Avrupa Minerals (TSXV:AVU) is a growth-oriented, junior exploration and development company based in Vancouver, British Columbia. Using their unique prospect generator model, Avrupa Minerals’ focus is on aggressive exploration for valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Germany and Kosovo. (Hear Rick Rule’s views on Prospect Generation) Avrupa Minerals’ projects are all located in areas with existing mines and strong geological potential for discovery of further economic metal deposits. The aim of the prospect generator model is to create shareholder value through the development of their project portfolio with the focus towards a joint venture or sale to larger mining companies.
- Generates new projects to be optioned through early-stage reconnaissance exploration programs
- Shareholders benefit from property exploration via partners with less dilution as a result of prospect generator model
- Focuses on established mining districts with new ideas and expertise
- History of successful explorationists with discoveries in the Americas, Turkey, Kosovo and South Africa
- Phase 3 drilling to began at Alvalade in early March 2013
Avrupa Minerals, through its MAEPA subsidiary, holds eight exploration licenses in Portugal which are spread from the north to the south of the country. Three other exploration areas are in the early stages of application.
Four of the five southern licenses are located in the northernmost part of the Portuguese portion of the Iberian Pyrite Belt (IPB). These are the company’s most important, as the IPB is historically one of the world’s largest and most prolific copper-zinc-iron massive sulfide belts. Avrupa Minerals’ IPB licenses are located to the northwest of, and along trend from the giant Neves Corvo copper-zinc-tin massive sulfide deposit, the largest operating copper-zinc mine in Europe. Three of these licenses have been incorporated into the Alvalade Joint Venture with Antofagasta Minerals SA (AMSA).
Alvalade JV: Iberian Pyrite Belt
Avrupa and AMSA signed a joint venture agreement to explore three contiguous licenses in the northern portion of the Portuguese sector of the Pyrite Belt. The three licenses — Alvalade, Canal Caveira, and Ferreira do Alentejo, cover 1000 km2 of land and three distinct belts of potential target host rocks. Prior to signing the agreement, Avrupa Minerals acquired a large amount of data from the Portuguese Geological Survey, reprocessed old geophysical surveys, including regional gravity and TURAM data, re-logged and sampled old drill core, and compiled a first pass target list of over 75 anomalies.
Further reprocessing of data covering the entire potential area, additional drillhole re-logging and sampling, field mapping, and rock chip sampling have already upgraded three anomalous districts: Azinheira dos Barros, Monte de Bela Vista, and Aldeia dos Elvas. The companies are currently working through drillhole targeting in these three areas, as well as continuing to review the original first pass list of targets and reprocessed regional gravity data.
In addition to the Alvalade JV licenses, Avrupa also holds the Marateca exploration license at the north end of the Pyrite Belt. The Company has already drilled two holes into the Serrinha target area, highlighted by intercepts of silver-rich, stockwork quartz-pyrite mineralization. The license contains at least seven other targets that have yet to be adequately tested. The Company is actively pursuing potential partners to participate in the further development of the license area.
Covas JV: North Portugese Tungsten Belt
Avrupa Minerals and Blackheath Resources Inc. completed a JV agreement to continue exploration at the Covas tungsten prospect. The property has a non NI 43-101 compliant (indicated and inferred) mineral resource of 922,900 metric tonnes of 0.78% WO3. Information about the historic Covas tungsten resource comes from an NI 43-101 technical report entitled “Covas Tungsten Deposit”, written for Wega Mining ASA by B.J. Price, P. Geo., in 2007. The Company has not completed sufficient work to validate the information, and is not relying on the information as a current mineral resource estimate.
In addition to the known tungsten bearing skarn mineralization that surrounds the granitic Covas Dome intrusion complex, there may be potential for further tungsten mineralization directly related to the complex, itself, as well as the possibility for intrusion-related gold mineralization. Mapping and sampling work completed earlier in 2011 outlined a +900 meter zone of anomalous gold in rock samples, within the intrusion complex.
Avrupa acquired six new licenses in 2012. The Arga license is located adjacent to the Covas JV area in northern Portugal. Previous work in the license area has outlined gold-silver-arsenic bearing quartz vein swarms hosted in the same structural zone that localizes the nearby Covas tungsten mineralization. The style of mineralization in the Arga district appears to be intrusion-related. The Company hopes to update the old work, prepare targeting, and attempt to drill several first-pass exploration holes this year.
The 270 km2 Aljezur license in southern Portugal covers an unusual alkalic intrusion. Previous stream sediment sampling work has identified a wide zone of copper anomalism at the western margins of the Monchique intrusion complex, and along a 10-kilometer linear zone, trending away from the intrusion. First-pass reconnaissance work is planned for this year, with the idea of delineating attractive general target zones for a possible regional-style exploration joint venture.
