Proactiveinvestors USA & Canada Avrupa Minerals Ltd https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Avrupa Minerals Ltd RSS feed en Sun, 26 May 2019 22:59:51 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Avrupa Minerals awaiting assays from drilling at Alvalade license in Portugal ]]> https://ca.proactiveinvestors.com/companies/news/214384/avrupa-minerals-awaiting-assays-from-drilling-at-alvalade-license-in-portugal-214384.html Avrupa Minerals Ltd (CVE:AVU) told investors that full assay results for drilling at the Sesmarias project on the Alvalade license in Portugal are expected at the end of this month (February).

The drill program is now complete and saw six holes drilled, totaling 2,498 meters, the Vancouver-based company said.

READ: Avrupa Minerals continues drilling at Alvalade project as it closes second tranche of financing

Project generator Avrupa said the program accomplished its goal of better technical understanding of the Sesmarias mineralizing system and significantly enlarging it.

Mineralization is open to the north for a further 500 to 1,000 meters more than previously assumed, the firm said, while the total strike length of potential target horizons now appears to reach over 2.5km, an increase from 1.8 km as previously reported.

Avrupa said the work tested a new exploration model and concepts, and the results included:

Providing a higher degree of predictability in the location of mineralization in the immediate Sesmarias project area; Enlarging the “10” Lens from 300 meters strike length to at least 600 meters long, up to 400 meters wide, and 25 meters thick; Intercepted a stockwork-stringer sulfide zone above the “10” Lens, providing evidence for a new, fourth lens/horizon, noted for now, as the “26” Horizon; Showing that mineralization is open to the east up to the bounding fault; and Showing that mineralization is open to the west up to the boundary of the Devonian-age Volcano-Sedimentary (VS) host rocks for mineralization and the overlying Tertiary-age gravels and semi-consolidated sediments.

This self-funded drilling program at Sesmarias is the seventh phase of drilling to be completed by Avrupa on the Alvalade license. 

In addition to further targets in the immediate Sesmarias project area, Avrupa said additional future drilling is anticipated for the Sesmarias-Lousal-Monte da Bela Vista District, as well as in other Avrupa-generated target areas with related Pyrite Belt-style massive sulfide targets and mineralization. 

Shares in Toronto were unchanged at $0.05.

Contact Giles at giles@proactiveinvestors.com

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Mon, 11 Feb 2019 11:32:00 -0500 https://ca.proactiveinvestors.com/companies/news/214384/avrupa-minerals-awaiting-assays-from-drilling-at-alvalade-license-in-portugal-214384.html
<![CDATA[News - Avrupa Minerals continues drilling at Alvalade project as it closes second tranche of financing ]]> https://ca.proactiveinvestors.com/companies/news/212181/avrupa-minerals-continues-drilling-at-alvalade-project-as-it-closes-second-tranche-of-financing-212181.html Prospect generator Avrupa Minerals Ltd (CVE:AVU) said it had closed the second tranche of a previously announced placing, bringing in $232,000

The company issued 4.64 million units and the total raised in the financing was $732,000.

READ: Avrupa Minerals set for $1.5 million financing to advance Alvalade project

Each unit consisted of one share and one share purchase warrant, which allows the holder to buy a further share until December 17, 2021, at $0.10  a throw.

The funds are for the Alvalade copper-zinc VMS (volcanogenic massive sulphide) project in Portugal, where drilling is continuing.

The company has completed two holes and is currently partway through the third hole, it said.

Avrupa is planning two additional holes. All five are in the Sesmarias discovery area.

The aim of the work is to expand the currently known mineralized areas and to outline higher-grade copper-zinc mineralization within the massive sulphide lenses.

Avrupa is focused on politically stable and prospective regions of Europe, including Portugal, Kosovo and Germany.

Avrupa shares are unchanged in Toronto at $0.06.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Tue, 08 Jan 2019 13:34:00 -0500 https://ca.proactiveinvestors.com/companies/news/212181/avrupa-minerals-continues-drilling-at-alvalade-project-as-it-closes-second-tranche-of-financing-212181.html
<![CDATA[News - Avrupa Minerals kicks off drilling at Alvalade property, south Portugal ]]> https://ca.proactiveinvestors.com/companies/news/210338/avrupa-minerals-kicks-off-drilling-at-alvalade-property-south-portugal-210338.html Avrupa Minerals Ltd (CVE:AVU) told investors it had started drilling at the Sesmarias copper-zinc discovery on its 100% owned Alvalade property in the Iberian Pyrite Belt (IPB) of southern Portugal.

The Vancouver-based firm said that it would sink up to seven diamond holes to enlarge at least two lenses of copper-and zinc-bearing massive sulfide mineralization, which was discovered by Avrupa during a previous exploration.

READ: Avrupa Minerals closes first tranche of private placement and starts Portugal drilling program

Recent work suggests the possibility that a third lens may be located, said Avrupa and plans are to enlarge, upgrade targets on all three lenses.

"The recent 3D modeling has given good support for placement of drill collars that will potentially upgrade the Sesmarias prospect.

"Taken together with the possibilities at the historic Lousal Mine, located six kilometers north of the Sesmarias prospect, and at the Monte da Bela Vista stockwork discovery, located two kilometers further north of the Lousal Mine, the Sesmarias area has the potential to become a significant copper and zinc district in the northern part of the Portuguese Pyrite Belt," said the company.

Funding for this drilling program comes from the recently announced $1.5 million private placing.

The first tranch has been completed and raised $500,000. The second and third tranches are underway.

Avrupa holds 100% of the Alvalade license. Previous partners have funded €7 million of exploration on the project.

Contact Giles Gwinnett at giles@proactiveinvestors.com

Follow him on Twitter @gile74

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Fri, 30 Nov 2018 14:24:00 -0500 https://ca.proactiveinvestors.com/companies/news/210338/avrupa-minerals-kicks-off-drilling-at-alvalade-property-south-portugal-210338.html
<![CDATA[News - Avrupa Minerals closes first tranche of private placement and starts Portugal drilling program ]]> https://ca.proactiveinvestors.com/companies/news/209020/avrupa-minerals-closes-first-tranche-of-private-placement-and-starts-portugal-drilling-program-209020.html Avrupa Minerals Ltd (TSX-V:AVU) said it has closed the first tranche of its private placement of $500,000 comprising of 10 million units. The company announced plans for the placement on October 22, 2018.

Each Unit comprises one common share and one common share purchase warrant that allows the holder to buy an additional share until November 9, 2021 at a price of $0.10 each. The securities have a four-month hold period which expires on March 10, 2019.

READ: Avrupa Minerals set for $1.5 million financing to advance Alvalade project

Avrupa has a provision to accelerate the exercise of the warrants if the common shares close at a price of $0.20 or higher for a period of 20 consecutive trading days. An insider participated in this first tranche for $56,000.

With the closing of this first tranche, Avrupa will commence its 2,500 to 3,000-meter drilling program at the Alvalade copper-zinc VMS Project in Portugal. 

The purpose of the program is to expand currently known mineralized areas, and then to outline higher grade copper-zinc mineralization within the massive sulfide lenses.

Avrupa Minerals Ltd is a junior exploration and development company focused on the discovery of mineral deposits using a prospect generator model. 

The company holds one 100%-owned, self-funded flagship project, the Alvalade VMS Project.  Avrupa focuses its project generation work in stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.

Reporting by Rene Pastor, contactable on rene.pastor@proactiveinvestors.com

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Mon, 12 Nov 2018 08:18:00 -0500 https://ca.proactiveinvestors.com/companies/news/209020/avrupa-minerals-closes-first-tranche-of-private-placement-and-starts-portugal-drilling-program-209020.html
<![CDATA[News - Avrupa Minerals set for $1.5 million financing to advance Alvalade project ]]> https://ca.proactiveinvestors.com/companies/news/207599/avrupa-minerals-set-for-15-million-financing-to-advance-alvalade-project-207599.html Avrupa Minerals Ltd (CVE:AVU) announced Monday a $1.5 million financing to pay for drilling at its Alvalade copper-zinc-lead VMS project in Portugal.

The company will issue 30 million units at $0.05 each.

Each unit consists of one share and one share purchase warrant, which will allow the holder to buy a further share for 36 months at $0.10 each.

The project generator firm recently announced a 2,500 to 3,000m drill program to expand the currently known mineralized areas and to determine the potential size of the mineralization found to date at its Alvalade VMS project in Portugal’s Iberian Pyrite Belt.

Most of the financing proceeds will be used for this drilling program, and positive results will determine the next steps for the program at Alvalade

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Mon, 22 Oct 2018 13:43:00 -0400 https://ca.proactiveinvestors.com/companies/news/207599/avrupa-minerals-set-for-15-million-financing-to-advance-alvalade-project-207599.html
<![CDATA[News - Avrupa Minerals set to retain 100% of Alvito IOCG project ]]> https://ca.proactiveinvestors.com/companies/news/206820/avrupa-minerals-set-to-retain-100-of-alvito-iocg-project-206820.html Avrupa Minerals Ltd (CVE:AVU) said it will keep a 100% interest in its Alvito iron oxide copper-gold (IOCG) project in south Portugal.

It comes as partner OZ Minerals has declined to earn its potential interest in the project.

Avrupa was the operator of the summer drill program and intersected reportable anomalous copper results in eight out of 18 drill holes. 

The best overall consistent results came from the Entre Matinhas target where copper values in six of eight holes came in at 0.1% and greater over intervals of 1.5 meters to 86 meters.

Avrupa noted it was now free to advance the project with further drilling next summer or establish a new option agreement with another partner.

Also in today's statement, the potential option partner announced in March for Avrupa’s Alvalade VMS project is continuing to complete its due diligence, the firm said.

Both parties are now moving forward on the transaction, despite the formal expiry of the letter of intent, noted Avrupa.

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Wed, 10 Oct 2018 13:22:00 -0400 https://ca.proactiveinvestors.com/companies/news/206820/avrupa-minerals-set-to-retain-100-of-alvito-iocg-project-206820.html
<![CDATA[Media files - Avrupa Minerals very encouraged with first-pass drilling at Alvito project ]]> https://ca.proactiveinvestors.com/companies/stocktube/10627/avrupa-minerals-very-encouraged-with-first-pass-drilling-at-alvito-project-10627.html Wed, 26 Sep 2018 17:26:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/10627/avrupa-minerals-very-encouraged-with-first-pass-drilling-at-alvito-project-10627.html <![CDATA[News - Avrupa Minerals says first-pass drilling at the Alvito project shows significant potential ]]> https://ca.proactiveinvestors.com/companies/news/205668/avrupa-minerals-says-first-pass-drilling-at-the-alvito-project-shows-significant-potential-205668.html Avrupa Minerals Ltd (CVE:AVU) has been encouraged by first drilling at the Alvito iron oxide copper-gold (IOCG) project in south Portugal.

The work was funded by OZ Minerals, which is spending A$1 million on exploration to earn 51% of the 300 sq km project.  Avrupa is the operator of the programme. The work comprised 18 holes in eight separate targets but most of the drilling was in the Entre Matinhas area.

READ: Avrupa Minerals Ltd. unveils update on Portugal projects

Here, copper values in six of eight holes came in at 0.1% and greater over intervals of between 1.5 meters and 86 meters. A highlight was 2.55 meters at 0.91% copper in one hole.

In another target area, the group found 4.7 meters at 0.13% copper in another hole.

Avrupa noted that the first-pass drilling programme covered only a limited area at shallow depths, yet the results "clearly demonstrate real, close-to-surface potential for IOCG mineralisation in a well-defined, easily prospectable target area".

CEO and president at the firm Paul Kuhn said: "We are excited that the initial work shows significant IOCG mineralization potential in a select and specific target area on the Alvito project. 

"Our work around the property indicates that there are more target areas of interest, however, we have made an excellent start by defining the general Entre Matinhas target as the first priority for further exploration."

Further IOCG-style mineralization and alteration are present in the Manisela target area, north of Entre Matinhas, and at Entre as Matas, northeast of Entre Matinhas.

