(Plan view of Sesmarias North drilling, with drillhole locations and cross section lines. Map via Avrupa Minerals. Click to enlarge.)
Strong demand and declining reserves have helped move gold, silver, and even copper prices to their multi-year highs during 2021. One miner has taken advantage of a robust resource of those minerals (and more) in Portugal to yield some exciting results.
That miner is
Avrupa Minerals Ltd. (TSX-V: AVU, OTC: AVPMF, Forum), who recently reported that drilling continues to expand at its Sesmarias Copper-Zinc Prospect within the Alvalade Project in Alentejo, Portugal.
The program is a joint venture between Avrupa Minerals and
Minas de Aguas Teñidas, S.A. (MATSA) and is operated by Avrupa through the JV entity
PorMining Lda. MATSA is a private Spanish mining company, that owns and operates three mines in the Huelva Province: Aguas Teñidas, Magdalena, and Sotiel.
To date, the company has completed 11 diamond drill holes totalling 5,862 metres and is drilling a 12th hole testing potential massive sulphide mineralization on Section 0350S.
Highlights:
- SES21-040: 36.45 meters @ 0.72% Copper, 0.36 g/t Gold, 21 g/t Silver, and 0.82% Lead, including:
- 11.0 meters @ 1.05% Copper, 0.51 g/t Gold, 39.2 g/t Silver, and 1.64% Lead
- SES21-039: 39.2 meters @ 0.44% Copper, 0.71 g/t Gold, 27.1 g/t Silver, 2.07% Zinc, and 0.79% Lead, including overlapping mineralized zones:
- 17.25 meters @ 1.01 g/t Gold
- 16.7 meters @ 34.6 g/t Silver
- 16.7 meters @ 0.58% Copper
- 9.7 meters @ 1.23% Lead
- 8.0 meters @ 2.96% Zinc and 7.7 meters @ 3.5% Zinc.
- SES21-039: A second significant massive sulfide intercept lower in this hole: 14.8 meters @ 0.45% Copper, 0.29 g/t Gold, and 28.7 g/t Silver.
(Summary cross sections for 8 Lens mineralization in the Sesmarias North sector. Maps via Avrupa Minerals. Click to enlarge.)
Avrupa released details on this work in
a mid-September news release where Paul W. Kuhn, President and Chief Executive Officer, commented that with continued drilling in the SES North sector, the team has now intersected significant massive sulphide mineralization over 350 metres in strike length to the southeast from previously-reported intersections in SES21-033 and 036.
“The SES21-039 intercept is the longest, to date, in the joint venture, and shows improving copper, zinc, and gold grades, as we move south along the strike of massive sulphide mineralization originally discovered in SES008.
The SES21-040 intercept contains the best copper results, to date, with 11 metres of 1.05% copper within a longer interval of polymetallic mineralization. As we move south towards the SES Central (Discovery) sector, we look forward to the potential of continued improvement of grades.”
Avrupa completed 10 drill holes in the SES North sector during this phase of drilling (SES20-031 through SES21-040), and one further hole in the SES Central sector (SES21-041), totalling 5,862 metres. Drilling is underway on a 12th hole at Sesmarias.
The continuing work program is fully funded by MATSA, who can initially earn a 51% interest in the Alvalade Experimental Exploitation License property by completing funding requirements set out in the joint venture agreement between the companies. MATSA may then increase their interest in the Project to 85% by preparing a bankable feasibility study.
In addition to drilling at Sesmarias, work to upgrade potential for drilling at several other target areas is ongoing. The Company continues to explore at and around the historic Lousal and Caveira Mines located within the Alvalade license area, as well as at the Monte da Bela Vista discovery area and up to a half dozen other targets amplified through an airborne VTEM geophysical survey performed earlier this year. The object is to provide enough drillable targets to employ a second drill rig on the Project. Results from this work will be documented and reported when available in the coming weeks. The second rig is expected to commence drilling by mid-October.
Recently MATSA announced that it would be purchased from its present owners, Trafigura and Mubadala Investment Company by Sandfire Resources. The purchase will presumably close in Q1 2022. Business at Alvalade is expected to continue as outlined through the Joint Venture agreement between Avrupa and MATSA.
Investment summary:
AVU could prove to be a Fall 2021 success story for any trader’s metal and mining portfolio. Investors will want to keep their eyes out for multi-mineral companies like this that are active in prolific regions around Europe — a safe and stable jurisdiction that is perfect for a company that consistently delivers positive results.
Headquartered in Vancouver, BC, Avrupa Minerals explores in Europe and the general Mediterranean Basin for mineral deposits containing copper, zinc, lead, gold, and silver. The Alvalade Project is the Company’s “flagship property” and most advanced project. AVU is attempting to re-acquire its Slivovo Gold discovery in Kosovo and is looking elsewhere in Europe for suitable base and precious metal possibilities. The climate for exploration and mining in Europe has improved substantially over the past ten years, as the European Union sees the merits of being able to supply its own raw materials to provide a sustainable economic, social, and environmental future for its population. Avrupa is well-positioned to take advantage of the positive exploration and development potential in Europe, particularly with respect to Green Metals like copper and zinc.
For more on the company, visit
avrupaminerals.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.