Avrupa Minerals Options Slivova Gold Project to Western Tethyan Resources, Kosovo

Avrupa Minerals Options Slivova Gold Project to Western Tethyan Resources, Kosovo

(TheNewswire)

Avrupa Minerals Ltd.

Vancouver, BC TheNewswire - September 7, 2022 Avrupa Minerals Ltd. (TSXV: AVU ) (OTC:AVPMF) (FRANKFURT:8AM) is pleased to announce that it has entered into an Option Agreement with Western Tethyan Resources ("WTR") for WTR to earn-in up to 85% of the Slivova Gold Project by funding and performing certain work programs to potentially advance the Slivova Project to a mining solution.  WTR is a private exploration company based in London and Prishtina, Republic of Kosovo, and is 75% owned by London AIM-listed Ariana Resources.

Paul W. Kuhn, President and CEO, commented, "We are excited to begin working with Western Tethyan Resources to advance the new Slivova Gold Project.  Previously we identified a NI 43-101 indicated mineral resource at Slivova of 640,000 mt @ 4.8 g/t gold and 14.68 g/t silver, or approximately 98,700 ounces of gold and 302,000 ounces of silver (1) .  While the Project has been on hold since 2018, we now see a clear path for advancement at Slivova.  The new 7-year exploration license is double the size of the original permit, and includes a number of new targets that may enhance the mineral inventory.  WTR and Ariana Resources have a great deal of exploration experience in the greater Mediterranean Basin, and Ariana is a highly successful mine builder and operator."

  1. (1) Initial Metal Resource Calculation


Click Image To View Full Size

Figures 1 and 2. Maps showing location of Slivova in Kosovo, along with target areas to be upgraded.  New license is shown as a red polygon.  The names in northwest quadrant are historic Trepça base metal mines.

The Terms of the agreement are:

Due Diligence ("DD") Phase with exclusivity from September 1, 2022 ("Effective Date") to March 1, 2023

  • Euro 35,000 cash payment upon signing;

  • Euro 100,000 investment during DD Phase; however if WTR decides to vacate the Project before completion of 6-month DD, minimum of Euro 25,000 must be spent;

  • Euro 35,000 cash payment at the end of 6-month DD period;

  • Definitive Agreement to be completed and signed.

Earn-In Phases

  • Stage 1:

    • Euro 30,000 cash payment on September 1, 2023;

    • If WTR elects to enter the Definitive Agreement, it will invest total Euro 800,000 during first two years from the Effective Date (minimum of Euro 150,000 must be spent by September 1, 2023, post DD Phase), for exploration, drilling, baseline environmental and social surveys, landowners, etc., for 51% of the project

  • Stage 2: After completion of Stage 1, during the third year from the Effective Date, WTR will invest Euro 1,000,000 for NI 43-101 resource estimation, commencement of full Environmental Impact Statement ("EIS"), etc., for 75% of the project

  • Stage 3: During fourth and fifth year from the Effective Date, WTR must complete the EIS, Feasibility Study ("FS"), and Mining License application, for 85% of the project

  • Stage 4: WTR completes success payments to previous JV partner, Byrnecut International Ltd. ("BIL"):

Cash

  • Euro 125,000 within 30 days of the first to occur:

    • Completion of a positive FS (minimum 15% IRR)

    • Avrupa or related party making a decision to proceed with development of a mining operation within the license area

  • Euro 125,000 within 30 days of issuance of a mining license for the Slivova Project, and

  • Euro 125,000 within 30 days of commencement of mine construction within the license area.

Gold

  • 100 troy ounces within 30 days of commencement of commercial production ("CCP");

  • 175 troy ounces within 30 days of the first-year anniversary of CCP;

  • 250 troy ounces within 30 days of the second-year anniversary of CCP;

  • 325 troy ounces within 30 days of the third-year anniversary of CCP.

  • Stage 5: Avrupa participates in the mine build or dilutes to 1% NSR.

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 the recently-announced acquisition of 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) 2022 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
Lumina Gold Announces Mailing of Information Circular

Lumina Gold Announces Mailing of Information Circular

Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the "Company" or "Lumina") is pleased to announce that, in connection with the proposed arrangement (the " Arrangement ") of the Company with CMOC Singapore Pte. Ltd. (the " Purchaser ") and 1536188 B .C. Ltd. (" AcquireCo "), as previously jointly announced on April 21, 2025 the Company has called a special meeting (the " Meeting ") of holders (" Shareholders ") of common shares of the Company (" Shares "), holders of options of the Company (" Optionholders ") and holders of restricted share units of the Company (the " RSU Holders " and together with the Shareholders and Optionholders, the " Securityholders ") to consider the Arrangement and has completed the mailing of the notice of meeting, information circular and related proxy materials (collectively, the " Meeting Materials ") to the Securityholders.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Provides Update on Affiliate Company CO2 Lock Corp.