Meanwhile, first-pass geological mapping and ground geophysics suggest that the area to the west of Entre Matinhas and Manisela may also host IOCG possibilities in the Vale da Rata, Nogueira, Vale Nogueira, and 1440 target areas said Avrupa.

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Tue, 25 Sep 2018 10:42:00 -0400 https://ca.proactiveinvestors.com/companies/news/205668/avrupa-minerals-says-first-pass-drilling-at-the-alvito-project-shows-significant-potential-205668.html
<![CDATA[News - Avrupa Minerals Ltd. unveils update on Portugal projects ]]> https://ca.proactiveinvestors.com/companies/news/202406/avrupa-minerals-ltd-unveils-update-on-portugal-projects-202406.html Avrupa Minerals Ltd. (CVE:AVU) unveiled an update on its recent exploration activities in Portugal on Tuesday.  

At its Alvito Iron Oxide Copper-Gold (IOCG) project, the company completed drilling in a joint venture with OZ Minerals. The work is being funded by partner OZ Minerals, which are spending A$1mln on exploration to earn-in to 51% of the 300 sq km project. Avrupa is the operator. 

Avrupa drilled 18 holes, totaling 2,437.5 metres in eight separate prospect areas on the Alvito exploration license.

READ: Avrupa Minerals completes supplemental drill program at Alvito project

The company said IOCG-style mineralization is present in drill holes in at least two of the prospect areas, Entre Matinhas and Entre as Matas. Possible IOCG-style sulfide mineralization is present in drill holes at the Outeiro and Manisela prospects. Epithermal-style sulfide mineralization is present at the Mata and Cova das Minas prospects. 

All samples from drill holes with IOCG-style mineralization have now been processed and delivered to the ALS Minerals prep lab in Seville, Spain, with results being expected during the second half of August.

Pyrite Belt licenses 

At its Pyrite Belt licenses (Alvalade, Mertola, and Marateca) the company continues in a negotiation process with a large, North American mining company to joint venture all three licenses.

The company said the process has been slower-than-anticipated but continues to move forward.

In the meantime, Avrupa continues to explore on the licenses, maintaining the validity of the licenses for the anticipated joint venture.

Covas Tungsten project

At the Covas Tungsten Project, Blackheath Resources has notified Avrupa of their intention to cease funding. Avrupa has let the license lapse and is in the process of handing over data and core to the Geological Survey of Portugal (LNEG), as required by the mining regulations of Portugal.

Avrupa currently holds seven exploration licenses in three European countries, including four in Portugal, two in Kosovo and one in Germany.  Avrupa now has five active option and joint ventures, four in Portugal and one in Kosovo. 

Shares of Avrupa were at C$0.09 on Tuesday. 

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Tue, 07 Aug 2018 12:11:00 -0400 https://ca.proactiveinvestors.com/companies/news/202406/avrupa-minerals-ltd-unveils-update-on-portugal-projects-202406.html
<![CDATA[News - Avrupa Minerals completes supplemental drill program at Alvito project ]]> https://ca.proactiveinvestors.com/companies/news/200064/avrupa-minerals-completes-supplemental-drill-program-at-alvito-project-200064.html Avrupa Minerals Ltd (CVE:AVU) updated on its Alvito IOCG (iron oxide, copper gold) project in south Portugal, saying it had just completed a supplemental drill program.

The work is being funded by partner OZ Minerals, whichj are spending A$1mln on exploration to earn-in to 51% of the 300 sq km project. Avrupa is the operator.. 

So far, Avrupa has completed an initial program of 15 drill holes, totaling 2,127 meters, in eight separate prospect areas within the Alvito license.

A team consisting of Avrupa and Oz geologists overseeing the progress of the project agreed to a supplemental program of three additional holes, totaling 300 meters, in the Entre Matinhas prospect area.

This drilling has just been completed, and the drill rig has been removed from the project, Avrupa said. Samples from the first two drill holes in this area have just been sent to the lab.

Avrupa expects to have all processing completed and samples into the laboratory by the second half of July. 

Drilling at several of the other prospects at Alvito, including Entre as Matas, Mata, and Monte do Outeiro hit zones of alteration and mineralization, the firm noted.

Junior explorer Avrupa is 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.

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Tue, 03 Jul 2018 11:02:00 -0400 https://ca.proactiveinvestors.com/companies/news/200064/avrupa-minerals-completes-supplemental-drill-program-at-alvito-project-200064.html
<![CDATA[News - Avrupa Minerals kicks off drilling at its Alvito project in South Portugal ]]> https://ca.proactiveinvestors.com/companies/news/196363/avrupa-minerals-kicks-off-drilling-at-its-alvito-project-in-south-portugal-196363.html Avrupa Minerals Ltd (CVE:AVU) has kicked off drilling at its Alvito project in South Portugal.

In a statement, the company said it has completed ground magnetics and gravity geophysical surveys, geological mapping, rock chip sampling, and drill targeting.

READ: Avrupa Minerals brings in C$550,000 after closing placing

Exploration work on the project is funded by OZ Minerals, which is spending A$1mln on exploration to earn-in to 51% of the 300-square kilometer project. 

Avrupa and OZ geologists consider the targets to potentially fit into the exploration model for iron oxide (magnetite) copper gold (IOCG) deposits.

The proposed drill project has now been increased to 15 holes and approximately 2,100 meters at seven separate target areas.

Drilling will start in the Entre Matinhas target area, and continue in the Manisela, Mata, Outeiro, Entre as Matas, Cova das Minas, Ribeira, and Vale Nogueira areas.

The programme is expected to continue for 1-½ to 2 months, with results anticipated by the end of the second quarter 2018.

Paul W.Kuhn, president and CEO said: “We are certainly ready and excited for the start-up of the drilling programme after a year of exploration around the licence. 

“Our partner OZ Minerals has continued to provide funding and technical support for the programme, and we are looking forward to seeing the results of this first truly systematic exploration programme in the Alvito Project area.”

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Thu, 03 May 2018 10:21:00 -0400 https://ca.proactiveinvestors.com/companies/news/196363/avrupa-minerals-kicks-off-drilling-at-its-alvito-project-in-south-portugal-196363.html
<![CDATA[Media files - Avrupa Minerals CEO Paul Kuhn presents to investors at the Mining Capital Conference ]]> https://ca.proactiveinvestors.com/companies/stocktube/6539/avrupa-minerals-ceo-paul-kuhn-presents-to-investors-at-the-mining-capital-conference-6539.html Mon, 05 Dec 2016 10:41:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/6539/avrupa-minerals-ceo-paul-kuhn-presents-to-investors-at-the-mining-capital-conference-6539.html <![CDATA[Media files - Avrupa investors get 'good exposure to a lot of different metals', says chairman ]]> https://ca.proactiveinvestors.com/companies/stocktube/6514/avrupa-investors-get-good-exposure-to-a-lot-of-different-metals-says-chairman-6514.html Wed, 30 Nov 2016 21:47:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/6514/avrupa-investors-get-good-exposure-to-a-lot-of-different-metals-says-chairman-6514.html <![CDATA[Media files - Avrupa Minerals chief hails "exciting" Portugal project pipeline ]]> https://ca.proactiveinvestors.com/companies/stocktube/6022/avrupa-minerals-chief-hails-exciting-portugal-project-pipeline-6022.html Thu, 22 Sep 2016 13:36:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/6022/avrupa-minerals-chief-hails-exciting-portugal-project-pipeline-6022.html <![CDATA[Media files - Avrupa Minerals boss excited by potential at Slivovo project ]]> https://ca.proactiveinvestors.com/companies/stocktube/5408/avrupa-minerals-boss-excited-by-potential-at-slivovo-project-5408.html Wed, 17 Aug 2016 10:36:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/5408/avrupa-minerals-boss-excited-by-potential-at-slivovo-project-5408.html <![CDATA[Media files - Avrupa Minerals pushing ahead with prospect generator model ]]> https://ca.proactiveinvestors.com/companies/stocktube/4438/avrupa-minerals-pushing-ahead-with-prospect-generator-model-4438.html Fri, 04 Dec 2015 08:58:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/4438/avrupa-minerals-pushing-ahead-with-prospect-generator-model-4438.html <![CDATA[News - Avrupa says plenty of room for further drilling at Slivovo in Kosovo ]]> https://ca.proactiveinvestors.com/companies/news/105231/avrupa-says-plenty-of-room-for-further-drilling-at-slivovo-in-kosovo-59494.html Avrupa Minerals (CVE:AVU) has intersected more gold at its joint venture Slivovo property in Kosovo, with drilling to begin again towards the end of March.

The company reported results from two holes, which included a 12 metre intercept of 12.2 grams per tonne (g/t) gold and 8.02 g/t silver in hole SLV005. This interval included a 7.4 metre intercept of 19.3 g/t gold and 9.32 g/t silver, with visible gold present in a number of sports throughout the interval, Avrupa said.

The second hole, SLV006, returned 10.8 metres of 1.25 g/t gold and 15.1 g/t silver and 3.4 metres of 3.12 g/t gold and 20.8 g/t silver.

So far, Avrupa has drilled eight holes in the first phase of its program, for about 1,000 metres of drilling. The campaign has been suspended on account of the winter weather, but is expected to begin again near the end of March.

The next holes are planned in the epithermal target area, Avrupa said, which will allow time to construct access to further drill sites in the gossan zone.

"We continue to be extremely pleased with the results at Slivovo, particularly those from SLV005," said president and chief executive officer Paul Kuhn.

"We have determined that the probable true thickness of the Slivovo gold mineralization is at least 12 meters, at a distance of approximately 100 meters down the dip of the host sulfide block. Surface outcrops of mineralization suggest that the true thickness may reach to over 20 meters, up dip, closer to the surface."

"While gold results in SLV006 were not as outstanding as those of SLV004 and SLV005, we have shown that the mineralization continues down dip, and that there is plenty of room for further drilling, both along width and at depth."

Every drill hole so far has added to the company's knowledge of the project, and has upgraded its model, Kuhn added, saying he is excited about the potential.

The property is funded by Avrupa's partner Byrnecut International, but is being operated by Avrupa. Shares of Avrupa surged last month after announcing results from hole SLV004 at Slivovo.  The full 126.5 metre intercept returned grades of 6.2 g/t gold, 15.0 g/t silver, 0.092% copper, 0.16% lead and 0.45% zinc.

Avrupa, which holds a total of 11 exploration licenses in Portugal, Kosovo and Germany, had three partner companies fund a total of five drilling programs on its properties last year, excluding Slivovo. Its stock has nearly doubled in the past 12 months.

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Tue, 27 Jan 2015 10:51:00 -0500 https://ca.proactiveinvestors.com/companies/news/105231/avrupa-says-plenty-of-room-for-further-drilling-at-slivovo-in-kosovo-59494.html
<![CDATA[News - Avrupa shares double on new high grade gold find in Kosovo ]]> https://ca.proactiveinvestors.com/companies/news/104733/avrupa-shares-double-on-new-high-grade-gold-find-in-kosovo-104733.html Shares of Avrupa Minerals (CVE:AVU) surged to a new 52-week high today after announcing a new high grade gold discovery at its Slivovo joint venture in Kosovo.

The project, which is operated by Avrupa and funded by partner Byrnecut International, was the subject of its first-ever drill program.

The gold discovery was made in the fourth drill hole, SLV004, from surface. The full 126.5 metre intercept returned grades of 6.2 grams per tonne (g/t) gold, 15.0 g/t silver, 0.092% copper, 0.16% lead and 0.45% zinc, according to the junior explorer's statement released earlier Wednesday.

Shares soared as much as 100 percent at the open today, to 40 Canadian cents, a new annual high for the company, and were lately up at 29.5 cents, an increase of 47.5 percent.

The company said the semi-massive sulfidic mineralized block ranges from 30 metres thick to potentially as much as over 80 metres thick. Detailed mapping also suggests the block may be up to 100 metres wide, Avrupa added.

The mineralized block plunges at least 175 metres, and remains open down plunge. Results from further holes, including the fifth and sixth drill holes, are expected in January.

