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Avrupa Minerals Inks JV Pact with MATSA for Alvalade copper-zinc Project in Southern Portugal

Mining News - Published on Thu, 28 Nov 2019

Image Source: avrupaminerals.com
Avrupa Minerals Ltd reported that it has signed a definitive agreement with Minas de Aguas Tenidas SA to form an earn-in exploration and exploitation joint venture on its Alvalade copper-zinc Project in the Iberian Pyrite Belt of southern Portugal. The Joint Venture company will now be set up, and an application made to the Mining Bureau of Portugal to complete the process of issuing the new Alvalade Experimental Exploitation Licenseto Newco, as conditions precedent to completing the agreement. Avrupa Minerals President and CEO Mr Paul W Kuhn said ‘The signing of the Alvalade Agreement with MATS A is another positive milestone for the Project and for Avrupa Minerals. We are extremely pleased to be working with MATS A who already has three operating copper, zinc, and lead mines in the Iberian Pyrite Belt of Spain. We are looking forward to getting back to advancing the Sesmarias prospect at Alvalade, as well as potentially advancing several nearby prospects at Monte da Bela Vista and Lousal”

The most recent drilling at the Sesmarias copper-zinc prospect, within the Alvalade License, demonstrated the potential for a large area of massive sulfide mineralization at Sesmarias. Presently, geological parameters of the 10 Lens suggest a mineralized body at least 600 meters long x 300 meters wide x 25 meters thick. Drill intercept grades averaged 0.35 - 0.5% copper and 0.4 -1 g/t gold in just six holes along the strike length of presently known mineralization.

The aim of the first stage of this agreement with MATSA is to delineate a deposit at Sesmarias or at other targets within the Alvalade license with a significant drill program. Some of those other targets include the past-producing Lousal Mine, the Monte da Bela Vista stockwork zone, and at the past-producing Caveira Mine.

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Posted By : Rabi Wangkhem on Thu, 28 Nov 2019
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