Avrupa Minerals Ltd. 2023 Progress and 2024 Plans

Avrupa Minerals Ltd. 2023 Progress and 2024 Plans

 

(TheNewswire)

 
     
  Avrupa Minerals Ltd. 
          
 

 

 

Vancouver, BC TheNewswire February 21, 2024 - Avrupa Minerals Ltd. (AVU:TSXV) is pleased to report on its progress during 2023 on programs in Portugal, Kosovo, and Finland, as well as comment on expected programs for 2024.  The Company's projects in Kosovo and Portugal are fully-funded by Joint Venture partners.  The Company is seeking a potential joint venture entity for its program(s) in the Vihanti-Pyhäsalmi VMS District, Central Finland.

 

  Paul W. Kuhn, President and CEO of Avrupa Minerals ("AVU" or "Company"), noted, "Strong progress in deposit definition work at the Sesmarias copper-zinc-lead Project in Portugal during 2023 will be the underpinning for an aggressive drilling program in the SES Central Zone starting in Q2 2024.  

 

  After a successful PEA and Mineral Resource Estimate upgrade at the Slivova Project in Kosovo during 2023, we are looking forward to further upgrade of the precious metal inventory in and around the deposit, itself, as well as continued progress in the ESG aspects of the Project.  

 

  In Finland, we acquired new massive sulfide licenses in a well-endowed mining district, defined new drilling targets at one former producer, discussed the potential of acquiring several other VMS base metal targets, and commenced search for viable joint venture partners to advance the program there."  

 

  Portugal  

 

  Drilling continued throughout the year around the Alvalade pre-exploitation license in several target areas, including Caveira South, Casas Novas, Lousal Northwest, Brejo, and Sesmarias.  The Company drilled 14 holes totaling 6,530 meters in 2023:  two at Caveira South, one at Casas Novas, four in the Lousal Northwest area, one at Brejo, and six in the Sesmarias massive sulfide VMS deposit area.  

 

    
Click Image To View Full Size
 

 

  Figures 1, 1a.   2023 drilling along trend of Pyrite Belt mineralization within the Alvalade JV license, with Sesmarias enlargement.  Background data from 2020-21 helicopter-supported VTEM project.  Intense electromagnetic response to railroad tracks and power lines in linear purple colors.  

 

  The highlight of the 2023 drilling program was the re-discovery of the high-grade copper-zinc-lead-silver mineralization at Sesmarias in SES23-047 (see AVU news release   June 12, 2023   ).  Follow-up drilling at Sesmarias confirmed potential for more high-grade massive sulfide and stockwork mineralization in the Central Zone at Sesmarias (see AVU news release   November 28, 2023   ).  The success of the Sesmarias drilling underlies potential for the next phase of drilling there, tentatively commencing in Q2 of 2024.  This phase will be aimed at defining the high-grade mineralization located in/around the hinge of the Sesmarias Syncline, particularly along strike between the 250 South and 800 South section lines, noted in the figures below.  Plans for the next phase are underway.  

 

  To enhance targeting at Sesmarias, The Company performed an IP-Resistivity survey at the end of 2023 covering Sesmarias Central and Northern Zones and the Brejo target area just north of Sesmarias.  Results are presently under evaluation, particularly for the North area and for the Brejo area where we have less historic drilling information.  The level of success in the coming phase of drilling will determine how best to move towards a mining license application which will be necessary in the first half of 2025.  

 

    
Click Image To View Full Size
 

 

  Figure 2.   Sesmarias section lines, AVU generated.  Drillholes in red were completed during 2023 drilling program.  Coordinate system, UTM Zone 29 (ED50).  

 

    
Click Image To View Full Size
 

 

  Figure 3.   Known massive sulfide mineralization at Sesmarias, open both north and south.  Drilling in the upcoming phase will target potential high-grade mineralization in the Central Zone between 250 South and 800 South sections.  Modeling and interpretation of accumulated data suggests that strong, polymetallic VMS mineralization is hosted in and close to the hinge of the Sesmarias Syncline.  UTM Zone 29 (ED50).  