 "We are extremely excited and positive about the initial results at Slivovo," said president and chief executive officer Paul Kuhn.

"In addition to the strong gold results from SLV004, we are also quite excited about the presence of significant copper anomalism in the drill hole, which may point to the possibility of a larger porphyry system located in the lower plate rocks, underneath the thrust fault."       

To date, the company has completed seven holes at the site, for a total of 818 metres, including five targeting the Pester "sulfide-oxide gossan" zone, and two targeting the Pester "Southwest gossan extension". Drilling is ongoing, weather permitting, Avrupa said, until a total of 2,000 metres is completed.

Avrupa, which holds a total of 11 exploration licenses in Portugal, Kosovo and Germany, has had three partner companies fund a total of five drilling programs on its properties this year, excluding Slivovo.

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Wed, 17 Dec 2014 10:24:00 -0500 https://ca.proactiveinvestors.com/companies/news/104733/avrupa-shares-double-on-new-high-grade-gold-find-in-kosovo-104733.html
<![CDATA[News - Avrupa advances exploration in Portugal ]]> https://ca.proactiveinvestors.com/companies/news/103803/avrupa-advances-exploration-in-portugal--57621.html Avrupa Minerals (CVE:AVU) provided an update on its exploration advances in Portugal, saying its partner Antofagasta has earned 60 percent of the Alvalade property by spending a total of US$6.3 million, which resulted in existing targets extended and new ones found.

The company recently completed another successful round of drilling at the joint venture, resulting in a further increase in the strike length of the Sesmarias West target, and revealing the potential for a 10km-long basin, Avrupa said.

The drilling also resulted in a new model for potential massive sulfide mineralization in the Sesmarias East sub-basin, which will be drill tested in the fourth quarter.

The recent work in the Sesmarias basin has increased the length of the target area to 1.5km in the Sesmarias West zone, according to the junior explorer's statement. 

Avrupa also found a new target basin in the Pombal area, some 15 km south of Sesmarias. More than 17,000 metres have been drilled to date at the Alvalade project, resulting in the discovery of massive sulfide mineralization at Sesmarias and a large zone at Monte da Bela Vista.

At its Covas joint venture with Blackheath Resources, Avrupa said phase three drilling is continuing, with 16 holes drilled so far. The rig is currently moving to the Telheira area, where it plans to drill several geophysical targets, it added.

Meanwhile, Avrupa also has an exploration alliance with Callinan Royalties, with exploration ongoing. Work so far has taken place in northern and central Portugal, particularly in the gold-tungsten belt, and in southern Portugal as well. The company has also completed work under this alliance at the Alvito license, which the third party is currently reviewing for potential targets.

In addition, the company recently received two new licenses in the Pyrite belt of southern Portugal, called the Santa Margarida do Sado and the Mertola licenses. Work is planned for both of these properties in the next year, to bring them to joint-venture ready status, Avrupa said.

Licenses that were dropped this year include Arga, Arcas, Sabroso and Candedo, due to results unsuitable for potential joint venture projects, the company noted.

Avrupa, which holds a total of 15 exploration licenses in Portugal, Kosovo and Germany, has had three partner companies fund a total of five drilling programs on its properties this year, excluding Slivovo in Kosovo.

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Thu, 23 Oct 2014 12:24:00 -0400 https://ca.proactiveinvestors.com/companies/news/103803/avrupa-advances-exploration-in-portugal--57621.html
<![CDATA[News - Avrupa Minerals' Slivovo JV moves to next exploration stage as partner continues to fund ]]> https://ca.proactiveinvestors.com/companies/news/103244/avrupa-minerals-slivovo-jv-moves-to-next-exploration-stage-as-partner-continues-to-fund-56800.html Avrupa Minerals (CVE:AVU) says its Slivovo joint venture in Kosovo is moving to the drilling stage, as partner Byrnecut International has decided to continue funding the project in order to vest into its 51 percent stake. 

Byrnecut has to spend a further EUR640,000 to reach the vesting level, Avrupa said, and will fund continuing exploration, including the upcoming 2,000 metre drilling program. 

Work on the project has been going on throughout the summer, with new targets identified around the Pester gossan zone. 

The gossan zone has been extended southwest by over 300 metres, while the so-called epithermal zone, located further to the west, has been extended northwards by several hundred metres as well, Avrupa said. Geological work is continuing in the northern part of this zone, as well as on other targets on the license.

The mineral explorer said mineralization at the project runs for over 1,000 metres along an east northeast-trending corridor. It is suspected that the various targets at Pester suggest the presence of a buried porphyry system.

"We are extremely pleased by Byrnecut's decision to continue with the project," said president and chief executive officer of Avrupa, Paul W. Kuhn. 

"Results have been positive for all of our targeting work at Pester this summer. We have expanded the target area, and we have constructed an exploration targeting model that hangs together for the prospect."

Avrupa, the operator of the JV, is expecting to drill eight holes, or 2,000 metres on all three zones at the project, while also anticipating a new target area at the north end of the epithermal zone.

Plans for the drilling program are being made up, with locations already sighted to test the target zones, with drilling slated to begin in late September.

Avrupa, which holds a total of 15 exploration licenses in Portugal, Kosovo and Germany, has had three partner companies fund a total of five drilling programs on its properties this year, excluding Slivovo. 

It recently begun a third phase of drilling at its Covas joint venture project in Portugal with Blackheath Resources, which will initially centre on the eastern side of the property. 

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Mon, 15 Sep 2014 10:42:00 -0400 https://ca.proactiveinvestors.com/companies/news/103244/avrupa-minerals-slivovo-jv-moves-to-next-exploration-stage-as-partner-continues-to-fund-56800.html
<![CDATA[News - Avrupa Minerals wraps up $1.1 mln financing ]]> https://ca.proactiveinvestors.com/companies/news/103047/avrupa-minerals-wraps-up-11-mln-financing-56519.html Avrupa Minerals (CVE:AVU) has closed the $1.1 million financing it first announced earlier this month, the amount of which was then doubled shortly afterward due to strong shareholder support.

The junior mineral explorer had initially announced on August 5 that it planned to raise $500,000, but the financing was oversubscribed, and subsequently increased on August 12 to $1.1 million.

Participants included strategic existing shareholders, individual investors and the management team. The company said insiders participated in the offering for a total of 735,000 units.

Avrupa issued 4.4 million units at a price of 25 cents apiece, with each unit comprised of a common share and one share purchase warrant. Every warrant entitles the holder to buy one additional share at a price of 40 cents each for a 36 month period.

"Avrupa is pleased with the continued strong support shown by the core strategic shareholder group including insiders, Callinan, and certain individual investors," said director Mark T. Brown.

"With this financing completed, the company is in a strong position to look for more strategic partners to advance its other properties, along with the three joint-venture partners' programs and the exploration alliance with Callinan."

Avrupa, which holds a total of 15 exploration licenses in Portugal, Kosovo and Germany, has had three partner companies fund a total of five drilling programs on its properties this year, including three campaigns at its Alvalade joint venture, where three sets of encouraging drilling intercepts have been announced recently. 

Avrupa has also benefited from its exploration alliance with Callinan Royalties by being able to conduct exploration work to upgrade its projects to a level that would attract interest from potential partners.

It already operates three joint ventures in Portugal, and one in Kosovo.  It recently begun a third phase of drilling at its Covas joint venture project in Portugal with Blackheath Resources, which will initially centre on the eastern side of the property.    

As at the closing of this latest financing, Avrupa now has 43.37 million common shares outstanding.

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Mon, 25 Aug 2014 15:30:00 -0400 https://ca.proactiveinvestors.com/companies/news/103047/avrupa-minerals-wraps-up-11-mln-financing-56519.html
<![CDATA[News - Avrupa starts third phase of drilling at Covas in efforts to increase tungsten resources ]]> https://ca.proactiveinvestors.com/companies/news/102810/avrupa-starts-third-phase-of-drilling-at-covas-in-efforts-to-increase-tungsten-resources-56158.html Avrupa Minerals (CVE:AVU) has begun a third phase of drilling at its Covas joint venture project in Portugal with Blackheath Resources, which will initially centre on the eastern side of the property.

Specifically, the first part of the new phase three program will focus on the Lapa Grander, Muito Seco, Castelo and Boundary targets, Avrupa said, where previous joint venture and historic drilling showed "good potential for development of high grade tungsten resources."

The company, which is also the operator of the project, is anticipating up to 15 shallow drill holes, for about 1,100 metres in these areas. The aim is to increase and better define the tungsten resources in the four targets, as well as to potentially connect several of the known lenses of mineralization.

"It is exciting to get the third phase drilling campaign started, as we will be keying in on known high grade WO3 areas around the Covas prospect," said president and chief executive Paul Kuhn.

"The JV has put a lot of energy into upgrading the targets this year, with a strong surface exploration effort, and we are looking forward to positive results from Lapa Grande, Castelo, and Telheira, in particular."

Indeed, the second part of the phase three campaign will be directed towards the Telheira target and other possibilities on the western side of Covas. The company is still reviewing data from the area from a summer fieldwork program, but expects to drill five holes, totaling between 200 to 400 metres.

Covas is a past-producing tungsten mine, with remaining historic resources on the property estimated at 922,900 metric tonnes grading 0.78%. Mineralization is still open to expansion, Avrupa said.

Avrupa, which holds a total of 15 exploration licenses in Portugal, Kosovo and Germany, has had three partner companies fund a total of five drilling programs on its properties this year, including three campaigns at its Alvalade joint venture, where three sets of encouraging drilling intercepts have been announced recently. 

The junior explorer earlier this week doubled the amount it is raising in its current financing to $1.0 million, on strong shareholder support.

The company has also benefited this year from its exploration alliance with Callinan Royalties by being able to conduct exploration work to upgrade its projects to a level that would attract interest from potential partners.

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Thu, 14 Aug 2014 11:09:00 -0400 https://ca.proactiveinvestors.com/companies/news/102810/avrupa-starts-third-phase-of-drilling-at-covas-in-efforts-to-increase-tungsten-resources-56158.html
<![CDATA[News - Avrupa doubles financing to $1 mln on strong shareholder support ]]> https://ca.proactiveinvestors.com/companies/news/102757/avrupa-doubles-financing-to-1-mln-on-strong-shareholder-support-56084.html Avrupa Minerals  (CVE:AVU) has doubled the amount it is raising in its current financing to $1.0 million, the company announced on Tuesday.

The junior mineral explorer had initially announced earlier this month that it planned to raise $500,000, but the financing was oversubscribed, and subsequently increased. 

Participants include existing investors, the company said, who are able to assist Avrupa in the future. The financing is expected to close shortly.

"Avrupa is pleased with the continued strong support shown by the core strategic shareholder group," said president and chief executive Paul Kuhn.

"Our three joint-venture partners' programs in 2014, as well as the exploration alliance with Callinan Royalties, will benefit the existing and new shareholders, and the success at the Alvalade project will also keep us active in the near future."

The financing will now be made up of 4.0 million units at a price of 25 cents apiece, with each unit comprised of a common share and one share purchase warrant. Every warrant entitles the holder to buy one additional share at a price of 40 cents each for a 36 month period.

The company will now have 42.97 million shares outstanding, with its core shareholder group continuing to be comprised of insiders, Callinan, and individual investors.

Avrupa, which holds a total of 15 exploration licenses in Portugal, Kosovo and Germany, has had three partner companies fund a total of five drilling programs on its properties this year, including three campaigns at its Alvalade joint venture, where three sets of encouraging drilling intercepts have been announced recently. 

Avrupa has also benefited from its exploration alliance with Callinan Royalties by being able to conduct exploration work to upgrade its projects to a level that would attract interest from potential partners.

It already operates three joint ventures in Portugal, and one in Kosovo.

The junior explorer announced in July that it will start a 2,000 metre drill program at its Slivovo joint venture in Kosovo in mid-September, following encouraging rock and soil sample results. 

