- Alvalade drilling campaign starts; initial core hole underway
- Plan for 7 – 8,000 meters in 12 to 15 diamond drill holes
- Sesmarias VMS system to be tested first
- Targets between Sesmarias, Lousal, and Monte da Bela Vista later
- Helicopter-supported VTEM geophysical survey to begin; will cover 75% of Alvalade license
Avrupa Minerals Ltd. (AVU:TSXV) is pleased to announce that the Company has started drilling on the Alvalade Project. Originally planned for an October start-up, delays due to permitting of land and water access set the program back for over a month. The drill rig is now set up at the northern end of the Sesmarias massive sulfide mineralization where the Company is targeting both strike-length and dip-length extensions of the copper-zinc-iron sulfide zone. Re-logging of previous Avrupa drilling by company and partner geologists along the Sesmarias discovery zone is providing an enhanced look into the targeting for new, additional mineralization, and the first holes will test this expansion potential. In total, we expect to drill 7-8,000 meters in this initial program over the coming months.
In addition to the drilling, a helicopter-supported VTEM electromagnetic survey will commence in mid-December, covering the northern 3/4 of the Alvalade License. The survey will be conducted by Canadian-based Geotech Ltd. Results from this program will assist in delineating further massive sulfide targets, particularly in the license area between Sesmarias and the historic Canal Caveira massive sulfide deposit located at the north end of the license. Initial orientation flights over the Sesmarias and Lousal massive sulfide deposits will be of significant value for determining the important geophysical characteristics of these deposits. Understanding the geophysical signatures here will subsequently be utilized to help discover new areas for potential discovery, especially between the historic Caveira Mine and the Sesmarias discovery.
The continuing work program is fully funded by Minas de Aguas Teñidas, S.A. (“MATSA”). MATSA can initially earn a 51% interest in the Alvalade Experimental Exploitation License property by completing funding requirements set out in the joint venture agreement between the companies. MATSA may then increase their interest in the Project to 85% by preparing a bankable feasibility study. Avrupa previously described the details of the agreement in news releases dated October 1, 2019 and November 20, 2019.
Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, “It’s great to finally get the drilling program started. The team has worked hard to get to this point, and we are looking forward to the potential expansion of the Sesmarias mineralization, as well as to the discovery of new zones along with the district trend from Sesmarias to Lousal/Monte da Bela Vista to Caveira. We will have a lot going on until the end of the year and expect a busy first quarter of 2021.”
In continued deference to the COVID-19 pandemic, all efforts to maintain a healthy, safe, and sustainable working environment will continue to be the first and foremost priority at the Project facilities and in the field.
Minas de Aguas Teñidas, S.A. (MATSA) is a private Spanish mining company, which owns and operates three mines in the province of Huelva (Andalusia, Spain): Aguas Teñidas, Magdalena, and Sotiel. MATSA also holds 1,312 km2 of exploration permits in the south of Spain and 1,106 km2 in Portugal. Focused on innovation and the most advanced technology to develop modern and sustainable mines, MATSA is a 50:50 joint venture company of Mubadala Investment Company, a sovereign investor managing a global portfolio aimed at generating sustainable returns for its shareholder, the Government of Abu Dhabi, and Trafigura, one of the world’s leading commodity trading houses.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model. The Company holds one 100%-owned license in Portugal, the Alvalade VMS Project, now optioned to MATSA in an earn-in joint venture agreement. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal and Kosovo. The Company continues to seek and develop other opportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com
On behalf of the Board,
“Paul W. Kuhn”
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release. Comments concerning resource estimates at the historic Lousal Mine are taken from publicly-available reports and studies, but are in no way compliant with resource definition regulations outlined in National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.