Issued Capital:
43,199,155 common shares
Stock Exchange
TSX Venture Exchange
Symbol: EOX
VANCOUVER, May 18 /CNW/ - EurOmax Resources Limited ("EurOmax") is pleased to announce results from diamond drilling completed in 2006 at three prospects on the Trun property in western Bulgaria and the commencement of the 2007 exploration drilling and geophysical program.
The Trun property covers composite granitoid bodies intruded into basalt, sediments, and gneiss with a prominent hornfels zone surrounding the intrusions. The two main batholiths, the Big Hill Granitoid and K-Granitoid, are host to several intrusion-related gold (IRG) systems with widespread gold mineralization.
During 2006 a six-hole diamond drilling program, together with soil geochemistry, trenching and mapping was carried out and core holes were drilled at Nadejda (within the Big Hill Granitoid) and at K2 and Zlata (within the K2 granitoid). The delay in the receipt of these results was due to several factors including the difficulty of cutting the strongly silicified core, requirements for detailed geotechnical logging of whole core, geophysical logging, laboratory availability and external check assaying.
Nadejda Prospect
At Nadejda two diamond drill holes (MTC 615 & MTC 616) were completed for a total of 552 metres. MTC 615 targeted high grade silicified outcrops in trenches T623 and T624 and intersected strongly silicified granodiorite from 17 metres to 237 metres. MTC 615 intersected 80 metres grading 0.61 g/t gold (at a 0.5 g/t gold cut-off grade) from 25 metres. MTC 616 did not encounter any significant intercepts. After further review of the geology and structural data, combined with the sub-surface information from MTC 615 and 616 it is now interpreted that these holes drilled into the footwall of a northwest dipping mineralized system. It is unlikely that either of these holes tested the high grade mineralization seen at surface. The current drilling program will test this reinterpretation with diamond holes drilled to the south-east.
K2 Prospect
Two core drill holes, MTC 611 and MTC 612, totaling 333 m were completed at the K2 prospect. Both holes were targeted to test deeper portions of the intrusion. TC 611 intersected 21 metres grading 0.62 g/t gold from 46 metres (at a 0.5 g/t gold cut-off grade) while grades in TC 612 were below the cut-off grade.
Zlata Prospect
Diamond drillhole MTC 613, with a planned depth of 220 metres, was abandoned at 181.3 metres in previously unmapped workings beneath the Zlata open pit and failed to test the targeted mineralization; however it did intersect 10.8 metres grading 0.97 g/t gold (at a 0.5 g/t gold cut-off grade) from 170.5 metres to the end of hole.
In February, Teck Cominco Limited ("Teck Cominco") notified Euromax that it would exercise its option to proceed with exploration on the Trun property. 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.
Dr Tim Baker, an internationally recognized expert on Intrusion Related
Gold deposits recently visited Trun and commented "the Trun IRG
mineralized system is large with very intense alteration both within the
intrusion and surrounding country rocks and combined is one of the
largest alteration zones in these types of deposits I have seen compared
to Australian and Alaskan systems"
2007 Exploration Program
A 2,800 metre diamond program at Logo and Nadejda is in progress. Additional trenching along the strike of the Logo mineralization will commence shortly. A 30 line kilometer geophysical program consisting of induced polarization, resistivity and magnetics has also commenced.
The 4,000 sample soil geochemical sampling program covering the K2 Granitoid was completed as planned in late 2006 and samples have now been prepared and submitted for assay at American Assay Labs in Sparks Nevada.
Quality control and Quality Assurance
Routine assays are undertaken at Eurotest AD laboratory in Sofia, Bulgaria, an ISO9001 accredited facility. Quality control samples are routinely submitted pursuant to the project quality assurance - quality control protocol and selected duplicates are submitted for quality control to ALS Chemex Laboratories in Vancouver Canada.
John Menzies, a qualified person as defined by National Instrument 43-101, supervised the preparation of the information in this release.
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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or accuracy of this release.