 

  Drilling in the northern target areas of the Alvalade license was less successful than at Sesmarias.  Drilling intersected narrow lenses of polymetallic sulfide mineralization in both Caveira South drill holes and wispy, distal facies, replacement sulfide mineralization in the Casas Novas drill hole.  We hope to do follow-up drilling in both   areas at some point in the future, but there are no plans for this in the up-coming drilling phase.  Drilling at Lousal Northwest intercepted the mineral horizon black shales, but no significant sulfide mineralization.  

 

  The Alvalade project is a joint venture between Avrupa Minerals and Minas de Aguas Teñidas, S.A. ("Sandfire MATSA" or "MATSA"). Avrupa continues to operate the project through the JV entity PorMining Lda., and MATSA continues to fund the exploration work.  

 

  Kosovo  

 

  Work continued at the Slivova gold-silver project in Kosovo during 2023, undertaken by partner Western Tethyan Resources, and supported by 70%-owner Ariana Resources.  Highlights of the work included the completion of a NI 43-101 Preliminary Economic Assessment (PEA) study that included a significant mineral resources' upgrade (see AVU news releases   July 17, 2023   and   September 6, 2023   for further, detailed information and notes concerning QP sign-off).  

 
  •  

    Global in situ gold resource increases by 78% over original MRE

     
  •  
  •  

    Global in situ silver resource increases by 113% over original MRE

     
  •  
  •  

    New MRE figures:

     
    •  

      Measured Resources:  835,000 mt @ 4.3 g/t Au and 15 g/t Ag

       
    •  
    •  

      Indicated Resources:  296,000 mt @ 3.6 g/t Au and 15 g/t Ag

       
    •  
    •  

      Inferred Resources:  250,000 mt @ 3.7 g/t Au and 13 g/t Ag

       
    •  
  •  
  •  

    4,500-meter drilling program planned for the next phase of field work, which will include resource infill drilling and exploration drilling around the license

     
  •  

  Western Tethyan also commenced environmental and social baseline studies in the project area, committing to a strong and positive social relationship with the communities around the project area, and performed exploration rock and soil sampling around the license to help identify satellite deposits.  The government issued trenching and drilling permits for this year, and Western Tethyan is in the midst of planning and budgeting for the 2024 program.  Work planned, in addition to continued environmental and social licensing, includes trenching over several untested targets and exploration drilling outside of the main deposit in efforts to increase the mineral resources.  Eventually, there may be some infill drilling completed in 2024, as well.  We anticipate that Western Tethyan will perform the necessary work to reach the 51% ownership level of the license during 2024, as required by the JV agreement (see news release of   May 9, 2023   ).  

 

  Finland  

 

  During 2023, Avrupa's 49%-held Akkerman Finland Oy (AFOy) continued to advance the exploration program in the Vihanti-Pyhäsalmi VMS District of central Finland.  The joint venture now holds two exploration permits covering known massive sulfide deposits (Kangasjärvi and Hallaperä), an application over a massive sulfide deposit (Rauhala), and an exploration permit covering a massive sulfide target (Kolima) that has been approved by the mining bureau, but not yet issued due to appeals court handling of the process.  

 

  Basic exploration work, continued review of historic core and geophysical data, and modeling of SkyTEM data from the Kangasjärvi license suggest an outstanding un-drilled target close to the old Kangasjärvi Mine.  The joint venture is making plans for drilling at the target in 2024.  There are further SkyTEM anomalies that may rate drilling after planned exploration work during the up-coming field season.  

 

    
Click Image To View Full Size
 

 

  Figure 4.   Map of Vihanti-Pyhäsalmi VMS District with AFOy-AVU holdings and location of the two major mines, Pyhäsalmi and Vihanti.  

 

   

 

  Figure 5.   Plan view of the Kangasjärvi SkyTEM drill target, showing a strong conductor northwest and across a major area fault from the historic Kangasjärvi Mine.  Most of the conductor has never been drilled.  

 

    
Click Image To View Full Size
 

 

  Figure 6.   Kangasjärvi SkyTEM drill target, section view.  The joint venture plans three diamond drill holes totaling 1000 meters later this year.  There are other SkyTEM anomalies around the license that may become drill-ready later this year.  

