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VANCOUVER, Feb. 13 /CNW/ - EurOmax Resources Limited (TSX-V: EOX) ("EurOmax") is pleased to announce that joint venture partner Teck Cominco Limited has approved the Phase 1 2008 exploration program for Trun. The planned program will include 4,000 metres of reverse circulation and 1000 metres of diamond drilling plus 20 line kilometres of geophysics (IP, resistivity and magnetics).
Two large Intrusion Related Gold systems are being explored at Trun: Big Hill and K2.
Big Hill Intrusion
At Big Hill a 4,200 sample soil geochemistry program defined numerous high order anomalies within and around the 2 by 4 kilometre intrusion. Drilling of geochemical targets in 2007 produced encouraging results at the Logo prospect, including:
- 138 metres grading 0.8 g/t gold including 41 metres grading 1.6 g/t gold to bottom of hole TC 726, - 120 metres grading 0.6 g/t gold including 16 metres grading 1.8 g/t gold and 15 metres grading 0.1% WO(3) in TC 719, - 17 metres grading 0.3% WO(3) in TC 722 and - 90 metres grading 0.5 g/t gold, 42 metres grading 0.1% WO(3) and 50 metres grading 0.1% WO(3) in TC 725.
Trenching along the western side of the intrusion at the 744 prospect has reported 20.5 metres grading 4.3 g/t Au, including 10.2 metres grading 8.3 g/t Au.
A 30 line kilometre geophysical program completed in 2007 defined a 600 metres by 1500 metres zone of low resistivity and weak chargeability at Logo consistent with the drill results. This geophysical target is significantly larger than the drilled area and open at depth.
At Big Hill West a very strong sub-horizontal resistivity feature with moderate chargeability and with a coincident high order geochemical anomaly covers an area of 2 kilometres by 1 kilometre. This feature is modeled as a 2000 metre by 1000 metre massive silica zone at the top of an unexposed intrusion at shallow depth. This geophysical anomaly correlates well with the geological and geochemical results and appears to be related to the highest grade outcrops.
The planned program at Big Hill will include diamond and reverse circulation drillholes to further define the Logo mineralisation and to test the 744 and Nadejda high grade gold targets and the large Big Hill West geophysical feature.
K2 Intrusion
Exploration at K2 has focused on a well mineralised intrusion covering 4 kilometres by 2 kilometres. There are widespread ancient workings and two large open pits from modern times. At the K2 intrusion in 2004-5 EurOmax trenching encountered results including:
- 40 metres of 4.3g/t gold and 257g/t silver; - 10 metres of 6.2g/t gold and 32g/t silver; - 24 metres of 3.56g/t gold and 18.5 g/t silver; - 9.5 metres of 4.82g/t gold; 22.4 metres of 4.2g/t gold, and, - 27 metres of 2.97g/t gold.
Follow-up drilling reported results including 108 metres at 0.8 g/t gold and 18 metres of 1 g/t gold and 163 g/t silver.
The planned program at K2 will include 20 line kilometres of geophysics (IP, resistivity and magnetics) and drilling of geochemical targets.
Teck Cominco Limited ("Teck Cominco") has the option to earn a 55% interest in the Trun property by spending C$3 million over 4 years. Upon Teck Cominco earning its initial 55% interest, it has the option to increase its interest to 70% by spending an additional C$10 million on the property.
John Menzies, Chairman and CEO of EurOmax commented, "This is going to be
an exciting year for us at Trun. By far the most interesting target is
Big Hill West. It is a large geophysical feature with very high
resistivity and coincident geochemistry. It is potentially the source of
the high grade gold mineralisation at Nadejda and 744 and the wide gold-
tungsten stockwork at Logo. We are very pleased to have Teck Cominco as a
partner - they have brought great value to the exploration of this
property."
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/index.php?id(equal sign)92)
Qualified Person
John Menzies, a qualified person as defined by National Instrument 43-101, supervised the preparation of the information in this release.
Quality control and Quality Assurance
Trench and drillhole assaying was done at the Eurotest AD laboratory in Sofia, Bulgaria, an ISO9001 accredited facility. Reported soil geochemistry was undertaken at a similarly accredited laboratory, American Assay Laboratories in Sparks, Nevada. Quality control samples, standards and blanks, were routinely submitted with drillhole samples. Gold was assayed by a 50 gram fire assay with an AAS finish while other elements were assayed by acid digest-ICPMS.
Investor Relations Contract
EurOmax, subject to regulatory approval has entered into an investor relations contract with Dynamic Communications Inc.("Dynamic"). Under this contract Dynamic will be paid a monthly retainer of $2,000 and issued 150,000 stock options with a term of 2 years and exercisable at $0.32 per share.
Stock Options
EurOmax. Subject to regulatory approval has issued 637,500 stock options pursuant to the Company's stock option plan exercisable at $0.36 per share with a term of five years to directors, officers and employees.
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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