VANCOUVER, British Columbia, Oct. 11, 2018 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (AVU:TSXV) (AVPMF:USOTC) (8AM:Frankfurt) is pleased to announce that a drilling program to advance the Sesmarias copper/zinc discovery on its 100%-owned Alvalade Property has been planned for this fall.
Avrupa continues to work on completing its previously announced option agreement with a large international copper producer for three of its projects, including the Alvalade Project (see news release of March 5, 2018). However, due to the significant delays and uncertainty of that transaction being completed, Avrupa’s Board has decided to advance the project in the meantime to ensure that the license is kept in good standing, as required by the Portuguese mining authority, and potentially attract other exploration partners.
Alvalade Project – Copper/Zinc Discovery
Avrupa made a “blind” discovery of copper- and zinc-rich massive sulphide mineralization at the Sesmarias site approximately four years ago. The discovery has only been sparsely followed up due to continuing delays caused by optionee partners.
Avrupa is planning a 2,500 to 3,000-meter drill program to expand currently known mineralized areas and to determine the potential size of the mineralization found to date. Avrupa’s mineralization mix is similar to that of the massive sulphide lenses reported at Martifer’s Aljustrel Mine located less than 40 km away and at Lundin Mining Corporation’s Neves Corvo mine located 70 kms away from Alvalade along the trend of the Iberian Pyrite Belt of south Portugal.
According to Lundin’s 2017 MD&A, the Neves Corvo Mine expects to produce 39,000 to 44,000 tonnes of copper at a cash cost of approximately US$1.30 per pound, and 68,000 to 73,000 tonnes of zinc (cash cost included in the copper figure) in 2018. Neves Corvo had sales of US$328,925,000 in 2017. The style and size of massive sulphide mineralization at Neves Corvo Mine is the targeted model for the Alvalade project.
A summary of the previously announced results from Alvalade under its first optionee partner is presented below:
The Alvalade Project was optioned out to a second partner in Q3 2015. During this earn-in period (2015-17), Avrupa drilled 10 additional holes into various locations in the Sesmarias target area. Four of the holes physically confirmed and extended the SES010 massive sulphide lens to a length of over 300 meters with a 20- to 40-meter true thickness. The lens is open to the northwest and down dip to the northeast. The assays from those four holes are reported below.
|Drill hole ID||From|
|Cu (%)||Pb (%)||Zn (%)||Au (g/t)||Ag (g/t)|
Table 1. 2015-16 drill intercepts from the SES010 lens.
In 2015, in concordance with the drilling campaign, Avrupa conducted downhole geophysical surveys, utilizing the “mise-a-la-masse” (MALM) electrical method. Combined with historic ground magnetics and gravity data, the MALM work suggested that the massive sulphide lens may continue for another 300 meters or more to the northwest from SES022. Recent geochemical sampling, using ultra-trace level detection methods to analyze for base metals and a suite of pathfinder elements, in the area of the original SES002 discovery hole, has demonstrated even further northwest extension potential for the SES010 massive sulphide lens. Technical understanding of the sub-surface geology also suggests a possible extension of the lens to the southeast of up to 100 meters. There is also potential for further extension of the SES002 discovery lens, which now appears to be a separate lens from the SES010 lens. It is common to have multiple massive sulphide lenses in Pyrite Belt deposits.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/66619103-5520-477c-a7d4-95a19865c276
Figure 1. MALM results extend potential of SES010 massive sulfide lens.
In addition to further downdip and strike length massive sulphide targets found along the 1.8-kilometer trend of Sesmarias mineralization, there are at least four other separate, drill-ready targets in the immediate Sesmarias area, a significant target in the Pombal area located about 10 km southeast of Sesmarias, and several targets at the Monte da Bela Vista stockwork discovery located about 10 km north of Sesmarias, all on the Neves Corvo mineral trend. In the upcoming drilling program, the Company intends to drill in the areas of the SES002 and SES010 sulphide lenses and in the four other target areas noted in the following figure.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/0d2346d8-266b-44f9-9178-9d366e6aa1a6
Figure 2. In addition to the 1.8 km long Sesmarias target area, there are four other target zones in the immediate vicinity of Sesmarias: Northern Deep, Eastern Basin, Western Syncline, and Southern Offset.
Furthermore, with completion of recent internal studies of the Sesmarias-Lousal-Monte da Bela Vista area, Avrupa anticipates the potential and possibility of creating a new mineral district that combines the positive results from the Sesmarias area, located seven kilometers south of the old Lousal Mine, to the Monte da Bela Vista stockwork mineralization, located two kilometers north of Lousal, with the Lousal Mine, itself. Review of historic Lousal Mine resource and production reports suggests that copper/zinc-bearing massive sulphide mineralization remains in the immediate area of the historic mine workings. Avrupa will work towards establishing a continuum and enlargement of the massive sulphide mineralization between all three target areas.
To date, 54 holes have been drilled around the license by Avrupa for a total of 21,121 meters. More than 10 of the holes intercepted massive sulphides with various grades of copper, zinc, and lead. At least 75% of the holes contained base metal mineralization in veins and veinlets, often in stockworks, and often containing detectable gold and silver. All the core remains stored in the Avrupa core facilities in south Portugal.
Avrupa Minerals Ltd. 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.
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. Mr. Kuhn, the QP, has not only reviewed the technical disclosures in this release, but prepared and supervised the preparation or approval of the scientific and technical content in the news release. Concerning the historic Lousal Mine, Mr. Kuhn has reviewed two independent, publicly available descriptions of the geology and mineralization of the deposit, as well as supervised and co-authored an internal corporate document describing the geological potential for upgrading and enlarging the quality and size of the Lousal deposit and environs.
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.