Avrupa recovers 100% ownership of Alvalade VMS Project
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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
June 19, 2017 NR 11 - 2017
Avrupa recovers 100% ownership of Alvalade VMS Project
Past Sesmarias results over 1.8 km strike length
Copper, lead, zinc in drill core, with gold & silver
20 km NW of Almina’s Aljustrel Mine
60 km NW of Lundin Mining’s Neves Corvo Mine
Avrupa Minerals Ltd. (AVU:TSXV, AVPMF: US DTC ) is pleased to announce that it
has recovered 100% ownership of the Alvalade VMS copper/lead/zinc Project, in the
Iberian Pyrite Belt of southern Portugal. Avrupa has signed agreements with two former
partners that transfer the outstanding 60 % ownership of the project back to Avrupa in
return for certain debts being forgiven to one partner, and future success-based
payments to another former partner. Avrupa now holds 100% of the Alvalade Project.
About the Alvalade Project
Avrupa acquired the Alvalade Project in 2010 and initially optioned it out in 2012, but
has been the operator of the project since acquisition. During that first earn-in period
(2012-15), an initial hole, SES002, was drilled into the Sesmarias target and intersected
10.85 meters of 1.81% copper, 2.57% lead and 4.38% zinc . Drilling encountered
numerous faults , but subsequent holes hit mineralization, on and off, over a 1.8
kilometer strike length, including SES010 which intersected 58 meters of 0.32%
copper, 0.61% lead, 1.95% zinc, 0.45 g/t gold, 25 g/t silver.
A summary of some of the previously announced results from Alvalade is presented
below:
SES002 – 10.85 meters @ 1.81% Cu ; 75.27 ppm Ag; 2.57% Pb; 4.38% Zn; 0.13%
Sn
SES006 – 1.5 meters @ 1.66% Cu; 54 ppm Ag; 2.30% Pb; 3.66% Zn; 0.091% Sn --
mineralization cut off by faulting
SES008 – 5.0 meters @ 0.64% Cu ; 36.8 ppm Ag ; 0.94% Pb ; 1.54% Zn –
mineralization cut off by faulting
SES009 – 2.3 meters of massive pyrite (not analyzed)
SES010 – 57.85 meters @ 0.45 g/t Au; 25.1 g/t Ag; 0.32% Cu; 0.61% Pb; 1.95% Zn
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Figure 1. Summary of drilling SES001 thru SES014
The Project was opt ioned out a second time in Q3 2015. During this earn-in period
(2015-17), Avrupa drilled four additional hol es into the Sesmarias target area that
confirmed and extended one massive sulphide lens in the area to a length of 300 +
meters with a 20-40 meter 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
(m)
To
(m)
Intercept
(m) Cu (%) Pb (%) Zn (%) Au (g/t) Ag (g/t)
SES019 263.50 315.20 51.70 0.44 0.75 2.71 0.40 17.35
including 264.15 299.05 34.90 0.40 0.99 3.46 0.38 20.67
and including 280.45 290.95 10.50 0.36 1.71 5.18 0.37 21.71
SES020
277.85 287.55 9.70 0.25 0.57 0.99 0.47 24.70
297.70 319.95 22.25 0.55 0.59 0.66 0.53 20.54
325.00 334.10 9.10 0.32 0.14 0.52 0.68 11.31
337.85 356.65 18.80 0.33 0.14 0.64 0.26 6.40
SES021 262.85 277.65 14.80 0.36 0.29 0.40 0.43 9.82
SES022 323.90 376.00 52.10 0.43 0.49 0.98 0.62 17.31
Table 1. 2015-16 drill intercepts from the SES010 lens.
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Figure 2. Summary of drilling SES015 to SES022
In 2015, Avrupa conducted downhole geophysics, utilizing the “mise -a-la-masse”
(MALM) method, and combined with historic ground magnetics data, suggested that the
sulfide lens may continue another 300 meters or more to the northwest from SES022.
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 sulfides with various grades of
copper, lead and zinc. Details of those results are on the Avrupa’s website at
www.avrupaminerals.com under the “Alvalade Project” tab.
Avrupa is in the process of re-assembling and reviewing all of the previous data on the
Alvalade project and will report its plans for the project for 2017 shortly.
There are at least four other separate targets in the immediate Sesmarias area, a
significant target in the Pombal area located about 15 km sout heast 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. Numerous general targets
exist on the Aljustrel mineral trend, on the São Domingos mineral trend, and in several
other areas along the Neves Corvo mineral trend. All three mineral trends cut the
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Alvalade license, giving a total of 85 km of prospective Pyrite Belt potential on the
license.
Figure 3. Three Pyrite Belt mineral trends cross the Alvalade Project,
noted by dashed red (Neves Corvo), blue (Aljustrel), and green (São
Domingos) lines.
Terms of the Agreements with the former Partners
Avrupa has agreed to forgive approximately 160,000 euros in debts, assume a deposit
on the project of 75,000 euros, and make the following payments to the initial partner on
the project in return for increasing its interest in the project from 40% back to 100%:
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Cash payment of US$ 250,000 on the filing of an initial NI43 -101
compliant resource estimate meeting certain minimum criteria;
Staged c ash payments totaling US$ 1,000,000 on the completion of a
NI43-101 compliant feasibility study meeting certain minimum criteria ;
and
Staged cash payments totaling US$ 3,000,000 on the commencement
of commercial production from the project.
Avrupa Minerals Ltd. is a growth -oriented junior 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 km2. Avrupa has three joint ventures, two in Portugal and one in
Kosovo, including:
The Alvito Option Agreement with Oz Minerals Ltd. covering one license in the
Ossa Morena Zone in southern Portugal, for IOCG deposits;
The Alvalade Project, owned 100% by Avrupa.
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 op erating 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. 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 Mine rals, 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
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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.