Avrupa Minerals Signs Definitive Earn-In/Joint Venture Agreement with MATSA For Alvalade Project
- Minas de Aguas Teñidas, S.A. (MATSA) operates three Copper-Zinc-Lead mines in the Iberian Pyrite Belt.
VANCOUVER, British Columbia, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (TSXV: AVU) (US OTC:AVPMF) (FRANKFURT:8AM) is pleased to report that it has signed a definitive agreement with Minas de Aguas Teñidas, S.A. (“MATSA”) to form an earn-in exploration and exploitation joint venture on its Alvalade copper-zinc Project in the Iberian Pyrite Belt of southern Portugal.
The Joint Venture company (“Newco”) will now be set up, and an application made to the Mining Bureau of Portugal to complete the process of issuing the new Alvalade Experimental Exploitation License (“EEL”) to Newco, as conditions precedent to completing the agreement.
The terms of the MATSA Earn-in/Joint Venture Agreement have already been published via Avrupa Minerals news release on October 1, 2019. A copy of the news release may be found on Avrupa’s website at www.avrupaminerals.com.
Paul W. Kuhn, President and CEO of Avrupa Minerals, stated, “The signing of the Alvalade Agreement with MATSA is another positive milestone for the Project and for Avrupa Minerals. We are extremely pleased to be working with MATSA who already has three operating copper, zinc, and lead mines in the Iberian Pyrite Belt of Spain. We are looking forward to getting back to advancing the Sesmarias prospect at Alvalade, as well as potentially advancing several nearby prospects at Monte da Bela Vista and Lousal.”
Exploration Plans
The most recent drilling at the Sesmarias copper-zinc prospect, within the Alvalade License, demonstrated the potential for a large area of massive sulfide mineralization at Sesmarias. Presently, geological parameters of the 10 Lens suggest a mineralized body at least 600 meters long x 300 meters wide x 25 meters thick. Drill intercept grades averaged 0.35 – 0.5% copper and 0.4 - 1 g/t gold in just six holes along the strike length of presently known mineralization.
The aim of the first stage of this agreement with MATSA is to delineate a deposit at Sesmarias or at other targets within the Alvalade license with a significant drill program. Some of those other targets include the past-producing Lousal Mine, the Monte da Bela Vista stockwork zone, and at the past-producing Caveira Mine.
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 1,000 km2 of exploration licenses in the Iberian Pyrite Belt. 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 pioneering global investor, and Trafigura, one of the world’s leading independent commodity trading and logistics 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, presently self-funded, flagship project in Portugal, the Alvalade VMS Project. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, including Portugal and Kosovo, and is presently reviewing new opportunities elsewhere around the continent.
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. Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
