Emerita Resources Corp. announced additional assay results from the ongoing drilling program at La Romanera deposit, part of Emerita?s wholly owned Iberian Belt West project. IBW hosts three previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura.

Results contained in this release are from La Romanera. All deposits are open for expansion. Drilling at La Romanera continues to test the depth extent of the deposit, down-plunge to the west-northwest.

Assay results reported here are for the recently completed drill holes LR158 and LR159. The drill holes used for the Company?s maiden NI 43-101 mineral resource estimate delineated the deposit to a vertical depth of about 450m. Since then, the Company has completed 20 additional drill holes (three more in progress), which have extended the deposit approximately an additional 300 m in depth below the resource estimate.

Drill hole LR158 return no significant results. Hole LR158 was a 100m step-out to the west from the LR155 impact at -430 RL, designed to probe for the western extents of the deposit at mid-levels. However, the hole passed through a 1.6m shear zone indicating the possible offset of the Lower Lens along the western extremity of the deposit at this elevation.

Hole LR159 was designed to probe the down-plunge continuity of the deposit to the west-northwest. Stepping down and to the west of the previously reported LR157 intercept. LR159 cut a 44.1m mineralized interval from 748.05m to 792.15m, grading 0.6% Cu, 0.9% Pb, 0.7% Zn, 0.96 g/t Au and 17.7 g/t Ag in massive sulfide and minor mineralized accessory volcanics.

This intercept includes 10.0 meters grading 1.2% Cu; 1.6% Pb; 0.12 g/t Au and 14.0 g/t and a second including of 10.4 meters grading 0.7% Cu; 0.8% Pb; 1.5% Zn, 1.87 g/t Au and 23.0 g/t. Of the 44.1m interval, 2.9m (6.6%) of the core was unrecovered in a faulted zone and a grade of 0 value has been applied to this interval. True thickness is approximately 80-75% of core width. Drillholes LR163 and LR165 are in progress, and LR161 awaiting assay results, are located below LR159, at a separation of 100 - 150 m. The vertical depth reached in the current campaign is 750m approximately.

The drill campaign is winding down in advance of the Christmas break until mid-late January. Metallurgy Update: The metallurgical test program for La Romanera and La Infanta Deposits is running behind schedule and is now expected to conclude in January 2024. An update with the metallurgist this week indicated that for the stage of the testing completed to date, the results are in line with expectations for other similar deposits being mined in the region.

Final stages of testing related to base metals recovery along with optimizing precious metals recoveries have yet to be completed.