Avrupa Minerals reports on progress in Kosovo and Portugal

Avrupa Minerals Ltd. (TSXV:AVU) is pleased to report on progress at drilling projects in Kosovo and Portugal.

Avrupa Minerals Ltd. (TSXV:AVU) is pleased to report on progress at drilling projects in Kosovo and Portugal. The Company’s partners funded two drill programs during 2017. In Kosovo, Byrnecut International Ltd. (“BIL”) completed an 18-hole, 6,280-meter core drilling program at the Slivovo Gold Project, while in Portugal Blackheath Resources Inc. (“BHR”) completed a single, exploratory test hole at the Covas Tungsten Project where Avrupa is the operator.

Slivovo Gold Project, Kosovo

The 2017 drill program was originally planned for 5,670 meters. The program was designed to focus on five areas of interest. These were designated as potential target areas to significantly expand the known, near-deposit mineralization modeled by BIL as part of their detailed technical study completed at the end of 2016. The study fulfilled their 85% earn-in commitment in the Project. Avrupa is no longer contributing to the program and expects to be diluted to a 2% NSR in 2018. The areas of interest (Figure 1) were designated as:

  • Main Gossan Offset
  • Gossan Extension
  • Sandstone Gossan
  • Deep IP Anomaly
  • Dzemail

The targeting process for the program was assisted by utilization of data and modeling from previous work phases at Slivovo, which included:

  • Four phases of historic drilling, 2014 – 2016
  • Limited, but widespread soil and rock chip sampling, 2014 – 2016
  • Focused, limited IP and EM geophysical surveys, 2016
  • Limited field mapping, 2014 – 2016
  • Structural interpretation
  • Geological modeling

Targets were selected for viability based on three major factors:

  • IP anomalies, shallow (less than 100 meters deep) and deep (greater than 100 meters deep), identified in the 2016 geophysical program
  • Structural and geological models based on historic drilling and geological mapping
  • Limited-in-scope, widespread geochemical surveys

The following figure shows the locations of the five target areas and the 2017 drill holes and traces.

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/c8258966-17bb-458e-abc8-e35bb6ecf703

http://www.globenewswire.com/NewsRoom/AttachmentNg/82b233a8-fef1-4481-8b46-8ebf2315f1af

http://www.globenewswire.com/NewsRoom/AttachmentNg/f0b4139a-288d-4436-b928-bef2cf2dac4c

Results from the drilling were mixed. New geological and structural information gained from the work indicated that the complexity of the Slivovo system is greater than originally suspected. Geochemical results from sampling of the mineralized core did not significantly extend near-surface gold mineralization. The combination of these results indicated new mineral possibilities in the immediate Slivovo target area, but none close enough to the surface to significantly increase the size of the present, potentially surface-mineable Slivovo gold deposit. Avrupa reported an indicated mineral resource conforming to NI 43-101 definitions of 640,000 mt of 4.80 g/t gold and 14.68 g/t silver, for 98,700 ounces of gold and 302,000 ounces of silver (May 5, 2016).

BIL commissioned a follow-up, independent technical report to verify potential of significant mineralization around the Slivovo deposit, at Peshter and Brus, as well as around the remaining areas of the license. Results of the independent study, completed in November 2017, diverged somewhat from earlier work, particularly in genesis and placement of the mineralization in the Slivovo area. Earlier work assumed mineral-bearing fluids originated from perhaps a single, large porphyry intrusive source on the property, allowing for potential of a larger deposit at Slivovo. The new work presumes however that Slivovo gold mineralization is sourced from a large, off-property intrusive center. Numerous small, satellite porphyritic intrusions emplaced perpendicularly to the mineral-hosting calcareous rocks at Slivovo, thus forming small mineral bodies around the Slivovo gold deposit. The independent study finally suggests a number of small (10K) to medium size (100K) targets within the license area, as shown below.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/74a36407-8104-4af0-a452-718e98f1e1e9

Covas Tungsten Project, Portugal

The Covas Project hosts a reported conformable to NI 43-101 indicated mineral resource of 449,800 MTU’s WO3 and an inferred mineral resource 767,100 MTU’s WO3 (as reported in the AVU news release of April 1, 2015). Mineralization is hosted in seven discrete bodies surrounding a presumed buried granitic intrusion. Over 80% of the indicated and inferred resources lie within 60 meters of the surface. The price of tungsten lies close to US$ 300 per metric tonne unit (MTU), up from under US$ 200 at the end of the 2016.
Avrupa’s partner at Covas, Blackheath Resources Inc., funded a single 225-meter drill hole to partially test for the possibility of a large-tonnage, close-to-the-surface, bulk-mineable, disseminated tungsten deposit directly related to or hosted in the presumed porphyritic granitic Covas intrusive body. Surface and close-to-surface indications for potential mineralization included strong alteration affiliated with an intense linear, negative magnetics anomaly, multi-element geochemical anomalism contained in soil samples covering the linear magnetics anomaly, and supporting IP/chargeability anomalism. Following is a plan view of the target area, as well as a conceptual diagram illustrating the technical merits for the targeting at the Covas site.

