Euromax announces 2012 drilling results from KMC project, Serbia
Wednesday, Feb 20, 2013
Euromax Resources Ltd. (TSX VENTURE:EOX) (OTCQX:EOXFF): ("Euromax" or the "Company") is pleased to announce 2012 drilling results from its KMC project, located in southwest Serbia, some 200 kilometres from the capital Belgrade. The licence covers around 60 square kilometres. KMC's mineralisation includes thick sequences of gold-copper skarns, gold skarns, zinc-lead-copper-gold skarns and volcanic hosted gold mineralised silica breccias. In late 2012 Euromax completed a diamond drill core programme comprising some 7,000 metres. Drilling was targeted at delineating the skarns in the southern part of the property, named Copper Canyon, in order to define a maiden resource in that area and in testing other targets defined by geophysics and historic drilling to the north of this.
A brief synopsis of the exploration to date on the property is appended to this release, including a drill hole location plan for the above results (See Appendix - Figure 1). The drilling has demonstrated sufficient continuity of mineralisation at Copper Canyon to proceed with the maiden resource estimate and this is scheduled for completion in Q2 of this year. In addition, the drilling has confirmed significant widths of both gold-copper and base metal rich skarns in the areas to the north of Copper Canyon, namely Shanac and Madenovac (See Appendix - Figures 2-4). Geophysical survey results using gravity and resistivity anomalies have been shown to be a highly effective tool in targeting skarns under cover, as confirmed by the drill results with the most strongly mineralised intercepts correlating well with the strongest geophysical anomalies.
Further drilling is scheduled for later in 2013, primarily aimed at delineating the skarns discovered to the north of Copper Canyon and allow preliminary resource estimates on these in the near future.
Commenting on the results, Pat Forward, Chief Operating Officer of the Company said, "We are delighted with the 2012 drill results from our KMC property in Serbia. We are now confident to proceed with a maiden resource estimate on the Copper Canyon skarn and the results also confirm numerous other skarn targets on the concession. The results suggest that KMC could be a significant contributor to the Company's resource base in addition to the development properties of Ilovitza in Macedonia and Trun in Bulgaria. We look forward to announcing the maiden resource in the coming months and to further drilling results later in the year."