Drilling Starts at Avrupa Minerals’ Alvalade Project, Portugal
TSX VENTURE: AVU
VANCOUVER, British Columbia, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (AVU:TSXV) is pleased to announce startup of drilling at the Sesmarias copper/zinc discovery located on its 100%-owned Alvalade Property in the Iberian Pyrite Belt (IPB) of south Portugal. The Company will drill approximately 2,500 meters in five to seven diamond drill holes to enlarge and upgrade at least two lenses of copper- and zinc-bearing massive sulfide mineralization discovered by Avrupa during previous exploration work in the target area.
Recent, ongoing geological review of Sesmarias area core, along with subsequent interpretation and three-dimensional (3D) modeling of the data, suggests a simplified deposition history of mineralization and surrounding rock units. Using the newly developed information, Company geologists see continued potential in the SES002 (“2”) Lens and in the SES010 (“10”) Lens. The new work indicates the possibility that a third lens may be located between widely-spaced drill holes SES008 and SES009 (the “8” Lens).
The 2 Lens is characterized by higher grade mineralization, including 10.85 meters @ 1.81% Cu; 75.27 ppm Ag; 2.57% Pb; 4.38% Zn; 0.13% Sn, although at this point, the extents of the mineralized envelope are undefined. The new 3D modeling suggests that the Lens is oriented in a non-parallel direction to the 10 Lens, which may explain why previous follow-up drilling did not significantly extend the discovery area. The Company is sending massive sulfide mineralization for analysis from previously-drilled hole SES003, which intersected the 2 Lens, but was never analyzed.
The 10 Lens, as defined by previous drilling, currently measures approximately 400 meters long, 30 meters wide, and tested to a depth of nearly 200 meters. It is open to the south, north, and to depth. The new drilling targets its extension to the north and potential for increasing copper and zinc grades.
The 8 Lens has been tentatively defined by the area between, and including, two drillholes: SES008 and SES009. Located 500 meters apart, SES008 and SES009 contained narrow zones of sulfide mineralization apparently truncated (from the previous interpretation) by faulting. The SES008 intercept included 5.0 meters @ 0.64% Cu; 36.8 ppm Ag; 0.94% Pb; 1.54% Zn. The SES009 drill hole contained 4.0 meters of pyrite mineralization. The new interpretation suggests that the 8 lens is dipping to the northwest, and that SES008 and SES009 intercepted the outer edge of the mineralized lens.
Drill plans for this program include enlargement/upgrade targets on all three lenses. The recent 3D modeling has given good support for placement of drill collars that will potentially upgrade the Sesmarias prospect. Taken together with the possibilities at the historic Lousal Mine, located six kilometers north of the Sesmarias prospect, and at the Monte da Bela Vista stockwork discovery, located two kilometers further north of the Lousal Mine, the Sesmarias area has the potential to become a significant copper and zinc district in the northern part of the Portuguese Pyrite Belt.
Funding for this drilling program is coming from the recently-announced $1.5 million private placement (October 22, 2018). The first tranche of the raise has been completed at $500,000 (November 9, 2018). The second and third tranches are underway. The Company will announce completion of the second tranche in short order.
The Company holds 100% of the Alvalade license. Previous partners have funded 7 million euros of exploration on the Project.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a prospect generator model. The Company holds one 100%-owned, self-funded flagship project, the Alvalade VMS Project. Avrupa focuses its project generation work 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.