12:27 PM EST, 02/13/2025 (MT Newswires) -- Emerita Resources ( EMOTF ) were at last look up 1.6% on Thursday after the company said exploration drilling intersected 9.3 meters grading 1.1% copper and 1.2 grams per tonne (g/t) of gold along with additional base metal sulfides at the El Cura deposit in Spain.

El Cura is part of Emerita's wholly owned Iberian Belt West project which includes three identified volcanogenic massive sulfide deposits, namely La Romanera, El Cura and La Infanta.

Drill results from El Cura demonstrated that copper-gold rich mineralization continues to occur within wider intervals of polymetallic base metal mineralization at El Cura. Drillhole EC037 intersected 9.3m grading 1.1% copper, 0.7% lead, 2.1% zinc, 1.2 g/t gold and 34.8 g/t silver, including 2.5m grading 1.7% copper, 0.9% lead, 3.8% zinc, 2.0 g/t gold and 47.3g/t silver.

El Cura will include these drill results and several additional holes with pending assays to be included in the forthcoming updated NI 43-101 mineral resource estimate (MRE) for the project.

The company said drilling will continue to follow up the higher-grade thicker portion of the deposit once the database is locked for the MRE.

Emerita President Joaquin Merino said, "The results of the drilling at El Cura deposit should make a significant contribution to the updated MRE we are expecting to complete around the end of Q1, 2025. Samples of El Cura mineralization have already been sent for metallurgical testing and this data will be available for the completion of the MRE as well."

Shares of the company were last seen up $0.04 at $1.93 on the TSX Venture Exchange.

Price: 1.93, Change: +0.04, Percent Change: +2.12