Friday, 29 June 2012

Avrupa Minerals awarded Slivovo exploration license in Kosovo

Avrupa Minerals (CVE:AVU) said late Thursday that the mining bureau of Kosovo has awarded it with the Slivovo exploration license, which covers what the company calls "an attractive massive sulfide target" that its geologists discovered last year.

The 15 square kilometre license is located in the Trepca Mineral Belt of the Vardar Zone, a long-term producing district of silver and base metals.

"The acquisition of the Slivovo license resulted from our regional prospecting program in Europe," said president and CEO Paul Kuhn.

"The exploration program in Kosovo is part of Avrupa's plan to acquire prospective targets at low cost, complete early stage exploration work to validate the geological targets, and then option the projects to qualified partners for further work and potential discoveries."           

Avrupa said its geological team also completed first-pass sampling, prospecting, and reconnaissance-style geological mapping on the Koritnik license in southern Kosovo.

Initial sample results indicated the possibility for precious metal mineralization related to parallel northeast-trending structures cutting intrusive rocks of the Sharr-Dragash complex, the company said.

Further sample results are expected in the next few weeks.

Avrupa said it continues to entertain joint venture options for the Kosovo exploration program, with at least four base metal targets drill ready on three separate licenses.
The three other licenses cover attractive early-stage base and precious metal possibilities, the company noted.

Earlier this month, Avrupa said that it has started first-pass reconnaissance and generative work on the Oelsnitz project, located in the historic Erzgebirge mining district in eastern Germany.

The district has hosted nearly 900 years of exploration and mining for silver, base metals, tin, tungsten, iron, fluorite and uranium.

Avrupa is a junior explorer using a prospect generator model, for mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.
The company has a portfolio of exploration projects including copper and zinc in southern Portugal, tungsten and gold in northern Portugal, and silver lead, zinc and copper and gold in Kosovo.

It now holds 15 exploration licenses in three European countries, including eight in Portugal covering 2,532 square kilometres, six in Kosovo covering 198 square kilometres, and one in Germany covering 307 square kilometres.

The company operates two joint ventures in Portugal. 

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