EurOmax Discovers New Gold Zones at Trun Drilling Encounters 87 Meters at 2.14 Grams per Tonne Gold at the Ruy Target
Drilling Encounters 87 Meters at 2.14 Grams per Tonne Gold at the Ruy Target
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/14/11 -- EurOmax Resources Ltd. (TSX VENTURE: EOX)(PINK SHEETS: EOXFF) ('EurOmax' or, the 'Company') is pleased to announce results from the first series of holes from the 2011 Drill Program at its 100% controlled Trun Gold Project, Bulgaria. Results include 87 meters at 2.14 grams per tonne gold (285 feet at 0.063 oz per ton gold) in diamond drill hole MTC1174, the first hole to test the Ruy target, a 600 x 400 meter gold-in-soil anomaly.
'Initial results from our 2011 Drill Program at Trun are very encouraging,' comments Dr. Quinton Hennigh, technical advisor to the Company. 'We are drill testing six robust new gold targets this year and already seeing promising results, especially from the Ruy target. Drilling is still underway on additional targets, and we are very optimistic that we will continue to see more positive results from this very large gold project.'
-- At the Ruy Target, diamond drill hole MTC1174, drilled at an azimuth of
285 degrees true north and a -70 degree inclination, encountered 87
meters at 2.14 grams per tonne gold (285 feet at 0.063 oz per ton gold)
including 21 meters at 4.78 grams per tonne gold (69 feet at 0.14 oz per
ton gold) in a broad quartz stockwork zone in granite. Further drilling
is planned to evaluate this zone and its geometry.
-- Trench 11117, oriented east-west, exposed a 69 meter wide zone of quartz
stockwork grading 0.99 grams per tonne gold (226 feet at 0.029 oz per
ton gold) approximately 120 meters north of the historic KD open pit.
This result is highly encouraging and indicates drill testing is needed
to evaluate the potential for bulk, disseminated mineralization in this
area.
-- Diamond drill hole MTC1177, drilled at an azimuth of 90 degrees true
north and a -55 degree inclination, tested the northern extension of the
historic Zlata deposit. This hole encountered 19.6 meters at 1.69 grams
per tonne gold (64.3 feet at 0.049 oz per ton gold) near surface.
Although the true width of this zone cannot be determined from this one
hole, the nature of this intercept suggests further drilling is
warranted to test for bulk, disseminated mineralization in this area.
-- Two of four holes successfully tested the Yamkite target, a structural
zone paralleling the Zlata deposit. Diamond drill hole MTC1169
intersected 10 meters at 1.23 grams per tonne gold (33 feet at 0.036 oz
per ton gold) and hole MTC1173 intersected 5.2 meters at 1.72 grams gold
per tonne (17 feet at 0.05 oz per ton gold). Appreciable silver and lead
accompany the gold intercept in MTC1173.
-- Results are pending for diamond drill hole MTC1176 which tested the
Nadejda structural zone. Visible gold was observed in the core.
-- Diamond drill hole MTC1178, testing the Trumba stockwork zone, is in
progress.
-- Additional drilling will test extensions of the Logo resource and K2
zone once testing of the six new targets is complete. EurOmax intends to
conduct additional drilling later in 2011 to follow up on significant
mineralization encountered in this first phase of the program.
-- Diamond drill hole MTC1175, testing the NE Ruy target encountered
anomalous gold to 90 parts per billion. Hole MTC1170, testing the Big
Hill South target, encountered no significant mineralization.
