Emerita Resources (EMO.V) after the close Wednesday said it was been granted a renewal permit, or investigation permit, for the Nuevo Tintillo property that consists of 227 mining claims comprising 6,874.2 hectares in the Iberian Pyrite Belt in Spain's Seville Province.
The company said the investigation permit is granted for a period of three years and may be renewed for additional terms prior to the expiry of each three-year period subject to satisfying the requisite regulatory conditions for an extension.
Emerita said it plans a systematic exploration program that is expected to include detailed geophysical ground surveys, and geological mapping to refine the targets for a future diamond drill program.
Additionally, Emerita announced that, effective immediately, David Patterson has been appointed as an independent director to the board of directors. Patterson is a seasoned mining and capital markets executive with over 30 years of experience in the financing, administration, and advancement of publicly listed mineral exploration and development companies across North America, the company said.
He replaced Michael Jones who has resigned from the board.
Company's shares closed up $0.02 at $0.35 on the TSX Venture Exchange on Wednesday.