The Company holds exploration licenses through its subsidiaries in Portugal, Finland and Kosovo.
- In the Iberian Pyrite Belt, the Company announced in late 2019 that it had engaged Minas de Aguas Teñidas, S.A. (MATSA), a Spanish-based mining company, to form an exploration joint venture at the Alvalade copper-zinc project. The two companies started working together on the Project in June 2020, when the Mining Bureau of Portugal (DGEG) issued a new 5-year Experimental Exploitation License for Alvalade.
- The Company completed consolidation of the Alvalade license (see news release of June 19, 2017), and ran its own self-funded drilling program in 2018-19. Success in this drilling program led directly to the formation of the JV with MATSA. The license contains a massive sulfide discovery at the Sesmarias site, and a stockwork sulfide target zone at Monte da Bela Vista, as well as two past-producing iron-copper-zinc mines, Lousal and Caveira. Company geological consultants have determined that the Lousal Mine may still have upwards of 30 million tonnes of sulfide material remaining in the areas of the old workings. Recent geological modeling suggests new targets at Lousal, at Sesmarias, and elsewhere on the 115 km2 property.
- In December 2021, Avrupa acquired three mineral reservations in the past-producing and highly prospective Vihanti-Pyhäsalmi VMS district in central Finland. Deposits in this belt are similar, though much older than those found in the Iberian Pyrite Belt where Avrupa is currently drilling in southern Portugal. Also included in the package is a gold property covering under-explored gold targets in a greenstone belt-hosted, major shear zone located along strike from the Oijärvi gold project.
- Avrupa Minerals discovered the Slivovo Gold Deposit in Kosovo in 2014. The Company quickly gained a strong JV partner, Australian miner Byrnecut International Limited. Byrnecut brought the Project to PFS level, but decided to divest in Q1 2020, giving Avrupa the opportunity to re-apply for a new 7-year exploration license over the original ground. The Company submitted the application, but the Mining Bureau of Kosovo (ICMM) has not made a decision on granting the license. ICMM needs to certify a new Board of Directors in order to make a decision on the issuance of the new license. The Kosovo Parliament has not formed a new government and therefore has not selected the requisite board nominees. Our expectations are that a new government will be formed in early Q1 2021 and the potential to move forward will increase substantially. The Slivovo deposit contains a JORC/NI 43-101 resource of approximately 125,000 ounces of gold at around 4.5 g/t, located close to the surface and potentially mineable by surface means.
- The Company continues to review potential exploration opportunities around favorable mining districts in Europe. We are presently looking at both gold and base metal ideas in central and eastern Europe, Scandinavia, Turkey, Kosovo, and Portugal.