Friday 2nd December 2016

Resource Clips



Euromax President Mark Gustafson on Bulgaria assays of 2.14 g/t gold over 87m

“In summary, we have plans for roughly a 4,000-metre drilling program. So there’s a lot of additional drilling to come yet. The results we’ve seen so far would indicate that a whole lot more drilling would be warranted. We’re ecstatic with our 87 metres at 2.14 g/t gold—that certainly exceeded our expectations, and it’ll justify further drilling around that Ruy target area.

“There’s a resource estimate that we put out in February that shows 2.1 million ounces at the Logo Gold Prospect. That’s the northern area, and that’s just the one prospect. Chances are there’s some multiple of that, but it’s too early, and we don’t have enough drilling to justify that.

“With a property like Trun there’s that opportunity to potentially take it to production ourselves. That’s what we’re wrestling with internally—how far do we take it? What do we do with it? We are an exploration company, but how far do we take it up the resource curve? We definitely do need a lot more drilling on it, and the question is do we do it ourselves or bring a partner on board to help us with that. And we have no firm answer to that yet. But it looks encouraging.

“Bulgaria is quite a good place to work. We’ve got our three gold properties there and a host of potential prospects coming. We find it very, very good to work in. It’s an EU country, and our Senior VP Exploration is from there and worked in the government, so we’ve found it very seamless. It’s pretty much everything we were told to expect; they want to do business with you. It’s quite encouraging.”

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