EurOmax expands porphyry copper-gold zone at Ilovitza project in Macedonia
Mon Jun 16, 11:09 AMVANCOUVER, June 16 /CNW/ - EurOmax Resources Limited (TSX-V: EOX.V) is pleased to announce drilling results from three diamond drillholes at the Ilovitza copper-gold-molybdenum project in Macedonia including 412 metres at 0.51% copper equivalent. Drilling has now defined a 600 metres by 650 metres mineralized intrusive which remains open to the north, east and south.
John Menzies, Chairman and CEO commented, "EurOmax is excited by these
results as they extend the limits, confirm the geometry and grade
continuity of the granodiorite intrusion. A geophysical program is now
planned to focus on potential zones of higher grade within and adjacent
to main intrusion and beneath the lithocap and breccias to the east and
south which remain untested at depth. Ilovitza is situated along the
crest of a ridge, is close to sealed roads and 20 kilometres from rail,
80 kilometres by rail to a deep water port and 350 kilometres by rail to
a smelter."
At Ilovitza a copper-gold-molybdenum porphyry has been mapped over an area of more than one square kilometre where a variably porphyritic dacite is intruded by a medium grained, strongly altered granodiorite. Alteration is predominantly phyllic with potassic alteration at depth in several holes. Vein densities average approximately 40 veins per meter but are locally greater than 150 veins per metre. Chalcocite dominates to around 200 metres vertical depth with chalcopyrite and molybdenum to the bottom of most drill-holes.
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Diamond Drillhole Results - Ilovica
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Oxide Gold Intercepts
Drill Depth from to interval Gold
Hole ID (m) (m) (m) (m) (g/t)
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EOIC 812 680 0 49 49 0.22
EOIC 811 519 0 52 52 0.37
EOIC 710 480 4 108 104 0.24
Primary Copper-Gold-Moly Intercepts
Drill from to interval Cu Au Mo CuEq
Hole ID (m) (m) (m) (%) (g/t) (%) (%)
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EOIC 812 49 465 416 0.24 0.28 0.005 0.51
EOIC 811 52 519 467 0.20 0.27 0.004 0.43
EOIC 710 108 480 372 0.20 0.22 0.006 0.45
EurOmax has commissioned Broad Oak Associates of Toronto, Ontario, Canada to prepare a preliminary NI 43-101 compliant resource calculation. This report is expected to be completed in the next month.
Latest Project Images
Images from site operations and drill core are updated regularly on the EurOmax website.
Click to see images of Diamond Drill core www.euromaxresources.com
Quality control and Quality Assurance
Diamond drillhole samples are cut and crushed at a sample preparation facility in Macedonia overseen by EurOmax personnel. Routine assays are undertaken at Eurotest AD laboratory in Sofia, Bulgaria, an ISO9001 accredited facility. Quality control samples, standards and blanks, are routinely submitted. Gold is assayed by a 50 gram fire assay with an AAS finish while copper is assayed by acid digest-ICPMS.
Qualified Person
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. No adjustment has been made for metallurgical recoveries and net smelter returns both of which are assumed to be 100%.
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
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EurOmax Resources Limited is listed on TSX Venture Exchange Symbol: EOX
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Contacts www.euromaxresources.com Investor Relations: David Stothard
T: (347) 284-0062
d.stothart@euromaxresources.com
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