Three more holes from eastern Brazil’s Salobro zinc project have Emerita Resources TSXV:EMO encouraged 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.
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.
This article was posted by Greg Klein - Resource Clips on Thursday, June 7th, 2018 at 9:35 am.