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Avrupa Minerals (TSXV:AVU) is pleased to announce new drilling results from the Slivovo Gold project in Kosovo. As part of the Pre-Feasibility Study (“PFS”), Peshter Mining, the joint venture company, drilled 15 holes, mostly for infill and potential increase in the size of the indicated resource of the Gossan Extension Zone.
Avrupa Minerals (TSXV:AVU) is pleased to announce new drilling results from the Slivovo Gold project in Kosovo. As part of the Pre-Feasibility Study (“PFS”), Peshter Mining, the joint venture company, drilled 15 holes, mostly for infill and potential increase in the size of the indicated resource of the Gossan Extension Zone. Peshter Mining also drilled one vertical hole in the Gossan Extension for the purpose of running a downhole geophysical survey, seven hydrological test holes to test water flow in the potential mine area, and seven geotechnical holes to test for rock mechanics and stability information around the edges of the planned mine. Drilling of all types for the PFS is now complete.
Highlights:
Highlights:
- 15 development drill holes and one geophysics hole completed
- Gold and silver assays from first 11 holes include:
- 15 m @ 5.98 g/t Au and 15.89 g/t Ag in DHIP001
- 9.2 m @ 1.53 g/t Au and 10.73 g/t Ag in SLV049
- 12.25 m @ 0.52 g/t Au and 15.81 g/t Ag in SLV050
- 26.4 m @ 2.76 g/t Au and 17.93 g/t Ag in SLV051
- 34.95 m @ 1.07 g/t Au and 11.34 g/t Ag in SLV052
- 37.85 m @ 1.52 g/t Au and 18.07 g/t Ag in SLV054
- 18.7 m @ 2.51 g/t Au and 12.38 g/t Ag in SLV055
- 45 m @ 2.47 g/t Au and 13.45 g/t Ag in SLV056
- Gossan Extension Zone gold mineralization increased to 65
meters strike length; continues open to the east and down dip. - Results from a vertical geophysics hole corroborate surface
geochemical anomalism and find new gold mineralization in the
proper host rocks below thrust fault control - Further results from 5 more holes expected
Assay and geochemical results from the geophysical hole and ten of the infill/development holes are now back from the laboratory. Samples from the remaining five infill/development holes are in process with results expected by the end of the month. Core from the geotechnical holes is in preparation for shipping to a rock mechanics laboratory. When all geotechnical work is complete, the core will be shipped back to the Peshter Mining storage facilities. Depending on location of the geotech holes with respect to already known gold mineralization and visible mineral parameters, subsequent geochemical work may be performed.
Following is a drillhole location map summarizing the total drilling for 2016.
Figure 1. Map of the Gossan Extension development drilling in large black collar locations, located southeast of the high angle fault. The Main Peshter Gossan zone is located northwest of the high angle fault with small black collar locations. Holes in red are geotechnical holes, holes in blue are hydrological test holes, and the green collar location denotes the IP drillhole.
Following is a table with gold and silver results from the development and downhole IP drilling:
Table 1. Gold and silver results for 2016 PFS drilling, to date. Infill/development drilling was designed to confirm continuity of precious metals mineralization in the Gossan Extension Zone, as well as potentially add to the initially-defined indicated resource.
The following figure defines all gold anomalism in drill holes brought to surface view. While gold is present only in amenable host rocks above the low angle reverse fault in the Main Gossan Zone, it does appear that gold mineralization may have additional possibilities in permeable host rocks below the fault in the Gossan Extension Zone, as displayed in the geophysical drill hole DHIP001. Pending drill results from SLV057 through SLV061 may shed light on this potential, as well as the opportunity for extending the Gossan Extension zone further to the east from present 65 meters strike length. The new assay results will be used to update the indicated Slivovo gold resource.
Figure 2. Location of downhole gold mineralization brought to surface view.
Further technical information, including assay results, geochemistry, cross sections, and geological maps will be placed on the Avrupa website once the data is fully available to the Company.
The drilling program is part of the Slivovo Pre-Feasibility Study (“PFS”) being performed by joint venture company Peshter Mining JSC. Peshter Mining is 75% held by Byrnecut International Limited (“BIL”) and 25% by Avrupa Minerals (“Avrupa” or the “Company”) through its 100%-owned subsidiary in Kosovo. BIL is funding the PFS to earn-in to 85% of Peshter Mining and has spent in excess of € 1.1 million this year towards completion of the PFS. The PFS must be completed byApril 10, 2017 according to the earn-in agreement. Concurrently, Peshter Mining is also completing requirements for a mining license application. Presently, timing for submission of the application is Q2/Q3 of 2017.
Other PFS work, on the Slivovo Project continues to move ahead at a rapid pace. We will be meeting with our partners later this month to participate in a full review of the progress at Slivovo and a detailed discussion on plans for the remainder of the earn-in program.
Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, “The first results from the 2016 drilling campaign nicely upgrade and expand the Gossan Extension Zone. We are looking forward to seeing the remainder of the drill results and will update the resource estimate in due course. These new drill results, coupled with a far better understanding of the geology and mineralization parameters, no doubt increase the possibility of finding gold in more areas at Slivovo. We continue to look forward to the rapid and positive progress made by Peshter Mining through the PFS.”
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