High-Grade Discoveries Expand Resource Potential in Spain's IBW Project
Source: Streetwise Reports 12/06/2024
Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCQB; LLJA:FSE) announced continued success in its drilling campaign at the El Cura deposit, part of the Iberian Belt West (IBW) project in Spain. Find out how recent drill results reveal promising copper, gold, and silver grades, shaping the future of this emerging deposit.
Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCQB; LLJA:FSE) announced continued success in its drilling campaign at the El Cura deposit, part of the Iberian Belt West (IBW) project in Spain. Recent drill results have revealed substantial polymetallic mineralization, particularly highlighting the copper, gold, and silver potential of the El Cura system.
Notable intercepts highlighted below include drill hole EC028, which revealed 13.15 meters grading 1.1% copper, 1.1% lead, 3.3% zinc, 54.63 g/t silver, and 2.71 grams per tonne (g/t) gold, with a higher-grade subinterval of 4.0 meters at 1.7% copper and 3.91 g/t gold. Another significant result was drill hole EC022, intersecting 6.3 meters grading 0.7% copper, 0.2% lead, 0.1% zinc, 29.21 g/t silver, and 1.99 g/t gold, including 1.5 meters grading 1.3% copper and 3.30 g/t gold.
Highlights From The News Release:
- Drillhole EC028 intersected 13.15m grading 1.1% copper, 1.1% lead, 3.3% zinc, 54.63 g/t silver and 2.71 g/t gold including 4m grading 1.7% copper, 0.5% lead, 2.1% zinc, 60.25 g/t silver and 3.91 g/t gold
- Drillhole EC022 intersected 6.3m grading 0.7% copper, 0.2% lead, 0.1% zinc, 29.21 g/t silver and1.99 g/t gold, including 1.5m grading 1.3% copper, 0.2% lead, 0.2% zinc, 42.30 g/t silver and 3.30 g/t gold
- Drillhole EC021 intersected 1.7m grading 0.9% copper, 2.1% lead, 4.0% zinc, 68.35 g/t silver and 2.01 g/t gold
- Drillhole EC023 intersected 2.2m grading 0.9% copper, 0.2% lead, 0.1% zinc, 56.00 g/t silver and 1.84 g/t gold
- Sulphide mineralization at El Cura continues to extend to the west
The El Cura deposit is emerging as a copper-gold-silver-rich system, distinct from other IBW deposits, such as La Romanera and La Infanta, which show higher zinc and lead grades. Current drilling indicates that El Cura’s mineralization remains open at depth and along its plunge, with ongoing efforts aimed at delineating its extent. The results are set to be included in an updated NI 43-101 compliant Mineral Resource Estimate in early 2025.
Joaquin Merino, P.Geo, President of Emerita, noted in the announcement, “These results at El Cura have justified adding a third drill at El Cura. El Cura is particularly promising due to its proximity to potential future mining infrastructure and its high copper and gold grades compared to other historic deposits across the Iberian Pyrite Belt.”
The Strategic Importance of Gold, Silver, and Copper in Modern Technologies
According to Sprott Money on November 28, the latest Commitment of Traders (COT) report revealed pivotal trends in gold and silver futures positions. This report highlighted how the interplay between key market participants—the Bullion Banks and Money Managers—often signals potential price movements. Historically, the Banks, known as the “smart money,” have taken massive net short positions at market peaks and reduced these positions at lows, aligning with subsequent price declines or recoveries. Conversely, the Funds, referred to as “dumb money,” tend to adopt significant net long positions during peaks and reduce them during troughs.
Sprott detailed how, since September 24, the Banks have aggressively cut their net short positions in gold by 27%. This move correlated with a 9% drop in gold prices over two weeks from a peak of US$2802 to US$2542. Simultaneously, the Funds reduced their net long positions by 29% over the same period. This dynamic, coupled with historical patterns, suggested that further reductions by either group could exert additional downward pressure on gold prices. The same trends applied to silver, underscoring the interconnected nature of the metals’ price behavior.
According to SilverWars.com on November 30, silver continued to be identified as an essential material for cutting-edge technologies due to its unparalleled electrical and thermal conductivity, as well as its high reflectivity. A 2023 Hunan Geological Survey described silver as “indispensable,” emphasizing its critical role in modern applications, including national defense and advanced technological solutions.
On December 3, Mining.com discussed the evolving global copper landscape. The report highlighted the material’s widespread applications and significance. Copper was underscored as integral to the automotive sector, which accounted for a substantial portion of US-Canada trade. Benchmark Mineral Intelligence noted that copper’s ubiquity in electrical and industrial uses ensures its importance in global supply chains. The publication referenced potential disruptions from tariffs, which could “support domestic production” and incentivize investment into US capabilities.
On the same date, Grist.com addressed copper’s indispensable role in the energy transition. The site noted that demand for the metal is expected to triple by 2040 due to its use in renewable energy infrastructure, electric vehicles, and energy storage. The article explored advancements in refining low-grade ores through environmentally friendly methods, such as heap leaching and electrochemical reductive leaching, which aimed to reduce pollution and carbon emissions. A Still Bright representative explained, “We’re facing unprecedented demand for copper, and that’s really tied to the electrification of everything.”
Also, in a report dated December 3, Stewart Thomson, writing for 321 Gold, analyzed the cyclical patterns influencing gold prices. He suggested that the U.S. stock market was projected to enter a long-term bear market in 2025, which could impact gold’s performance. Thomson also noted that gold was technically overbought on the weekly chart at the recent high but indicated that this was no longer the case. He proposed that a potential correction could see gold trade down to the support zone of US$2,450–US$2,300 before launching into a subsequent wave higher.
Key Catalysts Driving Resource Expansion at Iberian Belt West
Emerita is advancing its IBW project through strategic developments that include expanded drilling and metallurgical testing. The El Cura deposit has become a focal point due to its potential for high-grade copper-gold-silver mineralization. According to the company’s November 2024 investor presentation, ongoing drilling is expected to refine the deposit’s geometry, supporting its inclusion in the upcoming updated resource estimate slated to be released in early Q1 2025.
The company also benefits from the “Designation of Strategic Interest” status granted by the Andalusian government. This designation expedites permitting processes and provides access to an accelerated task force, reducing administrative hurdles. Additionally, Phase 2 metallurgical testing has demonstrated the potential for high recovery rates of base and precious metals, further validating the economic viability of the IBW project. [OWNERSHIP_CHART-10036]
Emerita’s financing strategy, which includes a US$15 million package secured through Nebari Resources, ensures the continuation of exploration, drilling, and permitting activities without equity dilution. With these advancements, Emerita positions itself to unlock value as it transitions the IBW project from exploration to potential mine development.
Ownership and Share Structure
According to Reuters, Michael Lawrence Guy owns 1.54% of the company, David Patrick Gower owns 1.12%, Joaquin Merino-Marquez owns 0.84%, Catherine Stretch owns 0.65%, and Marilia Bento owns 0.4%.
Reuters reported that institutions own 1.19% of the company, including Merk Investments LLC, with 1.11%.
According to Refinitiv, there are 247.39 million shares outstanding with 234.7 million free float traded shares, while the company has a market cap of CA$202.83 million and trades in a 52-week range of CA$0.38 and CA$0.93.
Sign up for our FREE newsletter at: www.streetwisereports.com/get-news
Important Disclosures:
- Emerita Resources is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
( Companies Mentioned: EMO:TSX.V; EMOTF:OTCQB; LLJA:FSE, )
Source: https://www.streetwisereports.com/article/2024/12/06/high-grade-discoveries-expand-resource-potential-in-spains-ibw-project.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.