Mining Co. Reports More Good Drill Results in Spain

“It certainly appears that Romanera could prove to be a significant precious metals deposit,” noted a Research Capital Corp. report.

Of the three drill holes Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCMKTS; LLJ:FSE) just reported from the Romanera polymetallic deposit at its IBW project, two “look very good” and are base metal dominant, reported Research Capital Corp. analyst Adam Schatzker in a September 15 ,2022 research note.

“In general, the holes appear to be in line with historical results and drilling carried out by Emerita in 2022,” Schatzker wrote.

Research Capital has a Speculative Buy rating and a CA$3.75 per share target price on Emerita, the current share price of which is about CA$0.80.





The analyst summarized the findings with each hole.

He described hole LR014 as the best of the trio and standing out for containing greater base than precious metal values. The intercepts began at about 450m downhole, the deepest holes ever drilled at the project, and thus, show the deposit is present at depth. Highlight intercepts include:

  • Upper lens: 15.1 meters (15.1m) grading 0.3% copper, 1.3% lead, 6.6% zinc, 0.13 grams per ton (0.13 g/t) gold, 61.1 g/t silver (precious metals account for 20% of the contained value, according to Research Capital)
  • Lower lens: 6.1m grading 0.3% copper, 2.1% lead, 10.1% zinc, 0.68 g/t gold, 98.4 g/t silver (precious metals account for 26%)

Hole LR017 encountered mineralization 60m east of LR014’s intercepts. Intercepts in LR017 are “significantly thinner than the average 11.8m intercept drilled by Emerita in 2022,” Schatzker noted. Highlight intercepts include:

  • Upper lens: 2.2m grading 0.3% copper, 3.5% lead, 8.3% zinc, 0.13 g/t gold, 27.5 g/t silver (precious metals account for 8.6%)
  • Lower lens: 1.7m grading 6.4% copper, 0.2% lead, 1% zinc, 0.06 g/t gold, 18.7 g/t silver (precious metals account for 3.5%)

Unlike LR014 and LR017, hole LR012, drilled in the deposit’s center, returned precious metals-laden intercepts, the percentages of contained value of which are higher than the averages of Emerita’s drilling (49%) and historical drilling (53.3%). Highlight intercepts include:

  • Upper lens: 16.6m grading 0.3% copper, 1.4% lead, 1.7% zinc, 2.31 g/t gold, 96.8 g/t silver (precious metals account for 69% of the contained value)
  • Lower lens: 6.5m grading 0.3% copper, 0.1% lead, 0.1% zinc, 1.66 g/t gold, 65 g/t silver (precious metals account for 85%)

We continue to be impressed by the drill results at Romanera,” wrote Schatzker. “It certainly appears that Romanera could prove to be a significant precious metals deposit.”

Research Capital has a Speculative Buy rating and a CA$3.75 per share target price on Emerita, the current share price of which is about CA$0.80.

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1) Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

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Disclosures For Research Capital Corp., Emerita Resources Corp., September 15, 2022

Analyst Certification: I, Adam Schatzker, certify the views expressed in this report were formed by my review of relevant company data and industry investigation, and accurately reflect my opinion about the investment merits of the securities mentioned in the report. I also certify that my compensation is not related to specific recommendations or views expressed in this report. Research Capital Corporation publishes research and investment recommendations for the use of its clients. Information regarding our categories of recommendations, quarterly summaries of the percentage of our recommendations which fall into each category and our policies regarding the release of our research reports is available at or may be requested by contacting the analyst. Each analyst of Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst’s personal views and (ii) no part of the research analyst’s compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.

Adam Schatzker has visited Emerita Resources Corp. in the past 18 months.

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