Emerita Resources has assays pending from another 15 holes so far on its current drill campaign.
While a rig remains busy, new assays from old core show consistency with historic results, bringing Emerita Resources TSXV:EMO closer to a 43-101 resource on its Salobro zinc project in eastern Brazil.
The company sent 1,184 duplicate core samples from historic Vale NYSE:VALEdrilling to the lab, where 55 samples with intervals grading over 1% zinc were considered for statistical purposes.
Compared with Vale’s data, the new assays demonstrate that “the previous historic results are consistent, unbiased and meet the QA/QC requirements to support a mineral resource estimate to NI 43-101 standards,” Emerita stated.
The results provide “a powerful advantage for the project that saves the company considerable time, money and effort,” commented chairperson David Gower. “The project has an abundance of high-quality historic drilling data that allows us to expedite the program as we develop the Salobro project further.”
At a 3.5% zinc-lead cutoff, Vale’s historic, non-43-101 estimate showed 8.3 million tonnes averaging 7.12% zinc-equivalent. Hoping to expand those numbers in a 43-101 resource planned for Q3, Emerita has so far completed 17 holes totalling 2,740 metres of an anticipated 23-hole, 3,500-metre program. Last week the company released results from the campaign’s first two holes:
- - 4.05% zinc and 1.24% lead for 5.29% zinc plus lead over 9.62 metres, starting at 257.9 metres in downhole depth
- - (including 9.74% zinc and 3.66% lead for 13.4% zinc plus lead over 2.72 metres)
- - 5.15% zinc and 0.51% lead for 5.66% zinc plus lead over 3.32 metres, starting at 108.38 metres
True widths weren’t provided. The program will also extract 400 kilograms of material for metallurgical tests.
Emerita closed its 75% acquisition of the 1,210-hectare property last March, retaining the right to pick up the other 25%. Regional infrastructure features paved roads, rail, power and water.
In northern Spain’s Reocín mining district the company has drill permitting underway for Plaza Norte, a zinc-lead 50/50 joint venture that also features considerable historic work and regional infrastructure.
Emerita closed an oversubscribed $4.24-million private placement in December.