Euromax Resources begins drilling at Ilovitza
2007-09-11 08:54 ET - News Release
Mr. John Menzies reports
DRILLING COMMENCES IN MACEDONIA
Euromax Resources Ltd. has commenced drilling at the Ilovitza property in Macedonia. A 30-line-kilometre geophysical program of induced polarization, resistivity and magnetics over the Ilovitza North porphyry and surrounding alteration system has been contracted.
At Ilovitza a copper-gold stockwork intrusion (Ilovitza North) at least 800 metres long and 400 metres wide intrudes a 1.3-kilometre diameter volcanic diatreme. Reconnaissance mapping has defined a high sulphidation system (Ilovitza South), with a prominent alunite-silica lithocap, extending at least 1,000 metres to the south of Ilovitza North. Within Ilovitza South vein stockworks and advanced argillic alteration are locally well developed. In several locations enargite bearing vuggy silica has been mapped. Sampling of sulphidic vuggy silica breccia by Euromax in a small adit at the most southern outcrop of the high sulphidation system has returned 3.2 grams per tonne gold and 0.4 per cent copper.
The first diamond drill hole planned to a depth of 450 metres, at Ilovitza South is targeted to intersect the high sulphidation zone 250 metres below the main stockwork outcrops. This will be the first hole drilled at Ilovitza South. Subsequent holes are planned in the main Ilovitza North porphyry to test the potentially higher-grade eastern and western portions of the intrusion.
The geophysical program will evaluate the entire intrusive system and surrounding alteration zone, in particular the prominent alunite-silica lithocap at Ilovitza South, which has widespread artisanal workings and remains undrilled. A soil geochemistry program has been completed at Ilovitza South.
At the Kazandol oxide-copper property a 1,000-metre infill trenching program has been completed and results are pending.
John Menzies, a qualified person as defined by National Instrument 43-101, supervised the preparation of the information in this release.
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