Avrupa Minerals (CVE:AVU) said after market Wednesday that it has bought the remaining 10 percent interest in MAEPA, an entity that holds all of the company's licenses and mineral properties in Portugal, from owner Eng. Adriano Barros.
company said it now owns 100 percent of MAEPA -- Empreendimentos
Mineiros e Particpacoes -- and that Barros will continue in his role as a
senior exploration and business development advisor for Avrupa, the
Avrupa initially purchased its 90 percent interest in MAEPA in July 2010 as part of its qualifying transaction.
of Avrupa, Paul W. Kuhn, said in a statement that the purchase of the
remaining 10 percent stake allows the company to better negotiate with
potential joint venture partners on its properties in Portugal.
the terms of the deal, Avrupa will pay Barros C$150,000 within 10 days
of Avrupa closing a financing first announced in late February, and will
issue 500,000 common shares as soon as approval is obtained from the
TSX Venture Exchange.
is a junior exploration and development company focused on mineral
deposits in politically stable and prospective regions of Europe,
including Portugal, Kosovo, and Germany.
The company has a
portfolio of exploration projects consisting of copper and zinc in
southern Portugal at Marateca and in the Alvalade joint venture project
area in the Iberian Pyrite Belt, where Europe's richest active copper
It also has tungsten and gold in northern Portugal
at the Covas joint venture, and precious metal and rare earth element
potential in the Aljezur project area in south Portugal.
Kosovo, Avrupa holds silver, lead and zinc at the Glavej, Kamenica,
Selac and Bajgora properties in the Trepca mineral belt of the Vardar
Zone, and copper and gold within the Koritnik exploration license area.
company also has gold in eastern Germany in the 307 square kilometre
Oelsnitz exploration license in the historic Erzgebirge mining district,
a 1,000-year producer of tin, tungsten, silver, base metals and