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Tue, 12 Aug 2014 10:38:00 -0400 https://ca.proactiveinvestors.com/companies/news/102757/avrupa-doubles-financing-to-1-mln-on-strong-shareholder-support-56084.html
<![CDATA[News - Avrupa raising $500,000 amid "best year yet" for the junior explorer ]]> https://ca.proactiveinvestors.com/companies/news/102640/avrupa-raising-500000-amid-best-year-yet-for-the-junior-explorer-55926.html Avrupa Minerals (CVE:AVU) is raising $500,000 through a private placement financing as the company continues to develop its properties in what it believes has been its best year yet.

The non-brokered placement will consist of 2 million units at at a price of 25 cents apiece, with each unit made up of one common share and one share purchase warrant. Every warrant will entitle the holder to purchase one additional common share at a price of 40 cents apiece for a 36-month period. 

"We have had our best year yet, in terms of being active on several projects, and the success at the Alvalade project will keep us active for some time," said chief executive Paul Kuhn.

Indeed, the company, which holds a total of 15 exploration licenses in Portugal, Kosovo and Germany, has had three partner companies fund a total of five drilling programs on its properties this year, including three campaigns at its Alvalade joint venture, where three sets of encouraging drilling intercepts have been announced recently. 

Avrupa has also benefited from its exploration alliance with Callinan Royalties by being able to conduct exploration work to upgrade its projects to a level that would attract interest from potential partners, it said.

The company maintains a low cost structure, with some of its public company admin costs paid with fees earned by operating the exploration programs for partners on its European projects. It already operates three joint ventures in Portugal, and one in Kosovo.             

Avrupa said that as a result of the financing, its shares outstanding will increase to 40.97 million from 38.97 million, but that its core strategic shareholder group -- made up of insiders, Callinan and certain individual investors -- will continue to hold a significant amount of Avrupa shares.

The junior explorer announced last week it will start a 2,000 metre drill program at its Slivovo joint venture in Kosovo in mid-September, following encouraging rock and soil sample results. 

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Tue, 05 Aug 2014 11:11:00 -0400 https://ca.proactiveinvestors.com/companies/news/102640/avrupa-raising-500000-amid-best-year-yet-for-the-junior-explorer-55926.html
<![CDATA[News - Avrupa to begin 2,000 metre drilling program at Slivovo in September after strong sampling ]]> https://ca.proactiveinvestors.com/companies/news/102606/avrupa-to-begin-2000-metre-drilling-program-at-slivovo-in-september-after-strong-sampling-55865.html Avrupa Minerals (CVE:AVU) says it will start a 2,000 metre drill program at its Slivovo joint venture in Kosovo in mid-September, following encouraging rock and soil sample results. 

The company, in an update to investors last night, said 1,300 rock and soil samples had been collected at the property, and 1,615 metres of trenching had been completed since the project restarted in April when the joint venture agreement was finalized. 

Of the samples, 39 returned an average grade of 2.9 grams per tonne (g/t) gold, with a top cut of 10 g/t gold, and 5 samples contained more than 10 g/t gold, ranging from 12.25 to up to 389 g/t gold.

The project, which covers once license in central Kosovo for gold and base metals, is operated by Avrupa and funded by Byrnecut International. 

Avrupa said its geologists have focused their work so far around two primary targets on the property, including a gold-silver-lead-zinc-bearing gossan, and an epithermal gold-polymetallic target located about 1km away. Both zones are open for extensions, according to Avrupa's statement released late Thursday.

The company is also in the process of adding several new zones of interest, it said, all requiring further follow-up work. 

Meanwhile, rock results from the trenching work completed thus far are still pending, while geological mapping is underway, with the completion of both expected to help with the placement of drill collars for the upcoming campaign this fall.

"The work at Slivovo is progressing quickly," said president and CEO Paul Kuhn. 

"The strength of the surface gold and base metal anomalism at our two first-order targets is impressive, and a great sign for our planned drill program. This is a greenfields exploration discovery and a testament to the diligence of our program in Kosovo."            

Avrupa also holds two other licenses in Kosovo that are available for joint venture, known as the Kamenica and Glavej projects, for which it is actively seeking potential partners, it said.

The junior exploration company has a portfolio of projects in Portugal, Kosovo and Germany which it is looking to joint venture. It holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It already operates three joint ventures in Portugal, and one in Kosovo.             

Shares of the Vancouver, BC-based mineral explorer closed Thursday at 26 cents, 8 cents shy of its 52-week high.

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Fri, 01 Aug 2014 09:31:00 -0400 https://ca.proactiveinvestors.com/companies/news/102606/avrupa-to-begin-2000-metre-drilling-program-at-slivovo-in-september-after-strong-sampling-55865.html
<![CDATA[News - Avrupa discovers potential for new massive sulfide system at Alvalade ]]> https://ca.proactiveinvestors.com/companies/news/102483/avrupa-discovers-potential-for-new-massive-sulfide-system-at-alvalade-55703.html Avrupa Minerals (CVE:AVU) has drilled 57.85 metres of massive sulfides at the Sesmarias area of its Alvalade joint venture project in Portugal, which the company says is encouraging for the potential of a large-scale sulfide system, despite the structural challenges encountered so far in exploring the target.

The Alvalade project is operated by Avrupa and funded by Antofagasta plc, with the two parties having drilled a further five holes in the Sesmarias area to follow up on an initial program completed earlier this year.

Of the highlights from the latest program, Avrupa said a thick, massive sulfide intercept in hole SES010, which started at a depth of 228.4 metres, continued for 57.85 metres to 286.25 metres in depth. Average grades of the entire intercept were 0.32% copper, 0.61% lead, 1.95% zinc, 0.45 grams per tonne (g/t) gold and 25.1 g/t silver. 

The Sesmarias target area is heavily faulted, with rocks contorted and displaced, according to Avrupa's statement, making exploration in the zone extremely difficult. Nevertheless, the latest results clearly indicate, the company said, the potential for a large-scale mineralized system, with further drilling planned to investigate.

"Continuing work in the Sesmarias area shows favorable potential for future success in this apparent massive sulfide system," said president and CEO of Avrupa, Paul W. Kuhn.

"The work, to date, has identified a specific and continuous target horizon for massive sulfide mineralization in this part of the Alvalade license."

The chief executive said that so far, the company has been focused on extending the strike length of the Sesmarias target, and has yet to seriously test the down dip potential. 

The joint venture team is currently working to unravel the structural complications at hand, taking new data and refining its targeting model in order to better drill the area in the future. 

"Our work has also shown a number of new targets nearby, in the Sesmarias area, which we hope to follow-up after more detailed review of the existing drill core," Kuhn added.

In total, the joint venture at Alvalade has completed 13 holes at Sesmarias, over a strike length of 1,700 metres. Avrupa said that historic drilling missed the actual target rock package at Sesmarias, leaving a 2,500 metre strike length of "never-before-been drilled" target area.

The potential size of the system is the size of the giant Neves-Corvo deposits owned by Lundin Mining, which are just 50 km southeast of Sesmarias, according to the company's statement.

In the meantime, while reviewing continues at Sesmarias, drilling has moved to other targets along the Neves Corvo trend, with the joint venture planning to drill up to four more exploration holes through August, and about 1,400 more metres in this phase of the project.

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Fri, 25 Jul 2014 10:04:00 -0400 https://ca.proactiveinvestors.com/companies/news/102483/avrupa-discovers-potential-for-new-massive-sulfide-system-at-alvalade-55703.html
<![CDATA[News - Avrupa rises as JV plans progress for Portugal properties ]]> https://ca.proactiveinvestors.com/companies/news/101908/avrupa-rises-as-jv-plans-progress-for-portugal-properties-54882.html Avrupa Minerals (CVE:AVU) shares rose over 15% on Thursday, extending year-to-date gains which have seen the company's stock more than double since the beginning of the year as it continues to advance its portfolio of projects to joint venture status.

Shares advanced 15.2% to 19 Canadian cents today, stretching year-to-date gains to over 153%.

In a recent update, Avrupa said it is planning to drill at both its Alvalade and Covas joint ventures in Portugal this summer, while also continuing joint venture discussions for its other properties in the region and beginning exploration at its license in Germany.

The news came as part of an update on the company's portfolio of projects, which span Portugal, Kosovo and Germany. The explorer is looking to joint venture these properties, holding a total of 15 exploration licenses in these European countries, including nine in Portugal. It already operates three joint ventures in Portugal, and recently signed an option deal for its Kosovo project.

At its Alvalade joint venture in Portugal with Antofagasta Minerals, Avrupa said it will initiate a further round of exploration drilling, which will target potential extensions of the Sesmarias mineralization. The partners are budgeting for 2,700 to 3,000 metres of core drilling, with drilling having started earlier this month.

Meanwhile, at its Covas joint venture with Blackheath Resources, the partners are currently undertaking a geophysical program to help identify high grade tungsten targets, with work anticipated to be finished by the end of June. The companies expect to begin a core drilling campaign at Covas as well, with the aim of extending known high grade tungsten mineralization to help in outlining a maiden resource estimate.

Avrupa said it has also completed another stage of work at its Alvito license in Portugal, bringing the property up to joint venture-ready status, with the company "actively engaging a potential partner" for the project. Work over the past year at the asset has found eight separate copper and copper-gold targets and another 14 polymetallic targets around the license, the company said.

Also in Portugal, Avrupa is hoping to complete the acquisition of a new license before the end of the year, while two other license applications are to be signed in the coming weeks.

In Germany, at the company's Oelsnitz project in Erzgebirge mining district, Avrupa and its partner, Beak Associates, are currently conducting follow up geochemical sampling work at several tin and gold anomalies around the license, with results expected to determine the parties' next course of action on the property.

The junior explorer is also continuing to assess acquisition prospects for new properties in other areas of Europe, it said.

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Thu, 19 Jun 2014 14:15:00 -0400 https://ca.proactiveinvestors.com/companies/news/101908/avrupa-rises-as-jv-plans-progress-for-portugal-properties-54882.html
<![CDATA[News - Avrupa continues Portugal drilling, JV discussions ]]> https://ca.proactiveinvestors.com/companies/news/101735/avrupa-continues-portugal-drilling-jv-discussions-54652.html Avrupa Minerals. (CVE:AVU) is planning to drill at both its Alvalade and Covas joint ventures in Portugal this summer, while also continuing joint venture discussions for its other properties in the region and beginning exploration at its license in Germany.

The news came as part of an update on the company's portfolio of projects, which span Portugal, Kosovo and Germany. The explorer is looking to joint venture these properties, holding a total of 15 exploration licenses in these European countries, including nine in Portugal. It already operates three joint ventures in Portugal, and recently signed an option deal for its Kosovo project.

At its Alvalade joint venture in Portugal with Antofagasta Minerals, Avrupa said it will initiate a further round of exploration drilling, which will target potential extensions of the Sesmarias mineralization. The partners are budgeting for 2,700 to 3,000 metres of core drilling, slated to begin in the second week of June.

Meanwhile, at its Covas joint venture with Blackheath Resources, the partners are currently undertaking a geophysical program to help identify high grade tungsten targets, with work anticipated to be finished by the end of June. The companies expect to begin a core drilling campaign at Covas later this month as well, with the aim of extending known high grade tungsten mineralization to help in outlining a maiden resource estimate.

Avrupa said it has also completed another stage of work at its Alvito license in Portugal, bringing the property up to joint venture-ready status, with the company "actively engaging a potential partner" for the project, according to its statement released late Monday. Work over the past year at the asset has found eight separate copper and copper-gold targets and another 14 polymetallic targets around the license, the company said.

Also in Portugal, Avrupa is hoping to complete the acquisition of a new license before the end of the year, while two other license applications are to be signed in the coming weeks. It has also applied to the Portuguese Mining Bureau to drop three licenses in northern Portugal due to a lack of results, Avrupa said.

In Germany, at the company's Oelsnitz project in Erzgebirge mining district, Avrupa and its partner, Beak Associates, are currently conducting follow up geochemical sampling work at several tin and gold anomalies around the license, with results expected to determine the parties' next course of action on the property.

Avrupa is also continuing to assess acquisition prospects for new properties in other areas of Europe, it said.