The Alvito exploration license covers 988 square kilometers of prospectable land straddling the northeastern margin of the Pyrite Belt and the Ossa Morena zone of southern Portugal. Avrupa plans to undertake the initial systematic grassroots program in the region for possible porphyry copper and gold mineralization. The new Alvito license also covers extensions of several untested target areas on the Company’s Marateca license, lying immediately to the west of Alvito.
Additional acquisitions include the Candedo and Sabroso licences in Northern Portugal on a tungsten and gold belt and the Sines licence in Southern Portugal on an unexplored part of the Portuguese Pyrite Belt.
Avrupa Minerals holds five exploration licenses in Kosovo, through its 92.5% owned subsidiary Innomatik Exploration Kosovo. The licenses cover a total area of 167 square kilometers. The country of Kosovo covers a portion of the prolific Vardar Mineral Zone, which historically was one of Europe’s most important silver-lead-zinc districts. Most base metal exploration in the country has occurred in the Vardar Zone areas. However, Avrupa has started to look in other parts of the country for both gold and copper-gold possibilities. The Company’s new Koritnik license is located in southernmost Kosovo, and covers an area with copper-gold porphyry potential. There has been little or no previous exploration in the Koritnik area.
The Company’s other four licenses are located in the Vardar Belt near to two long-lived mines, Stan Terg and Artana (Novo Brdo), each having produced significant amounts of silver, lead, zinc, and gold from massive sulfide deposits. Both mines are still operated by Trepca Mines, the state mining company. Avrupa Minerals completed a three hole scout program of approximately 750 total meters last year to ascertain potential targets on the Kamenica and Glavej licenses.
Results from drilling at the Metovic and Grbes targets on the Kamenica license suggest the presence of a possible large, buried porphyry system, and further surface work has just commenced to verify and validate new targets possibilities. Drilling at the Hazelnut Hill target on the Glavej license was not completed due to difficult drilling conditions and the early start of winter weather last season. The first drill hole at Hazelnut Hill bottomed in visible base metal mineralization, hosted in a heavily veined clay zone. Results from the drilling and detailed geological mapping in the nearby Selac target area are presently being reviewed in order to upgrade targeting.
The Company is seeking a strong mining partner to form a strategic alliance to more efficiently upgrade and advance the base and precious metal targets to potential new discoveries. There has been little, if any, previous systematic grassroots exploration in the country.
Avrupa Minerals formed a Joint Venture with Beak Consultants GmbH to explore for gold and other metals in the Erzgebirge Mining District in eastern Germany. The historic area has been active since Saxon times in the 1100’s, and the license covers 307 km2 of prospective land. The new license covers an area that has historic production of tin, silver, base metals, and uranium. There has been no known exploration for gold within the license area, but the Company sees potential for discovery of intrusion-related gold mineralization.
Avrupa Minerals must fund 140,000 of exploration work to earn-in to 85% of the Oelsnitz project to form the Erzgebirge JV.
Avrupa Minerals has a strong, highly dedicated management team with extensive and broad experience from the exploration stage through to development. Management is supported by an active board consisting of a wide range of exploration and financial experience. The Company’s experienced management team and board of directors continue to contribute to the success of Avrupa’s successful exploration efforts and significantly enhances the Company’s prospect generator business model.
In its present areas of exploration, Avrupa Minerals Ltd. enjoys excellent relations with government mining agencies, local authorities, and the communities in which it works.
Paul Kuhn – Director, President, and CEO
Mr. Kuhn joined Avrupa Minerals in July 2010 after working with Metallica Mining in Oslo, Norway since August 2008. He has more than 30 years of experience in the minerals exploration business in North America, Central Asia and Europe. He earned an A.B. Degree from Dartmouth College, US, in 1978, and an M.S. Degree from the University of Montana, US, in 1983. Mr. Kuhn has worked in a variety of geological terrains, exploring for gold, silver, base metals, uranium, and phosphate deposits, and has spent time as a production geologist in the deep underground mines of the Coeur d`Alene Mining District, historically one of the world’s most important silver districts.
Mr. Kuhn has managed successful exploration programs in the US and Turkey, and was involved in a number of base and precious metal discoveries in Turkey, including the Taç and Çorak polymetallic deposits (presently being developed by Mediterranean Resources), the Cerattepe Cu-Au volcanogenic massive sulfide deposit (held by Inmet Mining), the Altıntepe epithermal Au deposit (being developed by Stratex International), the Diyadın Carlin-style Au deposit (developed by Newmont Mining and currently held by Koza Altin), and the Karakartal porphyry Cu-Au deposit (being developed by Anatolia Minerals). Mr. Kuhn was also involved with the original mapping and description of the Çöpler porphyry Au deposit (presently under mine construction and development by Anatolia Minerals).
