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EurOmax Starts Diamond Drilling Program in Bulgaria
Date: 27/05/2010
EurOmax Starts Diamond Drilling Program in Bulgaria

Canada-based mining company has started a diamond drilling program at its Breznik Gold Project in Bulgaria.

The program which will total seven holes and approximately 1,000 metres is designed to test the continuation of the currently identified mineral resource.

If successful, the drilling will double the strike length of mineralization at the EurOmax project in Breznik to the west of Sofia, the company announced adding that once the drilling is completed it intends to apply for a Commercial Discovery Certificate under Bulgarian mining law.

More than one kilometer of the mapped strike length of the vein system near Breznik remains untested, and drilling is expected confirm the potential for the extension of previously identified high grade mineralization to the west, states EurOmax.

EurOmax Resources Limited is a Toronto Venture Exchange Listed company maintaining portfolio of gold and base exploration projects in South Eastern Europe.

In 2004, the Bulgarian government issued two licenses to the company, the 98 square km Breznik permit and the Rakitovo permit which covers 83 square km.

The Breznik permit covers a 3 500 meter by 1 500 meter hydrothermal system which is both intensively altered and host to widespread gold mineralization. Placer gold deposits have developed on the flanks of the system.

Mineralization is hosted by Late Cretaceous andesite intruded by porphyry stocks and dikes. Importantly the license lies within the Banat-Srednogorie Cu-Au belt which hosts large gold and copper deposits within Bulgaria and neighboring countries, according to the EurOmax website.

Topic: Economy

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