BRIEF-Emerita Resources announces strategic JV with Aldesa Group

Thu Mar 17, 2016 8:21am EDT
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March 17 (Reuters) - Emerita Resources Corp :

* Says signing of a letter agreement with respect to a joint venture ( "JV") with Aldesa Group

* Says JV contemplates that each party will own 50% of target projects

* Initial financial contribution by parties used for initial acquisition, resource drilling is expected to be about eur2.5 million

* Emerita resources announces a strategic joint venture with the Aldesa group of companies to develop mining projects in the Iberian peninsula

* JV to form a partnership between two companies to explore and develop mineral resources and reserves in Iberian peninsula Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)