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Avrupa says plenty of room for further drilling at Slivovo in Kosovo

Avrupa says plenty of room for further drilling at Slivovo in Kosovo

Avrupa Minerals (CVE:AVU) has intersected more gold at its joint venture Slivovo property in Kosovo, with drilling to begin again towards the end of March.

The company reported results from two holes, which included a 12 metre intercept of 12.2 grams per tonne (g/t) gold and 8.02 g/t silver in hole SLV005. This interval included a 7.4 metre intercept of 19.3 g/t gold and 9.32 g/t silver, with visible gold present in a number of sports throughout the interval, Avrupa said.

The second hole, SLV006, returned 10.8 metres of 1.25 g/t gold and 15.1 g/t silver and 3.4 metres of 3.12 g/t gold and 20.8 g/t silver.

So far, Avrupa has drilled eight holes in the first phase of its program, for about 1,000 metres of drilling. The campaign has been suspended on account of the winter weather, but is expected to begin again near the end of March.

The next holes are planned in the epithermal target area, Avrupa said, which will allow time to construct access to further drill sites in the gossan zone.

"We continue to be extremely pleased with the results at Slivovo, particularly those from SLV005," said president and chief executive officer Paul Kuhn.

"We have determined that the probable true thickness of the Slivovo gold mineralization is at least 12 meters, at a distance of approximately 100 meters down the dip of the host sulfide block. Surface outcrops of mineralization suggest that the true thickness may reach to over 20 meters, up dip, closer to the surface."

"While gold results in SLV006 were not as outstanding as those of SLV004 and SLV005, we have shown that the mineralization continues down dip, and that there is plenty of room for further drilling, both along width and at depth."

Every drill hole so far has added to the company's knowledge of the project, and has upgraded its model, Kuhn added, saying he is excited about the potential.

The property is funded by Avrupa's partner Byrnecut International, but is being operated by Avrupa. Shares of Avrupa surged last month after announcing results from hole SLV004 at Slivovo.  The full 126.5 metre intercept returned grades of 6.2 g/t gold, 15.0 g/t silver, 0.092% copper, 0.16% lead and 0.45% zinc.

Avrupa, which holds a total of 11 exploration licenses in Portugal, Kosovo and Germany, had three partner companies fund a total of five drilling programs on its properties last year, excluding Slivovo. Its stock has nearly doubled in the past 12 months.

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January 04 2017

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