Euromax Resources (OTCQX: EOXFF; TSX-V: EOX) is gaining traction within the analyst community, beginning with a recently completed report by Euro Pacifc. EurOmax has a portfolio of projects in the Republic of Bulgaria, Serbia and Macedonia. Several mineral targets have been identified with potential for significant expansion of the current resource calculations. Highlights from the report include the following excerpts.
REASONS TO WATCH
Portfolio of Projects: The Trun project is divided into the Big Hill project and Little Hill project and is comprised of 11 mineral targets along with several additional targets on the various projects owned by EurOmax.
Resource Calculation: EurOmax has a global NI 43-101 compliant inferred resource of 5.79M oz gold, 1.56B lbs of copper, 2.10M oz silver and 34.6M lbs of Molybdenum. The most advanced project is Ilovitza in Macedonia with an NI 43-101 inferred sulphide resource of 303M tonnes grading 0.23% copper, 0.32 g/t gold, and 0.005% molybdenum. The Logo Project on the Trun Property is a highly prospective target and the most advanced at Trun with an inferred resource calculation of 2.10M oz gold.
Favourable Geology: The KMC project has several different types of mineralization including proximal copper-gold skarn, distal gold skarn, lead-zinc-copper-gold skarn, volcanic hosted gold and silica breccia hosting gold mineralization. The Trun project is comprised of multiple gold occurrences which are hosted in granite or, in the case of Logo, in the overlying hornfels. The Ilovitza project is a large copper-gold porphyry with significant potential for expansion.
ACTION – ADD TO WATCH LIST
Euro Pacific believes that EurOmax has several highly prospective mineral targets on multiple projects. Trun and Ilovitza both remain attractive for exploration as they offer significant growth potential of current resources. The Trun property has 10 targets. Only one of these 10 targets at Trun have a resource calculation totalling 2.1M oz gold. The KMC project has five styles of mineralization and has yet to encounter the porphyry intrusions believed to be the cause of the widespread mineralized zones on the project.