‘Strong interest’ in Avrupa’s Iberian Pyrite Belt project
JOHANNESBURG (miningweekly.com) – Having recently recovered full ownership of the Alvalade copper/lead/zinc project in the Iberian Pyrite Belt of southern Portugal, exploration and development company Avrupa has said it is open to finding new partners for the project.
The company has assembled a data set for potential partners to review and reported this week that interest in the project was strong.
Avrupa, which trades on the TSX-V, last month regained 100% ownership of the project, after two former partners agreed to return their combined 60% ownership of the project. Avrupa has written off one partner’s debt of about €160 000 and has agreed to future success-based payments to the initial partner on the project.
These payments include a €75 000 deposit, a cash payment of $250 000 on the filing of an initial National Instrument (NI) 43-101-compliant resource estimate meeting certain minimum criteria, staged cash payments totalling $1-million on the completion of a NI43-101-compliant feasibility study meeting certain minimum criteria, and staged cash payments totalling $3-million when commercial production starts.
Previous partners have spent over $7.6-million on exploration for volcanogenic massive sulphide copper, zinc and lead mineralisation, resulting in discoveries at Sesmarias and Monte da Bela Vista.
Avrupa holds nine exploration licences 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 has three active option and joint venture (JV) agreements, including an option agreement with Australia’s Oz Minerals at the Alvito project, southern Portugal, a JV with Blackheath Resources at the Covas project, in northern Portugal, and a JV at the Slivovo gold project, in Kosovo, where the company’s partner is fully funding the programme.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation