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Avrupa Minerals set to bring in $500,000 for exploration and operations

The firm is issuing 5mln units at 10 cents each, with each unit consisting of a share and a share warrant
Avrupa Minerals set to bring in $500,000 for exploration and operations
Some of the proceeds may also be used for due diligence on potential acquisitions

Project generator Avrupa Minerals Ltd (CVE:ARU) is set to raise $500,000 via a placing to use on exploration and operations in Portugal and Kosovo.

The firm is issuing 5mln units at 10 cents each, with each unit consisting of a share and a share warrant, enabling the holder to buy one share at 15 cents for three years from closing.

Some of the proceeds may also be used for due diligence on potential acquisitions, Avrupa added.

Paul Kuhn, the group's president and chief executive, said: "Now that we have successfully consolidated the Alvalade copper-zinc project, we have work to prepare for the next stage of drilling.

"In addition to downdip possibilities at Sesmarias, we already have a number of compelling targets in the immediate surrounding sectors at Sesmarias, as well as drill-ready targets at Monte da Bela Vista (10 kilometres north of Sesmarias) and in the Pombal area (15 kilometres south of Sesmarias). We are actively engaging potential partners for the opportunity to joint venture into the project."

it is expected that drilling at the Alvito iron-oxide copper gold project in Portugal  will begin later this year,

Drilling at the Slivovo gold project in Kosovo is well under way, with assays expected this summer.

The company's partner on the Covas tungsten project in northern Portugal has also decided to complete a small drill program this year, and further details will be announced on that project.

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