Emerita Resources Awarded 108,877 Euros R&D Grant from Andalusian Government and EU Funding to Advance Metallurgical Innovation for the IBW Project
Emerita secures a non-dilutive R&D grant to advance metallurgical optimization for its IBW project.
Emerita Resources Corp. has secured a €108,877 non-dilutive grant from the Andalusian Business Agency and the European Union. The funding supports a 23-month research and development project titled "IBW-3METAu," which focuses on metallurgical innovation at the company’s Iberian Belt West (IBW) project.
The grant covers 35% of the total eligible budget of €311,077 and is payable upon the completion and justification of eligible activities. The initiative aims to enhance the quality of copper, zinc, and lead concentrates for European smelters while recovering high-purity antimony, which is classified as a Critical Raw Material. This effort aligns with the European Critical Raw Materials Act and seeks to reduce reliance on non-EU refining by establishing a localized value chain.
Emerita Resources Corp. (EMO) has secured an incremental grant, a development anticipated given the company’s ongoing metallurgical testing and the European Union’s broader push for critical raw materials. The funding supports previously announced work on the Albion and CLEVR processing routes, reinforcing management’s strategy to optimize recoveries and reduce operating costs.
The grant provides non-dilutive capital to de-risk the metallurgical flowsheet ahead of the Prefeasibility Study (PFS). It does not materially alter the project's economics or timeline, and no immediate cash flow impact is expected, as payment is contingent on project completion and compliance.
Emerita Resources Corp. (EMO) is an exploration and development company focused on the Iberian Pyrite Belt in Spain. Its flagship asset is the Iberian Belt West (IBW), a wholly-owned property hosting three high-grade polymetallic volcanogenic massive sulfide (VMS) deposits: La Romanera, La Infanta, and El Cura.
The project is in the advanced exploration and development stage, with a NI 43-101 Mineral Resource Estimate completed and a preliminary feasibility study (PFS) underway. Metallurgical testing has demonstrated viable processing routes, including the Albion hydrometallurgical process and the CLEVR pyrometallurgical process, achieving high gold and silver recoveries.
In addition to IBW, the company holds exploration permits for the San Antonio and Nuevo Tintillo projects and is engaged in a legal dispute over the Aznalcóllar project.