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Avrupa Minerals Signs Definitive Earn-In/Joint Venture Agreement with MATSA For Alvalade Project
Minas de Aguas Teñidas, S.A. (MATSA) operates three Copper-Zinc-Lead mines in the Iberian Pyrite Belt. VANCOUVER, British Columbia, Nov. 20, 2019 (GLOBE NEWSWIR
About this update from Avrupa Minerals Ltd.
[{"type":"text","content":" Minas de Aguas Teñidas, S.A. (MATSA) operates three Copper-Zinc-Lead mines in the Iberian Pyrite Belt. VANCOUVER, British Columbia, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (TSXV: AVU) (US OTC:AVPMF) (FRANKFURT:8AM) is pleased to report that it has signed a definitive agreement with Minas de Aguas Teñidas, S.A. (“MATSA”) to form an earn-in exploration and exploitation joint venture on its Alvalade copper-zinc Project in the Iberian Pyrite Belt of southern Portugal. The Joint Venture company (“Newco”) will now be set up, and an application made to the Mining Bureau of Portugal to complete the process of issuing the new Alvalade Experimental Exploitation License (“EEL”) to Newco, as conditions precedent to completing the agreement. The terms of the MATSA Earn-in/Joint Venture Agreement have already been published via Avrupa Minerals news release on October 1, 2019. A copy of the news release may be found on Avrupa’s website at www.avrupaminerals.com. Paul W. Kuhn, President and CEO of Avrupa Minerals, stated, “The signing of the Alvalade Agreement with MATSA is another positive milestone for the Project and for Avrupa Minerals. We are extremely pleased to be working with MATSA who already has three operating copper, zinc, and lead mines in the Iberian Pyrite Belt of Spain. We are looking forward to getting back to advancing the Sesmarias prospect at Alvalade, as well as potentially advancing several nearby prospects at Monte da Bela Vista and Lousal.” Exploration Plans The most recent drilling at the Sesmarias copper-zinc prospect, within the Alvalade License, demonstrated the potential for a large area of massive sulfide mineralization at Sesmarias. Presently, geological parameters of the 10 Lens suggest a mineralized body at least 600 meters long x 300 meters wide x 25 meters thick. Drill intercept grades averaged 0.35 – 0.5% copper and 0.4 - 1 g/t gold in just six holes along the strike length of presently known mineralization. The aim of the first stage of this agreement with MATSA is to delineate a deposit at Sesmarias or at other targets within the Alvalade license with a significant drill program. Some of those other targets include the past-producing Lousal Mine, the Monte da Bela Vista stockwork zone, and at the past-producing Caveira Mine. Minas de Aguas Teñi...