Drilling Begins at Slivovo Gold Project, Kosovo 17 drill holes planned, totaling 5,700 meters
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TSX-V: AVU
US DTC: AVPMF
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410 – 325 Howe Street, Vancouver, BC Canada V6C 1Z7 T: (604) 687-3520 F: (888) 889-4874
May 3, 2017 NR 09 - 2017
Drilling Begins at Slivovo Gold Project, Kosovo
17 drill holes planned, totaling 5,700 meters
At least 6 general target areas to be tested
Results-dependent program may have two follow-up phases
Aim to increase the Slivovo resource by at least 250,000 ounces
Avrupa Minerals Ltd. (AVU:TSXV, AVPMF: US DTC) is pleased to announce that the
2017 drilling campaign on the Slivovo Project in Kosovo has started. Peshter Mining
JSC (85% Byrnecut International; 15% Avrupa Minerals) has two core rigs running on
the property drilling multiple targets. As noted in the AVU news release of February 3,
2017, the drilling is planned as a 3 -phase, results -dependent program. The drilling
program is designed to discover, delineate, and define further high grade (defined in the
Slivovo Project Study as 5 g/t gold or greater) gold resources at the Slivovo deposit in
order to potentially create an economic mining solution for the Project. Assuming
continued success, the 3 -phase program aims to add at least 250,000 ounces of gold
from a number of previously -known and new targets located close to and around the
present deposit. Cost estimate for the full 3 -phase program, totaling 30,000 meters, is
approximately C$ 8.3 million. Byrnecut International will fully fund the program.
At this time , Phase One is planned for 17 diamond drill holes, totaling close to 5,700
meters. The targets to be tested include a deep (between 100 and 300+ meters from
the surface) g eophysical anomaly discovered during the 2016 work program, several
shallow (less than 100 meters from the surface) geophysical anomalies, the Sandstone
Gossan, Gossan Extension SE, Main Gossan Offset, the Buena Oro soil anomaly zone,
and the Dzemail Zone.
HOLE ID DIP (°) AZIMUTH (°) TD (m) TARGET
SLV062 -60 245 350 Main Gossan Offset
SLV063 -50 65 400 Main Gossan Offset
SLV064 -50 65 390 Main Gossan Offset
SLV065 -67 55 300 Gossan Extension - SE
SLV066 -60 245 400 Main Gossan Offset
SLV067 -50 190 360 Gossan Extension - SE
SLV068 -50 65 330 Main Gossan Offset
SLV069 -60 245 280 Main Gossan Offset
SLV070 -66 55 200 Gossan Extension - SE
SLV071 -60 245 510 Deep IP anomaly
SLV072 -60 65 500 Deep IP anomaly
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SLV073 -45 235 300 Sandstone Gossan
SLV074 -45 235 300 Sandstone Gossan
SLV075 -45 55 300 Sandstone Gossan
SLV076 -45 55 300 Sandstone Gossan
SLV077 -50 55 250 Buena Oro
SLV078 -50 245 200 Dzemail
17 holes 5,670 6 target zones
Table 1. Phase 1 drill holes with target zones
Figure 1. Phase 1 drill plan showing SLV071 and SLV072 for deep geophysical target and SLV078
targeting the Dzemail Zone.
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Figure 2. Phase 1 drill plan showing SLV062, 063, 064, 066, 068, and 069 targeting the Main Gossan
Offset; SLV065, 067, and 070 targeting the SE Gossan Extension; SLV073, 074, 075, and 076 targeting
the Sandstone Gossan; and SLV077 targeting the Buena Oro zone.
Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, “We are pleased
with our partner’s progress and their commitment to increase the size of the Slivovo
gold deposit to a point where a mining solution can be achieved for the Project. This
phase is a combination of close -in resource up grade and near -resource exploration at
several compelling targets discovered during the previous three years of work at
Slivovo.”
In further corporate activities, t he Board of Directors has approved the issuance of
1,310,000 stock options to directors, of ficers and consultants to purchase common
shares of the Company at an exercise price of $0.10 per share for a period of five
years, expiring on April 26, 2022.
The Company has posted media interviews with Mark Brown, Chairman of the Board,
and CEO Paul W. Kuhn. The interviews may be accessed at:
http://www.avrupaminerals.com/investors/media/ .
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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 countrie s,
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 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 according to the terms of the JV agreement, and Avrupa is
working on a route to consolidation of the property;
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. 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. 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.