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 Resources announces over 98% concentrate recovery at Trun project
EurOmax Resources (CVE:EOX) announced Thursday that preliminary metallurgical tests at its wholly owned Trun gold
project in Bulgaria found gold recoveries of at least 98% into concentrate.
The Vancouver, B.C.-based company said testing on core samples from the Logo resource at Trun showed gold recoveries of at least 98% into concentrate.
Tank leach tests also produced gold extraction of 92%, EurOmax said, indicating that the gold mineralization is not refractory, or resistant to heat.
EurOmax technical advisor Dr. Quinton Hennigh commented: "Although preliminary, these metallurgical results are very
encouraging. Granite-associated gold systems often have very positive metallurgical characteristics, and Trun appears to follow this behaviour."
"In fact, such extremely high recovery of gold into a flotation concentrate is exceptional among most gold deposits."
The company said it is also encouraged by several drill results on the Logo zone, where hole MTC1188 intersected 40.6 metres grading 1.02 grams per tonne (g/t) gold and 4.1 g/t silver, including 14 metres at 1.28 g/t gold and 4.0 g/t silver.
Results from drilling on the KD zone have extended the near-surface mineralization to the south, and have increased the overall strike length to 520 metres there, EurOmax said.
Assays at the KD zone returned 30.3 metres grading 0.31 g/t gold and 2.1 g/t silver, including nine metres at 0.59 g/t gold and 2.3 g/t silver, in hole MTC1184.
Hole MTC1186 intersected 31.6 metres at 0.99 g/t gold and 14.4 g/t silver, including 5.6 metres at 2.46 g/t gold and 18.3 g/t silver.
Meanwhile, hole MTC1187 found 24.5 metres at 0.54 g/t gold and 81.8 g/t silver. Assays from this hole also returned 9.9 metres at 1.77 g/t gold and 6.7 g/t silver, including 3.65 g/t gold and 15.1 g/t silver over 3.5 metres.
"Prior to this summer's drilling program, the Logo resource was the only significant gold zone recognized on this very large property," Hennigh continued.
"In four short months, we have identified at least five additional robust gold exploration zones. Our revised drill plans will now follow up on these new discoveries and will hopefully demonstrate the world class nature of the Trun gold system."
EurOmax also said it decided to follow-up on several targets, given their successful results.
Additional drilling at the Ruy target has commenced, after 2.14 grams per tonne (g/t) gold were intersected over 87 metres. Drilling will continue later this year at the Nadejda target, which EurOmax intersected 24 metres of 7.36 g/t gold.
Drilling on the Logo resource is also encouraging, the company said.
Currently, the company said it has completed about 5,200 metres of core drilling at the Trun property, and expects to complete a total of 10,000 metres by the year's end.
EurOmax shares shed 10.64% today, to trade at $0.21 as of 11:01 am EDT.
