EurOmax Provides Update on it's Bulgarian Projects - New High Grade Silver Discovery at Trun
EurOmax Resources Ltd. (TSX-V:EOX; OTCQX:EOXFF) released an update today on recent drilling results at its 100% controlled Trun Project and the sale of Thrace Resources EOOD, an indirectly held wholly-owned subsidiary which holds the mineral rights for the Breznik and Rakitovo Projects.
At the Company's Trun Project, recent drilling has led to a high-grade silver discovery with assays returning 12.8 meters at 975 grams per tonne silver including 3.0 meters at 3,450 grams per tonne silver in diamond drill hole 12132.In addition to the high-grade silver intercept, diamond drill hole 12132 also encountered significant gold mineralization including 20.1 meters at 1.25 grams per tonne gold beginning at a down hole depth of 88.9 meters. This lower gold zone appears to parallel the high-grade silver zone above.
Reporting on the news, Dr. Quinton Hennigh, Chief Geologist of EurOmax stated: "We are very pleased with results from this high-grade silver shoot at Trun. The KD zone is part of a long list of mineralized zones recognized across this very large project. At least seven significant zones of near-surface gold and/or silver mineralization have now been identified at Trun."
In the release EurOmax also reported that it has sold its indirectly held wholly-owned subsidiary Thrace Resources EOOD, which holds the mineral rights for the Breznik Property and the Rakitovo Property. Thrace was sold to a private company for payments that will total Cdn $3.5 million, if certain milestones are achieved, and a 1.5% Net Smelter Return on the first 330,000 ounces of gold and 970,000 ounces of silver produced at the Breznik Property.