(via TheNewswire)
After a successful PEA and Mineral Resource Estimate upgrade at the
In
Drilling continued throughout the year around the Alvalade pre-exploitation license in several target areas, including Caveira South, Casas Novas, Lousal Northwest, Brejo, and Sesmarias. The Company drilled 14 holes totaling 6,530 meters in 2023: two at Caveira South, one at Casas Novas, four in the Lousal Northwest area, one at Brejo, and six in the Sesmarias massive sulfide VMS deposit area.
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Figures 1, 1a. 2023 drilling along trend of Pyrite Belt mineralization within the Alvalade JV license, with Sesmarias enlargement. Background data from 2020-21 helicopter-supported VTEM project. Intense electromagnetic response to railroad tracks and power lines in linear purple colors.
The highlight of the 2023 drilling program was the re-discovery of the high-grade copper-zinc-lead-silver mineralization at Sesmarias in SES23-047 (see AVU news release
To enhance targeting at Sesmarias, The Company performed an IP-Resistivity survey at the end of 2023 covering Sesmarias Central and Northern Zones and the Brejo target area just north of Sesmarias. Results are presently under evaluation, particularly for the North area and for the Brejo area where we have less historic drilling information. The level of success in the coming phase of drilling will determine how best to move towards a mining license application which will be necessary in the first half of 2025.
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Figure 2. Sesmarias section lines, AVU generated. Drillholes in red were completed during 2023 drilling program. Coordinate system,
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Figure 3. Known massive sulfide mineralization at Sesmarias, open both north and south. Drilling in the upcoming phase will target potential high-grade mineralization in the
Drilling in the northern target areas of the Alvalade license was less successful than at Sesmarias. Drilling intersected narrow lenses of polymetallic sulfide mineralization in both Caveira South drill holes and wispy, distal facies, replacement sulfide mineralization in the Casas Novas drill hole. We hope to do follow-up drilling in bothareas at some point in the future, but there are no plans for this in the up-coming drilling phase. Drilling at Lousal Northwest intercepted the mineral horizon black shales, but no significant sulfide mineralization.
The Alvalade project is a joint venture between
Work continued at the Slivova gold-silver project in
Global in situ gold resource increases by 78% over original MRE
Global in situ silver resource increases by 113% over original MRE
New MRE figures:
Measured Resources: 835,000 mt @ 4.3 g/t Au and 15 g/t Ag
Indicated Resources: 296,000 mt @ 3.6 g/t Au and 15 g/t Ag
Inferred Resources: 250,000 mt @ 3.7 g/t Au and 13 g/t Ag
4,500-meter drilling program planned for the next phase of field work, which will include resource infill drilling and exploration drilling around the license
Western Tethyan also commenced environmental and social baseline studies in the project area, committing to a strong and positive social relationship with the communities around the project area, and performed exploration rock and soil sampling around the license to help identify satellite deposits. The government issued trenching and drilling permits for this year, and Western Tethyan is in the midst of planning and budgeting for the 2024 program. Work planned, in addition to continued environmental and social licensing, includes trenching over several untested targets and exploration drilling outside of the main deposit in efforts to increase the mineral resources. Eventually, there may be some infill drilling completed in 2024, as well. We anticipate that Western Tethyan will perform the necessary work to reach the 51% ownership level of the license during 2024, as required by the JV agreement (see news release of
During 2023, Avrupa’s 49%-held
Basic exploration work, continued review of historic core and geophysical data, and modeling of SkyTEM data from the Kangasjärvi license suggest an outstanding un-drilled target close to the old Kangasjärvi Mine. The joint venture is making plans for drilling at the target in 2024. There are further SkyTEM anomalies that may rate drilling after planned exploration work during the up-coming field season.
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Figure 4. Map of Vihanti-Pyhäsalmi
Figure 5. Plan view of the Kangasjärvi SkyTEM drill target, showing a strong conductor northwest and across a major area fault from the historic Kangasjärvi Mine. Most of the conductor has never been drilled.
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Figure 6. Kangasjärvi SkyTEM drill target, section view. The joint venture plans three diamond drill holes totaling 1000 meters later this year. There are other SkyTEM anomalies around the license that may become drill-ready later this year.
AFOy officially acquired the Hallaperä exploration license in the past year. The license covers a known massive sulfide deposit discovered by Outokumpu in 1967. The deposit is 1,500 meters long and ranges from two to 18 meters thick. It remains open at depth below 200 meters from the surface. The most recent drilling, in 1990, cut 1.85 meters @ 1.72% Cu, 1.7 g/t Au, and 44 g/t Ag, with no further work completed since that time.
Figure 7. Copy of the original geological map of the Hallaperä VMD deposit.
The Finnish mining bureau recently awarded an exploration permit to AFOy for another license covering a massive sulfide deposit near the historic
Figure 8. Plan view of the Rauha Deposit (blue/black/yellow lenticular outline). The deposit was discovered via a zinc anomaly in till material, and is covered by 2-20 meters of till at its closest point to the surface.
Figure 9. Section view of the sediment-hosted Rauhala Deposit, sub-cropping under 2 to 20 meters of till.
Upcoming Events
Avrupa will attend PDAC and participate in the Western Tethyan and Europe Session, organized by Mundoro Capital on Sunday morning,
Minas de Aguas Teñidas, S.A. (Sandfire MATSA)is a modern mining company which owns and operates the MATSA Mining Operations in the
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For additional information, contact
On behalf of the Board,
“Paul W. Kuhn”
This news release was prepared by Company management, who take full responsibility for its content. Paul
Neither
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