 

  AFOy officially acquired the Hallaperä exploration license in the past year.  The license covers a known massive sulfide deposit discovered by Outokumpu in 1967.  The deposit is 1,500 meters long and ranges from two to 18 meters thick.  It remains open at depth below 200 meters from the surface.  The most recent drilling, in 1990, cut 1.85 meters @ 1.72% Cu, 1.7 g/t Au, and 44 g/t Ag, with no further work completed since that time.  

 

   

 

  Figure 7.   Copy of the original geological map of the Hallaperä VMD deposit.  

 

  The Finnish mining bureau recently awarded an exploration permit to AFOy for another license covering a massive sulfide deposit near the historic Vihanti Mine.  The Rauhala deposit was discovered in 1985 by the Finnish Geological Survey (GTK), and later worked by Outokumpu Oy.  It measures nearly 600 meters long and 350 meters wide and averages about 2 meters thick, as presently known.  Virtually no work on the deposit has been completed in the past 20-25 years.  

 

   

 

  Figure 8.   Plan view of the Rauha Deposit (blue/black/yellow lenticular outline).  The deposit was discovered via a zinc anomaly in till material, and is covered by 2-20 meters of till at its closest point to the surface.  

 

   

 

  Figure 9.   Section view of the sediment-hosted Rauhala Deposit, sub-cropping under 2 to 20 meters of till.  

 

  Upcoming Events  

 

  Avrupa will attend PDAC and participate in the Western Tethyan and Europe Session, organized by Mundoro Capital on Sunday morning, March 3   rd   , at 8-12 am in Room 206D.  We have accepted an invitation to present updated information about the Company's Sesmarias Joint Venture Project.  Later, Avrupa will display Sesmarias core at Booth # 2614B, Tuesday and Wednesday, March 5   th   and 6   th   in the main investor's hall at the Conference.  

 

  Minas de Aguas Teñidas, S.A. (Sandfire MATSA)   is a modern mining company which owns and operates the MATSA Mining Operations in the Huelva province of Spain. With a processing plant located to the north of the Iberian Pyrite Belt that sources ore from three underground mines, Aguas Teñidas and Magdalena Mines in Almonaster la Real and the Sotiel Mine in Calañas, Sandfire MATSA produces copper, zinc and lead mineral concentrates that are sold from the port of Huelva. Sandfire MATSA also holds an extensive portfolio of exploration tenements in both Portugal and Spain.  Sandfire MATSA is a wholly owned company of Sandfire Resources Ltd, a mining and exploration company listed on the Australian Securities Exchange (ASX: SFR).  

 

  Western Tethyan Resources (WTR)   is a UK-registered, mineral exploration and development company focused on South East Europe. The company has a strategic alliance with Newmont Corporation and Ariana Resources and is currently focused on exploration for major copper-gold deposits in the Lecce Magmatic Complex and Vardar Belt. The company is assessing several other exploration project opportunities across Eastern Europe, targeting copper-gold deposits across the porphyry-epithermal transition.  

 

  Avrupa Minerals Ltd.   is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model.  The Company holds one 100%-owned license in Portugal, the Alvalade VMS Project, presently optioned to Sandfire MATSA in an earn-in joint venture agreement.  The Company now holds one 100%-owned exploration license covering the Slivova gold prospect in Kosovo, and is actively advancing four prospects in central Finland through its joint venture in Akkerman Finland Oy.  Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal, Finland, and Kosovo.  The Company continues to seek and develop other opportunities around Europe.  

 

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.  

 

Copyright (c) 2024 TheNewswire - All rights reserved.

 

News Provided by TheNewsWire via QuoteMedia

AVU:CA
The Conversation (0)
Avrupa Minerals Starts Drilling at Kangasjarvi, Central Finland

Avrupa Minerals Starts Drilling at Kangasjarvi, Central Finland

 

(TheNewswire)

 
     
  Avrupa Minerals Ltd. 
          
 

 

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Avrupa Minerals Intersects Polymetallic VMS Mineralization at Sesmarias

Avrupa Minerals Intersects Polymetallic VMS Mineralization at Sesmarias

 

(TheNewswire)

 
     
  Avrupa Minerals Ltd. 
          
