Avrupa Minerals Signs Definitive Earn-In/Joint Venture Agreement with MATSA For Alvalade Project
November 20 2019 - 4:15PM
Avrupa Minerals Ltd. (TSXV: AVU) (US OTC:AVPMF)
(FRANKFURT:8AM) is pleased to report that it has
signed a definitive agreement with Minas de Aguas Teñidas, S.A.
(“MATSA”) 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 (“Newco”) 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 License (“EEL”) to Newco, as conditions precedent to
completing the agreement.
The terms of the MATSA Earn-in/Joint Venture
Agreement have already been published via Avrupa Minerals news
release on October 1, 2019. A copy of the news release may be
found on Avrupa’s website at www.avrupaminerals.com.
Paul W. Kuhn, President and CEO of Avrupa
Minerals, stated, “The signing of the Alvalade Agreement with MATSA
is another positive milestone for the Project and for Avrupa
Minerals. We are extremely pleased to be working with MATSA
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.”
Exploration Plans
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.
Minas de Aguas Teñidas, S.A.
(MATSA) is a private Spanish mining company which owns and
operates three mines in the province of Huelva (Andalusia, Spain):
Aguas Teñidas, Magdalena, and Sotiel. MATSA also holds 1,000
km2 of exploration licenses in the Iberian Pyrite Belt.
Focused on innovation and the most advanced technology to
develop modern and sustainable mines, MATSA is a 50:50 joint
venture company of Mubadala Investment Company, a pioneering global
investor, and Trafigura, one of the world’s leading independent
commodity trading and logistics houses.
Avrupa Minerals Ltd. is a
growth-oriented junior exploration and development company directed
to discovery of mineral deposits, using a hybrid prospect generator
business model. The Company holds one 100%-owned, presently
self-funded, flagship project in Portugal, the Alvalade VMS
Project. Avrupa focuses its project generation work in
politically stable and prospective regions of Europe, including
Portugal and Kosovo, and is presently reviewing new opportunities
elsewhere around the continent.
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. Statements in this press release,
other than purely historical information, including statements
relating to the Company’s future plans and objectives or expected
results, may include forward-looking statements.
Forward-looking statements are based on numerous assumptions and
are subject to all of the risks and uncertainties inherent in
resource exploration and development. As a result, actual
results may vary materially from those described in the
forward-looking statements.
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