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/947cbbc8-20b6-4573-a205-db6f3842bea3
http://www.globenewswire.com/NewsRoom/AttachmentNg/e7fd5cc7-0c1b-4057-b779-7f5b9bf0151f

The single drill hole partially tested the target idea. Alteration was present throughout the hole, particularly strong silicification through the bottom half of the hole. Porphyritic intrusive rocks were present in the hole in the form of cross-cutting dikes. We are awaiting assay results from the laboratory.

To date, BHR has funded approximately 1.75 million euros of exploration at Covas, and holds 75% of the Project according to the amended earn-in agreement (see AVU news release dated May 12, 2014).

Paul W. Kuhn, President and CEO of Avrupa Minerals Ltd., commented, “The Company continues to successfully advance its programs in Kosovo and Portugal through partner funding. We intend to continue to advance all of our quality projects in both countries in 2018, in addition to potentially completing new joint ventures on our Pyrite Belt Projects in South Portugal.”

Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator model, of valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.

The Company currently holds eight exploration licenses in three European countries, including five in Portugal covering 2,911 km2, two in Kosovo covering 47 km2, and one in Germany covering 307 km2. Avrupa now has three active option and joint venture agreements, two in Portugal and one in Kosovo, including:

  • The Alvito Option Agreement with OZ Minerals Limited covering one license in the Ossa Morena Zone in southern Portugal, for IOCG deposits;
  • The Covas JV, with Blackheath Resources, covering one license in northern Portugal, for intrusion-related W deposits; and
  • Avrupa’s partner at the Slivovo Gold Project in Kosovo is fully funding the program, allowing Avrupa to dilute its ownership in the JV operating company Peshter Mining JSC. If AVU ownership goes below 10%, the interest in the project converts to a 2% NSR.
  • In addition, in the Iberian Pyrite Belt of south Portugal, the Company holds the Alvalade VMS Project, now 100% owned by Avrupa, where previous partners have spent over US$ 7.6 million on exploration for VMS copper, zinc, and lead, mineralization, resulting in discoveries at Sesmarias and Monte da Bela Vista.

Avrupa is currently upgrading precious and base metal targets to JV-ready status in a variety of districts on their other licenses, with the idea of attracting potential partners to project-specific and/or regional exploration programs.

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.

Click here to connect with Avrupa Minerals (TSXV:AVU) for an Investor Presentation.

Source: globenewswire.com

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Catch up and get informed with this week's content highlights from Charlotte McLeod, our editorial director.

Top Stories This Week: Powell Gets Fed Nomination, Using Gold in a Market Correction youtu.be

We're back after a break last week with quite a bit to cover in the gold space.

After running up past the US$1,860 per ounce mark midway through November, the yellow metal has taken a tumble. At the time of this writing on Friday (November 26) afternoon, it was sitting just under US$1,790.

Gold's losses this week have been attributed to elements like a stronger US dollar and better Treasury yields, although Jerome Powell's US Federal Reserve chair renomination has pulled other factors into play — some market watchers believe he may move to taper and raise interest rates faster than anticipated.


If the Fed follows its previously laid out timeline for tapering, it will wrap up in mid-2022; the central bank has said it won't raise rates until after that. It has also emphasized that its roadmap may change if necessary.

Looking at the larger picture for gold, I heard recently from Nick Barisheff of BMG Group, who believes the stock market is due for a major correction.

"The market is due for a major correction. What will cause it and when it will happen is anybody's guess — it could be tomorrow, it could be six months from now" — Nick Barisheff, BMG Group

It's impossible to know when this correction will happen, but Nick emphasized the importance of acting before it's too late. He pointed out that investors are typically slow to get out of the market once a crash actually begins — they wait for a turnaround, and by the time it's clear there won't be one, they've experienced big losses.

In his opinion, the solution is to get out of the stock market early and transfer money into gold.

