Avrupa recovers 100% ownership of Alvalade VMS Project
Avrupa Minerals Ltd. / Avrupa recovers 100% ownership of Alvalade VMS Project . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
- 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
VANCOUVER, British Columbia, June 19, 2017 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (TSXV:AVU) (US DTC:AVPMF) 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:
- 10.85 meters @ 1.81% Cu; 75.27 ppm Ag; 2.57% Pb; 4.38% Zn; 0.13% Sn
- 1.5 meters @ 1.66% Cu; 54 ppm Ag; 2.30% Pb; 3.66% Zn; 0.091% Sn -- mineralization cut off by faulting
- 5.0 meters @ 0.64% Cu; 36.8 ppm Ag; 0.94% Pb; 1.54% Zn - mineralization cut off by faulting
- 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
A photo accompanying this announcement is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/bfb6d85a-f340-45bc-8297-efd1c1aafe22
The Project was optioned out a second time in Q3 2015. During this earn-in period (2015-17), Avrupa drilled four additional holes 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||
|Cu (%)||Pb (%)||Zn (%)||Au (g/t)||Ag (g/t)|
Table 1. 2015-16 drill intercepts from the SES010 lens.
A photo accompanying this announcement is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/f6e7784f-6844-4a83-9772-f420e2c118e0
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 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. 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 Alvalade license, giving a total of 85 km of prospective Pyrite Belt potential on the license.
A photo accompanying this announcement is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/e4c6d5f5-b071-4a10-ab24-792c30e33a13
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%:
- Cash payment of US$ 250,000 on the filing of an initial NI43-101 compliant resource estimate meeting certain minimum criteria;
- Staged cash 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 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.
The Company currently holds nine exploration licenses in three European 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 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 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. 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.
Avrupa Minerals Ltd.
T: (604) 687-3520
F: (888) 889-4874
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Avrupa Minerals Ltd. via Globenewswire
Följ NASDAQ OMX
Skriv in din e-postadress så får du ett mejl när vi har något nytt att berätta.
Senaste pressmeddelandena från NASDAQ OMX
Nasdaq Welcomes Secoo Holding Limited (Nasdaq: SECO) to The Nasdaq Global Market22.9.2017 21:11 | Pressmeddelande
NEW YORK, Sept. 22, 2017 (GLOBE NEWSWIRE) -- Secoo Holding Limited (Nasdaq:SECO), Asia's largest online integrated upscale products and services platform, rang the opening bell at the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Global Market. Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/45f7dc57-524d-4463-a839-d201c341a0f1 http://www.globenewswire.com/NewsRoom/AttachmentNg/149603ca-4949-4531-bf94-aeb6ded2e6df http://www.globenewswire.com/NewsRoom/AttachmentNg/e80a55e0-3858-41cb-80d3-9c9296d6143a Secoo is a consumer-focused online retail platform that offers offline experience centers to provide customer support and membership services. Secoo has built a trusted and comprehensive global supply chain for upscale produ
Alipay teams up with Nordic partners to bring "smart tourism" to Chinese visitors22.9.2017 11:42 | Pressmeddelande
HANGZHOU, China, Sept. 22, 2017 (GLOBE NEWSWIRE) -- Alipay, the world's largest online and mobile payment platform, operated by Ant Financial Services Group ("Ant Financial", "Ant"), today announced that it has signed separate MoUs with Finpro (Finland), Svensk Handel (Sweden) and the Scandinavian Tourist Board, which will enable merchants across Nordic region to accept payment via Alipay and reach Chinese customers before, during and after their visit via Alipay's in-app marketing platform. This will bring Chinese tourists the same convenient payment and travel experience that they enjoy in China. Douglas Feagin, President of International Business, Ant Financial Services Group, said, "Alipay has been leading the trend of smart living in China. People not only use Alipay for payment, but also for settlement of all types of needs in their daily life. As part of our globalization strategy, we are focused on working with local partners to bring this
