EurOmax Resources intersects long intervals of copper-gold at Ilovitza

May 26, 2011 3:35 PM ETEOXFF

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Vancouver-based EurOmax Resources (CVE:EOX) reported Thursday the results from the first two drill holes this year at its Ilovitza project in Macedonia, both intersecting long intervals of copper-gold mineralization.

Hole EOIC-1121, the most northwestern hole drilled on the project to date, returned 449 metres at 0.18% copper, 0.35 g/t gold and 9.87 g/t silver, including 150 metres at 0.30% copper, 0.74 g/t gold and 26.87 g/t silver.

The company said that in addition to the high copper and gold grades, the silver assays in this hole are by far the highest grade yet encountered on the property.

“Hole EOIC-1121 indicates the porphyry system remains wide open to the north and northwest,” said technical advisor, Dr. Quinton Hennigh.

“Our 2011 drill program should significantly expand the footprint of this already very large porphyry complex.”

Indeed, the second hole, EOIC-1122, which fills a large gap with no previous drilling, intersected 369 metres at 0.22% copper and 0.33 g/t gold.

EurOmax plans on drilling additional holes as part of its 4,000 metre 2011 diamond drill program, which will be designed to expand the property to the east and north, as well as provide additional infill data.

So far, the area underlain by copper-gold mineralization measures approximately 1 kilometre north-south and 700 metres east-west.

Ilovitza is a copper-gold porphyry system that is part of a province of such deposits in Macedonia and Greece that includes the 4 million ounce gold and 800,000 tonne copper Skouries deposit in Greece. EurOmax holds an option on the Ilovitza project from a major international mining company, and the license for the property was recently expanded an additional 4 square kilometres.

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