VANCOUVER, Dec. 20 /CNW/ - EurOmax Resources Limited (TSX-V: EOX)
("EurOmax") is pleased to announce that drilling in-progress at Ilovitza has
intersected a strong quartz-hematite-sulphide stockwork from 60 metres to the
current bottom of hole at 480 metres. Road construction has been completed
ahead of drilling at the Kazandol oxide-copper project.
John Menzies, Chairman and CEO commented "EurOmax is excited by the drill
core from Ilovitza. The stronger than expected supergene copper zone,
late stage hematite and magnetite alteration and stockworking and
widespread occurrence of copper and molybdenum minerals is particularly
encouraging. It seems that we are in the very centre of this large
copper-gold-moly system. Both the Ilovitza and Kazandol projects have
excellent logistics with road, rail and power in close proximity."
Full Press Release & Map:
Latest Diamond Drillcore Images:
At the Ilovitza property a copper-gold-molybdenum porphyry has been
mapped over an area of about one square kilometre. A variably porphyritic
dacite is intruded by a medium grained granodiorite. Previous drilling had
reported wide intercepts including 393 metres at 0.48% Cu equivalent (0.25% Cu
and 0.36g/t Au) in the eastern half of the property over an area 400 metres by
600 metres. (see attached graphic
The current diamond drillhole is being drilled in the untested western
half of the intrusive complex. The granodiorite which the Company believes to
be in the core of the system was until recently very poorly exposed. Following
construction of a new access road the granodiorite has now been exposed across
a width of 500 metres. In the road cutting the intrusive is strongly altered
with pervasive hematite - unlike the drilled area to the east. This hematite
rich stock shows strong stockworking and correlates with the core of the
strong positive magnetic anomaly and the peak of the copper, gold and
molybdenum soil geochemistry.
Drilling of this target has commenced with a planned 600 metre diamond
drillhole now at 480 metres. The hole has intersected a
quartz-hematite-sulphide stockwork from 60 metres to the bottom of hole with a
vein density ranging from 30 veins per metre to 150 veins per metre. The upper
part of the hole shows strong phyllic alteration grading into intense argillic
alteration at depth with strong magmatic "A veins" apparent from 313 metres.
The copper mineral chalcocite dominates from 107 to 216 metres with
chalcopyrite and molybdenite to the bottom of hole.
EurOmax is exploring the Kazandol property for oxide copper
mineralisation which could be amenable to low cost Solvent Extraction
Electro-winning (SX-EW) technology. The property is close to good
infrastructure and is crossed by a regional electricity transmission line and
bitumen road. Recently reported trench results including 200 metres at 0.32%
copper and 150 metres grading 0.26% copper together with trench data from the
previous operator confirm an outcropping 800 metre by 200 metre zone of oxide
copper mineralisation within a 5 kilometre long copper trend.
Road construction has been completed ahead of a planned 1000 metre
reverse circulation drilling program. Copper minerals outcropping in the new
road cutting extend the known mineralisation 150 metres to the north. No
previous drilling has been conducted on the property.
Latest Project Images
Images from site operations and drill core are updated regularly on the
Click to see images of Diamond Drill core
John Menzies, a qualified person as defined by National Instrument
43-101, supervised the preparation of the information in this release.
Note:. Copper and gold equivalent calculations use metal prices of
USD 1.25/lb copper and USD 550/oz gold. Adjustment factors for differences in
relative metallurgical recoveries for gold and copper have not been be
considered and metallurgical recoveries and net smelter returns are assumed to
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
On Behalf of the Board of Directors
"John C. Menzies"
Chairman and CEO
EurOmax Resources Limited is listed on TSX Venture Exchange Symbol: EOX
For further information:
For further information: Canada: Chris Serin, Chief Financial Officer,
T: (646) 867-3920, North America, firstname.lastname@example.org,
www.euromaxresources.com; Europe: John Menzies, Chairman & CEO, T: (202)
657-5333, North America T: +44 20 3239 9272, UK, T: +41 44 586 11 19, Europe,