Explorer Sees Big Drill Results in Portugal

It appears Avrupa Minerals has lastly hit at its Sesmarias North goal. The Crucial Investor discusses the outcomes with CEO Paul Kuhn.

A number of weeks after Avrupa Minerals Ltd. (AVU:TSX.V; AVPMF:OTC; 8AM:FSE) introduced the acquisition of 4 exploration properties in Finland, the corporate was joyful to lastly announce a major drill end result on the Sesmarias goal, a part of its flagship Alvalade venture in Portugal.

As they had been in search of giant mineralized intercepts for nearly two years now, scanning the complicated folded construction stepping out gap by gap, administration was delighted to lastly hit a mineralized intercept of a minimum of 113.8 meters in complete. Though Avrupa has been concentrating on 1% copper grades along with JV accomplice Matsa Assets Restricted (MAT:ASX) (within the technique of being taken over by Sandfire Assets NL [SFR:ASX] for $1.87 billion), I’m certain Matsa isn’t too upset with the ensuing copper equal grades. Such lengthy intercepts are able to constructing severe tonnage as effectively, and that is precisely what drives production-focused outfits like Matsa (and Sandfire).  

The reported outcomes had been coming from one deep gap, SES21-044, however it was a formidable intercept. Beginning at 417.2m depth, there have been varied mineralized zones for every metallic:

  • 103.0 meters @ 0.51 g/t Au
  • 96.0 meters @ 29.2 g/t Ag
  • 113.8 meters @ 0.35% Cu
  • 96.0 meters @ 0.86% Pb
  • 96.0 meters @ 1.98% Zn

This included a 60.4 meter vast zone with barely increased grade mineralization, grading 0.40% Copper, 0.68 g/t Gold, 37.08 g/t Silver, 0.96% Lead, and a pair of.33% Zn. Though Chief Government Officer Paul Kuhn by no means likes equal grades, I do imagine on this case it’s needed as simply the copper or zinc grades aren’t enough, and there are simply too many polymetallic by-credits. Used metallic costs for my equal calculations are $4.00/lb Cu, $1.50/lb Zn, $1.00/lb Pb, $1780/oz Au and $22/oz Ag. In consequence, the 60.4 meter intercept is available in at 2.25% CuEq or 6.01 % ZnEq, and the 96.0 meter intercepts at 1.87 % CuEq or 5.00 % ZnEq, as these are the metals MATSA is concentrating on. After all, the recoveries for particularly the valuable metals aren’t as excessive as the bottom metals, and subsequently the efficient general restoration will seemingly are available in at round 75%, however such a ensuing copper or zinc grade of 1.6% CuEq or 4.5% ZnEq continues to be financial at $4.00/lb Cu or $1.5/lb Zn. These grades sound low, however bear in mind the metallic worth of 1.6% copper can be $141/t ore, however opex for underground mines varies wherever between $40/t to $80/t, so there’s fairly a little bit of margin.

Avrupa Minerals has accomplished 16 drill holes now at Sesmarias North, totaling 8,150 meters, together with three holes that had been misplaced because of tough downhole drilling situations, and one scout gap. The corporate additionally drilled a 614 meter scout gap on the Caveira goal, which will likely be reported later throughout Q1. As Avrupa may be very methodologically exploring the Sesmarias goal, due to its complicated, folded construction, the reported gap SES21-044 was a part of a fence, drilled at part 350S to the south, as might be seen right here on this map:

To get an impression about how complicated the geology at depth actually is, check out the next part 350S:

It actually is a tremendous puzzle to unravel, however it appears they’re getting nearer now, as there, in reality, are vital widths of mineralization. Administration estimates that is an initially 30 meter to 40 meter vast zone, earlier than folding, and there might be extra folded mineralized zones as indicated in pink within the part above. Drill gap SES21-040 was already a pleasant indicator, because it returned 36.45 meters at 0.72% Cu, 0.36 g/t Au, 21 g/t Ag, and 0.82% Pb from 479.4 meters (or 36.45 meters at 1.29% CuEq), together with 11.0 meters at 1.05% Cu, 0.51 g/t Au, 39.2 g/t Ag, and 1.64% Pb. Concerning holes SES21-041/042/43, these will likely be reported afterward throughout Q1.

Mineralization happens predominantly within the higher a part of huge sulfide physique, but in addition in semi-massive sulfides and underlying stockwork. Now Avrupa and MATSA have an excellent look on the folding, they’re shifting the drill rig to part 250S, with a view to drill SES21-046.

