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Avrupa Minerals looking for targets at the Alvito iron oxide copper-gold project

IOCG deposits are characterized by large volumes of iron oxide-dominated alteration
Avrupa Minerals looking for targets at the Alvito iron oxide copper-gold project
Pictured is Lisbon in Portugal

Avrupa Minerals Ltd (CVE:ARU) has begun exploration  at the Alvito iron oxide copper-gold (IOCG) project in Portugal in a bid to identify targets, it said, updating on operations.

The firm's partner at Alvito - OZ Minerals - has provided funding for the first phase, which is designed to identify drill targets.

Oz can up earn up to a total 75% in the project by spending A$4mln over around 2.5 years and 51% by spending A$1mln in year one.

IOCG deposits are characterized by large volumes of iron oxide-dominated alteration, with associated copper and gold mineralization. Examples include the Olympic Dam Mine in Australia owned by the mining major BHP Billiton Ltd (LON:BLT).

Alvito lies around two hours from the capital Lisbon and the work will focus on a large copper-in-soil anomaly with a strike extent of 24km

The geological and geophysical data will be integrated with results from historical work, and used to identify and rank drill targets for second phase exploration.

At the Marateca VMS   project, also in Portugal, Avrupa drilled two holes for possible mineralization in the late fall of 2016. Results from the holes at the Pego do Altar gossan target indicated anomalous base metal geochemistry over 38.25 meters in one, and over 18.1 meters in another.

Meanwhile, in Kosovo, results from widespread soil sampling on the Metovit license, less than 15km north-east of the Slivovo gold project, indicate several new target areas for further groundwork, the firm added.

Avrupa plans to conduct follow-up work at Metovit later in 2017.

Avrupa shares were unchanged at $0.095 on the day.

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