Emerita Resources

Primary ticker: TSXV:EMO, OTCQB:EMOTF, FSE:LLJA
Stage of development: Development
Primary mineral: Gold, Silver, Copper, Lead, Zinc
Project to promote: Iberian Belt West (IBW) Project
Project location: Spain
Website: www.emeritaresources.com

Emerita is a Canadian mineral resources exploration company dedicated to the acquisition, exploration, research and development of prospective mining properties in the Iberian Pyrite Belt (Spain) with a focus on traditional base metals (zinc, lead and copper) and precious metals (silver and gold).

Emerita holds a 100% interest in the Iberian Belt West (IBW) Project with a 18.8 Mt @ 8.05% ZnEq NI 43-101 compliant mineral resource, with ongoing drilling continuing at our La Romanera deposit as well as a recent new discovery at our El Cura deposit. Our portfolio also contains the highly prospective Nuevo Tintillo project, which has recently commenced drilling. Both our assets are located in the famous Iberian Pyrite Belt in Spain. Emerita is also awaiting a final court decision on the Aznalcóllar mine – one of the largest undeveloped zinc assets in the world – that contains the Los Frailes and Aznalcóllar deposits, both former past producing open pit mines.

Cash: CAD$12M
Debt: NIL

Major shareholders:
Eric Sprott – 8.28%

ASA Gold Precious Metals – 1.11%

Larry Guy – 1.32%

David Gower – 1.12%

Joaquin Merino – 0.84%
Management ownership – 5.37%

Financials

Management Profile

Ian Parkinson – EXECUTIVE VICE PRESIDENT, CORPORATE DEVELOPMENT & CAPITAL MARKETS
Ian Parkinson has spent the past 16 years as a sell-side mining analyst for several leading brokerage firms on Bay Street including Stifel GMP, GMP Securities and CIBC World Markets. He joined the analyst community after a successful 10-year career in industry with Falconbridge and Noranda. During Parkinson’s time in industry he worked on a wide range of exploration, development and commercial interests, which include the Craig and Onaping depth discovery, Raglan mine, Lady Loretta and business development for the zinc business unit at Noranda. He built on his geology base with experience in metals trading, metal marketing and business development at the corporate level. Mr. Parkinson is an earth science graduate of Laurentian University in Sudbury, Ontario, where he was born and raised in a mining family.

What is your rationale for taking part 121 Mining Investment?

Institutional buying, awareness and coverage. Specifically more long term buyers. More market support from institutions. Looking at other strategic opportunities (JV, strategic investment, etc.) Scaling up our Iberian Belt West is continuing so additional buying and coverage would be preferred. Final court decision on the world famous Aznalcollar mine is also expected to conclude.

What recent news would you like to highlight to investors attending?

NI 43-101 Resource Estimate (maiden) was released in Q2 of 2023 for our IBW Project with a reported 14.07 MT Indicated Resource grading 7.63% ZnEq and 4.71 MT Inferred Resource grading 9.29% ZnEq. Because of our recent high-grade discovery at our El Cura deposit within IBW, a 3rd drill rig has been deployed, with an Updated Resource expected to be released as a follow up to our maiden resource. The expected target for the updated resource is late 2024 / early 2025. Nuevo Tintillo has commenced drilling with first pass drilling at western Nuevo Tintillo completed – results are expected in late 2024. Baseline metallurgical results supporting the Mineral Resource Estimate has been released in Q2 2024 with our Phase 2 continuous optimization testing ongoing. Drilling continues at our IBW Project, specifically at our La Romanera project. Aznalcollar trial expected to conclude in March 2025.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Ongoing drilling at IBW, particularly targeting our high grade new discovery at El Cura (an added 3rd rig has been deployed), with metallurgical improvements ongoing.

6 Months:

Drilling at Nuevo Tintillo with expected results in addition to on-going drilling at IBW, with an updated Mineral Resource to follow suit that will include the new discovery at El Cura.

12 Months:

Updated Resource for Iberian Belt West project and Aznalcollar court case initiating in March 2025.

What do you think makes your company such a compelling investment?

NI 43-101 Resource Estimate (maiden) was released in Q2 of 2023 for our IBW Project with a reported 14.07 MT Indicated Resource grading 7.63% ZnEq and 4.71 MT Inferred Resource grading 9.29% ZnEq. An updated resource is expected in the near-term to supplement this maiden resource that will include recent drilling at La Romanera and El Cura. Drilling and initial exploration has begun at Nuevo Tintillo, with drill results expected in late 2024. The prospective Nuevo Tintillo project is adjacent to the historical Rio Tinto mine. Aznalcollar dispute is expected to be settled in mid-2025. This former producing mine is the largest undeveloped zinc deposit in the world that originally contained a 73 and 91 million tonne reserve.

What are the top 3 key investor takeaways?

1.NI 43-101 Resource Estimate (maiden) was released in Q2 of 2023 for our IBW Project with a reported 14.07 MT Indicated Resource grading 7.63% ZnEq and 4.71 MT Inferred Resource grading 9.29% ZnEq. A updated resource is expected to follow suit in the near term that will include our new high-grade discovery at El Cura and recent drilling at La Romanera.

2. Drilling is on-going and initial exploration is expected to be released shortly at our prospective Nuevo Tintillo project that is adjacent to the historical Rio Tinto mine.

3. Aznalcollar dispute is expected to be settled in mid-2025. The largest undeveloped Zinc Deposit in the world that originally contained a 73 and 91 million tonne reserve.