Emerita raising $8 million for Spanish metals projects CanadiansInvest
-OTC] said Friday it is raising $8 million via a private placement offering and will use the proceeds to continue exploration and development work on its Spanish base metal properties.
On June 1, 2023, Emerita shares closed at 46.5 cents and currently trade in a 52-week range of $1.73 and 43 cents. Emerita acquired a 100% interest in the Iberia West project via public tender process. The project is hosted within the Iberian Pyrite Belt, one of the world’s most productive volcanogenic massive sulphide tarranes.
The IBW property is estimated to host an indicated resource of 14.07 million tonnes of grade 3.29% zinc, 1.66% lead, 0.46% copper, 75.2 g/t silver and 1.39 g/t gold . On top of that is an inferred resource of 4.71 million tonnes of grade 4.70% zinc, 2.14% lead, 0.54% copper, 72.4 g/t silver and 0.90 g/t gold .
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