Avrupa Minerals announced that it has entered into a letter of intent with Spanish company Minas de Aguas Teñidas.
Avrupa Minerals (TSXV:AVU,OTC Pink:AVPMF) announced that it has entered into a letter of intent with Minas de Aguas Teñidas (MATSA) to form an earn-in exploration and exploitation joint venture on its Alvalade copper-zinc massive sulfide project in the Iberian Pyrite Belt of southern Portugal. The companies are working together to complete the definitive agreement, along with the formation of a new joint venture entity Newco, and the shareholder’s agreement for Newco.
As quoted in the press release:
Paul W. Kuhn, president and CEO of Avrupa Minerals, stated, “We are extremely pleased about the forthcoming joint venture at Alvalade. MATSA already mines copper and zinc at three locations in the Iberian Pyrite Belt of Spain, and we look forward to working with them on our Pyrite Belt Project in Portugal. Advancing the Alvalade project with the strong experience of MATSA will not only allow us to work towards a potential mining solution at Sesmarias, but will also allow us to return to our real strength of project generation in Europe.”