EurOmax Discovers New Gold Zones at its Trun Gold Project, Bulgaria
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/23/11 -- EurOmax Resources Ltd. (TSX VENTURE: EOX)(PINK SHEETS: EOXFF) ("EurOmax" or, the "Company") is pleased to announce additional drill results, including several new, high-grade gold intersections, from the ongoing drill program at the Company's 100% controlled Trun Gold Project, Bulgaria.
The first diamond drill hole to test the Tumba target, MTC1178,intersected 8 meters at 7.34 grams per tonne gold (26.2 feet at 0.214 oz per ton gold) and another interval of 9 meters at 4.14 grams per tonne gold (29.5 feet at 0.121 oz per ton gold).
A drill hole collared to test the KD Zone, MTC1180, encountered 44.8 meters at 1.32 grams per tonne gold (146.9 feet at 0.039 oz per ton gold).
"The objective of our summer 2011 drill program was to test multiple new targets at Trun and we are very pleased with our results to date," comments Dr. Quinton Hennigh, technical advisor to the Company. Including our results announced earlier this summer from the Ruy and Nadejda targets, combined with these results from the Tumba and KD targets, we are clearly demonstrating the resource potential at Trun. We look forward to additional drill programs to fully explore Trun's large and complex gold system."
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 "tombstone-type" 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 (see Technical Report on the Gold Resources at Trun Property dated January 31, 2011 which is available under the Company's profile on SEDAR at ) 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 will 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, including magnetics and induced polarization-resistivity, have been completed 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. Dr. Roger Moss, the qualified person for Trun, has visited the SGS Chelopech facilities and is satisfied that the sample preparation and assay procedures are consistent with industry best practices.
Gold was generally assayed by fire assay followed by atomic absorption (FA/AA), but because of the presence of coarse gold at Tumba, high grade samples were submitted for metallic screen assay. Both coarse and fine fractions were assayed by fire assay with a gravimetric finish and the final assay calculated by the weighted average gold content of the different fractions. Other elements, including silver and tungsten, were assayed by ICP-OES following an aqua regia digest. Quality control samples, including duplicates, standards and blanks, were submitted by EurOmax.
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 contains forward-looking statements including but not limited to statements regarding resource estimates, drilling and geological interpretations by the Company for its Trun project. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company, including that the key assumptions and parameters on which such resource estimates and drilling and geological interpretations are based are reasonable. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that actual results of exploration activities will be different than anticipated, data and assumptions underlying the resource estimate or drilling and geological interpretations may prove to be inaccurate, incomplete or to have been incorrectly interpreted, the general risk of unexpected variations in mineral resources, and grade or recovery rates. Readers are also 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", which documents describe material factors and assumptions and risks that apply to the forward-looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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Contacts:
San Diego Torrey Hills Capital
(858) 456-7300
EurOmax Resources Ltd.
Mark Gustafson
President & CEO
(604) 454-8677
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Datum: 23.08.2011 - 13:00 Uhr
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News-ID 58289
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