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Avrupa Minerals Ltd
Symbol AVU
Shares Issued 93,793,797
Close 2018-10-11 C$ 0.04
Market Cap C$ 3,751,752
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Avrupa Minerals plans drilling at Alvalade

2018-10-11 15:05 ET - News Release

Mr. Paul Kuhn reports

AVRUPA MINERALS ANNOUNCES ALVALADE DRILLING PROGRAM

Avrupa Minerals Ltd. has planned a drilling program for this fall to advance the Sesmarias copper-zinc discovery on its 100-per-cent-owned Alvalade property.

Avrupa Minerals continues to work on completing its previously announced option agreement with a large international copper producer for three of its projects, including the Alvalade project (please see Avrupa Minerals' news release dated March 5, 2018). However, due to the significant delays and uncertainty of the transaction being completed, Avrupa Minerals' board has decided to advance the project in the meantime to ensure that the licence is kept in good standing, as required by the Portuguese mining authority, and potentially attract other exploration partners.

Alvalade project -- copper-zinc discovery

Avrupa Minerals made a blind discovery of copper-rich and zinc-rich massive sulphide mineralization at the Sesmarias site approximately four years ago. The discovery has only been sparsely followed up due to continuing delays caused by optionee partners.

Avrupa Minerals is planning a 2,500-metre-to-3,000-metre drill program to expand currently known mineralized areas and to determine the potential size of the mineralization found to date. Avrupa Minerals' mineralization mix is similar to that of the massive sulphide lenses reported at Martifer's Aljustrel mine, located less than 40 kilometres away, and Lundin Mining Corp.'s Neves Corvo mine, located 70 kilometres away from Alvalade along the trend of the Iberian pyrite belt of south Portugal.

According to Lundin Minings' 2017 management's discussion and analysis, the Neves Corvo mine expects to produce 39,000 tonnes to 44,000 tonnes of copper at a cash cost of approximately $1.30 (U.S.) per pound, as well as 68,000 tonnes to 73,000 tonnes of zinc (cash cost included in the copper figure) in 2018. Neves Corvo had sales of $328,925,000 (U.S.) in 2017. The style and size of massive sulphide mineralization at the Neves Corvo mine are the targeted model for the Alvalade project.

A summary of the previously announced results from Alvalade under its first optionee partner is presented as follows:

  • SES002 -- 10.85 metres of 1.81 per cent copper, 75.27 parts per million silver, 2.57 per cent lead, 4.38 per cent zinc and 0.13 per cent tin;
  • SES006 -- 1.5 metres of 1.66 per cent copper, 54 parts per million silver, 2.30 per cent lead, 3.66 per cent zinc and 0.091 per cent tin -- mineralization cut off by faulting;
  • SES008 -- five metres of 0.64 per cent copper, 36.8 parts per million silver, 0.94 per cent lead and 1.54 per cent zinc -- mineralization cut off by faulting;
  • SES009 -- 2.3 metres of massive pyrite (not analyzed);
  • SES010 -- 57.85 metres of 0.45 gram per tonne gold, 25.1 grams per tonne silver, 0.32 per cent copper, 0.61 per cent lead and 1.95 per cent zinc.

The Alvalade project was optioned out to a second partner in Q3 2015. During this earn-in period (2015 to 2017), Avrupa Minerals drilled 10 additional holes into various locations in the Sesmarias target area. Four of the holes physically confirmed and extended the SES010 massive sulphide lens to a length of over 300 metres with a 20-metre-to-40-metre true thickness. The lens is open to the northwest and down dip to the northeast. The assays from those four holes are provided in the attached table.

