VANCOUVER, Oct. 22 /CNW/ - EurOmax Resources Limited (TSX-V: EOX) ("EurOmax") is pleased to announce results from diamond drilling and geophysical programs at the Trun property in Bulgaria. Drilling at Logo encountered a 180 metre thick stockwork zone with gold and tungsten mineralisation 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 .3% WO(3) in TC 722 - 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 at the 744 Prospect along the western side of the Big Hill intrusion has returned:
- 20.5 metres grading 4.3 g/t Au, including 10.2 metres grading
8.3 g/t Au.
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Table of Logo Gold and Tungsten Drill Results
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Drill hole From To Length Au, WO(3)
No. (m) (m) (m) (g/t) (%)
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TC 717 20.8 22.3 1.5 5.80
TC 718 28 34.1 6.1 7.84
80.1 106 25.9 0.60
TC 719 0 12.2 12.2 0.98
44 164.7 120.7 0.63
incl. 124.4 140.7 16.3 1.83
142.5 158.0 15.5 0.09
TC 720 0 20.7 20.7 0.61
125 143.8 18.8 0.37
TC 722 24.3 32 7.7 0.57
66.6 104.2 37.6 0.46
94.0 111.3 17.3 0.32
96.0 107.5 11.5 0.48
TC 723 22.6 102 79.4 0.37
incl. 118.4 140.4 22.0 0.08
TC 724 0 18.5 18.5 0.73
156.6 197.5 40.9 0.40
156.6 203.5 46.9 0.09
197.5 203.5 6.0 0.29
TC 725 17 46.4 29.4 0.24
54.8 145.3 90.5 0.47
0.0 42.0 42.0 0.14
Incl. 10.6 25.0 14.4 0.24
95.0 145.3 50.3 0.08
TC 726 82.5 220.9 138.4 0.79
incl. 178 219.5 41.5 1.64
TC 727 0 13.2 13.2 0.38
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The geophysical program has defined a broad zone of low resistivity and weak chargeability at Logo consistent with the drill results but covering an area of 600 metres by 1500 metres and open at depth. At Big Hill a 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 massive silica zone at the top of an unexposed intrusion at shallow depth.
Logo
Eleven diamond drill holes were targeted on a 1,200 metre by 500 metre gold and tungsten soil anomaly (see attached map). The anomaly is truncated by post-mineral limestone to the north, south and east. Diamond drilling has tested only the northern portion of the anomaly and intersected a 180 metre thick, shallowly dipping, low sulphide content quartz-carbonate vein stockwork along the contact of a shallowly dipping granite. The stockwork zone is interpreted to continue down dip and along strike below younger cover.
After receipt of assays it has become clear that the best tungsten mineralisation occurs on the contact with the underlying granite with a gold stockwork zone above and partially overlapping it. Only drill holes TC 720 and TC 722 were drilled to the contact.
744 Prospect
A trenching program along the western side of the Big Hill intrusion has commenced to test a 1000 metre by 300 metre strong gold soil anomaly. The 42 metre long T774 trench returned an intercept of 20.5 metres grading 4.3 g/t Au, including 1.2 metres grading 8.3 g/t Au.
Toomba
Diamond drill hole TC 728 was completed to 283 metres. The hole intersected strongly altered quartz-sulfide stockwork and breccia zones in the intervals of 84-113 metres; 127-148 metres; 163-177 metres and 192-301 metres. Gold results were low.
Nadejda
Drill hole TC 729 was completed to 229 metres and was drilled towards the southern end of the Nadejda mapped mineralisation. TC 729 intersected strongly altered granite with minor sulphides with low gold grades. The high grade results previously reported from trenching remain to be drill tested due to terrain and access issues.
Geophysics
A 30 line km IP, resistivity and magnetic survey was completed and preliminary results are encouraging defining two large anomalies related to known gold and gold and tungsten mineralisation.
At Logo a low resistivity - weakly chargeable zone 600 metres wide and 1,500 long above a more resistive intrusive coincides with the Logo mineralised stockwork. The geophysical target dips at 20 degrees to the east, is open at depth and is obscured by younger cover to the north, east and south.
Within the Big Hill intrusion a strong sub-horizontal resistivity feature (+4000 - 5000 ohmm) which is moderately chargeable covers an area of 2 kilometres by 1 kilometre. This feature is persistent on several lines and does not outcrop but is in good correlation with strong gold soil anomalies. The higher gold grades around the periphery of the Big Hill feature including Nadejda and the 744 Prospect could be interpreted as narrow silica lenses above a more massive silica body.
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, "These results are
significant and test only the central portion of the geochemical
anomalies at Logo. The geophysics at Logo correlates well with drill
results and surface geochemistry suggesting mineralisation extends well
beyond the drilled area. The Big Hill geophysical target is very large,
correlates well with geology and geochemistry and appears to be related
to the highest grade outcrops. We are looking forward to further drilling
in the 2008 field season."
Tungsten Uses and Price
Tungsten is a whitish-gray metal with many unique properties and a wide variety of commercial, industrial, and military applications. The leading use is as tungsten carbide in cemented carbides, which are wear-resistant materials used by the construction, metalworking, mining, and oil and gas drilling industries.
Ammonium paratungstate (APT) is the most widely traded primary tungsten material, and as a result, its price has become a reference price for tungsten ore concentrates. Tungsten prices are quoted per metric tonne unit ("MTU" - 10 kilograms) of contained tungsten trioxide (WO3). Tungsten prices are currently strong and have remained over $US 220/MTU (USD 22/kg) for APT (ammonium paratungstate) throughout 2007. Material with a grade of 0.1% WO3 contains 0.1 MTU.
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. Gold is assayed by a 50 gram fire assay while tungsten is assayed by fusion - ICPMS. Duplicates and 1/4 core were submitted to ALS Chemex for check assay.
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