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 mineralization below existing resource at Breznik
Vancouver-based EurOmax Resources (CVE:EOX) said Thursday a step out hole on its Breznik gold-silver project in western Bulgaria intersected a vein 80 metres below the existing resource at the site. The results reported today are from the first drill hole that tested the recently-discovered large geophysical anomaly to the south of the current resource. Hole BR-882 intersected 3.03 grams per tonne (g/t) gold, 8.9 g/t silver and 2.01% zinc over a vein interval of 2.6 metres, from a depth of 238 metres down hole, approximately 80 metres deeper than previously intersected veins, the company said. The vertical hole, around 130 metres to the south of the outlined resource, tested an east-west trending magnetic low that measures approximately 1,700 metres by 400 metres. The hole represented the southernmost hole drilled on Breznik, and the encouraging result indicates the potential for further gold-silver miineralization associated with the anomaly, boosting existing resources. "This is a great development for our Breznik property," said senior vice president of exploration, Dimitar Dimitrov. "In seven years, our team in Sofia has advanced Breznik from a grass roots discovery to a sizeable resource, which is moving towards a commercial operation. "We are now in an excellent position to seek a developer to put this deposit into production." In May, EurOmax applied for a "Commercial Discovery Certificate" for the project, which is the first step towards being granted a mining concession. The application, which has already received positive feedback from local and national regulatory agencies, extends over 1.5 square kilometres and covers the NI 43-101 compliant resource as disclosed in March. Approval of the certificate is expected later this year, or early next. Breznik covers a 2 kilometre long, east-west corridor hosting a series of epithermal gold-silver veins. Resources at the site are estimated at 2.44 million tonnes, containing 463,000 ounces of gold, and 2.1 million ounces of silver, at a 2 g/t gold cut-off. The resource lies within 150 metres of surface and average vein width is 2.4 metres.
