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EurOmax Bulgarian Project update
EurOmax Bulgarian Project update
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\nOct. 20, 2009 (Canada NewsWire Group) -- VANCOUVER, Oct. 20 /CNW/ -- EurOmax Resources Limited (TSX-V: EOX) (\"EurOmax\") is pleased to announce that it will have four diamond drill rigs operating on gold targets in Bulgaria and Serbia. The Serbian activities were the subject of a news release dated October 19, 2009.BreznikThe acquisition of Thrace Resources EOOD from International Resource Holdings Ltd (IRH) has now been completed. In 2007, IRH engaged Ravensgate Pty. Ltd. an Australian independent consulting and resource modeling firm to calculate resources for the Breznik project using open pit mining methods. Ravensgate estimated and categorized the resources using JORC (similar to 43-101 guidelines). The in-situ resource using a cut-off grade of 0.05 grams per tonne gold was indicated resources of 1,079,000 tonnes grading 2.01 grams per tonne gold and 6.05 grams per tonne silver and inferred resources of 689,000 tonnes grading 1.79 grams per tonne gold and 5.66 grams per tonne silver. This resource was calculated only for the main vein over a strike length of 800 metres to a depth of approximately 100 metres. The resource is open at depth over the full strike of the area drilled and along strike to the north-west. Mineralization has been mapped over a strike of more than 3 kilometres as confirmed by ancient open pits, adits and soil geochemistry. Many of the more than 100 drillholes reported high grade (3.5 grams per tonne to 54.1 grams per tonne gold) intercepts. EurOmax is now evaluating the potential of this deposit for exploitation of the higher grade material with a low impact underground mining operation.A three hole diamond drillhole program has commenced. Two of the drillholes will be drilled to 100 metres to obtain diamond drill-core for metallurgical testing in preparation for early production. Testing conducted in 2007 reported recoveries of up to 86% and 91% for gold and silver respectively in a flotation concentrate. The third diamond drillhole is planned to test all four mineralized veins to a depth of 300 metres more than 100 metres below the level of previous drilling on the main vein.TrunTrenching and mapping at Trun where previous geochemistry and subsequent drilling had reported wide low grade gold intercepts has continued in 2009. Excavation of a trench along a roadside has returned 27 metres at ...