11:48 AM EST, 12/05/2024 (MT Newswires) -- (Updates shares.)

Emerita Resources ( EMOTF ) reported Thursday the latest drill results from the El Cura deposit within its Iberian Belt West project in Spain.

The company said drill results to date are demonstrating that the El Cura deposit is a more copper-gold-silver rich system and lower in zinc and lead than the La Romanera and La Infanta deposits.

Results include 13.15 meters grading 1.1% copper, 1.1% lead, 3.3% zinc, 54.63 grams per tonne (g/t) silver and 2.71 g/t gold in massive sulfides.

"We are encouraged by what we observe at El Cura, notably the high copper and gold grades in comparison to other historic deposits across the Iberian Pyrite Belt," said Joaquin Merino, president of Emerita. "We anticipate promising results to continue as drilling production accelerates."

The company said it is adding a third drill at El Cura, with results to be included in a 43-101 compliant mineral resource estimate expected in early 2025.

Emerita shares were last seen down $0.02 to $0.84 on the TSX Venture Exchange.

Price: 0.84, Change: -0.02, Percent Change: -2.33