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Tue, 10 Jun 2014 11:13:00 -0400 https://ca.proactiveinvestors.com/companies/news/101735/avrupa-continues-portugal-drilling-jv-discussions-54652.html
<![CDATA[News - Avrupa encouraged by first results from Alvalade drilling at Sesmarias ]]> https://ca.proactiveinvestors.com/companies/news/101299/avrupa-encouraged-by-first-results-from-alvalade-drilling-at-sesmarias-54072.html Avrupa Minerals (CVE:AVU) has unveiled results from recent drilling at the Sesmarias target on its Alvalade joint venture project in Portugal, which is operated by the company and funded by Antofagasta plc. 

Eight holes were drilled in the area, including seven in the immediate vicinity of the initial Sesmarias massive sulfide intersection, for a total of 1,961 metres. 

The junior company said the results of the drilling "clearly indicate the potential for a large-scale mineralized system", and that an ongoing review of historic drilling also supports this idea.

Of the highlights from the current program, Avrupa said it drilled 5.5 metres of massive sulfides, with results suggesting an immediate target area of over 2,500 metres in strike length for the next phase of drilling.

The company believes the size of the potential Sesmarias system is comparable to the size of the giant Neves-Corvo system, located just 50 km southeast of Sesmarias and currently mined by Lundin Mining.

Avrupa intends to drill between 2,700 and 3,000 metres in the next phase of exploration, with the first part of the program planned for the potential extension of Sesmarias both northwest and southeast. The campaign is slated to begin in early June, and should be completed by August.

"We are extremely excited about the Sesmarias potential. It appears possible that the Sesmarias area can host a large mineralization system, containing valuable concentrations of copper, zinc, lead, and silver, and potentially local concentrations of gold, tin, and cobalt," said president and CEO Paul W. Kuhn.

"Further work is clearly justified, and Antofagasta has stepped up to fund further progress for the exploration program at Sesmarias, and on the Alvalade Project in general. We are looking forward to the startup of the next phase of drilling, scheduled for mid-June."

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources and the Alvalade joint venture with Antofagasta Minerals. 

On Monday, Avrupa signed an amended joint venture agreement on its Covas project with partner and tungsten explorer Blackheath Resources (CVE:BHR), allowing for more interim funding from Blackheath and an expanded time frame.                 

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Tue, 13 May 2014 13:13:00 -0400 https://ca.proactiveinvestors.com/companies/news/101299/avrupa-encouraged-by-first-results-from-alvalade-drilling-at-sesmarias-54072.html
<![CDATA[News - Avrupa amends Covas joint venture to allow for more interim funding ]]> https://ca.proactiveinvestors.com/companies/news/101267/avrupa-amends-covas-joint-venture-to-allow-for-more-interim-funding-54037.html Avrupa Minerals (CVE:AVU) has signed an amended joint venture agreement on its Covas project in Portugal with partner and tungsten explorer Blackheath Resources (CVE:BHR), allowing for more interim funding from Blackheath and an expanded time frame. 

"Amending the JV agreement with Blackheath allows the JV to systematically drill test the project within a more reasonable time frame before completing the more advanced, trial exploitation stage that is required in Portuguese mining laws," said CEO of Avrupa, Paul W. Kuhn. 

"We are currently underway with planning and preparing for the Phase 3 drilling program, which will bring the JV closer to the goal of completing a NI 43-101 resource estimate for the project in 2014."

Blackheath, which already owns a 70% stake in the project after completing two stages of exploration expenditures, now has to spend EUR320,000 on exploration by March 20, 2015 for another 5% interest, for a total of 75%. 

For an 80% stake, Blackheath is required to spend an additional EUR498,000 by March 20, 2016, and for a total of 85%, another EUR833,000 by March 20, 2017.

Covas is a past-producing tungsten mine, with remaining historic resources on the property estimated at 922,900 metric tonnes of 0.78% WO3 by Union Carbide in 1980, based on work including 327 prior drill holes. Mineralization is open to expansion, Avrupa said.

Market dynamics are positive for the project, according to Avrupa, with the price of tungsten having increased significantly in recent years, currently approximately $36 per kilogram of contained tungsten trioxide. 

Separately, Avrupa said that it has decided with Blackheath to terminate their joint venture arrangement on the Arga property as a result of "less than desired drill results". Avrupa has therefore dropped the property, as required by Portuguese mining law. 

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources and the Alvalade joint venture with Antofagasta Minerals. 

The company las month signed a definitive agreement to option out its Slivovo gold project in Kosovo to Australian mining services provider Byrnecut International, marking its first joint venture deal out of Portugal. 

Avrupa's business model entails seeking attractive properties to acquire, conducting early exploration and then vending the properties out for joint venture to bigger entities for more in-depth work.            

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Mon, 12 May 2014 09:15:00 -0400 https://ca.proactiveinvestors.com/companies/news/101267/avrupa-amends-covas-joint-venture-to-allow-for-more-interim-funding-54037.html
<![CDATA[News - Avrupa completes phase 4 drilling at Alvalade, results to arrive in next few weeks ]]> https://ca.proactiveinvestors.com/companies/news/100879/avrupa-completes-phase-4-drilling-at-alvalade-results-to-arrive-in-next-few-weeks-53507.html Avrupa Minerals (CVE:AVU) said Thursday it has completed phase 4 drilling on its Alvaladae joint venture in Portugal, which is 51% owned by London-listed Antofagasta plc. 

The final six holes of the program consisted of more than 1,500 metres of drilling, to depths between 160 and 334 metres. The holes were located in the general area of the recently announced Sesmarias massive sulfide drill intersection, Avrupa said. 

Avrupa is the operator of the joint venture, which is funded by Antofagasta. To earn a 51% stake in the property, Antofagasta spent a total  of $4.3 million on the project. 

"With our upgraded and developing geological model of the Pyrite Belt, and with the advantage that we have intersected massive mineralization at Sesmarias, we designed the follow-up drilling program to test the immediate area of the discovery, as well as to initiate testing the idea that Sesmarias is a large-scale system, covering a much wider area," Avrupa said in the release. 

The company also said it is currently conducting geophysical surveys, while geologists log and sample the new drill core. Results will be announced in the next few weeks, Avrupa added. 

The two partners plan to hold meetings over the next little while to compile and assess all results, as well as to plan for the next phase of the project. Avrupa said it is hoping to announce plans for summer exploration at the same time as announcing the drill results. 

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources and the Alvalade joint venture with Antofagasta Minerals. 

The company yesterday signed a definitive agreement to option out its Slivovo gold project in Kosovo to Australian mining services provider Byrnecut International, marking its first joint venture deal out of Portugal. 

Avrupa's business model entails seeking attractive properties to acquire, conducting early exploration and then vending the properties out for joint venture to bigger entities for more in-depth work.            

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Thu, 17 Apr 2014 09:59:00 -0400 https://ca.proactiveinvestors.com/companies/news/100879/avrupa-completes-phase-4-drilling-at-alvalade-results-to-arrive-in-next-few-weeks-53507.html
<![CDATA[News - Avrupa Minerals finalizes option deal for Slivovo Kosovo project ]]> https://ca.proactiveinvestors.com/companies/news/100862/avrupa-minerals-finalizes-option-deal-for-slivovo-kosovo-project-53483.html Avrupa Minerals (CVE:AVU) has signed a definitive agreement to option out its Slivovo gold project in Kosovo to Australian mining services provider Byrnecut International, the company said Wednesday, marking its first joint venture deal out of Portugal. 

Under the terms of the deal, Byrnecut must spend 1.0 million euros for exploration by April 10, 2015 to earn a 51% stake in the property. Of the 1.0 million euros, 360,000 euros must be spent by October 10 of this year. 

To earn a further 24%, an additional 1.0 million euros on exploration must be spent by April 10, 2016, Avrupa said. 

Byrnecut can then earn another 10%, for a total 85% interest, by completing a preliminary feasibility study on the project by April 10, 2017. 

"The signing of the Slivovo JV Agreement is an important milestone for Avrupa," said CEO Paul W. Kuhn in a release announcing the deifnitive deal this morning, following on from news of the preliminary term sheet in December.

"This is the company's first JV outside of Portugal and will solidify potential interest in Kosovo, where we hold several other prospective licenses. 

"The Slivovo project covers at least two exciting, outcropping gold and base metal targets. We anticipate an immediate start-up of field work to rapidly move the program forward over the summer."       

The Slivovo license, located approximately 15 km southeast of Prishtine, the capital city of Kosovo, was issued to Avrupa in June 2012. The company has completed some early rock chip sampling work, which returned strongly anomalous lead, zinc, silver and gold. In addition, wide-scale geological mapping suggested the potential for gold-bearing, massive sulfide mineralization. 

Work in the first six months of the program at Slivovo will be designed towards drill targeting, with an anticipated 2000-metre drill program slated to start early in the fourth quarter of this year. 

Avrupa said it will also continue geological mapping, sampling, trenching, and possibly follow-up ground geophysics to help in defining drill targets.            

The junior company, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources and the Alvalade joint venture with Antofagasta Minerals. 

Avrupa's business model entails seeking attractive properties to acquire, conducting early exploration and then vending the properties out for joint venture to bigger entities for more in-depth work.            

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Wed, 16 Apr 2014 13:14:00 -0400 https://ca.proactiveinvestors.com/companies/news/100862/avrupa-minerals-finalizes-option-deal-for-slivovo-kosovo-project-53483.html
<![CDATA[Media files - Avrupa hits a 'major discovery' in Portugal and is now awaiting more drill results ]]> https://ca.proactiveinvestors.com/companies/stocktube/3701/avrupa-hits-a-major-discovery-in-portugal-and-is-now-awaiting-more-drill-results--.html Mon, 03 Mar 2014 07:01:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/3701/avrupa-hits-a-major-discovery-in-portugal-and-is-now-awaiting-more-drill-results--.html <![CDATA[News - Avrupa continues rally on greenfields discovery, up another 11% ]]> https://ca.proactiveinvestors.com/companies/news/100116/avrupa-continues-rally-on-greenfields-discovery-up-another-11-52418.html Avrupa Minerals (CVE:AVU) shares extended their gains on Friday, nearly doubling in price since announcing that it made the first greenfields discovery of massive sulfide mineralization in 20 years in the Iberian Pyrite Belt. 

The discovery, announced early Thursday, was made through recent drilling at Sesmarias South on its Alvalade joint venture project in southern Portugal. Antofagasta plc (LON:ANTO) holds a 51% stake in the project, with the discovery of copper-bearing massive and semi-massive sulfide mineralization prompting the release of more funding from the London, UK-based mining giant.

Avrupa's stock was up another 11% on Friday, at 20 cents, up from its close of 18 cents on Thursday and nearly double Wednesday's closing price of 11.5 cents, before the news was released. 

Since the beginning of the project, the partners have drilled 28 holes and nearly 12,250 metres in all phases of drilling around the project area. Avrupa is the operator of the joint venture, with Antofagsta paying a total of US$4.3 million for its 51% interest. 

The latest drilling results included 10.85 metres of massive and semi-massive stockwork  sulfide mineralization grading 1.81% copper, 2.57% lead, 4.38% zinc, 0.13% tin and 72.27 parts per million (ppm) of silver. 

"This is the first greenfields VMS intersect the Pyrite Belt in 20 years," said president and CEO of Avrupa, Paul W. Kuhn, in the release Thursday.

"This discovery of massive sulfide mineralization is the result of three years of study, drilling, re-study, more drilling, reliance on the still-evolving structural and geological model for mineralization in the Pyrite Belt, full dedication from both the Avrupa and Antofagasta teams, and a willingness by Antofagasta to continue the necessary funding for the program."

The Sesmarias South target is located about 7km south of the past-producing Lousal mine, and 50 km northwest of Lundin Mining's Neves Corvo mine, along the Neves Corvo trend of the Iberian Pyrite Belt in Portugal. 

In light of the landmark find, the partners have agreed to amend the joint venture agreement to allow for more interim funding by Antofagasta, as well as an expanded time frame in which to reach a feasibility study decision and a means for Avrupa to be carried to production if there is a production decision to be made for the project. 

