Business
Peroto project update
Peroto project update.
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n\n\n\nIssued Capital:\n\n\n43,199,155 common shares\n\n\nStock Exchange\n\n\nTSX Venture Exchange\n\n\nSymbol: EOX\n\n\nVANCOUVER, March 23 /CNW/ - EurOmax Resources Limited ("EurOmax") is\npleased to update activities at its Peroto project in Bulgaria. Balkans Gold\nLimited ("Balkans") are earning a 50% interest in Peroto by spending up to\nUS$200,000 for the drilling of two holes.\n\n\nPeroto is located between the Chelopech and Elatsite copper-gold mines.\nThe Chelopech Mine, Europe's largest producing gold mine, commenced operation\nin 1959 with production of 13 million tonnes at a grade of 1.1% copper and\n3.43 g/t gold recovering 144,000 tonnes of copper and 1.4 million ounces of\ngold to date. The Elatsite open pit porphyry copper mine has annual production\nof approximately 10 million tonnes producing 200,000 tonnes of copper\nconcentrate.\n\n\nThe diamond drilling program is currently in progress to evaluate the\nVozdol intermediate sulphidation system. The mineralisation is hosted in\nsediments and underlying metamorphic basement.\n\n\nVozdol-1 has been completed to a depth of 450 metres. Vozdol-1\nintersected two main mineralised zones. The first is within the upper sediment\nhorizon with intense quartz-sericite alteration over a 29 metres interval from\n241 metres to 270 metres. Sulphides, predominantly pyrite with chalcopyrite\nand galena were encountered over the interval. A second mineralised zone of\nstrong phyllic alteration was intersected within the metamorphic zone over a\n24 metres interval from 306 metres to 330 metres. Disseminated sulphides,\nconsisting predominantly of pyrite with chalcopyrite and minor sphalerite and\ngalena were intersected throughout this interval. The results of this hole are\npending.\n\n\nVozdol-2 is planned to a depth of 700 metres has been temporality\nsuspended at 621.4 metres due to heavy rainfall. A zone of strong\nadularia-silica alteration overprinted by quartz-carbonate-sulphide veining\nwas intersected in the upper sediment unit over a 212 metre interval from 232\nto 444 metres. Within this zone, sulphides predominantly pyrite with\nchalcopyrite and sphalerite were encountered. The hole is presently suspended\nin strong phyllic alteration with disseminated pyrite-galena-sphalerite and\ntrace chalcopyrite.\n\n\nJohn Menzies, a qualified person as defin...