January 02, 2025

Emerita Resources – More Metallurgical Testing Shows Enhanced Gold Recoveries At La Romanera, Exploration Update At El Cura, and Development Update At The IBW Project

20 minutes

David Gower, CEO and Chairman of Emerita Resources (TSX.V: EMO – OTC: EMOTF), joins me to provide an update on the continued metallurgical testing beyond even the Phase 2, showing enhanced gold recoveries at La Romanera, along with an exploration and development update at El Cura and other derisking work being conducted to advance the polymetallic Iberian West Project (IBW), located in southern Spain.

We start by discussing the ongoing metallurgical work completed in the Phase 2 testing at the IBW Project, mostly at the Zinc-Copper-Lead-Silver-Gold La Infanta and Romanera deposits. David shares how their approach has optimizing metal recoveries at both areas using separate copper, lead, and zinc concentrates; but also a new 2 phase system really improves the gold recoveries, which would impact future payables in production scenario at La Romanera which has a higher gold credit. The company is also still exploring the viability of a 4th arsenopyrite concentrate circuit at Romanera to capture even higher gold values and payable arsenic credit that would report to this concentrate, but the previously mentioned 2-phase process doesn’t require this.

Next we pivoted over to the exploration and development potential at El Cura , which was not part of the Phase 1 or Phase 2 metallurgical study, but is going through it’s own testing at present. There has also been a continued focus on exploration drilling and expanding the mineralized area so that this 3rd deposit it can be included in the coming updated resource estimate due out in late Q1. David walks us through how each of these 3 deposit areas plays into the larger development strategy where the earlier stage mining at La Infanta can now drift through El Cura on the way to the development of La Romanera, bringing in El Cura as a future economic driver much earlier in the mining sequence now. This will be highlighted in a PFS due out later in 2025.

We wrap up noting the ongoing exploration work at the earlier-stage Nuevo Tintillo Project, and got an update on where things are in the courts, with 3 months until the sentencing portion of the legal proceedings in their initiative to be awarded the high-grade polymetallic Aznalcóllar Project.

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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