OpenAire brings in the sun with retractable structures across Europe22.9.2017 08:00 | Pressmeddelande
OAKVILLE, Ontario, Sept. 22, 2017 (GLOBE NEWSWIRE) -- Venues around the world have been thrilled by OpenAire's retractable roof and enclosure designs since 1989. In 28 years, OpenAire's team of experts has completed nearly 1,000 unique retractable roof enclosures and operable skylights for venues of every size and kind internationally, including many groundbreaking designs across Europe. From Russia to warm and sunny Gibraltar, OpenAire has provided many commercial enterprises, resorts and even some private residences with beautiful retractable enclosures that suit their location and climate perfectly. OpenAire works closely with every client from the start, providing them with the flexibility to make their visions a reality. Many clients across Europe have seen increased business and excellent reviews after building an OpenAire solution. Some notable OpenAire designs include: Aqua Sferra's record-breaking 5,667 m2 (60,999 sq. ft.) free-standing aluminum dome housing its indoor
XBiotech to Present at Cantor Fitzgerald's Global Healthcare Conference21.9.2017 14:00 | Pressmeddelande
AUSTIN, Texas, Sept. 21, 2017 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ:XBIT) announced today that management will be presenting at Cantor Fitzgerald's Global Healthcare Conference taking place September 25-27 at the InterContinental New York Barclay Hotel in New York City. Mr. Benjamin Guzman, the Company's Senior Vice President of Corporate Strategy & Finance, will provide a corporate overview on Wednesday, September 27th at 2:50pm Eastern Time. About True Human(TM) Therapeutic Antibodies Unlike previous generations of antibody therapies, XBiotech's True Human(TM) antibodies are derived without modification from individuals who possess natural immunity to certain diseases. With discovery and clinical programs across multiple disease areas, XBiotech's True Human antibodies have the potential to harness the body's natural immunity to fight disease with increased safety, efficacy and tolerability. About XBiotech
At the 10th anniversary of the iPhone, Chairman of Pilatus Bank draws a stark comparison of the role technology has played in banking vs telecommunication21.9.2017 08:58 | Pressmeddelande
LONDON, Sept. 21, 2017 (GLOBE NEWSWIRE) -- Ali Sadr, Chairman of Pilatus Bank, believes that banks have failed to capture the true essence of technology for improving quality of service, as well as lacking the vision necessary to capture customers' imaginations. Meanwhile, other industries have been revolutionized and continue to thrive by the same technology. America has in the last 10 years been forced to close 10,000 branches. Since 2008, Europe has lost close to 48,000 branches, which is more than 20% of its branch network. There is little doubt that branch banking is on the decline, and online banking is failing to provide a quality service. As we mark the 10th anniversary of the iPhone, Ali Sadr, Chairman of Pilatus Bank, gives a sobering count of the current state of affairs in the use of technology among well established banks, and elaborates on a vision that has the potential to become the largest revolution the banking industry is yet to experience. Chairman Al
Immunicum AB (publ) to Present Preclinical Data on Ilixadencel's Mode of Action at the SITC Meeting in the US21.9.2017 08:00 | Pressmeddelande
Press Release 21 September 2017 Immunicum AB (publ) to Present Preclinical Data on Ilixadencel's Mode of Action at the SITC Meeting in the US Immunicum AB (publ; First North Premier: IMMU.ST) a biopharmaceutical company advancing a novel immune-priming cancer treatment against a variety of solid tumors, today announced that the Society for Immunotherapy of Cancer (SITC) has accepted an abstract on ilixadencel's mode of action for a poster presentation at the SITC 32 nd Annual Meeting, held November 8-12, 2017 at the Gaylord National Hotel & Convention Center in National Harbor, Maryland. The poster titled "In vitro mode of action of ilixadencel - a cell-based allogeneic immune primer for intratumoral administration" will be presented by Immunicum's Chief Scientific Officer, Alex Karlsson-Parra. Immunicum will announce the complete data through a press relea
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum