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Avrupa Provides Update on Progress at Slivovo Gold Project, Kosovo
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 5, 2016) - Completed 21 line kilometers of IP/Resistivity on 10 lines covering the Peshter Gossan mineral resou
About this update from Avrupa Minerals Ltd.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 5, 2016) - Completed 21 line kilometers of IP/Resistivity on 10 lines covering the Peshter Gossan mineral resource area and Gossan and surrounding target areas Completed 5.75 line kilometers on five lines of TEM fixed loop Completed nine exploration/development drill holes, to date Hydrogeological tests underway, seven holes completed Planning for rock mechanics testing underway, seven holes planned Metallurgical and waste characterization testing underway Environmental baseline work continuing Social baseline work continuing Review of infrastructure requirements commencing Avrupa Minerals Ltd. (TSX VENTURE:AVU)(FRANKFURT:8AM) is pleased to report on progress on the Pre-Feasibility Study (\"PFS\") at Slivovo by joint venture company Peshter Mining JSC. Peshter Mining is 75% held by Byrnecut International Limited (\"BIL\") and 25% by Avrupa Minerals (\"Avrupa\" or the \"Company\") through its 100%-owned subsidiary in Kosovo. BIL is funding the PFS to earn-in to 85% of Peshter Mining and has spent in excess of EUR 700,000 this year towards completion of the PFS. The PFS must be completed by April 10, 2017 according to the earn-in agreement. Concurrently, Peshter Mining is also completing requirements for a mining license application. Presently, timing for submission of the application is Q2/Q3 of 2017. Much of the ongoing environmental and social baseline work was initiated in Q4 2015 and Q1 2016. This work will continue throughout the rest of 2016 and into 2017 to complete requirements for both the PFS and the mining license application. With the advent of the field season, Peshter Mining initiated a geophysical program consisting of 10 lines of IP/Resistivity covering 21.375 line kilometers and five lines of Turam electromagnetics over the zones of Slivovo mineralization and surrounding lands. The objects of the program were: 1) locate new mineralization targets and 2) sterilize some land for the use of surface facilities needed in a mining operation. Preliminary technical reporting suggests further mineral potential surrounding the Slivovo Gossan, in the Gossan Extension zone, around the Sandstone Gossan area, and in the Dzemail Zone. There appears to be a new, deeper target located to the SSW of the main Peshter Mining working area, between the Gossan zones and the Dzemail Zone....