09:28 AM EDT, 07/03/2024 (MT Newswires) -- Emerita Resources ( EMOTF ) , down more than 7% yesterday, on Wednesday said it intersected additional "significant" mineralization in drilling at El Cura deposit area, part of the Iberian Belt West project (IBW) in southern Spain.

IBW has three Volcanogenic Massive Sulfide (VMS) deposits: La Infanta, La Romanera and El Cura. All three deposits are open for expansion along strike and at depth.

Key highlights include drill Hole EC014 which intersected 11.4 m of massive sulfide. Assay results are pending. This is the deepest and thickest intercept to date on El Cura area at 350 m vertical depth, Emerita said. The zone remains open at depth.

The company last week said it has added a second drill rig and plans an additional 15 drill holes to delineate the new El Cura mineralization.