Avrupa Minerals to Continue Positive Progress in Finland, Portugal, and Kosovo in 2023

Avrupa Minerals to Continue Positive Progress in Finland, Portugal, and Kosovo in 2023

 

(TheNewswire)

 
     
  Avrupa Minerals Ltd. 
    
 

 

 

Avrupa Minerals Ltd. (TSXV:AVU ) (OTC:AVPMF) (FRANKFURT:8AM) is pleased to provide a corporate update and progress report covering the Company's programs in Portugal, Finland, and Kosovo.  The Company continues to make strong, positive progress in all three jurisdictions

 

  Paul W. Kuhn, President and CEO of Avrupa, commented, "We completed a busy and successful 2022 in all of our jurisdictions, building a strong base to support continuing success in the new year.  In the coming months, we expect to initiate drilling in Finland, continue drilling around the Alvalade Project in Portugal, and begin preparations to move the Slivova gold deposit towards a potential mining solution.  The Company will continue to search for new opportunities around Europe, particularly for gold and for so-called Green Metals, copper and zinc."  

 

  Drilling at the Alvalade Joint Venture with partner Sandfire MATSA continues after a 6-month hiatus during 2022.  For now, drilling is dedicated to high-priority exploration targets around the Alvalade license.  

 

  The upcoming addition of a second drill rig will speed up the pace of drilling, and we expect to target potential extensions to the Sesmarias massive sulfide deposit, as well as promising satellite targets there.  In total, we plan to drill another 8-9 holes around the license during the first half of 2023, totaling roughly 4,000 meters.  

 

  We have completed three exploration holes, totaling 1,946 meters, since the beginning of this phase of drilling, aiming at VTEM geophysical targets along the trend of mineral-hosting, Volcano-Sedimentary ("VS") rocks in the Pyrite Belt between the historic Lousal and Caveira Mines.  The recent drilling includes two holes in the Lousal NW sector and one in the Azinheira sector (see Figure 1, below).  All three drill holes intercepted the targeted VS horizon, with narrow zones of thin-bedded to semi-massive sulfide mineralization present.  Sampling results are forthcoming, and are expected to indicate possible proximity to massive sulfide mineralization in the strongly folded and faulted black shale host rocks.  

 

  We are presently drilling a fourth hole, located in the Casas Novas sector.  Two rounds of follow-up surface geophysics in the Lousal NW and Monte da Bela Vista target areas are now complete.  We plan next to drill a third hole in the Lousal NW area to test the more detailed electromagnetic anomalism, spatially related surface geochemical anomalies, and favorable geology.  

 

    
Click Image To View Full Size
 

 

  Figure 1.   Alvalade Joint Venture license, primary target areas.  

 

  In Kosovo, our new partner Western Tethyan Resources ("WTR") continues their extensive, detailed due diligence work at/around the Slivova gold deposit.  The work includes review of all technical facets of the deposit and project, including re-evaluation of the NI 43-101 resource, license-wide exploration potential, mining and processing possibilities, minesite infrastructure and layout, and social and environmental ramifications.  We expect a near-future decision on how to proceed, as stated in the "Heads of Agreement" reported by the partners on September 7, 2022.  

 

  In Finland, we have three exploration license applications in process, and a fourth application just submitted. The first two applications, Kolima and Kangasjärvi, covering copper- and zinc-bearing massive sulfide mineralization and targets in the Pyhäsalmi base metal district, are in advanced application status, with public, town hall-style meetings and stakeholder comment periods completed.  The decision process is now fully in the hands of the Finnish mining bureau, and we look forward to a decision in the latter part of Q1 2023.  We have developed first-pass drill targets within both application areas.  

 

  After a successful 2022 work program in Portugal and Finland, and the enlistment of a mining partner for the Slivova gold deposit in Kosovo, we look forward to a successful coming year, and especially to value accretion within Avrupa's three main jurisdictions.  Some of the important successes in 2022 were:  

 
  •  

      Establishment of a new copper-zinc exploration program in the Pyhäsalmi Mining District, central Finland, with initial phase of acquisition of Finnish exploration company Akkerman Finland Oy ("AFOy");  

     
  •  
  •  

      Initiation of a new joint venture in Kosovo with exploration-oriented Western Tethyan Resources and associated company, miner Ariana Resources, to bring the Slivova gold deposit to a mining solution; and  

     
  •  
  •  

      Continuation of advanced exploration in Portugal through the Alvalade Joint Venture with Sandfire MATSA, particularly within the Sesmarias massive sulfide deposit.  

     
  •  

  Key points to expect in the first half of 2023:  

 
  •  

      Issuance of the Kolima and Kangasjärvi exploration licenses in Finland;  

     
  •  
  •  

      Progress in the licensing process for two other applications in Finland;  

     
  •  
  •  

      First-pass drilling in Finland on at least one license;  

     
  •  
  •  

      Continuation of the purchase of the remaining portion of AFOy;  

     
  •  
  •  

      Continuation of the Slivova Joint Venture in Kosovo with updated resource estimate (JORC-compliant);  

     
  •  
  •  

      Follow-on plans for a new, improved pre-feasibility study at Slivova, social and environmental baseline work, land acquisition as needed, drilling (both infill and outboard);  

     
  •  
  •  

      For Alvalade, airborne gravity results leading to further targeting comfort for the final eight holes of the present phase of drilling;  

     
  •  
  •  

      Continued Sesmarias and property-wide exploration drilling;  

     
  •  
  •  

      Decision point for how to proceed at the end of the first three years of the Alvalade license.  

     
  •  

  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 in-process 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) 2023 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
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
Juggernaut Closes $1,100,000 from Institutions and Accredited Investors

Juggernaut Closes $1,100,000 from Institutions and Accredited Investors

 

(TheNewswire)

 
        
  Juggernaut Exploration Ltd. 
                   
 

Vancouver, British Columbia July 8, 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its June 4, June 12, and June 16, 2025, news releases, the Company is pleased to announce that it has closed its private placement financing (the "Financing") for aggregate gross proceeds of $1,100,000.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Noble Reports on Canada Nickel's Continued Exploration Success at MacDiarmid, Provides Exploration Update

Noble Reports on Canada Nickel's Continued Exploration Success at MacDiarmid, Provides Exploration Update

 

(TheNewswire)

 
       
  Noble Mineral Exploration Inc. 
                
 

  Highlights  

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×