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Avrupa Minerals Ltd. (TSXV:AVU) has made a new high grade gold discovery in fourth drill hole SLV004, from surface, during the first drill program at the Slivovo Project joint venture with Byrnecut International Ltd. The full 126.5-meter intercept includes 6.2 g/t gold, 15.0 g/t silver, 0.092% copper, 0.16% lead, and 0.45% zinc.
Shares of Avrupa jumped as much as 62 percent during morning trading hours, and the company was up 25 percent, trading at $0.25, as of 10:52 a.m. EST.
- New high grade gold discovery in fourth drill hole SLV004, from surface.The semi-massive sulfidic mineralized block ranges from 30 meters thick to potentially +80 meters thick.
- Detailed surface geological mapping indicates that the mineralized block may be up to 100 meters wide.
- The mineralized block plunges at least 175 meters at a minus 30 degree angle, and is open down-plunge.
- Mineralization adds to previous results for the gossan zone announced in July and trenching results announced in September, 2014.
- Drilling is continuing, as weather permits.
As quoted in the press release:
Avrupa geologists collared hole SLV004 close to the SW edge of the outcropping gossan (in black, Figure 2 location map) and immediately encountered semi-massive sulfidic rocks, overprinted by gold-quartz-adularia mineralization, from the surface to a depth of 126.5 meters. At this depth, the drill hole crossed through a low-angle fault zone and into altered, but un-mineralized sandstone rocks. The full 126.5-meter intercept includes 6.2 g/t gold, 15.0 g/t silver, 0.092% copper, 0.16% lead, and 0.45% zinc.
Avrupa Minerals President and CEO, Paul Kuhn, said:
We are extremely excited and positive about the initial results at Slivovo. In addition to the strong gold results from SLV004, we are also quite excited about the presence of significant copper anomalism in the drill hole, which may point to the possibility of a larger porphyry system located in the lower plate rocks, underneath the thrust fault. We will look forward to receiving results from SLV005 and SLV006 for the possibility of extending the Slivovo gold mineralization.
Click here to read the Avrupa Minerals Ltd. (TSXV:AVU) press release
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