Nov 17 2015
Avrupa Minerals Ltd. is pleased to report on progress at its Alvito Project in southern Portugal. In June 2015, the Company announced an earn-in joint venture with Lowell Copper on the Alvito Project (see AVU news release of June 22, 2015). However, Lowell has now decided to terminate its option on Alvito to focus work on its Warintza project in Ecuador. During the short period of the joint venture, Lowell funded approximately 137,000 euros of exploration work on the project.
Paul W. Kuhn, President and CEO of Avrupa, commented, "We thank Lowell Copper's team for their support in both funding and technical matters while advancing the Alcaçovas iron oxide copper-gold target within the license area. We will utilize the results of the work to continue to upgrade Alcaçovas, as we also upgrade several other important targets around the license."
During Q3 at Alcaçovas, Avrupa completed further geological mapping, in-fill soil sampling, and sub-surface rock sampling, utilizing a portable drill rig to access down to a maximum of approximately 20 meters depth. The Company drilled 29 short holes, totaling 356 meters, at eight targets located along two sub-parallel trends of strong copper-in-soil anomalism. Each trend is approximately three kilometers long. Twenty-two of these holes intercepted visible copper mineralization, with the best results including 10.5 meters of 0.43% copper in Hole 23 and 5.5 meters of 0.49% copper in Hole 28. Single sample values reached 0.89% copper and 0.53 g/t gold. With this limited work, the Company has defined an initial target area along the west zone, 1000 meters long and 200 meters wide, open at both the north and south ends. Drilling, to date, on the east trend was insufficient to define a true IOCG target.
Avrupa will continue to upgrade the license with further short hole drilling, totaling 320 meters, on a number of other targets that were not addressed in the recent work. Previously, the Company inventoried more than 25 other targets on the Alvito license, several of which will be included in the new work over the next few weeks. The Company plans to aggressively market the project over the coming months.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/avu1116fig1.pdf.
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/avu1116fig2.pdf.
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/avu1116fig3.pdf.