FPX Nickel Provides Update on Affiliate Company CO2 Lock Corp.

 FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on the activities of its affiliate company, CO2 Lock Corp. (" CO2 Lock ").

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

Background

In 2022, FPX announced the formation of CO2 Lock as a self-funding subsidiary to pursue geoscience-related carbon capture and storage (" CCS ") opportunities via permanent mineralization of carbon dioxide. FPX retains 100% of the carbon credits associated with CCS on FPX's own properties, and can use any intellectual property developed by CO2 Lock for the benefit of FPX's own properties.

Since its inception, CO2 Lock has completed multiple field programs at its flagship SAM site in central British Columbia , including a successful CCS field program in 2023, which included drilling an exploration well. This achievement marked a significant milestone in the development of CO2 Lock's innovative in-situ CO 2 mineralization technology.

Commercial Updates

In recent months, CO2 Lock has achieved several commercial milestones, including the signing of preliminary agreements with key counterparties in the CCS value chain as follows:

  • Letter of Intent with Cielo Carbon Solutions (" Cielo ") and Carbon Quest outlining the framework for capturing and sequestering 100,000 tonnes of CO 2 per year, scaling up to a target of 1 million tonnes per year. This strategic relationship combines Cielo and Carbon Quest's point-source carbon capture solution with CO2 Lock's storage solution to create an end-to-end value chain from industrial emitters to the permanent storage of carbon dioxide.

  • Memorandum of Understanding with Ionada Carbon Solutions LLC (" Ionada ") to pursue a variety of commercial arrangements relating to the capture and storage of carbon dioxide and the related sale of carbon credits into the commercial market. The collaboration will integrate Ionada's proprietary carbon capture technology with CO2 Lock's permanent mineralization storage solutions, creating end-to-end carbon capture storage systems that are cost-effective and scalable.

  • Letter of Intent with a leading carbon marketplace platform (the " Platform "), under which the Platform will purchase up to 33% of the carbon credits generated annually from CO2 Lock's flagship SAM carbon sequestration site, representing the potential for over 300,000 verified carbon credits (tonnes) per year.

Following the successful field program in 2023, CO2 Lock has submitted an application for a carbon capture and storage exploratory reservoir license with British Columbia's Ministry of Energy and Climate Solutions. Receipt of this license would provide CO2 Lock with the regulatory approval to advance the project towards commercial operations at the SAM project.

CO2 Lock Financing and Restructuring

CO2 Lock recently completed the final $600,000 tranche of its latest funding round, which raised a cumulative total of $1.7 million through a Simple Agreement for Future Equity (" SAFE ") from third-party investors. Since its inception, CO2 Lock has raised a total of approximately $3.4 million from third-party investors.

In connection with the closing of the SAFE round, FPX and CO2 Lock have agreed to a restructuring of CO2 Lock's capital structure such that FPX's undiluted ownership interest in CO2 Lock has been reduced from approximately 88% (prior to the SAFE round) to 30% (on conclusion of the SAFE round). This restructuring better positions CO2 Lock to seek additional funding from third party investors going forward, while ensuring that FPX retains a meaningful ownership interest in CO2 Lock and enduring rights to utilize CO2 Lock's intellectual property for the benefit of FPX's own properties.

About FPX Nickel Corp.

FPX Nickel Corp.  is focused on the exploration and development of the Baptiste Nickel Project, 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/May2025/20/c0028.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Precious Metals & Critical Minerals Hybrid Investor Conference Agenda Announced for May 22nd

Precious Metals & Critical Minerals Hybrid Investor Conference Agenda Announced for May 22nd

Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the Precious Metals & Critical Minerals Hybrid Virtual Investor Conference. Individual investors, institutional investors, advisors, and analysts are invited to attend.

This in-person and virtual event will showcase live company presentations and interactive discussions featuring Precious Metals and Critical Minerals including Gold, Silver, Antimony, Copper, Lithium, Nickel, PGM, Rare Earth Elements, Uranium and Vanadium.   Company executives and industry experts will present live from the OTC Markets Group headquarters at 300 Vesey Street in New York City. All presentations will be broadcast to the Virtual Investor Conferences community. For those who are interested in attending, there are two ways to register:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×