VANCOUVER, Dec. 20 /CNW/ - EurOmax Resources Limited (TSX-V: EOX) ("EurOmax") is pleased to announce that drilling in-progress at Ilovitza has intersected a strong quartz-hematite-sulphide stockwork from 60 metres to the current bottom of hole at 480 metres. Road construction has been completed ahead of drilling at the Kazandol oxide-copper project.
John Menzies, Chairman and CEO commented "EurOmax is excited by the drill
core from Ilovitza. The stronger than expected supergene copper zone,
late stage hematite and magnetite alteration and stockworking and
widespread occurrence of copper and molybdenum minerals is particularly
encouraging. It seems that we are in the very centre of this large
copper-gold-moly system. Both the Ilovitza and Kazandol projects have
excellent logistics with road, rail and power in close proximity."
Full Press Release & Map:
http://www.euromaxresources.com/news.php?newsid(equal sign)226&
Latest Diamond Drillcore Images:
http://www.euromaxresources.com/index.php?id(equal sign)92
Ilovitza
At the Ilovitza property a copper-gold-molybdenum porphyry has been mapped over an area of about one square kilometre. A variably porphyritic dacite is intruded by a medium grained granodiorite. Previous drilling had reported wide intercepts including 393 metres at 0.48% Cu equivalent (0.25% Cu and 0.36g/t Au) in the eastern half of the property over an area 400 metres by 600 metres. (see attached graphic http://www.euromaxresources.com/news.php?newsid(equal sign)226&)
The current diamond drillhole is being drilled in the untested western half of the intrusive complex. The granodiorite which the Company believes to be in the core of the system was until recently very poorly exposed. Following construction of a new access road the granodiorite has now been exposed across a width of 500 metres. In the road cutting the intrusive is strongly altered with pervasive hematite - unlike the drilled area to the east. This hematite rich stock shows strong stockworking and correlates with the core of the strong positive magnetic anomaly and the peak of the copper, gold and molybdenum soil geochemistry.
Drilling of this target has commenced with a planned 600 metre diamond drillhole now at 480 metres. The hole has intersected a quartz-hematite-sulphide stockwork from 60 metres to the bottom of hole with a vein density ranging from 30 veins per metre to 150 veins per metre. The upper part of the hole shows strong phyllic alteration grading into intense argillic alteration at depth with strong magmatic "A veins" apparent from 313 metres. The copper mineral chalcocite dominates from 107 to 216 metres with chalcopyrite and molybdenite to the bottom of hole.
Kazandol
EurOmax is exploring the Kazandol property for oxide copper mineralisation which could be amenable to low cost Solvent Extraction Electro-winning (SX-EW) technology. The property is close to good infrastructure and is crossed by a regional electricity transmission line and bitumen road. Recently reported trench results including 200 metres at 0.32% copper and 150 metres grading 0.26% copper together with trench data from the previous operator confirm an outcropping 800 metre by 200 metre zone of oxide copper mineralisation within a 5 kilometre long copper trend.
Road construction has been completed ahead of a planned 1000 metre reverse circulation drilling program. Copper minerals outcropping in the new road cutting extend the known mineralisation 150 metres to the north. No previous drilling has been conducted on the 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.
Note:. 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%.
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