corporate working capital.
FinancingEmerita Provides Update on Ongoing Metallurgical Test Program Including 52.4% Zn Concentrate Grade at 84% Zn Recovery
Preliminary metallurgical test results from the Iberian Belt West project in Spain returned zinc concentrates grading 52.4% Zn at an average zinc recovery of 84%, with La Romanera at 49.3% Zn/85% recovery and La Infanta at 60% Zn/81% recovery. Copper concentrates graded 22.26% Cu at 69.4% recovery (La Romanera) and 24.87% Cu at 51.69% recovery (La Infanta), carrying 1.94 g/t Au and 372.8 g/t Ag, and 7.06 g/t Au and 1,534.6 g/t Ag respectively. Locked cycle tests remain pending.
Study resultsEmerita Resources Announces Non-Brokered Private Placement
Binding subscription agreements have been signed with four investors for a non-brokered private placement of 12,500,000 Units at $0.40 per Unit for gross proceeds of $5,000,000. Each Unit comprises one common share and one warrant exercisable at $0.60 for 36 months after closing, with a four month and one day hold period. Proceeds will fund exploration and development on the company's Spanish properties and working capital, with closing expected on or about April 25, 2024, subject to TSXV approval.
Financing
202227 releases
Emerita Intersects 19.7 Meters Grading 10.9% Zinc, 1.7% Lead and 74.6 G/T Silver at La Romanera Deposit 150 Meters East of Historical Drilling
Four new drill holes at the La Romanera deposit, part of the wholly owned Iberian Belt West project in Spain, returned 19.7 m grading 0.2% Cu, 1.7% Pb, 10.9% Zn, 0.58 g/t Au and 74.6 g/t Ag in hole LR038, including 6.9 m at 18.2% Zn, plus a lower lens of 8.8 m at 0.8% Cu, 1.8% Pb, 9.9% Zn and 66.4 g/t Ag; LR041 cut 18.3 m at 4.6% Zn and 1.70 g/t Au. Drilling will continue into early 2023, with about 60 holes pending assay and initial NI 43-101 resource estimates for La Romanera and La Infanta expected in early Q2 2023.
Drill resultsCourt Date Has Been Scheduled for Aznalcóllar Criminal Trial
The Third Section of the Provincial Court of Seville has set March 3, 2025 as the start date for the criminal trial over alleged crimes in the awarding of the Aznalcóllar tender in Spain, with the oral hearing expected to conclude July 15, 2025 across up to 40 reserved sessions. The 16 defendants face sentences totaling up to 348 years in prison for alleged rigging of the tender, including influence peddling, fraud, embezzlement and bribery. Emerita is consulting Spanish counsel on accelerating the process.
CorporateEmerita Reports Latest Drill Results and Adds 14th Drill Rig at La Romanera
Six new drill holes at the La Romanera deposit on the wholly owned Iberian Belt West project in Spain returned intercepts including 40.7 m grading 0.3% Cu, 0.7% Pb, 0.5% Zn, 1.64 g/t Au and 32.3 g/t Ag in LR006B (including 3.0 m at 6.54 g/t Au), 11.2 m at 0.4% Cu, 1.5% Pb, 4.2% Zn, 0.79 g/t Au and 60.8 g/t Ag in LR025, and 5.3 m at 10.2% Zn in LR030. Thirteen rigs are now delineating La Romanera and one is drilling La Infanta, with two rigs to begin at El Cura after December 1, 2022.
Drill resultsEmerita Announces Drill Results and Increases Number of Drills to 10 Rigs at the Iberia Belt West Project
Drilling at the wholly owned Iberia Belt West project in Spain has been expanded to 10 rigs, with nine at La Romanera and one at La Infanta; 23 holes are complete at La Romanera. Hole LR009 returned 16.5 m grading 0.2% Cu, 3.1% Pb, 3.6% Zn, 2.29 g/t Au and 254.7 g/t Ag from 581.3 m, and LR013 cut 20.6 m of 0.9% Cu, 0.5% Pb, 0.8% Zn, 0.53 g/t Au and 46.9 g/t Ag from 267.0 m. Treasury exceeds $20 million.
Drill resultsEmerita Intersects 19.4 Meters Grading 0.4% Copper, 4.6% Lead, 5.1% Zinc, 2.3 G/T Gold and 204 G/T Silver at La Romanera
Delineation drilling at the La Romanera deposit on the wholly-owned Iberian Belt West project in Spain returned 19.4 meters grading 0.4% copper, 4.6% lead, 5.1% zinc, 2.3 g/t gold and 204.6 g/t silver from 282.6 meters in hole LR008, plus 18.8 meters at 1.4% copper in the Lower Lens. Hole LR011, 200 meters west, cut 13.8 meters at 2.29 g/t gold and 11.4 meters at 3.35 g/t gold and 177.5 g/t silver, intersecting an Upper Lens not recorded in historical data.
