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 finds new gold zones with higher grades at Trun, boosts resource potential
EurOmax Resources (CVE:EOX) reported Tuesday the results from the first series of holes drilled this year at its Trun gold project in Bulgaria, encountering new zones of mineralization and adding to the overall potential of the property.
Back in February, the south-eastern Europe-focused junior explorer announced a maiden 2.1 million ounce inferred resource estimate for its Logo gold prospect, located on the north part of the larger 7,500 hectare Trun property.
Today, results from the first set of holes of the 2011 drill program at Trun were reported, with hole MTC1174 hitting 87 metres at 2.14 grams per tonne (g/t) of gold at the Ruy target, including 21 metres at 4.78 g/t gold.
The hole represented the first to test the Ruy 600 by 400 metre gold-in-soil anomaly, with a grade much higher than the one estimated for the resource at the Logo target, of 0.7 g/t gold. This means that the overall resource of Trun stands to receive a meaningful boost.
At Ruy, diamond drill hole MTC1175 also tested the northeast portion of the target, and returned anomalous gold to 90 parts per billion, EurOmax said.
"Initial results from our 2011 drill program at Trun are very encouraging,” said the company's technical advisor, Dr. Quinton Hennigh.
"We are drill testing six robust new gold targets this year and already seeing promising results, especially from the Ruy target.
"Drilling is still underway on additional targets, and we are very optimistic that we will continue to see more positive results from this very large gold project."
Indeed, other encouraging results of the program so far included trench 11117, which exposed a 69 metre wide zone of mineralization, grading 0.99 g/t gold, just 120 metres north of the historic KD open pit, the company said. EurOmax plans to drill test this area further to assess the potential for bulk, disseminated mineralization.
In addition, diamond drill hole MTC1177 tested the northern extension of the historic Zlata deposit at the site, with the hole encountering 19.6 metres at 1.69 g/t gold near surface, again an intercept that warrants further drilling.
The results show that the Trun project has many prospects for mineralization, including at the Yamkite target, a zone parallel to Zlata. At Yamkite, hole MTC1169 returned 10 metres at 1.23 g/t gold, while hole MTC1173 intersected 5.2 metres at 1.72 g/t gold, with additional silver and lead grades.
EurOmax said that additional diamond drill holes on the six new targets are still in progress, but once this is complete, the company plans on testing the extension of the Logo resource and K2 zone, as well as drilling to follow up on the mineralization found thus far. The 2011 program encompasses roughly 4,000 metres of diamond drilling.
Of particular interest, the Logo prospect remains open to the north, east and west, and grades and thickness of the mineralization improve to the north and northeast, meaning there is potential to upgrade the current resource.
EurOmax, which has 100% control of Trun, has been focused on advancing a number of base and precious metal projects in Bulgaria, Serbia and Macedonia.