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Fri, 28 Feb 2014 12:43:00 -0500 https://ca.proactiveinvestors.com/companies/news/100116/avrupa-continues-rally-on-greenfields-discovery-up-another-11-52418.html
<![CDATA[News - Avrupa Minerals makes landmark discovery in Portugal, elicits more funds from partner Antofagasta ]]> https://ca.proactiveinvestors.com/companies/news/100087/avrupa-minerals-makes-landmark-discovery-in-portugal-elicits-more-funds-from-partner-antofagasta-52384.html Avrupa Minerals (CVE:AVU) has made the first greenfields discovery of massive sulfide mineralization in 20 years in the Iberian Pyrite Belt, the junior explorer said Thursday, through recent drilling at Sesmarias South on its Alvalade joint venture project in southern Portugal. 

The Canadian junior company told investors in a release this morning that it intersected copper-bearing massive and semi-massive sulfide mineralization at the property, in which Antofagasta plc (LON:ANTO) holds a 51% stake, prompting the release of more funding from the London, UK-based mining giant.

Since the beginning of the project, the partners have drilled 28 holes and nearly 12,250 metres in all phases of drilling around the project area. Avrupa is the operator of the joint venture, with Antofagsta paying a total of US$4.3 million for its 51% interest. 

The latest drilling results include 10.85 metres of massive and semi-massive stockwork  sulfide mineralization grading 1.81% copper, 2.57% lead, 4.38% zinc, 0.13% tin and 72.27 parts per million (ppm) of silver. This includes 7.95 metres of 2.21% copper, 3.05% lead and 4.82% zinc, as well as 2.9 metres of 0.71% copper, 1.27% lead and 3.17% zinc. 

"The discovery of the Sesmarias South mineralization is really and truly an exciting event," said president and CEO of Avrupa, Paul W. Kuhn, in the release. 

"This is the first greenfields VMS intersect the Pyrite Belt in 20 years. This discovery of massive sulfide mineralization is the result of three years of study, drilling, re-study, more drilling, reliance on the still-evolving structural and geological model for mineralization in the Pyrite Belt, full dedication from both the Avrupa and Antofagasta teams, and a willingness by Antofagasta to continue the necessary funding for the program."

The chief executive said his team is looking forward to the start of follow-up drilling at Sesmarias, as well as continued first-pass exploration in other target areas at the site.

The massive sulfide discovery was made in the second drill hole at the Sesmarias South target area, which is covered by 100 metres of young cover sediments that obscure visual sighting of the target rocks, Avrupa said. 

The target is located about 7km south of the past-producing Lousal mine, and 50 km northwest of Lundin Mining's Neves Corvo mine, along the Neves Corvo trend of the Iberian Pyrite Belt in Portugal. The company noted that the discovery is the first greenfields success in this belt of both Portugal and Spain since 1994.

The prized mineralized intercept reported Thursday stretches for 16.85 metres, Avrupa said, and includes a zone of massive sulfide mineralization, underlain by a zone of semi-massive sulfides and strong stockwork sulfide veining. Follow-up drilling is due to start at the beginning of March, with up to three holes initially planned to determine the orientation of the proposed mineralized body, which the company says is totally blind from the surface. 

In light of such a discovery, the partners have agreed to amend the joint venture agreement to allow for more interim funding by Antofagasta, as well as an expanded time frame in which to reach a feasibility study decision and a means for Avrupa to be carried to production if there is a production decision to be made for the project. 

Under the new terms, Antofagasta must pay an additional US$2 million on exploration by December 31, 2015 for another 9% stake in the project, and can earn a total 80% interest in Alvalade if it funds a preliminary economic assessment, feasibility study and all following work programs until a targeted date for a development decision. 

Avrupa said it will be carried to production and will repay Antofagasta from proceeds, dividends, and sales generated from project output.

The junior company, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources and the Alvalade joint venture with Antofagasta Minerals. It also recently signed a term sheet to option out its Slivovo project in Kosovo, in a deal with Australia's Byrnecut International. 

Avrupa's business model entails seeking attractive properties to acquire, conducting early exploration and then vending the properties out for joint venture to bigger entities for more in-depth work.

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Thu, 27 Feb 2014 09:45:00 -0500 https://ca.proactiveinvestors.com/companies/news/100087/avrupa-minerals-makes-landmark-discovery-in-portugal-elicits-more-funds-from-partner-antofagasta-52384.html
<![CDATA[News - Avrupa to be featured on CEO Clips ]]> https://ca.proactiveinvestors.com/companies/news/99949/avrupa-to-be-featured-on-ceo-clips-52163.html Avrupa Minerals (CVE:AVU) says it will be featured on CEO Clips on The Documentary Channel, with CEO Paul Kuhn discussing the company's near-term future and its prospect generator business model. 

This model entails the company seeking attractive properties to acquire, conducting early exploration and then vending the properties out for joint venture to bigger entities for more in-depth work.

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. It also recently signed a term sheet to option out its Slivovo project in Kosovo, in a deal with Australia's Byrnecut International. 

Aside from preparing its properties for potential joint ventures this year, Avrupa is also looking to add projects in new areas to its exploration pipeline, and drop assets that do not meet joint venture criteria. 

The CEO Clips short interview with Avrupa will begin airing today, and run on weekdays between 6am - 12am through March 2nd. It can also be viewed online directly from the Avrupa website. CEO Clips is a series that profiles innovative publicly traded companies in North America.                

The clip will also be posted on BNN.ca Finance, Canadian Business Journal, German Financial Portal, Thomson Reuters Insider Network, MSN Money, Stockhouse, YouTube, Blinkx, on the AVU stock symbol page, as well as on CEO Clips.

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Wed, 19 Feb 2014 11:19:00 -0500 https://ca.proactiveinvestors.com/companies/news/99949/avrupa-to-be-featured-on-ceo-clips-52163.html
<![CDATA[News - Avrupa Minerals unveils upbeat phase 2 drilling results from Covas ]]> https://ca.proactiveinvestors.com/companies/news/99922/avrupa-minerals-unveils-upbeat-phase-2-drilling-results-from-covas-52113.html Avrupa Minerals (CVE:AVU) reported Tuesday phase 2 drilling results from its Covas tungsten joint venture project in northern Portugal, saying the campaign expanded zones of tungsten mineralization in each of the four areas tested while also discovering a new zone. 

The project is operated by Avrupa and fully funded by Blackheath Resources (CVE:BHR) under a joint venture agreement signed back in 2011. Blackheath has already earned a 51% stake in the property, and is now close to securing 70%, which requires an additional expense of 700,000 euros by March 20. 

Blackheath can also earn a further 15% stake, for a total 85% interest, by funding an NI 43-101 compliant pre-feasibility study by March 20, 2016.

Of the highlights from the phase 2 program, the company returned 3.05 metres of 1.26% tungsten, including 1.05 metres of 2.07%, starting at a depth of 12.75 metres. 

Avrupa said that drilling at Castelo extended tungsten mineralization in both the southwest and southeast directions, in previously unexplored areas. 

The phase 2 program was comprised of 14 diamond drill holes, drilled in four different target zones -- Muito Seco, Lapa Grande, Telheira, Castelo -- and a new zone lying between the historic Cerdeirinha Pit area and the Muito Seco zone. 

The company said that results from both the first and second phase of drilling "clearly indicate" that there is further potential for expansion at all five target areas, as well as for discovery of new mineralization near and around the known mineralized zones.

It added that there are still a number of outstanding, under-explored target areas around the Skarn Ring, as well as in the Covas Dome, itself.

"We are pleased and encouraged with the overall results from the Phase 2 drilling at Covas. We were able to expand and upgrade a number of important target areas," said president and CEO Paul W. Kuhn.

"Our follow-up geological and structural analyses of the new work, combined with all of the historic data, allows us to better target potential high grade tungsten zones, as well as target further expansions of known mineralization. 

"We look forward to using this information to plan for Phase 3 drilling, which will bring the JV closer to the goal of completing a NI 43-101 resource estimate for the project."

Covas is a past-producing tungsten mine, and remaining historic resources on the property have been estimated at 922,900 metric tonnes of 0.78% tungsten by Union Carbide in 1980, based on work including 327 drill holes on the property. Mineralization is open to expansion. 

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. It also recently signed a term sheet to option out its Slivovo project in Kosovo, in a deal with Australia's Byrnecut International. 

Aside from preparing its properties for potential joint ventures this year, Avrupa is also looking to add projects in new areas to its exploration pipeline, and drop assets that do not meet joint venture criteria, it said. 

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Tue, 18 Feb 2014 11:36:00 -0500 https://ca.proactiveinvestors.com/companies/news/99922/avrupa-minerals-unveils-upbeat-phase-2-drilling-results-from-covas-52113.html
<![CDATA[Media files - Avrupa Minerals is moving ahead in 2014 ]]> https://ca.proactiveinvestors.com/companies/stocktube/3695/avrupa-minerals-is-moving-ahead-in-2014--544.html Thu, 13 Feb 2014 14:17:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/3695/avrupa-minerals-is-moving-ahead-in-2014--544.html <![CDATA[News - Avrupa Minerals outlines plans for 2014 ]]> https://ca.proactiveinvestors.com/companies/news/99737/avrupa-minerals-outlines-plans-for-2014-51833.html Avrupa Minerals (CVE:AVU)(FRANKFURT:8AM) provided shareholders with an update Wednesday on its plans for this year, saying it is already moving ahead with its first drill program of 2014, which began in January on its Alvalade joint venture in Portugal.

The company is also planning to analyze projects in Germany for gold and tin, and prepare them for potential joint venture, as well as begin an active exploration program in Kosovo on the Slivovo property and continue to expand the tungsten resource at Covas in north Portugal.

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. It also recently signed a term sheet to option out its Slivovo project in Kosovo, in a deal with Australia's Byrnecut International. 

Aside from preparing its properties for potential joint ventures, Avrupa is also looking to add projects in new areas to its exploration pipeline, and drop assets that do not meet joint venture criteria, it said. The company is eagerly looking for a partner for its southern Portugal projects, particularly the Marateca copper-zinc project, and the Alvito iron oxide-copper-gold property.

While doing all this, Avrupa said it would work to maintain low overhead costs and minimize dilution for shareholders. 

The 2014 plans follow a busy 2013, which included two successful drill programs at Alvalade, one drilling campaign at the Covas venture, a new partnership at Slivovo, and partnering with a royalty company to help advance several projects in Portugal. The company also completed a $600,000 financing last year, and acquired one new project in the Iberian Pyrite Belt in Portugal.

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Wed, 05 Feb 2014 10:46:00 -0500 https://ca.proactiveinvestors.com/companies/news/99737/avrupa-minerals-outlines-plans-for-2014-51833.html
<![CDATA[News - Avrupa starts new phase of drilling at Alvalade joint venture, moves toward targeting massive sulfides ]]> https://ca.proactiveinvestors.com/companies/news/99486/avrupa-starts-new-phase-of-drilling-at-alvalade-joint-venture-moves-toward-targeting-massive-sulfides-51400.html Avrupa Minerals  (CVE:AVU) says it has started phase four drilling at its Alvalade joint venture project in Portugal, which it owns with Antofagasta plc. 

The partners have already drilled 24 holes, or nearly 11,000 metres, in three previous phases of drilling, with Antofagasta holding a 51% stake in the project after funding US$4.3 million. 

The newest phase of drilling, which will take up 10 holes or 3,500 metres, will be split up in two segments. In the first, phase 4a, one hole will be drilled at the Monte da Bela Vista West target about 400 metres west of mineralization drilled in 2012-2013, followed by a further six holes in two new target areas. 

Avrupa said that phase 4b will include three follow up "deep-tests" from locations indicated by the blind vectoring drilling.

"We are quite pleased to start this new phase of drilling. It has taken us much of the past two years to get to this point where our understanding of the presumed subsurface geology actually allows us to drill through the thick cover and anticipate intercepting rocks that may be altered and even mineralized," said president and CEO of Avrupa, Paul Kuhn. 

