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The Government of Portugal has approved and signed a 1-year extension to the Avrupa Minerals Ltd. (TSXV:AVU) Covas W-Au exploration license.
As quoted in the press release:
The permit will be valid until March 20, 2013, and requires a work investment of € 500,000 to fulfill all exploration commitments. At the end of the extension period, if continued exploration is warranted, the company may request a 3-year trial exploitation license, which is routinely granted by the Portuguese government when mineralization is present. Prior exploration work on the property includes approximately 27,000 meters of drilling in 329 drill holes by numerous operators up through the 1980′s. Calculations prepared by Union Carbide in 1980 demonstrated an inferred + indicated mineral resource of 922,900 metric tonnes of 0.78% WO3 (this historic resource estimate is not NI 43-101 compliant).
Avrupa Minerals CEO, Paul W. Kuhn, said:
“The Company is excited about gaining the extension of the Covas exploration license. With the official signing of the extension, our partner Blackheath Resources will now be able to raise the requisite funding to advance the exploration program on the property. We plan to drill test a number of tungsten and gold targets during the upcoming field season. In addition, the people who run Blackheath have previous tungsten mining experience in Portugal, and their contributions to the program will be substantial.”
Click here to read the Avrupa Minerals (TSXV:AVU) press release
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