Avrupa Minerals Closes Private Placement
July 12 2017 - 8:00PM
Avrupa Minerals Ltd. (TSXV:AVU) has closed the
recently announced private placement to raise $1,017,000 and issue
10,170,000 units at a price of $0.10. Each unit consists of
one common share and one warrant. Each warrant is exercisable
into a common share at $0.15 for 3 years expiring on July 12, 2020.
No finder’s fee was paid in this private placement. All
securities have a 4-month hold period expiring November 12, 2017.
Having recovered 100% ownership of the Alvalade
copper/lead/zinc VMS project in the Iberian Pyrite Belt (IPB) of
southern Portugal, Avrupa is assembling a data set for potential
partners to review. Interest in the project has been strong. The
geological team in Portugal has developed a geo-structural
exploration model for the IPB that has lead to successful drilling
on the Alvalade project. The exploration model is valid for
Avrupa’s other projects at Mertola and Marateca, and efforts to
joint venture these projects are underway.
Avrupa now has a total of 86,918,797 common shares
outstanding.
Avrupa Minerals Ltd. is a
growth-oriented exploration and development company focused on
discovery, using a prospect generator model, of valuable mineral
deposits in politically stable and prospective regions of Europe,
including Portugal, Kosovo, and Germany.
The Company currently holds nine exploration
licenses in three European countries, including six in Portugal
covering 3,271 km2, two in Kosovo covering 47 km2, and one in
Germany covering 307 km2. Avrupa now has three active option
and joint venture agreements, two in Portugal and one in Kosovo,
including:
- The Alvito Option Agreement with OZ Minerals
Limited covering one license in the Ossa Morena Zone in southern
Portugal, for IOCG deposits;
- The Covas JV, with Blackheath Resources,
covering one license in northern Portugal, for intrusion-related W
deposits; and
- Avrupa’s partner at the Slivovo Gold Project
in Kosovo is fully funding the program, allowing Avrupa to dilute
its ownership in the JV operating company Peshter Mining JSC.
If AVU ownership goes below 10%, the interest in the project
converts to a 2% NSR.
- In addition, in the Iberian Pyrite Belt of south Portugal, the
Company has 100% ownership of the Alvalade VMS
Project where previous partners have spent over US$ 7.6
million on exploration for VMS copper, zinc, and lead,
mineralization, resulting in discoveries at Sesmarias and Monte da
Bela Vista.
Avrupa is currently upgrading precious and base
metal targets to JV-ready status in a variety of districts on their
other licenses, with the idea of attracting potential partners to
project-specific and/or regional exploration programs.
For additional information, contact Avrupa Minerals
Ltd. at 1-604-687-3520 or visit our website at
www.avrupaminerals.com.
On behalf of the Board,
“Paul W.
Kuhn”
Paul W. Kuhn, President & Director
This news release was prepared by Company
management, who take full responsibility for its content.
Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed
Professional Geologist and a Registered Member of the Society of
Mining Engineers, is a Qualified Person as defined by National
Instrument 43-101 of the Canadian Securities Administrators.
He has reviewed the technical disclosure in this release. Mr.
Kuhn, the QP, has not only reviewed, but prepared and supervised
the preparation or approval of the scientific and technical content
in the news release.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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