EurOmax Resources Limited announced results for 3 drill holes from the 2011 diamond drill program at its Ilovitza Copper and Gold Porphyry Project in Macedonia. Results include 187 meters at 0.29% copper and 0.46 grams per tonne gold in hole EOIC-1123 and 187.4 meters at 0.23% copper and 0.39 grams per tonne gold in hole EOIC-1125. All three holes were drilled on the eastern side of the deposit where it remains open.
Summary of results:
Hole EOIC-1125, drilled vertically, is the eastern most hole drilled on the project to date by the Company and intersected 187 meters at 0.23% copper and 0.39 grams per tonne gold including 102.4 meters at 0.28% copper and 0.56 grams per tonne gold. This hole bottomed in mineralization grading 0.36% copper and 0.76 grams per tonne gold after being prematurely shut down due to poor ground conditions.
Hole EOIC-1123, also drilled vertically on the eastern side of the deposit, encountered 187 meters at 0.29% copper and 0.46 grams per tonne gold. Above this was 99.9 meters of oxide gold mineralization grading 0.51 grams per tonne gold.
Hole EOIC-1124, drilled vertically along the northeast edge of the deposit, encountered 162 meters at 0.18% copper and 0.25 grams per tonne gold. Additional holes to be drilled in the 4,000 meter, 2011 diamond drill program will provide additional infill data.
Ilovitza is a Tertiary copper-gold porphyry system, part of a province of such deposits in Macedonia and Greece that includes the 4 million ounce gold-800,000 tonne copper Skouries deposit in Greece. The Ilovitza Project is easily accessible by paved road, is near a rail line and just 75 kilometers from a port facility.
EurOmax holds an option on the Ilovitza Project from a major international mining company and this project is subject to back in rights once a certain drilling commitment has been met.
Dr Quinton Hennigh technical advisor to the Company said that ”These three holes, all step outs, extend mineralization by an additional 150 meters in an easterly direction. Although sulfide mineralization does not reach surface here, it is clear that the deposit remains wide open in that direction. Our 2011 drilling program has now expanded the footprint of known mineralization by about 20% to 25%."
