VANCOUVER, Dec. 7 /CNW/ - EurOmax Resources Limited (TSX-V: EOX) ("EurOmax") is pleased to announce that the Company's first diamond drillhole at Rudnitza intersected 152 metres of 0.60% copper equivalent or 0.95 g/t gold equivalent (0.40% copper and 0.38g/t gold) from 120 metres.
Based upon this and previous drilling the mineralised Rudnitza Cu-Au porphyry has now been mapped over an area of 700 metres by 250 metres but has been tested with only four diamond drillholes.
John Menzies, Chairman and CEO commented "EurOmax is excited by these
initial results. According to a study done by the United States
Geological Survey, the grades in this hole are similar to those in many
well known historic North American porphyry copper operations such as the
Brenda, Highmont, Huckelberry, Lornex and Valley Copper mines in Canada.
The grades are considerably higher than the Elasite, Assarel and Medet
mines in Bulgaria; the Veliki Krivelj mine in Serbia and the Buchim mine
in Macedonia. Importantly the mineralisation is situated along the crest
of a ridge in close proximity to power, water and transport, adjacent to
an abandoned lead-zinc mill and tailings dams and in a jurisdiction
favourable to the development of natural resource projects."
Diamond drillhole, EORC 07-01 intersected a continuous zone from surface to final depth of quartz and sulphide stockwork and breccia in strongly altered porphyritic andesite and granodiorite. EORC 07-01 was terminated in siliceous and sulphidic altered granodiorite. The most intense quartz-sulphide stockwork veining commenced at surface and extended to 335 metres with vein density locally exceeding 100 veins per metre and averaging 50-60 veins per metre. Disseminated pyrite, chalcocite and minor chalcopyrite are widespread below the base of oxidation.
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Rudnitsa Diamond Drillhole - EORC 708 Intercepts
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Intercepts
Drill From To Length Cu Au Cu Eq. Au Eq.
Hole No. (m) (m) (m) (%) (g/t) (%) (g/t) Notes
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EORC 708 0 73.4 73.4 0.11 0.49 0.42 0.66 oxide gold/
copper
120.2 320.0 199.8 0.27 0.36 0.50 0.79 0.2 g/t Au
120.2 272.5 152.3 0.33 0.39 0.60 0.95 0.1% Cu
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Copper and gold equivalent calculations use metal prices of USD 1.25/lb
copper and USD 550/oz gold. Adjustment factors for differences in
relative metallurgical recoveries for gold and copper have not been be
considered and metallurgical recoveries and net smelter returns are
assumed to be 100%.
Following completion of drilling at Ceovishte (see below) additional diamond drillholes are planned along the strike of the mineralised porphyry system.
Ceovishte
Four diamond drillholes have been completed at Ceovishte. All four holes were drilled in an 800 metre diameter andesitic diatreme breccia with strong alteration and high sulphidation pyritic vuggy silica overprinted by a wide base metal rich low sulphidation vein stockwork. Results are pending. Additional drilling is planned in the Central Ridge area where strongly altered andesitic volcanics and intrusives have been extensively mined in ancient times. No previous drilling has been conducted in the area.
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)
Quality control and Quality Assurance
Diamond drillhole samples are cut and crushed at a sample preparation facility in Serbia overseen by EurOmax personnel. Routine assays are undertaken at Eurotest AD laboratory in Sofia, Bulgaria, an ISO9001 accredited facility. Quality control samples, standards and blanks, are routinely submitted. Gold is assayed by a 50 gram fire assay with an AAS finish while copper is assayed by acid digest-ICPMS.
Qualified Person
John Menzies, a qualified person as defined by National Instrument 43-101, supervised the preparation of the information in this release.
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
EurOmax Resources Limited is listed on TSX Venture Exchange Symbol: EOX