www.euromaxresources.com
EUROMAX RESOURCES LIMITED is a Canadian company focused on gold and copper exploration in the resource rich region of Bulgaria, Macedonia and Serbia. Our technical excellence, local expertise and international contacts have made us one of the most successful exploration companies in Southeastern Europe.
Our aim is to explore high-quality, potentially world class gold and copper systems, then partner with local or international companies that have the financial and technical resources to develop them, thereby generating long-term value for EurOmax shareholders.
EurOmax expands resource at Ilovitza copper-gold project in Macedonia
EurOmax Resources (CVE:EOX) (PINK SHEETS: EOXFF) announced results from the Ilovitza copper-gold project in Macedonia, with all holes encountering significant mineralization.
The company, which is focused in exploring southeastern Europe, drilled seven holes totaling 3,400 metres in 2010, which were designed to expand the existing 303 million tonne resource, grading 0.23% copper and 0.31g/t gold. Six of the holes were drilled to the north of existing resource, while one was drilled to the eastern side.
"In 2010, we successfully vectored in on what appears to be the higher grade core of the system at Ilovitza and have now expanded its footprint by nearly double. These holes will enable us to calculate a new NI43-101 compliant resource," said technical advisor to the company, Dr. Quinton Hennigh.
Highlights of the results include drill hole EOIC-10-18, which intercepted 336.5 meters at 0.30% copper and 0.37 g/t gold, including 166.5 meters at 0.36% copper and 0.46 grams g/t gold.
One hundred meters north of EOIC-10-18, hole EOIC-10-16 intercepted 503 meters at 0.20% copper and 0.24 g/t gold, including 137 meters at 0.28% copper and 0.34 g/t gold beginning at surface.
With the addition of the seven drill holes, the company said that the area underlain by copper-gold mineralization measures approximately 1 km north-south and 700 meters east-west. Mineralization also remains open in all directions, EurOmax added.
Ilovitza is a tertiary copper-gold porphyry system, part of a province of such deposits in Macedonia and Greece that includes the 4 million ounce gold-800,000 tonne copper Skouries deposit in Greece. EurOmax holds an option on Ilovitza, as well as a 4 sq km area surrounding the property, from a major international mining company, it said.
