AVPMF - Avrupa Minerals Provides Alvalade JV Update Portugal
(TheNewswire)
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Four holes, totaling 2,693 meters,completed in current phase of exploration drilling;
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Geochemical results from the firstthree holes contain anomalous pathfinder metals, including Au, As, Cu,Mo, Pb, Sb, Sn, Zn, in target black shale horizon, suggestingpotential proximity to massive sulfide targets;
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Sample results from fourth holepending;
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Airborne gravity survey completed,final results pending;
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New ground EM geophysical surveyunderway between Azinheira and Caveira target areas;
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Plans for further exploration holesin present phase of drilling at Caveira, Lousal NW, Monte da BelaVista, Brejo, and Sesmarias target areas underway; expected 4,000 to6,000 meters.
Vancouver, B.C. – TheNewswire - March 3, 2023 – Avrupa Minerals Ltd. (TSXV:AVU) is pleased to provide an update on progress atthe Alvalade JV in the Portuguese Pyrite Belt. The program is ajoint venture between Avrupa Minerals (“AVU” or “Company”) andMinas de Aguas Teñidas, S.A. (“Sandfire MATSA” or “MATSA”). Avrupa continues to operate the project through the JV entityPorMining Lda. Previously, through the JV, at Sesmarias North, theCompany drilled 17 diamond drill holes, totaling 8,900 meters, on sixdifferent fences along a strike length of 400 meters, as well as onefurther drill hole in the Caveira District, totaling 614 meters (seenews release of April 4,2022 ).
The Company has now completed four exploration holes,totaling 2,693 meters, in the current phase of drilling, and started afifth hole. The first two holes tested possible NW strike extensionof the Lousal massive sulfide deposit (LNW22-001) and electromagneticanomalism on a parallel trend to Lousal mineralization (LNW22-002). The third hole targeted a strong geophysical anomaly in mineral-hostblack shales, located about 4 kilometers further north of the LousalNW holes (RAI22-001). The fourth hole tested another geophysicalanomaly in the Casas Novas target sector, two kilometers south of theCaveira Mine area (INC22-001). All four holes cut through weaklymineralized, strongly folded and faulted, target black shales. Geochemical results from sampling of the first three holes suggestproximity to potential massive sulfide systems, particularly in thetwo Lousal NW drill holes. Results from INC22-001 arepending.
Paul W. Kuhn, President and CEO of Avrupa Mineralscommented, “Considering that these holes are exploration holes, weare pleased that all four of the completed drill holes intersectedsulfides in the targeted mineral horizon black shales, of thevolcano-sedimentary rock package. Initial geological observations,interpretations, and trace element geochemistry (in particular,anomalous gold, arsenic, antimony, copper, molybdenum, lead, tin, andzinc) suggest that there is potential for nearby massive sulfidemineralization in the Lousal NW and Casas Novas sectors. Afollow-up, ground electromagnetic survey around the Lousal NW holesindicates the presence of a conductive body located to the west ofLNW22-001. We have just started the fifth hole of this campaign totest that target, and we have a follow-up electromagnetic surveyunderway in the Casas Novas sector.”
Figure 1. Location map for Phase 9 drilling locations, as well as drillhole locations for two historic drill holes included in followinginterpretative geological and targeting cross section.
Figure 2. Schematic cross section showing Lousal NW drilling results,along with historic drilling at Monte da Bela Vista. There is noprevious drilling in the western portion of the section, thus thegeological interpretation is only predictive.
Subsequent to completing the two LNW holes, the Companyperformed a stationary-loop SQUID TEM electromagnetic survey tofurther attempt to identify potential massive sulfide mineralizationin this sector. The survey identified an electrical conductorlocated west of the drilling in favorable geological target area,supported by anomalous base metal results from previous soil samplingwork. Further electromagnetic studies, using a moving electricalloop for more detail, supported the presence of a strong conductor. The schematic location of the conductor is shown in red cross-hatchin the Lousal NW cross section, which will be tested by a new drillhole, LNW23-003. Furthermore, geochemical results from sampling ofthe first two LNW holes suggest the possibility of nearby sulfidemineralization. The Joint Venture continues detailed geochemicalstudies and interpretation covering the use of low-level results fromelements including gold, silver, arsenic, antimony, manganese,molybdenum, thallium, tin, copper, lead, and zinc, to determinepotential proximity to massive sulfide mineralization. In this case,while drilling did not intercept massive sulfide mineralization, theresults from sampling of the weakly mineralized black shales,typically the host rock material for mineral deposits in this portionof the Iberian Pyrite Belt (“IPB”), suggest the presence of thekind of hydrothermal system that forms massive sulfide deposits in theIPB.
The Company continues planning for further drill holesin the target areas between Caveira and Lousal, and will soon returnto the Sesmarias area to start drilling for extensions of the knownmineralization, southwards, and at the Brejo target north of theSesmarias North sector. The Company also expects to receive detailedairborne gravity information, which will enhance the targeting in themain sectors of interest.
Minas de Aguas Teñidas, S.A.(Sandfire MATSA) is a modern mining companywhich owns and operates the MATSA Mining Operations in the Huelvaprovince of Spain. With a processing plant located to the north of theIberian Pyrite Belt that sources ore from three underground mines,Aguas Teñidas and Magdalena Mines in Almonaster la Real and theSotiel Mine in Calañas, Sandfire MATSA produces copper, zinc and leadmineral concentrates that are sold from the port of Huelva. SandfireMATSA also holds 1,312 km 2 of exploration permits in the south of Spainand 1,106 km 2 in Portugal. Sandfire MATSA is a wholly owned company ofSandfire Resources Ltd, a mining and exploration company listed on theAustralian Securities Exchange (ASX: SFR).
Avrupa Minerals Ltd. is a growth-oriented junior exploration and developmentcompany directed to discovery of mineral deposits, using a hybridprospect generator business model. The Company holds one 100%-ownedlicense in Portugal, the Alvalade VMS Project, presently optioned toSandfire MATSA in an earn-in joint venture agreement. The Companynow holds one 100%-owned exploration license covering the Slivova goldprospect in Kosovo, and is actively advancing four prospects incentral Finland through its in-process acquisition of Akkerman FinlandOy. Avrupa focuses its project generation work in politically stableand prospective regions of Europe, presently including Portugal,Finland, and Kosovo. The Company continues to seek and develop otheropportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at1-604-687-3520 or visit our website at www.avrupaminerals.com .
Paul W. Kuhn, President & Director
This news release was prepared byCompany management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a LicensedProfessional Geologist and a Registered Member of the Society ofMining Engineers, is a Qualified Person as defined by NationalInstrument 43-101 of the Canadian Securities Administrators. He hasreviewed the technical disclosure in this release. Mr. Kuhn, the QP,has not only reviewed, but prepared and supervised the preparation orapproval of the scientific and technical content in the newsrelease.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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