Thursday, 28 March 2013

Avrupa Minerals says work so far at Covas indicates positive potential, next exploration phase to start in April

Avrupa Minerals (CVE:AVU) reported Thursday on further progress at its Covas tungsten joint venture in northwest Portugal, saying the work so far has indicated positive potential for the prospect. 
The project, which is being operated by Avrupa, is being funded by tungsten explorer Blackheath Resources under an earn-in agreement signed back in May 2011. 
Phase 1 of the exploration program at Covas is now finished, Avrupa told its investors on Thursday, with all outstanding results in hand, successfully confirming known "skarn-related mineral occurrences and extensions" as well as new targets. 
Review of all data, from work including 1,606 metres of core drilling in five separate areas, is now underway in preparation for the next phase of the program that will start in April. 
Notable results from the most recent drilling program include intercepts of high grade tungsten mineralization, particularly 2.11% tungsten over 7.98 metres at the Telheira target and 1.56% tungsten over 11.40 metres at the Lapa Grande target. 
Other results from the drilling confirmed extensions of tungsten mineralization in the skarn zones at Covas . The drill holes were all vertical, the company said, and intercepts are considered to represent close to true thickness of the mostly flat-lying mineralized zones.
"The work, to date, indicates positive potential for the Covas prospect," said the company in its statement, citing president and CEO, Paul W. Kuhn. 
"We will continue our targeting work this spring, with the objective of increasing the size of the known skarn-related tungsten deposits, and with developing a larger tungsten-gold target in the Covas Dome area. We expect to advance the next exploration phase with a drilling program designed to fulfill both objectives during 2013."        
Covas is a past-producing tungsten mine, and remaining historic resources on the property were estimated in 1980 at 922,900 metric tonnes of 0.78% WO3 in the indicated and inferred categories by Union Carbide, based on work including 327 drill holes on the property. 
Mineralization is open to expansion, Avrupa said. 
The junior mineral explorer operates two joint ventures in Portugal, including the Alvalade joint venture with Antofagasta, and the Covas joint venture with Blackheath.              
The company also has several other precious and base metal targets that it is upgrading to JV-ready status, including the porphyry copper-gold potential in southern Portugal in the Alvito license area.
In addition, Avrupa holds properties in Germany and Kosovo, where in late November, the company announced the discovery of a polymetallic gossan zone on its newly-acquired Slivovo exploration license.

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