Emerita Resources Corp. highly prospective for major Gold discovery at Las Morras Gold Property, SW Spain


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TSX.V:EMO
02/04/2014 [ACCESSWIRE]

Emerita Resources Corp. (TSX VENTURE:EMO) is the subject of a Mining MarketWatch Journal Review offering insight and opportunity afforded investors. EMO.V is advancing its 100%-owned 6,816.12 hectare Las Morras Gold Property in the mining-friendly Extremadura region of SW Spain, a prolific region with long history of gold production extending over 2000 years to the Roman Empire. Emerita Resources is ripe for a major Gold discovery at Las Morras. The Company is NOW zeroing in on areas that should produce the best gold rich drill results on targets that could potentially reward shareholders with returns on the order of magnitude that only exploration mining can offer.
 
The full Mining Journal review may be found  at http://miningmarketwatch.net/emo.htm online.
 
All the hallmarks of significant gold potential & never previously systematically explored prior to EMO.V:

Over the last year EMO.V has identified two major target areas that warrant the Company's full attention; the 'Northwest' & 'Central Target' areas are both ~2 km X 2 km, located 3 km apart. Both target areas have highly anomalous gold in soil, coincident with impressive gold finds at/near surface, and favorable geophysical surveys where results are interpreted to represent shear zones (important structural features often associated with economically viable gold mineralization). The property was acquired by EMO.V after investigating reports of spectacular Gold finds by local prospectors. Mapping and prospecting by EMO.V revealed scores of ancient workings on the property and identified gold in bedrock; rock chip samples with values up to 9.82 g/t gold have been sampled in the Central Target Area over 800 m long and open to the east. Geological mapping by EMO.V has located a wide shear zone hosting abundant veins extending several hundreds of meters near surface across the Northwest Target Area. Quartz vein samples from the area contain visible gold in sub-outcrops -- EMO.V has uncovered large swaths of ground, hosting quartz veins that pinches and swells along the way, and many samples contained anywhere from a few grams to multi-grams of gold.  
 
Several quartz float samples were tested from the waste piles of several of the numerous ancient artisanal workings found on the property and results showed many carry gold, the workings are typically hand excavated pits and shallow trenches into the shallow quartz-laden bedrock. The area has never previously had systematic modern exploration until EMO.V began less than a year ago. The results from mapping, prospecting, geophysics, and geochemical surveys conducted during 2013 indicate that Emerita Resources appears to be onto something big at Las Morras. Based on the very rough-angular texture of the many of nuggets found (many found sitting right above the quartz vein) it is interpreted that the nuggets have not moved far (no apparent transient glaciation effect) and probably reside near/above their origin having eroded in place.
 
Very Low Frequency (VLF), Induced Polarization (IP) and Electrical Resistivity Tomagraphy (ERT) surveys affirm EMO.V appears to be zeroing in on a potential gold discovery of significance. The shear zone system is interpreted to represent a possible source of the gold found in the area and will be the focus for follow up trenching, which is expected to lead to drilling. The geochemical and geophysical anomalies are open along their strike, particularly to the east. The extent of the anomalous body in the Central target area, based on the geochemical and geophysical results, is 1,200 meters long, 90 meters wide with an extension to a depth of at least 120 meters based on the IP/ERT corresponding to the bottom of the geophysical profiles. In the Northwestern target area the anomalous body is 600 meters long, 80 meters wide and continues to a depth of 100 meters, corresponding to the bottom of the geophysical profiles.
 
EMO.V, with 35.8 million shares outstanding (39.5M fully diluted), has a tight share structure and presents an exceptional risk-reward scenario. EMO.V is an exciting exploration play and it is advisable for investors to add EMO.V to their watch-list(s) as the Company appears undervalued, with a market cap under $5 million, yet fully-funded to perform trenching and other exploration efforts this 2014 (last known cash position was $1.7 million entering Q4 2013) to further refine its targets to drill-ready status on a project that exhibits all the right ingredients for success.
 
The full Mining Journal review may be found at http://miningmarketwatch.net/emo.htm online.
 
This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).
 
Contact information:
James O'Rourke, Editor in chief

Mining MarketWatch Journal
editor@miningmarketwatch.net

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