In December 2014, Avrupa and its partner Byrnecut International announced the discovery of new gold zone on the Slivovo project in Kosovo.
The “Drill Tracker” highlights early stage drilling and trenching results, giving a metric to evaluate exploration results and compare them against their peer group. In this report we highlight a dozen exploration companies displaying their projects in the Core Shack at the AME BC Roundup held in Vancouver between January 26 and 29, 2014.
Market cap: $13 million
Cash estimate: $0.5 million
Ownership: joint venture
- In December 2014, Avrupa and its partner Byrnecut International announced the discovery of new gold zone on the Slivovo project in Kosovo. Byrnecut can earn 51 percent in the project by spending 1 million euros by April 2015 and a further 24 percent by spending an additional 1 million euros by April 2016. Byrnecut has until April 2017 to complete a feasibility to earn 85 percent.
- Highlights from the discovery hole include:
- Discovery hole: 126.5 meters at 6.2 g/t gold. The hole was mineralized from a surface gossan and drilled down dip of a mineralized zone that appears to be spatially related to a shallow thrust fault.
- Two crossing holes are in process to test the true width, which the company expects to be 30 to 50 meters.
- The continuity of grade in the hole is good, with 36 percent of the intervals greater than 5 g/t gold and only 6 greater than 30 g/t gold.
- While the drill hole was clearly drilled down the dip of the mineralized zone and parallel to a proposed thrust fault, the maximum depth beneath the surface is approximately 75 meters, which would indicate the potential for a deposit that could be mined by open-pit methods if a body of reasonable size could be outlined. No indication is given on the depth of oxidation down dip from the gossanous zone where the hole was collared.
- The project generator also has a number of other projects, including a 2014 VMS discovery in Portugal with Antofagasta (LSE:ANTO) on the Alvalade joint venture.
Project status: New gold discovery November 2014
Catalysts: Additional drill holes across zone
Watch Avrupa Chairman Mark Brown discuss the company’s 2015 plans at Cambridge House International’s recent 2015 Vancouver Resource Investment Conference.
Disclosure: I, Wayne Hewgill, certify that the information in this report is sourced through public documents that are believed to be reliable, but accuracy and completeness as represented in this report cannot be guaranteed. The author has not received payment from any of the companies covered in this report.
At the date of this release the author, Wayne Hewgill, owns shares in the following companies:
This report makes not recommendations to buy sell or hold.
Editorial Disclosure: Avrupa Minerals is a client of the Investing News Network. This article is not paid-for content.
Wayne Hewgill is a geologist with extensive knowledge of the global mining industry gained through 30 years of diversified experience in mineral exploration and new business development in Canada, as well as 10 years living in Africa, New Zealand and Australia. He was previously senior research officer at BHP Billiton, an executive with an exploration company working in Argentina and a mining analyst at three Vancouver-based financial groups where he developed the Drill Tracker database in 2006. He holds a B.Sc. in Geology from the University of British Columbia and is registered as a Professional Geoscientist (P.Geo) with APEGBC.