Mr. Paul Kuhn reports
AVRUPA PROGRESS AT THE ALVITO IRON OXIDE COPPER-GOLD PROJECT, PORTUGAL
Avrupa Minerals Ltd. has provided an update on progress at the Alvito project located in south Portugal.Exploration work is financed by Oz Minerals, who must spend $1-million (Australian) to earn-in to 51 per cent of the 300-square-kilometre project.To date, Avrupa has completed ground magnetics and gravity geophysical surveys, geological mapping, rock-chip sampling, and drill targeting.Originally, a 1500-metre drilling program was slated to be completed during Q3/Q4 2017, but continuing ground exploration work continued right up until the end of the year.Successful targeting suggests that there may be reason to increase the proposed amount of drilling to 2,000 metres to 2,500 meters.
The following table summarizes the targeting process at Alvito.Most exploration at Alvito has concentrated on the southern half of the licence where numerous copper prospects along two subparallel, 10-kilometre-long, north-northwest-trending structures highlight the potential for copper-gold mineralization.However, latest work in the north after completion of the geophysics also suggests that there is potential for copper mineralization in a number of areas there, as well.
Target nameTarget type Target nameTarget typeEntre Matinhas Central Magnetite breccia Monte da AguaQuartz vein/faultEntre Matinhas North Magnetite breccia Monte do Outeiro (North) Dikes and faultManisela South Fault (gossan)Monte do Outeiro (South)Fault and gossanCova Das MinasQuartz vein and fault zone AlbardeirosFault and dikesManisela North Fault, quartz vein and gossan Pego do CoitoFault and dikesEntre Matinhas South FaultPoco Malhada Mafic dykes and contactsRibeira Dikes and faults MachoqueiraContactManisela EastFault, breccia and gossan Poco dos EucaliptosContact and faultDefesa Grande Contact and faults Area 1440Faults?Mata Contact and fault intersection;Vale da RataContacts? magnetite breccia and quartz veinEntre As Matas (North) Fault Entre Matinhas EastVisit necessaryVale NogueiraQuartz vein and faultEntre as Matas SouthVisit necessaryEntre As Matas (South) FaultDefesa Grande EastVisit necessary Nogueira Fault and quartz vein
The target table is a list of Alvito targets presently under consideration.Highest-priority areas to date, based on results from geochem, geophysics and geologic mapping, are shaded for emphasis.
Recent rock-chip sampling and mapping suggest new targets in several areas, particularly around the Mata and Monte do Outeiro targets where geochemical anomalies in gold, copper, bismuth, molybdenum, tungsten, lead and zinc suggest the presence of a previously unsuspected, potentially mineralized, buried felsic intrusion.Gold and copper anomalism associated with magnetite breccias and gossans at the Entre Matinhas, Entre as Matas, and Manisela target areas are also high on the targeting list for the coming drill campaign.A number of copper-bearing quartz vein occurrences in the Nogueira and Vale Nogueira areas suggest further target possibilities in larger, less-explored parts of the Alvito licence.The following is a table of recent rock-chip sampling results for gold and copper from a work order of 50 rock and qualitycontrol/quality assurance samples.
Sample SiteAu ppmCu ppmMonte do Outeiro1.47513,950 Monte do Outeiro 0.58 4,080 Monte do Outeiro 13.1 5,820Monte do Outeiro0.237 6,960Monte do Outeiro 0.27 2,910Monte do Outeiro0.009 3,140Pego do Coito 0.025 5,320 Mata0.888 823Mata0.017 1,445 Mata 0.0511,150 Mata 0.3329,500 Mata 4.53 7,900Cova das Minas -0.005 1,240Monte da Agua 0.046 1,270Monte da Agua 0.035 1,890Monte da Agua 0.008 1,740Vale Nogueira 0.07726,400Vale Nogueira 0.06723,500 Nogueira0.02820,200 Nogueira0.07226,100Manisela -0.005 6,750Manisela 0.5111,100Manisela0.338 5,080
The sample table is apartial list of recent results for rock-chip sampling around the Alvito licence.Gold and copper results clearly upgrade these target areas.Further ground work will continue as part of the drill targeting process.Note consistent detectable gold values (up to 13.1 ppm) and high copper values (up to 2.95 per cent) at Mata and Monte do Outeiro.Samples were prepared by ALS Minerals in their Seville, Spain, facility and analyzed by ALS Minerals in their Loughrea, Ireland, analytical laboratory to industry standards, including use of standard QA/QC protocols.
Paul W. Kuhn, president and chief executive officer of Avrupa Minerals, commented: "With the financial and technical support of our partner Oz Minerals, we have made real progress in the Alvito project area.This is probably the first, truly systematic exploration of the area, and results of the first and second pass exploration work demonstrate the potential for copper and gold mineralization in a number of areas.Field targeting will continue until expected startup of drilling around the end of March, or end of the rainy season."
Avrupa Minerals 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.
The company currently holds nine exploration licences in three European countries, including six in Portugal covering 3,271 square kilometres, two in Kosovo covering 47 square kilometres, and one in Germany covering 307 square kilometres.Avrupa now has three active option and joint venture agreements, two in Portugal and one in Kosovo, including:
The Alvito option agreement with Oz Minerals covering one licence in the Ossa Morena zone in southern Portugal, for IOCG deposits; The Covas joint venture, with Blackheath Resources, covering one licence in northern Portugal, for intrusion-related W deposits; Avrupa's partner at the Slivovo gold project in Kosovo is fully financing the program, allowing Avrupa to dilute its ownership in the JV operating company Peshter Mining JSC.If AVU ownership goes below 10 per cent, the interest in the project converts to a 2-per-cent net smelter return.
In addition, in the Iberian pyrite belt of south Portugal, the company has the Alvalade VMS project, now 100-per-cent owned by Avrupa, where previous partners have spent over $7.6-million (U.S.) on exploration for VMS copper, zinc and lead mineralization, resulting in discoveries at Sesmarias and Monte da Bela Vista.
Avrupa is currently upgrading precious and base metal targets to JV ready status in a variety of districts on their other licences, with the idea of attracting potential partners to project-specific and/or regional exploration programs.
This news release was prepared by company management, who take full responsibility for its content.Paul W. Kuhn, president and chief executive officer 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.
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