Avrupa has been successful in having three partner companies conducting and funding a total of five drill programs on its projects in 2014, including three programs at the Alvalade project, where three recent news releases have announced good drilling intercepts. Avrupa has also benefitted from its exploration alliance with Callinan Royalties by being able to conduct exploration work to upgrade certain 100%-owned projects to a level that generates further interest from potential partners.
Avrupa continues to maintain a low cost structure, and some of the public company administration costs are paid with fees earned by operating the exploration programs for partners on its European projects.
The financing will consist of 2 million Units at a price of
Avrupa currently has 38,973,571 common shares outstanding which will increase to 40,973,571 common shares upon completion of this financing. The core strategic shareholder group continues to hold a significant amount of the shares of Avrupa, including insiders, Callinan, and certain individual investors.
The Company currently holds 14 exploration licenses in three European countries, including eight in
-- The Alvalade JV, with Antofagasta, covering one license in the Iberian Pyrite Belt of southern
Portugal, for Cu-rich massive sulfide deposits; -- The Covas JV, with Blackheath Resources, covering one license in northern Portugal, for intrusion-related W deposits; -- The Slivovo JV, with Byrnecut International, covering one license in central Kosovo, for gold and base metals related to carbonate-hosted massive sulfide deposits in the Vardar Mineral Trend; and -- The CalGen Exploration Alliance, with Callinan Royalties Corp., covering generative exploration throughout Portugal, and including specific prospect upgrade work on the Alvito IOCG license in southern Portugal.
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
On behalf of the Board,
This news release was prepared by Company management, who take full responsibility for its content.
FOR FURTHER INFORMATION PLEASE CONTACT:
Avrupa Minerals Ltd.(604) 687-3520 (888) 889-4874 (FAX) www.avrupaminerals.com Source: Avrupa Minerals Ltd.