According to Joaquin Merino, P.Geo., President and CEO of Emerita: "It is very exciting to see a project such as Las Morras evolving from the presence of gold in overburden to verifying a new discovery of gold in bedrock. It is early in the process, but within a few short weeks we have established significant geochemical anomalies and identified significant gold grades in bedrock. We have not yet completed the geochemical coverage or started the systematic follow up of targets on this Property and we are already identifying gold in bedrock. It is rare to witness the beginning of a completely new green field discovery."
Geochemical Survey Methods
Rock samples locations are determined using GPS (global positioning system) and described before being sent to the laboratory for analysis. All samples are prepared and analyzed at ALS Minerals, an ISO 9001:2000 certified laboratory. Sample preparation takes place at ALS, Seville, Spain, while chemical analysis is executed in ALS, Jud Alba Rosia Montana, Romania. 100% of each the sample received is weighed and crushed to 70% passing 2mm (10 mesh). A sample split of up to 1000g is then pulverized to 85% passing 75 microns (200 mesh) to produce a homogenized sample. A 50g aliquot is used for fire assaying with an atomic absorption (AA) finish to determine gold concentration. If Au returns greater than 10.0ppm, gravimetric (GRA22) methodology is run.
Soil and Heavy Mineral Concentration (HMC) samples are analyzed in the laboratory by the same fire assay (AA) gold concentration techniques as rock samples. Soil samples sent to lab contain approximately 0.5-1kg of material taken by shovel and soil auger from a predetermined grid. The HMC samples are collected from approximately 4-5kg of soil material processed down to approximately 50g, which is sent to ALS Minerals.
Advance Notice Policy
Emerita has adopted a new policy that requires advance notice to Emerita for nominations of directors other than by management, through a requisition for a meeting or by way of a shareholder proposal.
Among other things, the policy fixes a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company for the notice to be in proper written form.
In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting, provided that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the tenth day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
The new policy is intended to: (i) facilitate an orderly and efficient annual general or special meeting process; (ii) ensure that all shareholders receive adequate notice of the director nominations and sufficient information regarding all director nominees; and (iii) allow shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation.
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