Avrupa Minerals Arranges $500,000 Private Placement
June 26 2017 - 4:15PM
Avrupa Minerals Ltd. (AVU:TSXV) is pleased to
announce that it has arranged a financing to raise $500,000 by way
of a private placement of 5 million units at $0.10 per unit. Each
unit (a “Unit) is comprised of one common share and common share
purchase warrant which entitles the holder to purchase one common
share at a price of $0.15 for a period of three years from closing
of the offering.
The proceeds of the offering will be used for
exploration and operations in Portugal, Kosovo, and Vancouver, and
for general working capital. Some of the proceeds may also be used
for due diligence reviews of potential acquisitions. Insiders will
be participating in the offering.
Paul Kuhn, President and CEO, commented, “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 down
dip 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 km north of Sesmarias) and in the Pombal area (15 km south of
Sesmarias). We are actively engaging potential partners for
the opportunity to JV into the Project.”
The Company is currently upgrading information
on the Alvalade Project webpage at www.avrupaminerals.com.
The geophysical survey is now in progress at the
Alvito iron-oxide copper gold project in Portugal.
Based on results, it is expected that drilling at Alvito will
commence later this year.
Drilling at the Slivovo gold
project in Kosovo is well underway, with assays expected to be
reported later this summer.
Our partner on our 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.
Avrupa continues to look to acquire projects in
current and new jurisdictions which can be easily and rapidly
advanced.
Avrupa Minerals Ltd. is a
growth-oriented exploration and development company focused on
discovery, using a prospect generator model, of valuable mineral
deposits in politically stable and prospective regions of Europe,
including Portugal, Kosovo, and Germany.
The Company currently holds nine exploration
licenses in three European countries, including six in Portugal
covering 3,271 km2, two in Kosovo covering 47 km2, and one in
Germany covering 307 km2. Avrupa now has three active option
and joint venture agreements, two in Portugal and one in Kosovo,
including:
- The Alvito Option Agreement with OZ Minerals
Limited covering one license in the Ossa Morena Zone in southern
Portugal, for IOCG deposits;
- The Covas JV, with Blackheath Resources,
covering one license in northern Portugal, for intrusion-related W
deposits; and
- Avrupa’s partner at the Slivovo Gold Project
in Kosovo is fully funding the program, allowing Avrupa to dilute
its ownership in the JV operating company Peshter Mining JSC.
If AVU ownership goes below 10%, the interest in the project
converts to a 2% NSR.
- In addition, in the Iberian Pyrite Belt of south Portugal, the
Company has 100% ownership of the Alvalade VMS
Project where previous partners have spent over US$ 7.6
million on exploration for VMS copper, zinc, and lead,
mineralization, resulting in discoveries at Sesmarias and Monte da
Bela Vista.
Avrupa is currently upgrading precious and base
metal targets to JV-ready status in a variety of districts on their
other licenses, with the idea of attracting potential partners to
project-specific and/or regional exploration programs.
For additional information, contact Avrupa
Minerals Ltd. at 1-604-687-3520 or visit our website at
www.avrupaminerals.com.
On behalf of the Board,
“Paul W.
Kuhn”
Paul W. Kuhn, President & Director
This news release was prepared by Company
management, who take full responsibility for its content.
Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed
Professional Geologist and a Registered Member of the Society of
Mining Engineers, is a Qualified Person as defined by National
Instrument 43-101 of the Canadian Securities Administrators.
He has reviewed the technical disclosure in this release. Mr.
Kuhn, the QP, has not only reviewed, but prepared and supervised
the preparation or approval of the scientific and technical content
in the news release.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Avrupa Minerals (TSXV:AVU)
Historical Stock Chart
From Oct 2024 to Nov 2024
Avrupa Minerals (TSXV:AVU)
Historical Stock Chart
From Nov 2023 to Nov 2024