"The information we get from the basement rocks at the bottom of each of these six holes will lead us further into the right direction for targeting massive sulfide mineralization. This is an exciting, yet risky, step forward in the evolution of the project. 

"Meanwhile, the other half of the story is that the MBVW hole is the continuation of our work at Monte da Bela Vista where we discovered stockwork copper mineralization in 2012-2013. All previous work at Monte da Bela Vista was located in the eastern limb of a large fold feature, and the new hole will begin a test of the western limb of the structure."

All of the drill targets are located on the Neves Corvo trend of target rocks in the Pyrite Belt, where there are currently four active mines. The largest of all the Pyrite Belt deposits, Rio Tinto in Spain, is currently in the permitting process for re-opening. 

The Neves Corvo copper-zinc complex is located only 60 to 70 km southeast of the current drilling program, Avrupa said. 

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country.

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Mon, 20 Jan 2014 14:40:00 -0500 https://ca.proactiveinvestors.com/companies/news/99486/avrupa-starts-new-phase-of-drilling-at-alvalade-joint-venture-moves-toward-targeting-massive-sulfides-51400.html
<![CDATA[News - Avrupa Minerals signs preliminary term sheet to option first Kosovo project ]]> https://ca.proactiveinvestors.com/companies/news/99197/avrupa-minerals-signs-preliminary-term-sheet-to-option-first-kosovo-project-50967.html Avrupa Minerals (CVE:AVU) has signed a term sheet to option out its Slivovo project in Kosovo, it told investors late Monday, in a deal with Australia's Byrnecut International. 

Under the terms, Byrnecut has the option to earn a 51% stake in the project by spending 1.0 million euros in exploration on the asset by March 1, 2015, or 12 months after the exact closing date. 

Of the 1.0 million euros, it must spend a firm 360,000 euros by September 1, 2014, or six months after the closing date. Byrnecut can then acquire a further 24% by spending an additional 1.0 million euros within two years from closing, for a total 75% interest. 

An additional 10% can also be acquired by the company, for a total of 85%, if Byrnecut completes a preliminary feasibility study by March 1, 2017. 

The parties must sign a binding agreement early next year. 

The Slivovo license, located about 15 km southeast of Prishtine, was issued to Avrupa in June of last year, with early rock chip sampling returning anomalous lead, zinc, silver and gold results. Avrupa also said that geological mapping of the Pester gossan area suggested the potentialk for gold-bearing, massive sulfide mineralization of the style common in the Vardar zone, which extends throughout east-central Europe. 

In addition, the company discovered several gold-bearing rock units in the Pester area, with first pass soil and rock chip sampling outlining two separate regions with anomalous gold results, Avrupa said. One area surrounds the gossan zone, and measures about 500 by 150 metres in size, potentially open along strike, according to the company's statement. 

"The signing of this Terms Sheet with Byrnecut is the first option agreement for the company in Kosovo and solidifies the potential interest in this area," said Avrupa CEO, Paul W. Kuhn, in the release. 

"We are excited to be working with Byrnecut in advancing Slivovo to the next stage, and we look forward to working with the Byrnecut team. 

"The Slivovo Project covers at least two exciting, surface-mineralized targets, and we look forward to the spring break-up to start work and rapidly move the program forward."           

Australia-based Byrnecut is engaged in mechanised underground mine feasibility, mine development and mine production, including shaft sinking, raise-drilling, maintenance engineering, rebuilds, labor hire and mining indusry training. 

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country.

Last week, it said it has received positive geochemical results from rock sampling at three different projects in southern Portugal, supporting the potential for copper-zinc-bearing systems in a number of target areas on the Pyrite Belt properties and expanded targets at its Alvito license. 

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Tue, 24 Dec 2013 09:14:00 -0500 https://ca.proactiveinvestors.com/companies/news/99197/avrupa-minerals-signs-preliminary-term-sheet-to-option-first-kosovo-project-50967.html
<![CDATA[News - Avrupa appoints accountant with exploration industry experience to board ]]> https://ca.proactiveinvestors.com/companies/news/99158/avrupa-appoints-accountant-with-exploration-industry-experience-to-board-50893.html Avrupa Minerals (CVE:AVU) has appointed to its board of directors Ross Stringer, who will also serve on the company's audit committee. 

Stringer, a chartered accountant with experience in the financial services industry as well as in the mineral exploration business, has a background in advisory and risk-based assurance services at the operational and governance levels, Avrupa said. 

He has previously served on the board of both private businesses in the services industry as well as "many public service organizations". 

"We are very pleased to have an experienced member of the financial industry join our Board and the audit committee. Mr. Stringer's experience in the exploration industry will be an asset," said Avrupa director Mark T. Brown. 

Separately, the company also said that Don Ranta has resigned from the board of directors, stating no further detail on the reason for the departure.

Earlier this week, Avrupa Minerals said it has received positive geochemical results from rock sampling at three different projects in southern Portugal, supporting the potential for copper-zinc-bearing systems in a number of target areas on the Pyrite Belt properties and expanded targets at its Alvito license. 

The three projects include the Marateca and Sines licenses in the Iberian Pyrite Belt, and the Alvito property in the Ossa Morena tectonic zone, where good results in "several locations" suggest the enlargement of previous iron oxide-copper-gold and silver-bearing vein targets, the company said.

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. 

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Fri, 20 Dec 2013 10:49:00 -0500 https://ca.proactiveinvestors.com/companies/news/99158/avrupa-appoints-accountant-with-exploration-industry-experience-to-board-50893.html
<![CDATA[News - Avrupa provides exploration update on Portugal properties ]]> https://ca.proactiveinvestors.com/companies/news/99104/avrupa-provides-exploration-update-on-portugal-properties-50793.html Avrupa Minerals (CVE:AVU) said Wednesday it has received positive geochemical results from rock sampling at three different projects in southern Portugal, supporting the potential for copper-zinc-bearing systems in a number of target areas on the Pyrite Belt properties and expanded targets at its Alvito license. 

The three projects include the Marateca and Sines licenses in the Iberian Pyrite Belt, and the Alvito property in the Ossa Morena tectonic zone, where good results in "several locations" suggest the enlargement of previous iron oxide-copper-gold and silver-bearing vein targets, the company said. 

Strong silver-lead-zinc results at Alvito also point to the possibility of drilling targets in a new area of massive sulfide replacement mineralization, according to Avrupa's statement. 

Of the highlights from the exploration at the three projects, the Pego do Altar gossan zone at Marateca has extended to nearly 1,000 metres, while also uncovering a second copper-bearing gossan zone. Limited rock chip sampling along strike at Marateca returned copper values up to 0.12% and lead values to 0.08%, Avrupa said. Anomalous bismuth, molybdenum, and gold values were also found.

Sampling at Sines returned similar results, said the explorer, with anomalous copper results to 0.12%, as well as lead to nearly 500 ppm, and zinc to 350 ppm. Several samples contained over 10% manganese. "Taken together, as at Pego do Altar on the Marateca property, the results support the presence of hydrothermal systems that could have produced massive sulfide mineralization," the company said in its statement. 

Both projects will see follow up mapping and sampling as Avrupa prepares the assets for prospective joint venture partners. Avrupa operates by completing early-stage work on its newly acquired assets until it finds a bigger company to partner up with that will further develop the property and take on the heavy lifting.

Meanwhile, at Alvito, 27 of 68 samples returned greater than 0.5% copper, while high grade silver-lead-zinc was found at the Agua de Peixe epithermal system. 

The company, which recently signed an exploration alliance with Callinan Royalties Corp, will continue to upgrade the Alvito project over the next several months with the funds from Callinan. It is planning further sampling, prospecting, geological mapping, ground geophysical work, and drill targeting as it seeks a suitable partner.

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. 

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Wed, 18 Dec 2013 11:08:00 -0500 https://ca.proactiveinvestors.com/companies/news/99104/avrupa-provides-exploration-update-on-portugal-properties-50793.html
<![CDATA[News - Avrupa Minerals says partner Antofagasta earns 51% stake in Alvalade property ]]> https://ca.proactiveinvestors.com/companies/news/98982/avrupa-minerals-says-partner-antofagasta-earns-51-stake-in-alvalade-property-50629.html Avrupa Minerals (CVE:AVU) says that its joint venture partner, Antofagasta plc, has earned a 51% stake of its Alvalade copper project in southern Portugal as per an agreement signed more than two years ago, by spending US$4.3 million at the property. 

Antofagasta can buy another 24% in the project by preparing, funding and completing a feasibility study at Alvalade before December 1, 2018. 

"The vote of confidence by Antofagasta on the Alvalade project is welcomed," said Avrupa president and CEO, Paul W. Kuhn, in a statement late Tuesday.

"Antofagasta has already forwarded funding for the next stage of drilling along the Neves Corvo trend, one of four potential mineral belts that make up the Iberian Pyrite Belt in Portugal. 

"Continued improvement of our understanding of the geological and structural aspects of our target areas is leading to new possibilities along all four mineral belts."           

Avrupa operates by completing early-stage work on its newly acquired assets until it finds a bigger company to partner up with that will further develop the property and take on the heavy lifting.

The company, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. 

Last month, the government of Portugal approved the combination of the three exploration licenses within the Alvalade joint venture into a single 902 sq km license, granted until December 31, 2016. This paved the way for Antofagasta to approve funding for a new drilling program, which is set to begin in mid-January.

The new license covers four prospective mineral trends including the Neves Corvo belt, the Aljustrel belt, the Sao Domingoes belt and the newly emerging Santa Margarida de Serra belt. The license also lies in close proximity to two large copper-zinc mines -- Neves Corvo and Aljustrel. 

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Wed, 11 Dec 2013 09:38:00 -0500 https://ca.proactiveinvestors.com/companies/news/98982/avrupa-minerals-says-partner-antofagasta-earns-51-stake-in-alvalade-property-50629.html
<![CDATA[Media files - Avrupa Minerals looking for more j/v partners for its exploration programme ]]> https://ca.proactiveinvestors.com/companies/stocktube/3680/avrupa-minerals-looking-for-more-jv-partners-for-its-exploration-programme--.html Thu, 05 Dec 2013 04:29:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/3680/avrupa-minerals-looking-for-more-jv-partners-for-its-exploration-programme--.html <![CDATA[News - Avrupa Minerals gets funds to dress up Alvito license from Callinan alliance ]]> https://ca.proactiveinvestors.com/companies/news/98615/avrupa-minerals-gets-funds-to-dress-up-alvito-license-from-callinan-alliance--50068.html Avrupa Minerals (CVE:AVU) has received $150,000 in funding from Callinan Royalties to finance exploration at the Alvito license in Portugal, as part of the junior explorer's efforts to build up the property so as to better attract potential joint venture partners.

The company, in a statement late Wednesday, said that in exchange for the funds, it has promised Callinan a 1.5% net smelter returns royalty. 

Going forward, the project will be designated as an "alliance property" under the terms of the exploration alliance agreement between Avrupa and Callinan inked last month. The aim of the partnership was to advance new ideas in Portugal and help dress up some of Avrupa's existing properties in the region for potential tie-ups.                

The Alvito license, which covers approximately 1,035 square kilometres of prospective ground, straddles both the Iberian Pyrite Belt and in the Ossa Morena tectonic zone in south Portugal. Avrupa has collected 144 rock chip samples from the site during first-pass exploration, with 14 of these containing greater than 0.4 parts per million (ppm) of gold, and grades as high as 3.95 ppm. Of these samples, 42 also carried greater than 0.25% copper, including 26 with over 1% copper, while many samples carried anomalous silver, lead, zinc, molybdenum and iron as well. 

"We are delighted to have further Callinan backing of our target generation program in Portugal. We see this new funding as continued support for our business model," said president and CEO of Avrupa, Paul Kuhn, in the release.

Indeed, the company, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. Avrupa operates by completing early-stage work on its newly acquired assets until it finds a bigger company to partner up with that will further develop the property and take on the heavy lifting. 

"With the additional funding and support of the Callinan geological team, we will be able to advance the Alvito license to the point where we can attract a strong mining partner to bring the one or more of the prospects to a possible development situation."

