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09/12/2011

EurOmax CEO says it has a “substantial inferred resource base” of 5.8Moz gold

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Additional Information
Market: TSX-V
Sector: General Mining - Gold
EPIC: EOX
Latest Price: C$0.23  (9.52% Ascending)
52-week High: C$0.40
52-week Low: C$0.15
Market Cap: C$38.31M
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EurOmax Resources
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.

Full EurOmax Resources profile here
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EurOmax Resources starts 2011 exploration campaigns in southeastern Europe

5th May 2011, 8:38 pm by Deborah Sterescu

EurOmax Resources (CVE:EOX) said Tuesday it has begun its 2011 exploration programs, including drilling and geophysical work, on all  four of its advanced-stage mineral projects in southeastern Europe.

"With funding already in place, EurOmax is in an excellent position to advance its portfolio of potentially world-class projects," said technical advisor, Dr. Quinton Hennigh.

"Our company has initiated work on multiple geophysical programs and on over 10,000 meters of drilling...We anticipate an exciting year with many promising results."

The four projects include the Trun gold property in Bulgaria; the Ilovitza copper-gold porphyry project in Macedonia; KMC in Serbia; and the Breznik gold-silver property in Bulgaria.

At Trun, the company is currently completing 4,000 metres of diamond core holes, which will test for extensions of known mineralized zones, as well as at least six untested gold-in-soil anomalies.

Meanwhile, at Ilovitza, the company has also started a 4,000 metre program, designed to increase the confidence of the current copper-gold resource and expand mineralization, after which an updated NI 43-101 compliant report will be released.

Finally, at KMC, induced polarization and magnetic surveys are slated to begin mid-year to identify copper-gold drill targets for a 2,500 metre program, while EurOmax is already awaiting results from similar surveys at its 19 square kilometre Breznik property.

Gold-silver veins at Breznik host an NI 43-101 compliant inferred resource of 463,000 ounces of contained gold, and 2.1 million ounces of silver.

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