47,222,487 common shares
TSX Venture Exchange
VANCOUVER, Aug. 20 /CNW/ - EurOmax Resources Limited ("EurOmax") is
pleased to announce that drilling has commenced at Rudnitza in Serbia to test
a copper-gold porphyry.
The first diamond drillhole, EORC 07-01, will be drilled near PDRC 04-03
which was previously reported intersecting 144 metres of 0.62% copper
equivalent(1) or 1.06 g/t gold equivalent(1) (0.40% copper and 0.38g/t gold)
from the base of oxidation to total depth of 244 metres. This hole terminated
in mineralisation. EORC 07-01 will be drilled with a different orientation to
better intersect the dominant vein trends.
The Rudnitza copper-gold porphyry consists of a large iron oxide, quartz
vein stockwork zone outcropping over an area of approximately 400 metre by 300
metres. There are widespread ancient workings in this area most of which
remain untested. The quartz stockwork, with vein density greater than 30 veins
per metre, is developed within a quartz-magnetite alteration zone. This is
surrounded by a larger argillic and advanced argillic alteration zone.
After completion of the drilling at Rudnitza the rig will be moved to the
Ceovishte licence to commence a five hole program. Four holes will target a
one square kilometre area of ancient mine working at Ceovishte. The Ceovishte
target is an undrilled high sulphidation system with strong gold and base
metal soil and rock chip geochemistry. Sampling of material from ancient mine
dumps by a previous operator(2) returned strong multi-element geochemistry
with up to 0.3% copper, 2.3% zinc, 6% lead, 196 g/t silver and 2.4 g/t gold.
Assay of smelter slag from the area reports 10.7% lead and 102 g/t silver. A
previously untested silica breccia, 8 kilometres to the south of the Ceovishte
HS System which is at least 200 metres in diameter will also be drill tested.
(1) Copper and gold equivalent calculations use metal prices of
USD 1.25/lb copper and USD 450/oz gold. Adjustment factors for
differences in relative metallurgical recoveries for gold and copper
have not been considered and metallurgical recoveries and net smelter
returns are assumed to be 100%.
(2) The Company believes results reported by the previous operator of the
licence are reliable using industry standard quality controls and a
John Menzies, a qualified person as defined by National Instrument
43-101, supervised the preparation of the information in this release.
Chairman & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: John Menzies, E: firstname.lastname@example.org,
Tel: (604) 669-5999