Drill resultsEmerita Reports Latest Drill Results From IBW and Extends Mineralization 100 Metres to East at Romanera
Drilling at the Iberian Belt West project in Spain returned 7.0m grading 0.2% copper, 3.9% lead, 4.4% zinc, 2.44 g/t gold and 143.1 g/t silver from 117.7m in La Romanera hole LR005, plus 16.9m at 0.4% copper, 1.0% lead, 2.2% zinc, 2.90 g/t gold and 145.2 g/t silver. Hole LR007, a 100 metre step-out east, cut 7.0m at 0.8% copper, 0.7% lead, 2.9% zinc from 547.0m. At La Infanta, IN054 returned 3.2m grading 1.9% copper, 9.2% lead, 17.1% zinc and 226.3 g/t silver.
Drill resultsEmerita Announces AGM Results
All director nominees listed in the management proxy circular dated June 24, 2022 were elected at Emerita Resources' annual and special shareholders meeting held July 21, 2022, each approved by more than 92% of votes cast. Shareholders also approved the appointment of the Company's auditors and the amended and restated stock option plan.
CorporateEmerita Announces Results of Airborne Survey at Nuevo Tintillo Project, Spain
Fifteen target areas with coincident magnetic anomalies and EM conductors were identified at the 100%-owned Nuevo Tintillo project in Seville province, Spain, including three priority targets coincident with historical workings on the western side of the property. The helicopter-borne time-domain electromagnetic and aeromagnetic survey, flown by New Resolution Geophysics in March 2022, collected 897 line kilometres on 100 m-spaced lines with penetration to about 500 m depth. Geological mapping and ground gravity surveys will precede drill testing targeted for Q4 2022.
Drill resultsEmerita Intersects 2.77 g/t Gold, 65.9 g/t Silver 8.2% Zinc, 3.2% Lead 0.5% Copper Over 24.3 Meters at the Romanera Deposit
Drilling at the Romanera deposit on the wholly-owned Iberia Belt West Project in Spain returned 24.3 m grading 0.5% copper, 3.2% lead, 8.2% zinc, 2.77 g/t gold and 65.9 g/t silver from 280.5 m in hole LR004, and 39.9 m grading 0.5% copper, 3.0% lead, 6.2% zinc, 2.13 g/t gold and 83.1 g/t silver in LR003. LR001, the deepest hole at 530 m, cut 49.6 m of stockwork sulphide. Two parallel massive sulphide lenses are confirmed over 400 m down dip, with six drills operating.
Drill resultsEmerita Engages Integral Wealth as its Market-Maker
Integral Wealth Securities Limited has been retained to provide market-making services for Emerita Resources on the TSX Venture Exchange, trading shares to maintain an orderly market, improve liquidity and provide market intelligence. Integral will receive a cash fee of $6,000 per month for a minimum of three months, after which the Company may terminate the agreement on 30 days' written notice. There are no performance factors, and Integral will receive no shares or options and holds no interest in the Company.
CorporateEmerita Intersects 7.61 g/t Gold, 311.1 g/t Silver, 3.0% Zinc, 2.9% Lead, 0.4% Copper Over 14.3 Meters in First Hole Completed at the Romanera Deposit
Hole LR002, the first drill hole at the Romanera deposit on the wholly-owned Iberia Belt West Project in Spain, returned 14.3 meters grading 7.61 g/t gold, 311.1 g/t silver, 3.0% zinc, 2.9% lead and 0.4% copper from 134.2 meters depth, including 7.8 meters at 9.74 g/t gold, 372.9 g/t silver, 0.7% zinc, 2.7% lead and 0.6% copper. Three further holes have been completed and samples sent to ALS for analysis, with six drills operating at Romanera.
Drill resultsFirst Massive Sulphide Intercept From Romanera Deposit Drill Campaign, Increased to Six Diamond Drills on Romanera
Hole LR 002 at the Romanera deposit on the wholly-owned Iberia Belt West project in Spain intersected 14.3 metres of massive sulphides from 138.2 to 148.5 metres, comprising sphalerite, galena and chalcopyrite in a pyrite gangue, with assays pending. Three further holes are to be completed in coming days and two additional rigs are setting up, bringing the total to six drills at Romanera. The program aims to upgrade the historical resource to NI 43-101 compliance and test expansions east, west and at depth.
