Euromax Resources (OTCQX: EOXFF; TSX-V: EOX) has completed an updated compliant resource estimate at Ilovitza to inlcude approximately 7,400 metres of drilling during 2010 and 2011. The updated resource estimate consists of sulphide and mixed resources, which is comprised of gold, copper and molybdenum, and oxide gold resources.
The table below summarizes the updated 43-101 compliant resource estimate at Ilovitza. Ilovitza now has an indicated resource of 0.2 million gold ounces and 111.5 million pounds of copper and an inferred resource of 4.4 million gold ounces and 1.7 million pounds of copper. In the aggregate on a gold equivalent basis, Ilovitza’s combined indicated and inferred resource is approximately 8.2 million gold equivalent ounces.