Avrupa Minerals (V.AVU) hits pay dirt again in South Portugal – gains 57%

Gaalen Engen Gaalen Engen, Stockhouse.com
0 Comments| December 18, 2013


Avrupa Minerals (TSX-V:AVU, StockForum), a Vancouver-based company engaged in the acquisition and exploration of mineral properties in Portugal, Kosovo and Germany, announced today that Avrupa had received positive geochemical results from three of their South Portugal projects: the Marateca and Sines licenses located in the Iberian Pyrite Belt and Alvito located in the Ossa Morena tectonic zone.

 

Marateca has thirteen potential copper-zinc, volcanogenic massive sulfide-style target areas with several of those areas bearing iron and manganese mineralization. Silica was found Serrinha and Cordoeira revealed silica, copper, lead and manganese.

 

There are favorable horizons for massive sulfide-style mineralization at Sines with 15 samples bearing anomalous copper results to 0.12%, lead to nearly 500 ppm and zinc to 350 ppm. Considering results from Pego do Altar, located on the Marateca property, Sines exploration results support the presence of hydrothermal systems that might have generated massive sulfide mineralization.

 

Alvito license sits along the southern half of the Alcaçovas Copper Belt, a 24-kilometer long, 2- to 4- kilometer wide belt of copper-gold anomalism. Selective sampling along the southern stretch of Alcaçovas resulted in 27 of 68 samples bearing 0.5%+ copper with a high value of 23.6%. Ten of the aforementioned samples held gold values above 0.5 ppm to 3.95 ppm Au.

 

According to the news release, “early-stage exploration has also identified and enlarged numerous other targets on the property. These include the 5-kilometer long and 3-kilometer wide Agua de Peixe epithermal system, which consists of numerous veins, including two major sub-parallel vein zones, both approximately two kilometers long and up to 30 meters wide in places.”

 

It went on, “During the most recent work, two new veins and one possible zone of carbonate replacement mineralization were discovered. Three float and outcrop samples from the new veins returned between 55 and 123 ppm silver, while two chip-channel samples over 0.35 meters and 1.5 meters width from the carbonate replacement zone assayed 711 and 829 ppm of silver, respectively.

 

Then summed up, “There is possibility of additional strike length for the veins at both ends, and further fieldwork is planned to attempt to increase obvious target potential.”

 

Avrupa Minerals was in the news recently when the company announced 51% interest in Alvalade JV.

 

Shares soared 57.14% on the news to $0.11 per share.

 

Currently there are 38,543,571 outstanding shares with a market cap of $4.24 million.


Tags: INDUSTRIAL METALS & MINERALS

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