Issued Capital:
43,199,155 common shares
Stock Exchange
TSX Venture Exchange
Symbol: EOX
VANCOUVER, March 23 /CNW/ - EurOmax Resources Limited ("EurOmax") is pleased to update activities at its Peroto project in Bulgaria. Balkans Gold Limited ("Balkans") are earning a 50% interest in Peroto by spending up to US$200,000 for the drilling of two holes.
Peroto is located between the Chelopech and Elatsite copper-gold mines. The Chelopech Mine, Europe's largest producing gold mine, commenced operation in 1959 with production of 13 million tonnes at a grade of 1.1% copper and 3.43 g/t gold recovering 144,000 tonnes of copper and 1.4 million ounces of gold to date. The Elatsite open pit porphyry copper mine has annual production of approximately 10 million tonnes producing 200,000 tonnes of copper concentrate.
The diamond drilling program is currently in progress to evaluate the Vozdol intermediate sulphidation system. The mineralisation is hosted in sediments and underlying metamorphic basement.
Vozdol-1 has been completed to a depth of 450 metres. Vozdol-1 intersected two main mineralised zones. The first is within the upper sediment horizon with intense quartz-sericite alteration over a 29 metres interval from 241 metres to 270 metres. Sulphides, predominantly pyrite with chalcopyrite and galena were encountered over the interval. A second mineralised zone of strong phyllic alteration was intersected within the metamorphic zone over a 24 metres interval from 306 metres to 330 metres. Disseminated sulphides, consisting predominantly of pyrite with chalcopyrite and minor sphalerite and galena were intersected throughout this interval. The results of this hole are pending.
Vozdol-2 is planned to a depth of 700 metres has been temporality suspended at 621.4 metres due to heavy rainfall. A zone of strong adularia-silica alteration overprinted by quartz-carbonate-sulphide veining was intersected in the upper sediment unit over a 212 metre interval from 232 to 444 metres. Within this zone, sulphides predominantly pyrite with chalcopyrite and sphalerite were encountered. The hole is presently suspended in strong phyllic alteration with disseminated pyrite-galena-sphalerite and trace chalcopyrite.
John Menzies, a qualified person as defined by National Instrument 43-101, supervised the preparation of the information in this release.
"John Menzies"
Chairman & CEO
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