Avrupa Minerals' Phase 2 Drilling From Covas Tungsten Joint

Avrupa Minerals (CVE:AVU) reported Tuesday phase 2 drilling results from its Covas tungsten joint venture project in northern Portugal, saying the campaign expanded zones of tungsten mineralization in each of the four areas tested while also discovering a new zone.

The project is operated by Avrupa and fully funded by Blackheath Resources (CVE:BHR) under a joint venture agreement signed back in 2011. Blackheath has already earned a 51% stake in the property, and is now close to securing 70%, which requires an additional expense of 700,000 euros by March 20.

Blackheath can also earn a further 15% stake, for a total 85% interest, by funding an NI 43-101 compliant pre-feasibility study by March 20, 2016.

Of the highlights from the phase 2 program, the company returned 3.05 metres of 1.26% tungsten, including 1.05 metres of 2.07%, starting at a depth of 12.75 metres.

Avrupa said that drilling at Castelo extended tungsten mineralization in both the southwest and southeast directions, in previously unexplored areas.

The phase 2 program was comprised of 14 diamond drill holes, drilled in four different target zones -- Muito Seco, Lapa Grande, Telheira, Castelo -- and a new zone lying between the historic Cerdeirinha Pit area and the Muito Seco zone.

The company said that results from both the first and second phase of drilling "clearly indicate" that there is further potential for expansion at all five target areas, as well as for discovery of new mineralization near and around the known mineralized zones.
It added that there are still a number of outstanding, under-explored target areas around the Skarn Ring, as well as in the Covas Dome, itself.

"We are pleased and encouraged with the overall results from the Phase 2 drilling at Covas. We were able to expand and upgrade a number of important target areas," said president and CEO Paul W. Kuhn.

"Our follow-up geological and structural analyses of the new work, combined with all of the historic data, allows us to better target potential high grade tungsten zones, as well as target further expansions of known mineralization.

"We look forward to using this information to plan for Phase 3 drilling, which will bring the JV closer to the goal of completing a NI 43-101 resource estimate for the project."

Covas is a past-producing tungsten mine, and remaining historic resources on the property have been estimated at 922,900 metric tonnes of 0.78% tungsten by Union Carbide in 1980, based on work including 327 drill holes on the property. Mineralization is open to expansion.

Avrupa, which has properties in Portugal, Kosovo and Germany that it is working to joint venture, holds a total of 15 exploration licenses in these European countries, including nine in Portugal. It operates three joint ventures in Portugal, including the Covas partnership and the Alvalade joint venture with Antofagasta Minerals in the southern part of the country. It also recently signed a term sheet to option out its Slivovo project in Kosovo, in a deal with Australia's Byrnecut International.

Aside from preparing its properties for potential joint ventures this year, Avrupa is also looking to add projects in new areas to its exploration pipeline, and drop assets that do not meet joint venture criteria, it said.


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