David Gower, CEO and Chairman of Emerita Resources (TSX.V: EMO) (OTCQB: EMOTF), joins me for a comprehensive exploration update at their wholly owned polymetallic Iberian West Project (IBW), located in southern Spain.  The IBW Project includes three Volcanogenic Massive Sulfide (VMS) deposits: La Romanera, El Cura and La Infanta. We also get another update on the legal proceedings at the Aznalcóllar Project later in the conversation.

We start off reviewing the assay results from the latest batch of drill results at the El Cura deposit, announced on August 20th.

Recent results from the ongoing drilling campaign at El Cura include:

David outlines that the El Cura deposit has potential to significantly increase IBW resource tonnes with additional high-grade gold and copper mineralization. The Company has approved an additional 10,000 meters of diamond drilling at El Cura due to the results of the program to date which demonstrate the deposit remains open for possible expansion at modest depth. This drilling will focus on converting the previously delineated Inferred Mineral Resource Estimate to an Indicated Mineral Resource Estimate in support of economic studies, as well as extending the lower and western regions of the known resource.

El Cura is located in between La Infanta and La Romanera, but more closely resembles La Romanera metallurgically, returning higher gold values along with the base metals. David walks us through how each of these 3 deposit areas plays into the larger development strategy, where the earlier stage mining decline at La Infanta can now drift through El Cura on the way to the development of La Romanera, bringing in El Cura in as a future economic driver much earlier in the mining sequence.  We discuss all the derisking work going on in the background building toward the Pre-Feasibility Study (PFS) later this year, as well as an update on the environmental permits anticipated to come in over the next couple months.

We wrap up with David summarizing that the Third Section of the Provincial Court of Seville has completed the hearings for the criminal trial on the alleged crimes committed during the process of awarding the Aznalcóllar tender. The hearings commenced on March 3, 2025 and were completed on July 15, 2025. The Trial judges, Angel Márquez Romero (President of the Court), Luis G. de Oro-Pulido Sanz and Carmen Pilar Caracuel Raya, will now prepare their rulings on the criminal allegations. The company is still awaiting further clarity on whether Emerita Resources will be awarded the high-grade polymetallic Aznalcóllar Project later this year, as the only other qualified bidder at the time.

If you have any follow up questions for David regarding Emerita Resources, then email those in to me at  [email protected].

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