EMERITA RESOURCES INCREASES THE LAS MORRAS PROJECT LAND HOLDING SIX- FOLD, EXTREMADURA REGION, SPAIN
TORONTO, February 19th, 2014 – Emerita Resources Corp. (TSX-V: EMO) (the “Company” or “Emerita”) has received notice from the Extremadura Regional authorities that tenements it had applied for in the Las Morras Project area in the Extremadura Region have been granted and final publication in the regional and national gazette is expected in the next few weeks. Once notice appears in the gazette the Company will have three years in which to work the claims, prior to applying for renewal.
The Company was originally attracted to the area on reports of significant, discrete accumulations of gold nuggets being found by local prospectors in recent years (Figure 1).
Figure 1: Las Morras Project Geology and Land Tenure with the original license area in red and new tenements in blue.
Emerita has been exploring in the area since early 2013 and during the past year has undertaken a number of field exploration programs (see press releases dated February 7, 2013, April 8, 2013, August 29, 2013 and December 19, 2013). During the 2013 program the Company’s geologists demonstrated that gold anomalies extended beyond the limits of the existing claim boundary and became aware of other locations in the area where numerous gold nuggets have been identified. As a result, the Company submitted applications for the additional blocks totalling 38,030 hectares. This contiguous block of Exploration Licenses (Permiso de Investigacion P.I) represents a six fold increase in the land holding for Emerita from 6,816 hectares to 44,846 hectares (Table 1).
The underlying geology of the Las Morras project comprises Pre-Cambrian metasedimentary rocks that are structurally juxtaposed against younger Palaeozoic metasedimentary rocks. Gold anomalies appear to be associated with shear zones within the Precambrian rocks and Company geologists are exploring the Las Morras area for primary gold deposits similar to those that exist elsewhere in Spain within similar geological and structural settings.
Emerita’s President and CEO, Joaquin Merino (P.Geo.), commenting on the approvals said “the increased land position at Las Morras reflects the outcome of initial field programs that have demonstrated that the gold anomalies are much more extensive than originally understood. The area is unexplored in the context of modern, systematic exploration and we are very encouraged by the results to date. There are several newly identified areas within the land package that host an abundance of nuggets and fine gold in soil that will be followed up with systematic geochemical surveys. Drill permits are being applied for on the original claims.”
|Tenement Name||Area (Hectares)|
|Las Morras||6,816||Granted 17/04/2012|
|Las Matillas||8,464||New Permit|
|La Manchuela||8,036||New Permit|
|El Alandre||8,719||New Permit|
Table 1 Las Morras Tenement Summary
The scientific and technical information in this release has been reviewed and approved by Mr. Joaquin Merino, P.Geo, President and CEO of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. Field work at the Las Morras Property is being conducted under the direct supervision of Mr. Merino.
About Emerita Gold Corp.
Emerita is a natural resource company engaged in the acquisition, exploration and development of mineral properties in Spain, with a primary focus on exploring the Las Morras Property in the Extremedura Region of Spain.
Emerita Gold Corp.
President & CEO
For further information, contact:
+ 1 416 309 2139 (Toronto)
+34 (628) 1754 66 (Spain)
Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding exploration prospects and proposed work programs and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Emerita, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Emerita has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Emerita does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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