New Discovery At The New York Canyon Property

VANCOUVER - Emergent Metals Corp. reported the discovery of a new porphyry and skarn exploration target at its New York Canyon Property, Nevada (NYC). The Discovery is located on Emergent's north block (North Block) of claims - Named the Emma (Emma) exploration target. It is about 1,650 m (5,400 ft) long (north-south) by 1,400 m (4,600 ft) wide (east-west) and is open in all directions.

Emma represents an addition to three known copper porphyry and skarn exploration targets located on Emergent's south block (South Block) of claims at NYC. The South Block, located four miles south of the North Block, hosts the Copper Queen, Longshot Ridge, and Champion exploration targets.

Emma was identified by a combination of rock chip, soil sampling, a UAV orthophoto survey, and a UAV magnetic geophysical survey done by KEX as part of its annual exploration work completed at NYC in 2022. The Company reported significant rock chip samples (greater or equal to 1.00% Cu) from this field work.

Twenty of 41 rock chip samples taken had grades greater than or equal to 1.00% Cu. Three samples had gold grades greater than or equal to 1.00 g/t Au. Fifteen samples had silver grades greater than or equal to 10 g/t Ag. Note that 1.0 ppm Au or Ag equals 1.0 g/t Au or Ag respectively.

Significant soil samples (greater or equal to 500 ppm Cu) from this field work. Seventeen of the 41 soil samples taken had grades greater than equal to 500 ppm Cu. Five samples had grades greater than or equal to 1,000.0 ppm Cu. Four samples had Ag grades greater than or equal to 1.0 g/t silver. Note that 10,000 ppm Cu equals 1.0% Cu.

The geology at the Emma exploration target is similar to the Copper Queen, Longshot Ridge and Champion exploration targets, where copper skarn mineralization is present in Mesozoic limestone, including Luning Formation. Porphyry copper mineralization is also present in igneous intrusive rocks of Cretaceous age. At Emma quartz monzonite, porphyritic quartz monzonite, and quartz eye porphyry have been identified.

David Watkinson, President and CEO, said, "Emergent is extremely excited by KEX's discovery of the Emma target at NYC. The rock chip and soil sampling results, along with alteration mapping and geophysics, indicate potential for a porphyry and skarn deposits to be found on the North Block, which has previously been unexplored. Permitting has been completed to test this target, with diamond core drilling planned in the first quarter of 2023. They also plan to further test the extension of the Copper Queen deposit to the southeast on the South Block, with diamond core drilling also planned in the first quarter of 2023."