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EurOmax commences Ilovitza geophysical survey
VANCOUVER, July 24 /CNW/ - EurOmax Resources Limited (TSX-V: EOX) is pleased to announce that a 3...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\nVANCOUVER, July 24 /CNW/ - EurOmax Resources Limited (TSX-V: EOX) is\npleased to announce that a 30 line kilometre geophysical program has commenced\nat Ilovitza in Macedonia. EurOmax recently announced a 43-101 Mineral Resource\nestimate at Ilovitza of 303 million tonnes grading 0.23% copper, 0.31 grams\nper tonne gold and 0.005% molybdenum. This resource contains 1.6 billion\npounds of copper, 2.9 million ounces of gold and 3.5 million pounds of\nmolybdenum.\n\n\nThe geophysical program will include IP, resistivity and ground\nmagnetics.\n\n\n"This will be the first IP/resistivity survey undertaken over the\n\n\nIlovitza porphyry. The program will cover the entire intrusive complex\n\n\nwith 12, 200 metre spaced lines. It will target the untested magnetic and\n\n\ngeochemical anomaly and the extensive silica-alunite lithocap along the\n\n\neastern and southern edges of the intrusion which remains largely\n\n\nuntested in the subsurface. All data will be modeled in 3D to better\n\n\ndefine drillhole targets. Further diamond drilling is scheduled after\n\n\ncompletion of the survey", commented John Menzies Chairman and CEO of\n\n\nEurOmax.\n\n\nRecent incorporation of all Ilovitza exploration data into 3D modeling\nsoftware has highlighted the area to the north-west of the Ilovitza resource\nas having potential for additional tonnage and higher average grades. A strong\nmagnetic anomaly in this area remains untested. Diamond drillholes suggest\nthat grades increase towards this anomaly and the only drill hole to be\ndrilled towards this target, PD 0607, intersected the highest grades of any\ndrillhole at Ilovitza and intersected potassic alteration towards the bottom\nof hole. A review of surface geochemistry shows that highest copper in soil\noccurs downslope of this feature. Images from this modeling can be seen at\nwww.euromaxresources.com\n\n\nAbout the Ilovitza Project\n\n\nAt Ilovitza, EurOmax is exploring a newly discovered\ncopper-gold-molybdenum system more than 1.2 kilometres in diameter. Ilovitza\nis one of several porphyry systems of eastern Macedonia and northern Greece\nassociated with exposed magmatic complexes. Typical of these deposits is the\nSkouries deposit in Greece which hosts reserves of 146 million tonnes at 0.54%\ncopper and 0.83 grams per tonne gold for 4 million ounces of gold and 800...