Saturday 21st April 2018

Resource Clips



Emerita Resources mobilizes rigs to Brazilian zinc project, plans mid-year resource

by Greg Klein | April 10, 2018

With one or more rigs now en route, Emerita Resources TSXV:EMO has field staff preparing its Salobro zinc project for a 3,500-metre program and a late-Q2 resource estimate. Located in eastern Brazil’s Minas Gerais state, the 1,210-hectare property has an historic, non-43-101 estimate compiled by Vale NYSE:VALE of 8.3 million tonnes averaging 7.12% zinc-equivalent using a 3.5% zinc-lead cutoff.

Emerita Resources mobilizes rigs to Brazilian zinc project, plans mid-year resource

Regional infrastructure includes paved roads,
cell phone service, rail, water and power.

“We see excellent potential to expand the existing resource and the previous work completed by Vale was to a high technical standard, which provides an excellent base from which to accelerate the evaluation of the project,” said Emerita chairperson David Gower.

The company closed its 75% acquisition of Salobro in March, retaining the right to pick up the other 25% from IMS Engenharia Mineral Ltda. Also last month, Emerita filed a 43-101 technical report on the property.

As part of the resource update work, Emerita has assays pending for resampled core from 10 selected historic holes and has relogged 11 holes.

Additionally, an engineering firm has completed a preliminary mine plan for the project. Emerita also has a community engagement proposal under review.

The work comprises part of an ambitious campaign that might reach pre-feasibility as early as next year.

In northern Spain, meanwhile, the company takes part in a 50/50 joint venture on Plaza Norte, another zinc-lead project with substantial historic work and regional infrastructure. Emerita has permitting underway for a drill campaign that could bring a maiden resource early next year.

The company closed an oversubscribed private placement of $4.24 million in December.

Read more about Emerita Resources.

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