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Avrupa Minerals making good progress at Alvito project in Portugal

Last updated: 14:14 23 Jan 2018 EST, First published: 04:14 23 Jan 2018 EST

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Pictured - Portugal

Avrupa Minerals Ltd's (CVE:AVU) continues to make good progress at the Alvito project in Portugal, where many new targets have been generated.

So far, the company has completed ground magnetics and gravity geophysical surveys, geological mapping, rock-chip sampling, and drill targeting at the iron oxide copper-gold property.

READ: Avrupa Minerals continues to make progress in Kosovo and Portugal

Notably, a 1,500m drill program was planned to be completed in the third or fourth quarter of 2017 but continuing ground exploration work continued to the end of the year.

Successful targeting means the drilling program may now run to between 2,000 and 2,500 meters, the firm said.

Among the highlights from recent rock chip sampling is 29,500 ppm (parts per million) copper at the Mata target and 1.475 ppm gold at Montedo Outeiro.

The exploration is being financed by Oz Minerals, which must spend A$1mln to earn-in 51% of the project.

"With the financial and technical support of our partner Oz Minerals, we have made real progress in the Alvito project area," said Paul W. Kuhn, president and chief executive of Avrupa.

Field targeting to continue

"This is probably the first, truly systematic exploration of the area, and results of the first and second pass exploration work demonstrate the potential for copper and gold mineralization in a number of areas.

"Field targeting will continue until expected startup of drilling around the end of March, or end of the rainy season."

Project generator Avrupa currently holds nine exploration licences in three European countries, including six in Portugal covering 3,271 sq km, two in Kosovo covering 47 sq km and one in Germany covering 307 sq km.

Avrupa is currently upgrading precious and base metal targets to "joint venture ready" status in a variety of districts on its licences.

Shares were unchanged in Toronto at C$0.065.

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