Euromax Resources (OTC Other: EOXFF; TSX-V: EOX), at its Ilovitza property, has intercepted 345 meters of 0.32 g/t gold and 0.24% copper, including 153 meters of 0.45 g/t gold and 0.30% copper. Significantly, these results closed a 200 meter wide gap in the southwest quadrant of the porphyry which had no previous drilling, and thus clearly demonstrating good continuity and consistency in this area.
Also of importance, Euromax has completed a 10,000 meter drilling commitment at Ilovitza. As a result of meeting this commitment, the Company has provided notice to a large international mining company. This mining company now has 90 days to decide whether it wants to relinquish all interests in the property or acquire a 70% interest in the property and carry it to final feasibility by reimbursing Euromax an amount equal to two times (2x) Euromax’s expenditures on the property. Either way, it will be a win-win for Euromax. The clock is ticking and only time will tell.