Three more holes from eastern Brazil’s Salobro zinc project have Emerita Resources TSXV:EMOencouraged about potential expansion to an historic, non-43-101 Vale NYSE:VALE estimate. The results follow the first two holes, released June 1, of a program that’s expected to sink 23 holes totalling about 3,500 metres. Seventeen holes have been finished so far.
DDH-007 stepped out 100 metres from an historic, non-43-101 interval of 6.09% zinc and 0.73% lead over 10.43 metres. The new intercept hit:
- - 5.7% zinc and 0.84% lead, for 6.54% zinc and lead, over 8 metres, starting at 239.5 metres in downhole depth
- - (including 8.82% zinc and 1.48% lead, for 10.3% zinc and lead, over 4 metres)
Two near-surface holes tested potential for a starter pit in an area where an historic, non-43-101 trench assay showed 1.35% zinc over 22 metres. The new assays show:
- - 4.59% zinc and 0.08% lead, for 4.67% zinc and lead, over 1.5 metres, starting at 65.82 metres
- - 1.52% zinc and 0.01% lead, for 1.53% zinc and lead, over 3 metres, starting at 26 metres
True widths weren’t provided.
Scheduled for Q3 is a resource to update Vale’s now historic, non-43-101 estimate of 8.3 million tonnes averaging 7.12% zinc-equivalent, using a 3.5% zinc-lead cutoff. The campaign will also collect 400 kilograms of material for metallurgical tests.
Last week Emerita released the current program’s first two assays, showing 4.05% zinc and 1.24% lead over 9.62 metres, along with 5.15% zinc and 0.51% lead over 3.32 metres. The company also reported that new assays from Vale core showed consistency with historic results, easing the way to a 43-101 resource.
Emerita has a 75% stake in the 1,210-hectare property, with the remainder held by IMS Engenharia Mineral Ltda. The region’s infrastructure includes paved roads, rail, power and water.
Emerita also shares in a 50/50 joint venture on the Plaza Norte zinc-lead project in northern Spain’s Reocin mining district, where the company has drill permitting underway to update historic work.
In December the company closed an oversubscribed private placement of $4.24 million.