David Gower, CEO and Chairman of Emerita Resources (TSX.V: EMO) (OTCQB: EMOTF), joins us to review the news out to the market on September 19th that announced the granting of exploration permits for the San Antonio and Terranova claims, adjacent to and expanding the footprint of their wholly owned polymetallic Iberian West Project (IBW), located in southern Spain.
These 2 new properties add an additional 181 hectares to Emerita’s wholly owned Iberian Pyrite Belt holdings, taking the Company’s total mineral property holdings in the IBW area to 8,144 hectares. The IBW Project hosts three Volcanogenic Massive Sulphide (VMS) deposits, which comprise NI 43-101 compliant mineral resource estimates from the La Romanera, La Infanta and El Cura deposits.
The San Antonio license is located southwest of the Company’s large claim referred to as the Ontario license and is directly along the geological trend of the IBW Project’s La Romanera deposit. For future reference, these claims, along with those formerly referred to as “Ontario” will be treated as a single exploration project area and referred to as the “San Antonio Project”.
The Terranova license also occurs along this mineralized trend along strike of La Romanera and extends the Company’s mineral property close to the border of Portugal. There are several historic small-scale mines on the Terranova license that were mined up to the mid-20th century; including the Vuelta Falsa Mine and the Trimpancho Mine. Exploration can commence immediately in these newly permitted areas and the Company is developing plans for exploration work on these claims along with the larger San Antonio project.
The company also announced in that same press release from September 19th that Emerita has entered into a letter of intent (“LOI”) with Western Metallica Resources Corp. to acquire 100% ownership of the Nueva Celti Copper Project located 75 km northeast of the city of Seville in the province of Andalusia, Spain; with historic mining operations and situated in the Ossa Morena geological massif.
We discuss all the derisking work going on in the background at the IBW Project, building toward the Pre-Feasibility Study (PFS) for late Q4 of this year, or Q1 of next year, as well as an update on the key environmental permits anticipated to come in over the next couple months.
We wrap up with David summarizing that the Third Section of the Provincial Court of Seville has completed the hearings for the criminal trial on the alleged crimes committed during the process of awarding the Aznalcóllar tender. The hearings commenced on March 3, 2025 and were completed on July 15, 2025. The Trial judges, Angel Márquez Romero (President of the Court), Luis G. de Oro-Pulido Sanz and Carmen Pilar Caracuel Raya, will now prepare their rulings on the criminal allegations. The company is still awaiting further clarity on whether Emerita Resources will be awarded the high-grade polymetallic Aznalcóllar Project later this year, as the only other qualified bidder at the time.
If you have any follow up questions for David regarding Emerita Resources, then email those in to us at either Fleck@kereport.com or Shad@kereport.com.
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