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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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Market: TSX-V
Sector: General Mining - Gold
EPIC: EOX
Latest Price: C$0.20  (-4.76% Descending)
52-week High: C$0.40
52-week Low: C$0.15
Market Cap: C$33.32M
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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 discovers new gold zones at Trun in Bulgaria

23rd Aug 2011, 7:57 pm by Brad Lemaire

EurOmax Resources (CVE:EOX) announced Tuesday it discovered new gold mineralization at its 100% controlled, 67-square kilometre Trun gold project in Bulgaria.

Notable results from its ongoing 2011 drill campaign included hole MTC1178, which was drilled to a vertical depth of 445.1 metres on the Tumba target, and found 8.0 metres grading 7.34 grams per tonne (g/t) gold, including 1.2 metres grading 44.1 g/t gold.

Further drilling to confirm the results at this hole, which also returned 9.0 metres of 4.14 g/t gold, is planned.

Hole MTC1180, intended to test the KD zone, was drilled at a 75-degree angle to the west. The diamond drill hole returned 44.8 metres grading 1.32 g/t gold and 4.1 g/t silver, including 3.48 g/t gold and 9.2 g/t silver over 14.6 metres.

This hole was drilled under the previously announced trench 11117, which returned 69 metres grading 0.99 g/t gold and 2.5 g/t silver. Two additional holes, MTC1182 and MTC1184, were drilled along strike of the KD zone and are awaiting results, the company said.

Meanwhile, two step-out holes on the Logo extension tested the northern portion of the resource. Hole MTC1183 returned 55.0 metres grading 0.51 g/t gold, including 6.0 metres grading 1.1 g/t gold.

"The objective of our summer 2011 drill program was to test multiple new targets at Trun and we are very pleased with our results to date," said Dr. Quinton Hennigh, the company's technical advisor.

"Including our results announced earlier this summer from the Ruy and Nadejda targets, combined with the results from the Tumba and KD targets, we are clearly demonstrating the resource potential at Trun.

"We look forward to additional drill programs to fully explore Trun's large and complex gold system."

According to the company, the Trun deposit displays striking similarities to popular gold deposits like the Fort Knox gold deposit in Alaska and the Eagle gold deposit in Dublin Gulch, Yukon.

At its completion, the 2011 drill program will have drilled 4,000 metres of diamond core holes, intended to test the extensions of the Logo resource and the K2 zone, along with at least six previously untested gold-in-soil anomalies.

Geophysical surveys, including magnetics and induced polarization-resistivity, have also been also completed over the southern part of the property, the company said.

The current NI 43-101 compliant resource at the Trun project includes 2.1 million ounces of gold, or 91 million tonnes at 0.7 g/t gold.

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