Is Emerita Resources Ready to Unlock Spain's Mineral Wealth? The IBW Project's Bold Pursuit

Emerita Resources' Ambitious Leap Forward: The IBW Project's Path to Exploitation

Emerita Resources Corp. has just achieved a significant milestone in its journey towards securing an exploitation licence for its Iberian Belt West project (IBW). Through its Spanish subsidiary, the company submitted vital documentation to the "Delegación Territorial de Energía y Minas in Huelva province, Junta de Andalucia. " This submission stands as a crucial step toward acquiring the Exploitation Licence.

The Where and the When

The event, announced on December 4, 2023, signifies Emerita's serious endeavor to secure the Exploitation Licence for IBW, a substantial project situated in Spain. The license, when granted, carries a potential 30-year term with provisions for two additional 30-year extensions. Such an extension opens an expansive window for long-term project development and mining operations.

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The Why and the How

Emerita's objective with this pivotal move is to transition from mere exploration to a fully-fledged development company, strategically positioning itself to undertake detailed engineering studies. These studies will be instrumental in advancing the IBW Project, enabling the company to navigate the complex terrain of mining and processing. Joaquin Merino, President of Emerita, emphasizes the significance of this leap, illustrating the company's intention to make a substantial and long-term commitment in Huelva Province.

The Supporting Documentation

The submitted documentation outlines comprehensive technical aspects integral to mining, processing, infrastructure, and environmental restoration at the IBW Project. This detailed dossier, while robust in its technical content, does not presently comply with National Instrument 43-101 (NI 43-101). As such, it refrains from disclosing the economic aspects of the Project at this stage. However, it paves the way for a NI 43-101 compliant economic study slated for the first half of 2024. This forthcoming study is poised to provide insights into the economic viability of the Project, incorporating vital elements such as environmental parameters, engineering specifics, and revised mineral resource estimates based on new drill results.

Closing Note

With meetings held at senior levels of the Government in Huelva Province and enthusiastic support garnered, Emerita looks ahead to transforming the IBW Project into a substantive development. The company's significant progress stands testament to its dedicated efforts in the realm of mineral exploration, reflecting a commitment to responsible and long-term mining practices.

Qualified Oversight

Joaquin Merino, President of Emerita, a Qualified Person as defined by NI 43-101, has meticulously reviewed and approved the scientific and technical information in this monumental move toward IBW's exploitation.

Emerita's Vision

Emerita Resources Corp. focuses on acquiring, exploring, and developing mineral properties in Europe, centering its exploration efforts in Spain. With its technical team based in Sevilla, Spain, and an administrative office in Toronto, Canada, the company remains steadfast in its pursuit of mineral resource excellence in the region.

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