 

 

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Avrupa Minerals Closes $350,000 Private Placement

Avrupa Minerals Closes $350,000 Private Placement

 

(TheNewswire)

 
     
  Avrupa Minerals Ltd. 
          
 

 

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Avrupa Minerals $350,000 Private Placement is Fully Subscribed

Avrupa Minerals $350,000 Private Placement is Fully Subscribed

 

(TheNewswire)

 
     
  Avrupa Minerals Ltd. 
          
 

 

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Avrupa Minerals Announces $350,000 Private Placement

Avrupa Minerals Announces $350,000 Private Placement

 

(TheNewswire)

 
     
  Avrupa Minerals Ltd. 
          
 

 

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
FPX Nickel Announces Share-Based Compensation Grant

FPX Nickel Announces Share-Based Compensation Grant

 
 

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the " Options ") to directors, officers and employees of the Company pursuant to the Company's Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

 
 

  FPX Nickel logo (CNW Group/FPX Nickel Corp.) 

 

The Company also granted an aggregate 750,000 restricted share units (the " RSUs ") to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

 

  About FPX Nickel Corp.  

 

 FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

 

On behalf of FPX Nickel Corp.

 

"Martin Turenne"
Martin Turenne , President, CEO and Director

 

   Forward-Looking Statements   

 

  Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.  

 

SOURCE FPX Nickel Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html  

 
 

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Cygnus Metals Limited: Issue of Performance Rights

Cygnus Metals Limited: Issue of Performance Rights

 

Cygnus Metals Limited ("Cygnus" or the "Company") advises that it has issued an aggregate of 67,050,000 performance rights ("Performance Rights") to directors, and key employees and consultants, under the Company's Omnibus Equity Incentive Plan ("Plan").

 

Shareholders approved the Plan and the issue of Performance Rights to directors at the Company's annual general meeting held on May 14, 2025. The Performance Rights to key personnel were issued on the same terms and conditions as the director Performance Rights, as set out in the notice of annual general meeting released to ASX on April 14, 2025.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to announce the 2025 exploration program is nearing completion at its wholly-owned Adams Plateau Project (the "Project") in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX project.

Gary Thompson, CEO of Silver47, stated: "We are glad to continue our work on Adams Plateau toward defining drill targets on this road-accessible project. The abundance of surface mineralization on the Project is very encouraging for the potential of new and exciting discoveries. The Company has received a 5-year permit for drilling. This year is shaping up to be transformational for the Company with a full season of drilling at the flagship Red Mountain Project and the pending merger with Summa Silver."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

 

   New Expansion Hole Intersects    279    Metres Averaging    0.49    % Cu   

 

   Nine Drill Rigs Now Active on Site   

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Vertex Minerals Limited  Reward Gold Mine Project Update

Vertex Minerals Limited Reward Gold Mine Project Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX,VTXXF) (OTCMKTS:VTXXF) is pleased to announce that the underground mining operation is on track to be producing high grade gold feed to the recently commissioned gravity gold plant in the coming weeks.

HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

o New Aramine L350D has departed France for the journey to Hill End. Arrival in Orange NSW expected in by 26th August where it will be fitted with an RCT remote control system for open stoping operations.

o Mining the Reward Gold Mine - Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).

o Weekly Gold production Oz's from Stockpiles improving with depth in the stockpiles, with coarser particle size and better process throughput experienced.

- Mine start up

o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

o High voltage cabling installation commences next week, with power up of the system scheduled for 28 July 2025.

o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

o Development Jumbo #1 (Epiroc T1D) is exceeding performance expectations.

o Dewatered of declines well underway.

o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

o DSM screen installed to improve product delivery to Wilfley Table.

o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

- Updated Reward Gold mine mining plan and mine schedule completed.

- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au from a developed airleg stope block. The planned stope width is the same as the interpretation of the mineralisation. (Refer to Table 1 in Appendices 1) (VTX ASX announcement 26/06/23).

Given this stope will take some time to extract, the Vertex geology and Mining Team have additionally brought forward a very high-grade long hole stope to commence mining in August as well. Further optimisations to the mining schedule will continue to be made.

This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×