- 12 meters @ 12.2 g/t Au, including 7.4 meters @ 19.3 g/t Au in SLV005
- 8 meters @ 1.25 g/t Au and 3.4 meters @ 3.12 g/t Au in SLV006
Avrupa Minerals Ltd. (AVU:TSXV) is pleased to report results for holes SLV 005 and SLV006 at the Slivovo prospect in Kosovo. The project is operated by Avrupa, and funded by partner, Byrnecut International Ltd. (BIL).
Avrupa geologists collared holes SLV005 and SLV006 at the same spot, located approximately 110 meters east of previously reported SLV004. SLV005 was designed to test the true thickness of gold mineralization at a point located approximately 100 meters east (and down dip) of the SLV004 collar location. SLV006 was designed to test the potential for gold mineralization further to the east (and down dip) of SLV005.
Results from SLV005 include a 12-meter intercept of 12.2 g/t gold and 8.02 g/t silver at a depth of 27.40 to 39.40 meters. This includes a 7.4-meter intercept of 19.3 g/t gold and 9.32 g/t silver over the interval 32.00 to 39.40 meters. Visible gold is present in a number of spots through the 7.4-meter interval. Gold mineralization occurs in a zone of semi-massive sulfidic rock with strong, pervasive quartz-adularia alteration, typically associated with low temperature, epithermal precious metal deposits. Sulfides and alteration appear to have replaced fine to medium-grained limey sandstone rocks.
Results from SLV006 show several intercepts of lower level gold mineralization in stockwork-veined, semi massive sulfidic rocks that appear to have less quartz-adularia alteration, but perhaps stronger clay alteration than noted in SLV005. The intercepts include 10.8 meters @ 1.25 g/t gold and 15.1 g/t silver from 74.9 to 85.7 meters and 3.4 meters of 3.12 g/t gold and 20.8 g/t silver over the interval 90.5 to 93.9 meters.
The following schematic section illustrates the present thinking about mineralization in the Pester gossan zone:
- SLV004 obliquely cuts the dip of the mineralized zone from the surface to approximately 100 meters down dip, before entering the underlying boundary fault. At this stage of the exploration program, it is difficult to determine the true thickness of the gold-rich zone, though outcropping expression of the mineralization suggests a potential true thickness of more than 20 meters at the surface.
- SLV005 perpendicularly cuts the gold-rich sulfidic rocks, also at about 100 meters down dip of the mineralized zone. At this point, the true thickness appears to be at least 12 meters.
- SLV006 attempts to locate gold mineralization further down dip, until reaching the underlying fault. At this time, it is unclear why gold mineralization is lower grade and more widely dispersed than in SLV005.
- It is possible that gold-silver-copper-zinc – bearing fluids, from a yet-to-be-discovered source, moved along the flat-lying boundary fault and seeped upwards through the porous, limey sandstone host rocks, depositing gold closer to the fault zone and other metals throughout the sulfidic zone. The reason for the pattern of mineralization is unknown, and much more drilling will be necessary to determine the potential for a gold deposit at the Slivovo prospect.
To date, Avrupa has drilled eight holes, totaling about 1,000 meters in the first phase of the program. The drill program has been temporarily suspended due to winter weather, and it is expected that the drilling will re-commence towards the end of March. The next holes are planned in the epithermal target area, which will allow time to construct access to further drill sites in the gossan zone.
Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, “We continue to be extremely pleased with the results at Slivovo, particularly those from SLV005. We have determined that the probable true thickness of the Slivovo gold mineralization is at least 12 meters, at a distance of approximately 100 meters down the dip of the host sulfide block. Surface outcrops of mineralization suggest that the true thickness may reach to over 20 meters, up dip, closer to the surface. While gold results in SLV006 were not as outstanding as those of SLV004 and SLV005, we have shown that the mineralization continues down dip, and that there is plenty of room for further drilling, both along width and at depth. In the meantime, we have further sampling to complete on holes SLV007 and SLV008, drilled in the sandstone gossan area, and a total review of this past fall’s work. Each drill hole has added to our knowledge of the project and, at the same time, has upgraded our evolving model. We are certainly excited about the potential of the project, and have full support of our partner, Byrnecut International.”
Notes on analytical methods and quality control. All samples were sent to the ALS Minerals sample preparation facility at Rosia Montana, Romania. ALS performed the gold analyses at Rosia Montana, using their standard Au-AA23 fire assay-atomic absorption spectroscopy (AAS) method on a 30-gram prepared sample. For the standard ME-MS61 multi-element analyses, ALS shipped prepped material to their main European analytical laboratory located in Loughrea, Ireland, where all other metals’ results were obtained using a four-acid digestion, followed by ICP-AES analysis for near-total results in all metals In addition to ALS Chemex quality assurance/quality control (QA/QC) of all work orders, the Joint Venture conducted its own normal, internal QAQC from results generated by the systematic inclusion of certified reference materials, blank samples and field duplicate samples. The analytical results from the quality control samples in the SLV005 and SLV006 work orders have been evaluated, and conform to industry best practice standards.
Arrangement with Byrnecut International Limited. Under the Earn-In Agreement with BIL, Avrupa is the project operator, and BIL has the following participation options:
- To earn a 51% interest in the Slivovo Project, BIL must spend €1,000,000 for exploration on the project by April 10, 2015, of which €360,000 is a firm commitment and must be spent by October 10, 2014. (Underway, firm commitment completed)
- To earn a further 24% interest in the Slivovo Project, for a total interest of 75%, BIL must spend an additional €1,000,000 for exploration, bringing total expenditures to €2,000,000, by April 10, 2016.
- BIL can earn an additional 10% by completing a Preliminary Feasibility Study on the Slivovo Project for a total interest of 85% by April 10, 2017.
Byrnecut International Limited is an Australian company engaged in mechanised underground mine feasibility, mine development, and mine production. This includes shaft sinking, shotcreting, raise-boring, the provision of high quality equipment rebuilds, maintenance engineering, labor hire and training for the mining industry, as well as mine engineering consultancy services. Principal customers include first world mine owners across the globe.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator model, of valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.
The Company currently holds 10 exploration licenses in three European countries, including seven in Portugal covering 3,981 km2, two in Kosovo covering 38 km2, and one in Germany covering 307 km2. Avrupa operates three joint ventures and one exploration alliance in Portugal and Kosovo, including:
- The Alvalade JV, with Antofagasta, covering one license in the Iberian Pyrite Belt of southern Portugal, for Cu-rich massive sulfide deposits;
- The Covas JV, with Blackheath Resources, covering one license in northern Portugal, for intrusion-related W deposits;
- The Slivovo JV, with Byrnecut International, covering one license in central Kosovo, for gold and base metals related to carbonate-hosted massive sulfide deposits in the Vardar Mineral Trend; and
- The CalGen Exploration Alliance, with Callinan Royalties Corp., covering generative exploration throughout Portugal, and including specific prospect upgrade work on the Alvito IOCG license in southern Portugal.
Avrupa is currently upgrading precious and base metal targets to JV-ready status in a variety of districts on their other licenses, with the idea of attracting potential partners to project-specific and/or regional exploration programs.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com.