Here's how Nick explained it:

"Instead of taking your money off the table and going into cash … you go to gold (because cash is devaluing daily). Gold will at least hold its own and probably appreciate … so by sitting it out in gold you can wait until the market finishes correcting and then buy back in" — Nick Barisheff, BMG Group

With gold's future in mind, we asked our Twitter followers this week what price they think the metal will be at the end of 2021. By the time the poll closed, most respondents had voted for the US$1,800 to US$1,900 range.

We'll be asking another question on Twitter next week, so make sure to follow us @INN_Resource or follow me @Charlotte_McL to share your thoughts.

Finally, in the cannabis space, INN's Bryan Mc Govern spoke with Dan Ahrens of AdvisorShares to get his thoughts on 2021 trends and what's ahead in 2022.

Dan was candid, and said if he had to choose one word to describe the cannabis market in 2021, it would be "painful." Like many others, he's been disappointed in the industry's performance — while positivity initially ran high due to excitement about potential federal changes in the US, ultimately progress has been slow.

"Cannabis started with a big run-up in January and February ... and things dragged from there" — Dan Ahrens, AdvisorShares

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Specifically, he expects to see alcohol, tobacco and other consumer packaged goods companies making deals with cannabis players, not just cannabis entities doing transactions with each other.

"Those big alcohol companies, tobacco companies, other consumer packaged goods product companies — they're waiting. They're waiting on the US" — Dan Ahrens, AdvisorShares

Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.

And don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

cannabis plant layered with German flag graphic
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Catch up on some of the biggest news of the week for the cannabis investment world.

Three political parties have formed a coalition in Germany, leading to a new government, and it has promised cannabis reform in the European nation.

Meanwhile, a popular cannabis retailer confirmed consumers will now find its products available for delivery on the Uber Eats mobile application in Ontario.

Keep reading to find out more cannabis highlights from the past five days.


Coalition of parties promises forward-looking cannabis policy

Germany, a country with comprehensive and elaborate medicinal rules for cannabis, is in a time of transition as a new government is set to begin to take over after 16 years of Angela Merkel.

Olaf Scholz, the proposed next chancellor of Germany, leads a three party coalition that will become the country's governing body. As part of its promises, talk of adult-use cannabis regulation has now gained even more momentum. A report from MJBizDaily quotes a German policy document that shows the coalition's stance:

"We are introducing the controlled distribution of cannabis to adults for consumption purposes in licensed shops. This controls the quality, prevents the transfer of contaminated substances and guarantees the protection of minors."

However, despite the promise and excitement, it remains to be seen how these ideas will be applied since no formal regulations have been drafted or approved yet.

Canadian cannabis retailer partners with popular delivery app

Tokyo Smoke, a cannabis retail operator in Canada owned by Canopy Growth (NASDAQ:CGC,TSX:WEED), announced a collaboration agreement with Uber Canada (NYSE:UBER) whereby cannabis consumers will be able to use the Uber Eats app to order products before they visit stores.

While the app won't let consumers get cannabis delivered to them, this new method opens the doors to more dynamic ways of buying cannabis.

"As a market leader in innovation and a platform used by so many Canadians, we believe this is the ideal next offering that can be done safely and conveniently on the Uber Eats app," Mark Hillard, vice president of operations with Tokyo Smoke, said in a press release.

A report from the Canadian Press indicates Ontario is considering allowing dispensaries to have delivery and pickup options made available to consumers permanently. The province allowed some of these purchasing options at the outset of the COVID-19 pandemic, but then removed them.

Lola Kassim, general manager of Uber Eats Canada, said this new end-to-end experience will provide consumers with responsible access to legal cannabis products.

Cannabis company news

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  • Halo Collective (NEO:HALO,OTCQB:HCANF) confirmed the decision for Akanda, its spinoff company focused on international cannabis opportunities, to begin trading on a US exchange. "The number of shares to be offered and the price range for the proposed offering have not yet been determined," the company told investors in a press release.
  • High Tide (NASDAQ:HITI,TSXV:HITI) announced the acquisition of 80 percent of NuLeaf Naturals, a CBD product wellness developer, for an estimated US$31.24 million. The deal includes a three year option clause for High Tide to complete a total acquisition. "As international markets open up and as export regulations evolve, NuLeaf's cGMP-certified facility positions us to take advantage of the global CBD business opportunity," Raj Grover, president and CEO of High Tide, said.
  • Humble & Fume (CSE:HMBL,OTC Pink:HUMBF) released the financial report for its first 2022 fiscal quarter to shareholders and the market. "As the legal cannabis market in North America continues to mature, Humble remains agile and focused on providing a leading solution for brands to scale quickly and retailers to focus on their customers," Joel Toguri, CEO of Humble, said.

Don't forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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