As gap SES21-044 hit alongside part 350S, probably the most southern part, Avrupa goals at testing all different sections to the east as effectively. If profitable with likewise intercepts alongside strike, they might show up not less than a 500 meter lengthy zone, 100 meter excessive and 40 meter vast, leading to 8Mt utilizing a particular gravity of 4t/m3 for enormous sulfides for Sesmarias North. Be mindful it’s nonetheless early days right here in fact. I guesstimated the tonnage for the Sesmarias 10 Lens at 19-20Mt, so slowly however absolutely the JV is approaching first rate numbers right here, though the aim is 50Mt. On the query if MATSA already noticed sufficient to increase the earn-in, Kuhn answered:

“For now, everyone seems to be joyful in regards to the ongoing route.  There’s nonetheless quite a bit to do at Sesmarias to check all the recognized strike size of mineralization, which is not less than 1.7 kilometers.  And there are untested targets all the best way as much as the Caveira Mine, 16 km north of Sesmarias.  We are going to wait and see what the brand new proprietor Sandfire desires to do,” he stated.

As traditional, I at all times hold harassing Kuhn in regards to the standing of the extraordinarily helpful reconstruction of previous Lousal knowledge, because the acquisition of the information is now full and will likely be entered right into a 3-D modeling program throughout January/February. 

“Work will proceed with the modeling program within the coming months, as we acquired a considerable amount of new knowledge across the Lousal workings,” Kuhn stated. “We’re already doing new discipline exploration primarily based on among the new knowledge and likewise incorporating among the data into ongoing concentrating on work on the Monte da Bela Vista space, positioned instantly adjoining to the north of the Lousal mine workings.”

Lastly, now that Avrupa acquired the 4 Finnish properties, I questioned what the standing is of the tasks they’re engaged on, with a view to get the mandatory exploration permits. 

“The corporate is actively engaged on the data-in-hand for the Kolima reservation to totally determine lands needed for the exploration license utility,” he stated. “We are going to present data on that within the close to future. The corporate plans to do additional evaluation investigations with a view to correctly determine the potential lands for exploration licenses within the different three reservations. These purposes are usually not due till later within the yr.” 

On a closing be aware, however fairly vital nonetheless, in line with Chairman Mark Brown, some further funds are essential to pay for exploration expenditures, so he’s seeking to do a elevate quickly.


Slowly or not, Avrupa lastly appears to have hit sufficient mineralization to point first rate tonnage, and that is precisely what JV accomplice MATSA is after. Each corporations have a greater thought now the place to search for mineralized folded buildings at depth, and that is precisely the technique they’ll deploy to any extent further. New drill outcomes are anticipated to return again from the lab after the current drill gap is accomplished on the 250 S part.  Within the meantime, Avrupa is working diligently at their exploration permits in Finland and can quickly present data for the Kolima Reservation. Let’s see what this tiny junior can accomplish after an upcoming elevate is accomplished, and exploration in Finland can begin.

I hope you’ll find this text fascinating and helpful, and may have additional curiosity in my upcoming articles on mining. To by no means miss a factor, please subscribe to my free publication on www.criticalinvestor.eu with a view to get an e mail discover of my new articles quickly after they’re revealed.

All footage are firm materials, except said in any other case.

All currencies are in U.S. {Dollars}, except said in any other case.

Please be aware: the views, opinions, estimates, forecasts or predictions concerning Aztec’s useful resource potential are these of the creator alone and don’t characterize views, opinions, estimates, forecasts or predictions of Aztec or Aztec’s administration. Aztec has not in any approach endorsed the views, opinions, estimates, forecasts or predictions supplied by the creator.

The Crucial Investor is a publication and complete junior mining platform, offering evaluation, weblog and newsfeed and all kinds of details about junior mining. The editor is an avid and important junior mining inventory investor from The Netherlands, with an MSc background in development/venture administration. Quantity cruncher at venture economics, in search of high-quality corporations, principally progress/turnaround/catalyst-driven to keep away from an excessive amount of dependence/affect of long-term commodity pricing/market sentiments, and infrequently in search of long-term deep worth. Getting burned prior to now himself at junior mining investments by following overly constructive sources that as a rule averted to say (hidden) dangers or important flaws, The Crucial Investor realized his lesson effectively, and goes a number of steps additional ever since, offering a contemporary, extra in-depth, and important imaginative and prescient on issues, therefore the identify.

The creator is just not a registered funding advisor, and has a protracted place on this inventory. Avrupa Minerals is a sponsoring firm. All details are to be checked by the reader. For extra data go to aztecminerals.com and skim the corporate’s profile and official paperwork on www.avrupaminerals.com, additionally for vital threat disclosures. This text is supplied for data functions solely, and isn’t supposed to be funding recommendation of any sort, and all readers are inspired to do their very own due diligence, and discuss to their very own licensed funding advisors prior to creating any funding choices.


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