Avrupa Minerals Ltd. (TSXV:AVU) reported on its progress towards forming the Alvalade JV with Antofagasta Minerals S.A.
As quoted in the press release:
The two companies are working towards completion of Initial Study Period targeting and due-diligence work. The six-month study period, as stipulated in the binding Memorandum of Understanding (see AVU news release of June 6, 2011), will expire in early December. Data collection, field work, analysis, and interpretation are continuing. Work completed to date includes re-logging of 31 historic drill holes, collection of approximately 250 samples from the drill core, re-processing of regional gravity and magnetics data, first-pass selection of specific target areas, including the Azinheira dos Barros and Aldeia dos Elvas locations, detailed re-processing of gravity data for the Aldeia area, and 1:10,000-scale geologic mapping and rock chip sampling at Aldeia and Azinheira. Integration of geophysical data, geochemical data, and the results of recent surface work in these two districts suggests the potential for multiple drilling targets in both places.