Avrupa Minerals Retains 100% of Alvito Project
TSX VENTURE: AVU
VANCOUVER, British Columbia, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (AVU:TSXV) (US OTC:AVPMF) (FRANKFURT:8AM) announces that upon the completion of the recent Alvito drilling program, Avrupa will retain 100% of the Alvito IOCG project in Portugal, as the partner has declined to earn its potential interest in the project.
Alvito Project Plans
With the completion of the summer drill program and subsequent detailed analysis, Avrupa defined a 20-square kilometer area for further priority follow-up based on anomalous copper results from the drilling program, as shown below. The partner declined to earn its potential interest in the project, and Avrupa will retain 100% of the Alvito IOCG Project. With the work completed, the Company will keep the project in good standing through 2019.
Avrupa intersected reportable anomalous copper results in eight out of 18 drill holes. The best overall consistent results came from the Entre Matinhas target area where copper values in six of eight holes came in at 0.1% and greater over intervals of 1.5 meters to 86 meters. The highest grade-intervals included (see further detail in Avrupa’s news release NR 09-2018 issued on September 25, 2018):
- 86.3 meters @ 0.16% copper, including 9.8 meters @ 0.41% copper, in EMS001
- 21.4 meters @ 0.1% copper in EMS002
- 2.55 meters @ 0.91% copper in EMS003
- 44.65 meters @ 0.21% copper, including 7.1 meters @ 1.0% in EMS005
- 5.25 meters @ 0.31% copper in EMS006
- 4.45 meters @ 0.46% copper in EMS008
Anomalous intervals in other target areas include:
- 4.7 meters @ 0.13% copper in EAM001
- 7.8 meters @ 0.11% copper in EAM002
- 10 meters @ 0.11% copper in OUT001
Avrupa retains 100% interest in the project and is now free to advance the project with further drilling next summer, or establish a new option agreement with another partner.
Alvalade VMS Potential Partner update
The potential option partner announced on March 5, 2018 for Avrupa’s Alvalade VMS project is continuing to complete its due diligence, and both parties are moving forward on the transaction, despite the formal expiry of the Letter of Intent. There can be no assurance that this Option/JV agreement will be completed, and as such, Avrupa is considering other options for the project which will be announced shortly.
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.
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.
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.