Winnie Wong – CFO
Ms. Wong is the Vice President of Pacific Opportunity Capital, a financial consulting firm. She is the CFO of other publicly listed companies on the TSX Venture Exchange.
Adriano Barros – General Manager MAEPA sub (Portugal)
Mr. Adriano Barros received his Degree in Mining Engineering from the University of Oporto, Portugal in 1970. Since then, Mr. Barros has been one of Portugal’s leading exploration and mining consultants, and has been deeply involved in the promotion of the Portuguese mining sector. In addition to working as a lecturer at several leading Portuguese universities, Mr. Barros has worked on tungsten, base metal, and precious metal projects from exploration to production stage.
While working for Auspex Minerals and Eurozinc Mining Company in the 1990s and early 2000s, Mr. Barros was the key person involved in the acquisition of the Aljustrel Mine in 2001 and the Neves Corvo Mine, Europe’s largest copper mine, in 2004. Presently, Mr. Barros is president and general manager of MAEPA Lda., the 90%-owned subsidiary of Avrupa Minerals. His wide experience in the mining sector of Portugal and his extensive contact network in that sector give Avrupa Minerals a significant edge in the exploration business in Portugal. Mr. Barros currently resides in Moledo do Minho, Caminha, Portugal.
Paul I. Nelles – Managing Director IEK sub (Kosovo)
Dr. Paul Nelles graduated from TU Berlin in 1972 with a Degree in Mining Engineering and obtained a PhD in Mineral Processing in 1975. He worked internationally in base metal mining for Metallgesellschaft between 1975 and 1991, at which stage he held the position of General Manager, Project Development. In 1991 he was employed as technical director and appointed to the executive board of DESTAG, a leading dimension stone producer and worldwide trader. He was subsequently appointed CEO of the company.
Dr. Nelles joined Normandy LaSource in France, as executive director for gold production and industrial minerals in 1997. In 2002 he was appointed as the “Trepca Manager” by the United Nations Mission in Kosovo and was promoted to Deputy Managing Director of the Kosovo Trust Agency in 2004, in charge of all major publicly owned enterprises. Since 2006 he has worked as an independent mining industry advisor and has been instrumental in the formation of Innomatik Exploration Kosovo LLC, a 92.5%-owned subsidiary of Avrupa Minerals. Dr. Nelles lives near Frankfurt, Germany.
Michael Diehl – Chief Geologist (Kosovo)
Dr. Michael Diehl studied geology and mineralogy at the University of Mainz in Germany where he received his MSc in 1982 and PhD in 1989. From 1984 to 1991 he worked for the Ministry of Mines and Energy, Geological Survey of Namibia, division for Economic Geology and Raw Materials. From 1991 to 1997 Dr. Diehl worked for the DESTAG Group in Germany as chief geologist and technical director. He was responsible for the discovery and development of several significant granite deposits in Africa, Brazil, and North America. His work in South Africa led to the discovery of the Springbok gabbro-norite deposit, which was developed into a large dimension stone mine. Since 1997, Dr. Diehl has worked as a worldwide geological consultant in the base and precious metals’ exploration and resource development business, as well as in the industrial minerals sector.
From 2004 to 2008, he was appointed by the UN Mission in Kosovo as chief geologist of Trepça Mines. There he was in charge of the geology department, regional and underground exploration, as well as reserve and resource management at Trepça. Under Dr. Diehl’s leadership at Trepça, mine reserves were substantially increased, and a new Pb-Zn-Ag orebody was discovered. Since June 2008, Dr. Diehl has worked as exploration manager at Innomatik Exploration Kosovo, a 92.5%-owned subsidiary of Avrupa Minerals. As a result of Dr. Diehl’s significant geological experience in Kosovo, Avrupa Minerals is positioned to be the leading explorer in the country. Dr. Diehl lives near Frankfurt, Germany.
Bryan MacFarlane – Project Manager (Alvalade JV)
Mr. MacFarlane has project exploration experience in the US, Mexico, Portugal, and Kosovo. He has obtained a M.S. in Structural Geology from Arizona State University.
Mark Brown – Director
Mr. Brown is the President of Pacific Opportunity Capital, a financial consulting firm. He was previously at PriceWaterhouseCoopers, Miramar, and Eldorado.
Greg McKelvey – Director
Mr. McKelvey is the Director of Animas Resources. He has over 40 years of worldwide exploration and discovery experience.
Don Ranta – Director
Mr. Ranta is the Chairman of the Board of Directors in Rare Element Resources. He has over 40 years of leadership in exploration and project evaluation.