Business
Euromax intersects strong quartz-hematite-sulphide stockwork in drilling at Ilovitza
VANCOUVER, Dec. 20 /CNW/ - EurOmax Resources Limited (TSX-V: EOX) ("EurOmax") is pleased to annou...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 20 /CNW/ - EurOmax Resources Limited (TSX-V: EOX)\n("EurOmax") is pleased to announce that drilling in-progress at Ilovitza has\nintersected a strong quartz-hematite-sulphide stockwork from 60 metres to the\ncurrent bottom of hole at 480 metres. Road construction has been completed\nahead of drilling at the Kazandol oxide-copper project.\n\n\nJohn Menzies, Chairman and CEO commented "EurOmax is excited by the drill\n\n\ncore from Ilovitza. The stronger than expected supergene copper zone,\n\n\nlate stage hematite and magnetite alteration and stockworking and\n\n\nwidespread occurrence of copper and molybdenum minerals is particularly\n\n\nencouraging. It seems that we are in the very centre of this large\n\n\ncopper-gold-moly system. Both the Ilovitza and Kazandol projects have\n\n\nexcellent logistics with road, rail and power in close proximity."\n\n\nFull Press Release & Map:\n\n\nhttp://www.euromaxresources.com/news.php?newsid(equal sign)226&\n\n\nLatest Diamond Drillcore Images:\n\n\nhttp://www.euromaxresources.com/index.php?id(equal sign)92\n\n\nIlovitza\n\n\nAt the Ilovitza property a copper-gold-molybdenum porphyry has been\nmapped over an area of about one square kilometre. A variably porphyritic\ndacite is intruded by a medium grained granodiorite. Previous drilling had\nreported wide intercepts including 393 metres at 0.48% Cu equivalent (0.25% Cu\nand 0.36g/t Au) in the eastern half of the property over an area 400 metres by\n600 metres. (see attached graphic\nhttp://www.euromaxresources.com/news.php?newsid(equal sign)226&)\n\n\nThe current diamond drillhole is being drilled in the untested western\nhalf of the intrusive complex. The granodiorite which the Company believes to\nbe in the core of the system was until recently very poorly exposed. Following\nconstruction of a new access road the granodiorite has now been exposed across\na width of 500 metres. In the road cutting the intrusive is strongly altered\nwith pervasive hematite - unlike the drilled area to the east. This hematite\nrich stock shows strong stockworking and correlates with the core of the\nstrong positive magnetic anomaly and the peak of the copper, gold and\nmolybdenum soil geochemistry.\n\n\nDrilling of this target has commenced with a planned 600 metre diamond\ndrillhole now at 480 metres....