The company said it has delineated 16 separate target areas on the Alvito license, which covers less than 10% of the total area. The most prospective is thought to be the Alcacovas copper belt - a 24 km long and one half-to three km wide belt of copper-gold showings. 

Avrupa is planning further work on the most attractive areas on the property, using a mix of ground geophysical and geochemical techniques, as well as geological mapping and trenching.

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Thu, 21 Nov 2013 09:25:00 -0500 https://ca.proactiveinvestors.com/companies/news/98615/avrupa-minerals-gets-funds-to-dress-up-alvito-license-from-callinan-alliance--50068.html
<![CDATA[News - Avrupa Minerals says funding approved for new drilling at Alvalade joint venture ]]> https://ca.proactiveinvestors.com/companies/news/98365/avrupa-minerals-says-funding-approved-for-new-drilling-at-alvalade-joint-venture-49696.html Avrupa Minerals (CVE:AVU) says that funding for the next phase of diamond drilling, of some 3,500 metres, at its Alvalade joint venture copper project in Portugal has been approved by its partner -- Antofagasta plc. 

The drilling is set to begin in mid-January, Avrupa said in a statement late Thursday, and will focus on finding new targets lying under consolidated rock cover, and follow up on previous work in the Monte de Bela Vista and Monte de Bela Vista West target areas. 

A 2,500-sample soil program will also be done in the target areas between Monte de Bela Vista West and the Caveria mine, the company said, with both programs to be funded entirely by Antofagasta as part of an earn-in agreement. 

Separately, the government of Portugal also approved the combination of the three exploration licenses within the Alvalade joint venture into a single 902 sq km license, granted until December 31, 2016.

Avrupa said no land reductions are required during this time frame, with the license able to be renewed for up to two one-year periods, with a 50% land reduction upon each renewal. 

"The granting of the license amalgamation and extension of the validity of the exploration rights by the Portuguese government has paved the way for Antofagasta to approve funding for a new drilling program," said president and CEO of Avrupa, Paul W. Kuhn, in the release.

"We will concentrate our next program in target areas along the Neves Corvo trend. Continued improvement of our understanding of the geological and structural aspects of our target areas is leading to new possibilities along all four mineral belts."

Indeed, the new license covers four prospective mineral trends including the Neves Corvo belt, the Aljustrel belt, the Sao Domingoes belt and the newly emerging Santa Margarida de Serra belt. 

The license also lies in close proximity to two large copper-zinc mines -- Neves Corvo and Aljustrel. 

Though a difficult time for miners and junior explorers in the industry, Avrupa is not letting up, recently signing an exploration alliance with Callinan Royalties (CVE:CAA) to advance new ideas in Portugal and to help “dress up” some of its existing properties in the region for potential joint venture partnerships, as it continues to work its prospect generator model of business. 

The company, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 17 exploration licenses in these European countries, including 11 in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. Avrupa operates by completing early-stage work on its newly acquired assets until it finds a bigger company to partner up with that will further develop the property and take on the heavy lifting. 

Avrupa also just closed a $350,000 strategic financing with Callinan, giving it even more funds to build up its portfolio of assets for future partners. 

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Fri, 08 Nov 2013 09:22:00 -0500 https://ca.proactiveinvestors.com/companies/news/98365/avrupa-minerals-says-funding-approved-for-new-drilling-at-alvalade-joint-venture-49696.html
<![CDATA[News - Avrupa Minerals gets serious in Portugal, upcoming joint ventures on the horizon ]]> https://ca.proactiveinvestors.com/companies/news/98153/avrupa-minerals-gets-serious-in-portugal-upcoming-joint-ventures-on-the-horizon-49330.html Though a difficult time for miners and junior explorers in the industry, Avrupa Minerals (CVE:AVU) is not letting up, recently signing an exploration alliance with Callinan Royalties (CVE:CAA) to advance new ideas in Portugal and to help “dress up” some of its existing properties in the region for potential joint venture partnerships, as it continues to work its prospect generator model of business. 

The company, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 17 exploration licenses in these European countries, including 11 in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. Avrupa operates by completing early-stage work on its newly acquired assets until it finds a bigger company to partner up with that will further develop the property and take on the heavy lifting. 

The company also just closed a $350,000 strategic financing with Callinan, giving it even more funds to build up its portfolio of assets for future partners. 

“We’ve raised enough money to keep ourselves moving ahead in a positive manner, allowing us to dress up our active projects so we can attract a JV partner,” president and CEO Paul Kuhn told Proactive Investors in a recent interview. “It’s taking more money and time [to find a JV partner] than it did in better economic times, as more work has to be done on our prospects before we get any positive feedback.”

This is precisely for what the company plans to use its new funds from the placement. This is in addition to the three-year exploration alliance with Callinan, under which Callinan will fund $150,000 of generative exploration in Portugal during the first year, and at its option, fund up to $100,000 in each of the two subsequent years. Avrupa will give Callinan the option to get a 0.5% net smelter returns royalty on any new projects acquired as a result of the work. 

“Callinan likes what we’re doing -- the idea of financing at a very early stage, in the world of exploration, works for them. If it works, they get a royalty for cheap, and we get money to advance our properties,” says Kuhn. 

The CEO highlights that he thinks Portugal is an excellent place to work, both for mineral potential and ease of working with the government, as well as the ability to get properties “fairly quickly”. “We hope to present a number of properties to Callinan in the future and to dress up our existing properties a little bit more so the big companies will start biting.”

“We’ve had a unanimous response so far. We have good looking material, but they want to see drill work.”

He says the company has tried to do as few financings as possible, with the non-dilutive exploration alliance an example of this effort. 

“It’s a great deal for us. We’re able to tell investors that for every dollar we raise in equity financing, we’re able to spend $1.50 already through joint venture partners and with the exploration alliance,” Kuhn remarks, adding that navigating through this environment has been sort of a “balancing act”. Though Avrupa doesn’t have to spend quite as much as bigger mining companies do, it has to keep in mind, for the sake of its business model, that these companies aren’t spending as much either. That is why the chief executive says he has both his eyes and ears “wide open”, maximizing the company’s time at investment conferences and events and keeping his mind open to a range of possibilities, which include investment, joint ventures or exploration alliances. 

For now, the exploration alliance with Callinan is focused just on Portugal, but Kuhn says there is room to expand to other parts of Europe where he has an interest. “We have some time on that, but we may expand to some nearby countries.” 

Since early May, at its existing joint venture projects in Portugal, the company has drilled close to 5,000 metres on the dime of other companies. Its premier property is the Alvalade joint venture with Antofagasta in the Iberian Pyrite belt, which holds a total of close to 2 billion tonnes of metal sulphide resources, according to historical estimates and reports. 

Of those properties not yet partnered, Avrupa is focused on the new 742 square km Marateca license, located just 40 km north of its Alvalade joint venture, where it was recently given a re-issued license for a term of five years. The Marateca license also lies next to the company's Alvito license, with Avrupa hoping to joint venture both these assets, either separately or together.  Together, they stretch almost 1,750 sq km, both with outcropping mineralization. 

The company is also drilling in northern Portugal in the tungsten-gold belt, where it has discovered “a number of sheeted gold-bearing veins”, says Kuhn, and has started a little follow-up work in eastern Germany at a gold target before the snow sets in. 

At the moment, Avrupa has $750,000 in the bank, which the chief executive believes will “keep the company going for a while”. “This is where Marateca and Alvito come in. We have to demonstrate that what we have on surface does continue sub-surface for a substantial distance,” he explains, adding that these licenses have already received interest from several industry majors, with the bottom line being that positive reconnaissance-style drill results need to be produced before a commitment is executed. 

Kuhn says that in the past, majors were the ones completing the drilling, but economic conditions these days have led to major cutbacks, even for those companies still raking in profits. “We’ve done well this summer, and we’re now preparing for the upcoming 12 months.

“We hope for one or two joint venture agreements before the 2014 field season commences.”

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Tue, 29 Oct 2013 09:11:00 -0400 https://ca.proactiveinvestors.com/companies/news/98153/avrupa-minerals-gets-serious-in-portugal-upcoming-joint-ventures-on-the-horizon-49330.html
<![CDATA[News - Avrupa closes additional $350,000 financing with Callinan ]]> https://ca.proactiveinvestors.com/companies/news/97922/avrupa-closes-additional-350000-financing-with-callinan-48971.html Avrupa Minerals (CVE:AVU) says it has closed the $350,000 private placement financing announced last week with Callinan Royalties Corp (CVE:CAA), with which it recently signed an exploration alliance agreement for properties in Portugal.   

The financings completed in the last month add up to a total of $1.1 million, including the minimum exploration alliance payment of $150,000 that Avrupa received from Callinan. 

Avrupa said the additional funding will allow the company to continue to build up its generative program in Portugal and elsewhere in Europe in order to attract new joint venture partners. Under the financing closed late Tuesday, Avrupa issued 3.5 million units at a price of 10 cents apiece. Each unit will be made up of a common share and a share purchase warrant, which is good for an additional share at a price of 15 cents for a period of three years. The company said the terms are the same as those for the $600,000 financing completed last month.

The company, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 16 exploration licenses in these European countries, including 10 in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country.  

The exploration alliance agreement with Callinan is to fund exploration for new properties in Portugal as well as to advance work on its existing projects so as to attract more potential partners. 

After the closing of the placement, Callinan will hold just over a nine per cent stake in the company on an undiluted basis. If warrants are exercised, it will then hold a 16.65 per cent interest. 

Avrupa has also given Callinan the right to maintain its stake in the company through participation in future private placements, according to the statement. 

Callinan is a Canadian company that creates and acquires mineral royalties, and uses its royalty income to provide alternative financing options to junior miners and explorers. It has about $27 million in cash, and no debt, as well as two producing royalties. 

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Wed, 16 Oct 2013 10:28:00 -0400 https://ca.proactiveinvestors.com/companies/news/97922/avrupa-closes-additional-350000-financing-with-callinan-48971.html
<![CDATA[News - Avrupa to raise another $350,000 through financing with Callinan ]]> https://ca.proactiveinvestors.com/companies/news/97862/avrupa-to-raise-another-350000-through-financing-with-callinan-48863.html Avrupa Minerals (CVE:AVU) says it will raise $350,000 through a non-brokered private placement financing with Callinan Royalties Corp (CVE:CAA), with which it last week signed an exploration alliance agreement for properties in Portugal.   

Avrupa said in a statement late Thursday that the financings completed in the last month add up to a total of $1.1 million, including the minimum exploration alliance payment of $150,000 that Avrupa received from Callinan. 

"We are pleased to have a strong financial and technical supporter in Callinan, and we will work hard to build value for their investment and our alliance agreement," said Avrupa president and CEO Paul Kuhn in the release. 

"The additional funding will allow us to continue to build up our premier generative program in Portugal and elsewhere in Europe in order to attract new joint venture partnerships."

The company, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 16 exploration licenses in these European countries, including 10 in Portugal. It operates three joint ventures in Portugal, including the Covas partnership with Blackheath Resources (CVE:BHR), and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country.  

The exploration alliance agreement with Callinan is to fund exploration for new properties in Portugal as well as to advance work on its existing projects so as to attract more potential partners. 

The latest financing will consist of 3.5 million units at a price of 10 cents apiece. Each unit will be made up of a common share and a share purchase warrant, which is good for an additional share at a price of 15 cents for a period of three years. The company said the terms are the same as those for the $600,000 financing completed last month.

After the closing of the placement, Callinan will hold just over a nine per cent stake in the company, with other major shareholders including management with a 17 per cent interest, and varios strategic investors that hold roughly 14 per cent. 

Avrupa has also given Callinan the right to maintain its stake in the company through participation in future private placements, according to the statement. 

Callinan is a Canadian company that creates and acquires mineral royalties, and uses its royalty income to provide alternative financing options to junior miners and explorers. It has about $27 million in cash, and no debt, as well as two producing royalties. 

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Fri, 11 Oct 2013 09:18:00 -0400 https://ca.proactiveinvestors.com/companies/news/97862/avrupa-to-raise-another-350000-through-financing-with-callinan-48863.html