Avrupa Minerals (CVE:AVU) said it is preparing for the second phase of exploration at its Avalade joint venture in Portugal, after completing detailed logging and first-pass sampling of phase 1 drill holes.
The project is
operated by Avrupa and funded by Antofagasta Minerals, the mining
division of London-listed Antofagasta plc (LON:ANTO).
Full geochemical results from all 971 samples from the phase 1 program are expected by mid-September.
said that visual results, supported by core logging, show the
widespread presence of "volcanogenic massive sulfide (VMS)-style
alteration" and stockwork veining in seven of the eight holes drilled in
Two of the holes contain visible copper sulfide mineralization, the miner said.
importantly, Avrupa said the results from logging continue to support
the geo-structural model for targeting potential "massive sulfide
mineralization" within the joint venture work area.
is continually using results from ongoing mapping, rock sampling and
re-logging of historic drill holes to better priortize potential drill
targets for the next phase of drilling.
"We are very pleased with the results, so far," said Avrupa CEO Paul Kuhn in a statement.
new information, coupled with previously assimilated and compiled
geophysical and geochemical data, is being used aggressively to enhance
the drill targeting process.
"Full review and interpretation of
the Phase 1 drill results will also lead directly to follow-up drilling,
though possibly in a potential Phase 3 of the initial JV program, which
could start sometime in early 2013."
Kuhn said that the company
expects to drill in the range of 3,500 to 3,800 metres in the phase 2
program - slated to begin in mid-September.
Antofagasta Minerals' activities are primarily concentrated in Chile,
where it owns and operates four copper mines: Los Pelambres, Esperanza,
El Tesoro and Michilla.
Total production in 2012 is expected to
be approximately 700,000 tonnes of copper, 11,000 tonnes of molybdenum
and 280,000 ounces of gold.
The company also has exploration programs in North America, Latin America, Europe, Asia, Australia, and Africa.
Avrupa Minerals, meanwhile, is a junior exploration company, with mineral deposits in Portugal, Kosovo, and Germany.
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
The company operates two joint ventures in Portugal.
Last month, Avrupa said that work would soon start on its 2012
exploration program at the Covas tungsten-gold joint venture project in
northern Portugal, with Blackheath Resources (CVE:BHR).