Summary of Trun Drill and Trench Results
----------------------------------------------------------------------------
Gold Silver Gold Silver
(grams (grams (oz (oz
From To Length per per Pb Length per per
(m) (m) (m) tonne) tonne) (%) (feet) tonne) tonne)
----------------------------------------------------------------------------
Ruy Target
Hole MTC1174 2.0 89.0 87.0 2.14 NA NA 285.4 0.062 NA
including 15.0 36.0 21.0 4.78 NA NA 68.9 0.140 NA
----------------------------------------------------------------------------
Ruy NE Target
Hole MTC1175 anomalous gold
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Zlata Zone
Hole MTC1177 50.9 70.5 19.6 1.69 NA NA 64.3 0.049 NA
including 50.9 54.6 3.7 6.18 NA NA 12.1 0.180 NA
----------------------------------------------------------------------------
Yamkite Target
Hole MTC1169 117.0 127.0 10.0 1.23 NA NA 32.8 0.036 NA
encountered
Hole MTC1171 historic workings
failed to reach
Hole MTC1172 target
Hole MTC1173 145.8 151.0 5.2 1.72 13.67 5.18 17.1 0.050 0.399
including 145.8 146.5 0.7 9.49 69.00 31.20 2.3 0.277 2.015
----------------------------------------------------------------------------
Big Hill South
no significant
Hole MTC1170 results
----------------------------------------------------------------------------
KD Zone
Trench 11117 36.0 105.0 69.0 0.99 2.50 NA 226.3 0.029 0.073
including 80.0 105.0 25.0 2.16 1.60 NA 82.0 0.063 0.047
----------------------------------------------------------------------------
Nadejda Target
awaiting assays - visible gold
Hole MTC1176 observed in core
----------------------------------------------------------------------------
Trumba Target
Hole MTC1178 in progress
----------------------------------------------------------------------------
Weighted averages are used to calculate all reported intervals.
About the Trun Gold Project, Bulgaria
Gold mineralization at Trun is associated with large granite and syenite stocks that intrude a broad anticline of metamorphic rocks. The geologic setting and styles of mineralization display striking similarities to that of certain gold deposits in the Tintina Gold Belt of the Yukon and Alaska including the Ft. Knox gold deposit, Alaska and the Eagle gold deposit, Dublin Gulch, Yukon.
EurOmax holds 100% control over approximately 67 square kilometers centered on the Big Hill and Little Hill granite intrusions, each with multiple associated gold-in-soil anomalies. The Logo resource, a NI 43-101 compliant inferred resource of 2.1 million ounces contained gold in 91 million tonnes at a grade of 0.70g/t Au (0.3g/t Au cut-off) occurs along the northeastern margin of the Big Hill Intrusion in the northern part of the property.
The 2011 Drill Program encompasses approximately 4,000 meters of diamond core drill holes that test extensions of the Logo resource and the K2 zone along with at least six untested gold-in-soil anomalies. In addition to drilling, geophysical surveys have commenced including magnetics and induced polarization-resistivity over the Little Hill intrusion in the southern part of the property.
Quality Control and Quality Assurance
Drill core was logged, cut and sampled by EurOmax personnel at the Company's sample preparation facility in Bulgaria. Samples were prepared and assayed by SGS Chelopech Laboratory in Bulgaria. SGS Chelopech follows SGS Global methods and procedures and has stringent quality control and assurance practices. Quality control samples, including duplicates, standards and blanks, were submitted by EurOmax. Gold was assayed by a 50 gram fire assay with an AAS finish; silver and lead were assayed by ICP-OES following an aqua regia digest. Overlimit silver and lead assays were reassayed by AAS.
Roger Moss, Ph.D., P.Geo., a member of the EurOmax Technical Advisory Board and a 'qualified person' as defined by NI43-101, supervised the preparation of the technical information contained in this news release.
About EurOmax Resources Ltd.
EurOmax is a Canadian company focused on precious and base metal projects in Southeastern Europe. Our strength is our local staff, knowledge and technical expertise in Bulgaria, Serbia and Macedonia.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, resource estimates, metallurgical testing, geophysical and geochemical surveys, drilling and geological interpretations. Forward looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements, and readers are encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading 'Operational and Other Business Risks'. These documents describe the material factors and assumptions that were applied in drawing the conclusions and making the forecasts and projections as reflected in the forward-looking statements and information, and the material factors that could cause our actual results, performance or achievements to differ materially. We undertake no obligation to update or revise any forward-looking statements or information made in this news release.
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Contacts:
San Diego Torrey Hills Capital
(858) 456-7300
www.torreyhillscapital.com
EurOmax Resources Ltd.
Mark Gustafson
President & CEO
(604) 454-8677
markg@euromaxresources.com
www.EurOmaxResources.com