Avrupa Minerals Options Alvito IOCG Project to OZ Minerals
1
TSX-V: AVU
US DTC: AVPMF
FRANKFURT: 8AM
410 – 325 Howe Street, Vancouver, BC Canada V6C 1Z7 T: (604) 687-3520 F: (888) 889-4874
April 10, 2017 NR 06 - 2017
Avrupa Minerals Options Alvito IOCG Project to OZ Minerals
Joint Venture to target copper-gold mineralization in Alcaçovas target, Portugal
OZ Minerals Ltd. may earn-in up to 75% over 2½ years by spending AUS$4 million.
Avrupa’s geological team in Portugal will be the first-stage operator
Avrupa Minerals Ltd. (AVU:TSXV) is pleased to announce that it has signed a n earn-
in option agreement with Australia -based O Z Exploration Pty. Ltd. (OZE), a wholly -
owned subsidiary of O Z Minerals Limited (OZM), to explore on the Alvito iron oxide,
copper-gold (IOCG) project located in southern Portugal. The agree ment allows for
OZE to earn up to a total 75% interest in the project by spending AUS $4,000,000 over
approximately 2½ years.
Paul W. Kuhn, President & CEO of Avrupa Minerals, commented, “We are excited to be
able to start the new exploration program on the Alvito project with Australian copper
miner OZ Minerals. The OZ Minerals exploration team has significant IOCG exploration
experience around the world. This is Avrupa’s first IOCG target in Portugal, and we
look forward to quickly moving the program ahead.”
Concurrently, the Portuguese Mining Bureau (DGEG) is sued a 30 -month extension to
the Alvito exploration license on March 10, 2017. Previously, Avrupa, along with earlier
partners, spent over 450,000 euros on the license and developed a central IOCG target
area covering 4 x 2.5 kilometers along the 24 x 4 kilometers Alca çovas Copper Belt .
Exploration work led to the discovery of mineralized stratigraphy beneath 3-10 meters of
soil cover through a 29 -hole, top -of-bedrock, drilling program completed during 2015.
Other IOCG target areas occur along the Alcaçovas trend but have not been explored to
date.
The new e xploration program will commence in April 2017, and will include geological
mapping, surface sampling, geophysics, further targeted top-of-basement sampling, and
a drilling program. Details of the full program and targets will be announced soon.
Alvito IOCG project, Portugal
The newly-extended Alvito license covers approximately 300 square kilometers of
prospective ground along the Alcaçovas copper -gold trend identified by Avrupa
geologists in 2011 -12. Subsequent field work was successful in identifying potential for
significant copper-gold-silver mineralization in known and several new occurrences.
2
Many of the copper -gold-silver occurrences that were visited during the recon prog ram,
starting in 2012, lie within a 24 -kilometer long, 4-kilometer wide belt, designated as the
Alcaçovas Copper Belt (ACB), and defined by anomalous copper and zinc soil
geochemistry from over 66,000 soil samples collected by previous operators in the
district. Avrupa’s review of the area suggested that c lassification of the deposits should
be interpreted as IOCG type.
Avrupa geologists collected 274 rock chip samples on the original license between 2012
and 2015, centering around 16 separate prospect ar eas. A total of 32 (11.7%) of these
samples contained greater than 0.4 ppm gold, up to 6.43 ppm gold. Forty (15%) of the
samples contained greater than 5 ppm s ilver, up to a high value of 829 g/t silver. 105
(38%) of the samples carried greater than 0.1% copper, including 40 samples with
greater than 1% copper , up to a maximum value of 27.4% copper . Others carry
strongly anomalous lead, zinc, and molybdenum values.
In 2015, Avrupa , funded by a previous partner, drilled 29 top -of-bedrock core holes in
the central Alcaçovas target zone. Twenty-two of these holes intersected visible copper
mineralization, associated with magnetite veining and alteration normally found with
IOCG systems, beneath the shallow cover to a depth of <20 meters below the surface.
Terms of the Agreement
Avrupa and OZ Minerals signed the Option Agreement on April 5, 201 7 under the
following terms:
For OZE t o earn a 51% interest in year 1 : Fund AUS$1,000,000 in exploration
expenditures.
For OZE t o earn a further 24% interest (total of 75% interest) by September 30,
2019: Fund a further AUS$3,000,000 in exploration expenditures.
Avrupa will be the operator during the first earn -in stage with active technical
support and oversight from OZE’s experienced IOCG team.
OZ Minerals Limited is a copper-focused mining company that operates the Prominent
Hill copper mine in South Australia and is developing the Carrapateena copper gold
project in the same region. OZ Minerals’ growth strategy includes developing a pipeline
of exploration stage projects in Australia and elsewhere around the world partnering
with experienced exploration companies.
Avrupa Minerals Ltd. is a growth -oriented exploration and developme nt company
focused on discovery, using a prospect generator model, of valuable mineral deposits in
politically stable and prospective regions of Europe, including Portu gal, Kosovo, and
Germany.
The Company currently holds nine exploration licenses in three Eur opean countries,
including six in Portugal covering 3,268 km2, two in Kosovo covering 47 km2, and one in
Germany covering 307 km 2. Avrupa now has four active option and joint venture
agreements, three in Portugal and one in Kosovo, including:
3
The Alvito Option Agreement with OZ Minerals Limited covering one license in
the Ossa Morena Zone in southern Portugal, for IOCG deposits;
The Alvalade JV, with Colt Resources, covering one license in the Iberian Pyrite
Belt of southern Portugal, for Zn/Cu-rich massive sulfide deposits. The partner is
currently in default under the terms of the JV agreement, and Avrupa is working
on a route to consolidation of the program;
The Covas JV , with Blackheath Resources, covering one license in northern
Portugal, for intrusion-related W deposits; and
Avrupa’s partner at the Slivovo Gold Project in Kosovo is fully funding the
program, allowing Avrupa to dilute its ownership in the JV operating company
Peshter Mining JSC. If AVU ownership goes below 10%, the interest in the
project converts to a 2% NSR.
Avrupa is currently upgrading precious and base metal targets to JV -ready status in a
variety of districts on their other licenses, with the idea of attracting potential partners to
project-specific and/or regional exploration programs.
For additional information, contact Avrup a Minerals Ltd. a t 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 t he 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.