Several weeks after Avrupa Minerals (TSXV:AVU)(OTC:AVPMF) announced the acquisition of four exploration properties in Finland, the company was happy to finally announce a significant drill result at the Sesmarias target, part of their flagship Alvalade project in Portugal. As they were looking for large mineralized intercepts for almost two years now, scanning the complex folded structure stepping out hole by hole, management was delighted to finally hit a mineralized intercept of no less than 113.8m in total.
After a year of slow progress for Avrupa Minerals (TSXV:AVU)(OTC:AVPMF) and JV partner MATSA at the Sesmarias target, part of their flagship Alvalade project in Portugal, it is refreshing to see Avrupa somewhat diversifying away by acquiring four exploration properties in Finland, with some of them even having a historic resource.
It has been a long wait before Avrupa Minerals (TSXV: AVU) was able to report new drill results at its Sesmarias 8 Lens target at the flagship copper-zinc Alvalade project in Portugal, operated by Avrupa and MATSA in a JV, but it finally did so at June 9, 2021.
After Avrupa Minerals (TSXV: AVU) commenced drilling last December at its Sesmarias target at the flagship copper-zinc Alvalade project in Portugal, which is operated together with JV partner MATSA (joined company of Trafigura and Mubadala, two commodity giants), the company completed two drill holes so far for 874m of drilling, part of the 7-8,000m program.
Despite being a hybrid prospect generator, meaning self-funding projects and also being funded by JV partners, Avrupa Minerals (AVU:TSXV) (US OTC:AVPMF) (FRANKFURT:8AM) has been trying for a long time, and finally succeeded in signing a non-binding Letter of Intent (LOI) on October 1, 2019 for a nice JV deal over their Alvalade project in Portugal, with a Spanish private mining company called MATSA, owned in joint venturebetween juggernauts Mubadala and Trafigura.