VANCOUVER, British Columbia, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (AVU:TSXV) is pleased to provide a corporate update and corresponding goals for the coming year. The Company enters 2020 with the pending startup of work on the flagship Alvalade Joint Venture Project, along with partner, Spanish miner Minas de Aguas Teñidas, SA (MATSA). Startup will occur upon issuance of a new Alvalade Experimental Exploitation License (EEL) in accordance with the present mining law of Portugal. The Mining Bureau has verified that Avrupa’s subsidiary in Portugal has fulfilled all obligations for the EEL application and over the next 30 working days will complete the collection of final social and technical due diligence data for the Alvalade license area.
During 2020, the Company also plans to continue copper-zinc massive sulfide exploration in south Portugal, mostly in the Pyrite Belt around the Marateca and Mertola areas and in the adjoining Ossa Morena Zone which includes the Alvito iron-oxide copper-gold area.
Avrupa plans to re-start work in Kosovo at its wholly-owned Metovit base metals exploration permit, and has an application in to the Government of Kosovo for an attractive gold-silver-base metals area that has been unavailable for exploration for over 10 years. The area has been designated as an “Area of National Interest” due to obvious surface mineralization and the presence of old workings.
The Company continues to review gold project opportunities around Europe and sees a number of promising possibilities in several mining-friendly locales.
Key catalysts and opportunities for Avrupa in 2020 are:
- Startup of Alvalade Joint Venture and positive drill results from the Sesmarias Prospect, the Lousal area, and the Monte da Bela Vista stockwork zone;
- New exploration joint venture(s) in south Portugal;
- Successful application results and license issuance for the Area of National Interest in Kosovo;
- Generative exploration alliance in Kosovo;
- Monetization of the Slivovo NSR;
- Addition of a new gold project in Europe.
Paul W. Kuhn, President and CEO commented, “We are looking forward to the commencement of Alvalade JV work as soon as possible. The past year was difficult for Avrupa, but we stayed the course, upgraded the massive sulfide mineralization at Sesmarias early in 2019, and followed that by signing a Joint Venture with MATSA. We anticipate better conditions for 2020 and will aggressively move forward to re-stock our exploration pipeline with quality projects.”
Avrupa will be a keynote presenter at the “Responsible Business Conduct in Mining” meeting being convened by the Canadian Trade Commission in Prishtine, Kosovo on January 22nd.
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 and Kosovo.
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.