REO
Plavkovo

Location of the Plavkovo Exploration Permit within the Vardar metallogenic zone, SE Europe

Sketch Map of the Permit area, showing location of prospect areas in Neogene andesite volcanics.

Map of the Bukovik and Plavkovo Prospect areas

Plavkovo Prospect, Trench B

Plavkovo Prospect, Trench C

Intensely silicified andesite, Bukovik prospect

General view over the Plavkovo Exploration Permit

Bukovik Area - Geology (outcrops), Geochemistry and Resistivity with Drill Locations.

Bukovik Area - Geology (outcrops), Geochemistry and Total Magnetic Intensity (Residual) with Drill Locations.

Bukovik area & Drill hole location BK-1

Bukovik area & Drill hole location BK-3

Plavkovo Exploration Permit


Highlights
  • Extensive zone of gold (up to 13 g/t gold) and base metal mineralization associated with intense argillic alteration in the Plavkovo area

  • Excellent potential for high-sulphidation epithermal gold mineralization associated with silica-alunite alteration, robust geochemistry and IP anomalism in the Bukovik area

  • Proximal to recent discovery of porphyry copper mineralization at Rudnitsa
Background

The Plavkovo Exploration Permit is located within the Vardar Zone of Neogene epithermal and porphyry copper mineralization, and at the northern extremity of the Trepca "Belt" carbonate-replacement zinc-lead mineralization. The Vardar Zone extends contains several operating mines (including Sasa lead-zinc and Bucim porphyry copper in Macedonia, Olympias and Stratoni lead-zinc and the development of the Skouries porphyry copper deposit in northern Greece). The Plavkovo area contains a number of mineralized occurrences and is considered to be highly prospective. Euromax Resources Ltd has an active exploration project for porphyry copper-gold mineralization on the adjacent Rudnitsa Permit under the terms of an option agreement with Freeport McMoran Exploration.

Geology and Mineralization:

Neogene andesite volcanics and volcaniclastics, with very occasional dacite and andesite intrusives in the region dominate the geology of the Permit area. The Permit contains several occurrences of structurally-controlled zinc-lead-copper vein mineralization that were explored by government agencies in the 1970's and 80's, and an important occurrence of alunite with associated gold values was discovered at the Bukovik Hill during the 1980's. The mineralization targets in the Permit include high-sulphidation gold mineralization, intermediate-sulphidation gold and base metal mineralization, and porphyry copper mineralization.

Title and Area:

The Plavkovo Exploration Permit was originally granted on 26.02.2004 and covers an area of 19.8 km2.

Exploration Status:

Initial regional stream sediment and rock sampling identified three main target areas: Plavkovo, Lipovice and Bukovik prospects. Subsequent work has included detailed geological mapping, soil sampling, and rock-chip sampling from outcrops and trenches. The geochemistry and geological mapping has been complemented by spectrographic analysis (PIMA) for alteration identification that confirmed extensive silica-alunite alteration in the Bukovik prospect, and advanced argillic, and locally silicic, alteration associated with the known mineralization at the Plavkovo and Lipovice prospects. Ground magnetic and IP/resistivity geophysical surveys have been undertaken at Bukovik, and have successfully defined the silica-alunite alteration zone and identified IP anomalies adjacent to and below the alteration cap rock.
  • Bukovik Prospect: The Bukovik high-sulphidation silica-alunite alteration extends over about 1000 by 250 meters along strike on the Veliki Bukovik Ridge. The area of alteration was previously investigated as a potential source of alumina by Yugoslav state organizations, but only limited exploration for gold was undertaken. The soil sample survey delineated a coherent, gold in soil anomaly from 30 to 328 ppb that is constrained within a 100 meter vertical elevation extent and occurs at the base of the silica-alunite alteration cap. The principal outcrops of intensely silicified andesite have been systematically sampled by 106 chip-channel rock samples, which assayed from 0.005 to 1.740 ppm gold, and averaged 0.267 ppm gold. The highest grade channel samples came from the Bukovik Mali Krs area, and reported up to 8 meters at 0.62 ppm gold, including 2 meters at 1.12 ppm gold. The IP and resistivity survey identified several conductors indicative of sulphide mineralization beneath the silica cap. A small drilling progamme to test these conductors was initiated in winter 2007, but had to be abandoned due to poor weather before any targets could be tested.
  • Plavkovo Prospect: The Plavkovo gold-copper prospect is located about 2700 meters to the northeast of Bukovik, and is marked by a 150 meter wide zone of anastomosing sulphide-bearing quartz veins and veinlets in a structurally controlled zone of brecciated andesites exhibiting intense argillic alteration. Grab-sampling of outcrops in the Plavkovo area yielded a maximum of 13.55 ppm gold (253 rock samples from the prospect average 0.36 ppm gold). Chip-channel sampling from outcrops and four trenches tested a strike-length of 360 meters along the mineralized structure. The samples were all collected across strike, and the best results are tabulated below. The mineralization exposed in trenches B and C continues into waste material from earlier exploration and historic mining, which prevents a complete understanding of the true surface extent.

Trench # length (meters) ppm gold percent copper
A 4.9 1.12  
B 8.0 1.41  
C 26. 0.37  
including 5.5 0.96  
16.2   0.21
D 14.0   0.49
Sample results from trenches in the Plavkovo Prospect

Systematic sampling of outcrops in the "gypsum" zone, which is marked by pyritic and advanced argillic alteration of andesite, yielded 14.2 meters at 0.58 ppm gold including 2 meters at 2.2 ppm gold. This zone is located about 400 meters east of the trenches, and suggests a possible continuation of the mineralized structure for nearly 800 meters.
  • Lipovica Prospect: Detailed mapping revealed lead-zinc veins hosted by andesite exhibiting advanced argillic alteration. Extensive rock sampling (109 samples) yielded occasional samples greater than 1 ppm gold, with a maximum of 1.95 ppm gold.
 
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