                             2015-16 DRILL INTERCEPTS FROM THE SES010 LENS

Drill hole     From (m)    To (m)    Intercept (m)    Cu (%)    Pb (%)    Zn (%)    Au (g/t)    Ag (g/t)

SES019          263.50    315.20            51.70      0.44      0.75      2.71        0.40       17.35   
including       264.15    299.05            34.90      0.40      0.99      3.46        0.38       20.67   
including       280.45    290.95            10.50      0.36      1.71      5.18        0.37       21.71   
SES020          277.85    287.55             9.70      0.25      0.57      0.99        0.47       24.70   
                297.70    319.95            22.25      0.55      0.59      0.66        0.53       20.54   
                325.00    334.10             9.10      0.32      0.14      0.52        0.68       11.31   
                337.85    356.65            18.80      0.33      0.14      0.64        0.26        6.40    
SES021          262.85    277.65            14.80      0.36      0.29      0.40        0.43        9.82    
SES022          323.90    376.00            52.10      0.43      0.49      0.98        0.62       17.31   

In 2015, in concordance with the drilling campaign, Avrupa Minerals conducted downhole geophysical surveys utilizing the mise-a-la-masse (MALM) electrical method. Combined with historic ground magnetics and gravity data, the MALM work suggested that the massive sulphide lens may continue for another 300 metres, or more, to the northwest from SES022. Recent geochemical sampling, using ultratrace-level detection methods to analyze for base metals and a suite of pathfinder elements, in the area of the original SES002 discovery hole has demonstrated even further northwest extension potential for the SES010 massive sulphide lens. Technical understanding of the subsurface geology also suggests a possible extension of the lens to the southeast of up to 100 metres. There is also potential for further extension of the SES002 discovery lens, which now appears to be a separate lens from the SES010 lens. It is common to have multiple massive sulphide lenses in pyrite belt deposits.

In addition to further downdip and strike length massive sulphide targets found along the 1.8-kilometre trend of Sesmarias mineralization, there are at least four other separate drill-ready targets in the immediate Sesmarias area, a significant target in the Pombal area located about 10 kilometres southeast of Sesmarias, as well as several targets at the Monte da Bela Vista stockwork discovery located about 10 kilometres north of Sesmarias, all on the Neves Corvo mineral trend. In the upcoming drilling program, Avrupa Minerals intends to drill in the areas of the SES002 and SES010 sulphide lenses.

Furthermore, with completion of recent internal studies of the Sesmarias-Lousal-Monte da Bela Vista area, Avrupa Minerals anticipates the potential and possibility of creating a new mineral district that combines the positive results from the Sesmarias area, located seven kilometres south of the old Lousal mine, to the Monte da Bela Vista stockwork mineralization, located two kilometres north of Lousal, with the Lousal mine. Review of historic Lousal mine resource and production reports suggests that copper/zinc-bearing massive sulphide mineralization remains in the immediate area of the historic mine workings. Avrupa Minerals will work toward establishing a continuum and enlargement of the massive sulphide mineralization between all three target areas.

To date, 54 holes have been drilled around the licence by Avrupa Minerals for a total of 21,121 metres. More than 10 of the holes intercepted massive sulphides with various grades of copper, zinc and lead. At least 75 per cent of the holes contained base metal mineralization in veins and veinlets, often in stockworks, and often containing detectable gold and silver. All the core remains stored in the Avrupa Minerals core facilities in south Portugal.

About Avrupa Minerals Ltd.

Avrupa Minerals is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator model, of valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo and Germany.

This news release was prepared by company management, which takes full responsibility for its content. Paul Kuhn, president and chief executive officer of Avrupa Minerals, licensed professional geologist, registered member of the Society of Mining Engineers, is a qualified person as defined by National Instrument 43-101 of the Canadian Securities Administrators. Mr. Kuhn has not only reviewed the technical disclosures in this release, but prepared and supervised the preparation or approval of the scientific and technical content in the news release. Concerning the historic Lousal mine, Mr. Kuhn has reviewed two independent, publicly available descriptions of the geology and mineralization of the deposit, as well as supervised and co-authored an internal corporate document describing the geological potential for upgrading and enlarging the quality and size of the Lousal deposit and environs.

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