Drill resultsCORRECTION -- First Massive Sulphide Intercept From Romanera Deposit Drill Campaign, Increased to Six Diamond Drills on Romanera
Hole LR 002 at the Romanera deposit on the wholly-owned Iberia Belt West project in Spain intersected 14.3 metres of massive sulphides from 134.2 to 148.5 metres, comprising sphalerite, galena and chalcopyrite in a pyrite gangue, with assays pending. Three further holes will be completed in the coming days and two additional rigs are being set up, bringing the total to six drills at Romanera. The program aims to upgrade the historical resource to NI 43-101 compliance and test expansions east, west and at depth.
Drill resultsEmerita Accelerates Diamond Drill Program at Romanera Deposit and Increases Program to 70,000 meters
Permitting for the Romanera and El Cura deposits at the wholly owned Iberia Belt West Project in Spain has been completed, and the company now intends to complete 70,000 meters of diamond drilling before year-end, with six of eight rigs on the property dedicated to Romanera and two continuing at Infanta and El Cura. Drilling will use 50 meter spacing on section with 100 meter step outs, and an inaugural NI 43-101 resource estimate is expected afterward.
Drill resultsEmerita Resources Receives Approval for La Romanera and El Cura Deposit Drilling, Four Diamond Drills Commencing on Romanera
The Regional Government of Andalusia granted Emerita the Unified Environmental Authorization for the La Romanera and El Cura deposits at its wholly-owned Iberia Belt West Project in Spain, fully permitting drilling, which is commencing once set-up is complete. Four diamond drills will begin on La Romanera and one on El Cura, with 50 permitted drill pads at Romanera and an initial phase of at least 15,000 metres. Romanera has a historical estimate of 34 million tonnes grading 0.42% copper, 1.1% lead, 2.3% zinc, 44 g/t silver and 0.8 g/t gold, which is not treated as current.
CorporateEmerita Provides Update on Permitting Process for Romanera and El Cura Deposits
Permitting for diamond drilling at the Romanera and El Cura deposits on the wholly owned Iberia Belt West Project in Huelva, Spain has entered its final stage, with the Environmental Statement resolution issued April 1 and stakeholders given 15 calendar days to review before final endorsement, after which drilling will begin. More than 50 drill sites have been permitted; the company has seven drills on site with one more to arrive, and aims to complete delineation of the three deposits by year-end.
CorporateEmerita Refutes Short Report
A report published by a short seller of Emerita shares is rejected by the Company, which says it contains falsehoods, inaccuracies and misrepresentations about its assets, management and directors intended to drive down the share price. Emerita stands by its public disclosure on its website, on SEDAR and in regulatory filings, and says it remains committed to advancing its mineral assets in Spain and awaits a final resolution of the Aznalcollar tender in its favour.
CorporateEmerita Provides Update on Aznalcollar Legal Case
Court #3 of the Seville Court will hear the final phase of the Aznalcollar criminal trial, with Magistrate Ángel Márquez Romero appointed lead judge among three judges hearing the matter. Emerita's Spanish counsel expects hearings to last approximately 15-20 days, with the date to be announced in the next few weeks. The separate Administrative Court process, which will resolve awarding of the Aznalcollar public tender, has been deliberating about six months; Emerita is the only other qualified bidder.
CorporateEmerita Engages Generation IACP Inc. for Market Making Services
Generation IACP Inc. has been engaged to provide market making services for Emerita Resources Corp. in compliance with TSX Venture Exchange policies, for a fee of C$7,500 plus applicable taxes per month. The agreement runs an initial six-month term with automatic six-month renewals unless either party gives 30 days' written notice, and the fee increases 3.0% annually starting on the first anniversary. No stock options or other compensation are being granted, and Generation is an arm's length party holding no securities of the Company.
CorporateEmerita Provides Update on Permitting Process for Romanera and El Cura Deposits and Operational Update
Permitting for diamond drilling at the Romanera and El Cura deposits on the wholly owned Iberia Belt West Project in Spain is nearing completion, with the 30 business day public comment period ending February 18, 2022 and drilling expected to start in the coming weeks. Five diamond drills continue at Infanta, where two holes at the new Infanta North target intersected massive to stringer sulphide mineralization over at least 300 metres strike and more than 300 metres depth, with assays pending. Helicopter-borne gravity and EM surveying is about to begin at Nuevo Tintillo.
CorporateEmerita Named a Top 10 Mining Company in 2022 TSX Venture 50
Emerita Resources was ranked among the top 10 performing mining stocks in the 2022 TSX Venture 50 for its 2021 performance, based on equally weighted market capitalization growth, share price appreciation and trading volume for the year ended December 31, 2021. The company said drilling at the Romanera and El Cura deposits is expected to begin in the next few weeks and that the Aznalcollar legal dispute is near conclusion.
Corporate