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Belo Sun Provides Corporate Update

TORONTO, July 30, 2021 (GLOBE NEWSWIRE) — Belo Sun Mining Corp. (“Belo Sun” or the “Company”) (TSX:BSX OTCQX:BSXGF) is pleased to provide…

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TORONTO, July 30, 2021 (GLOBE NEWSWIRE) -- Belo Sun Mining Corp. (“Belo Sun” or the “Company”) (TSX:BSX OTCQX:BSXGF) is pleased to provide a corporate update and respond to recent media released on July 29, 2021.

COVID-19: Belo Sun continues to closely monitor developments around the pandemic with our priority being the health and safety of our employees and our surrounding communities. The Company continues to follow the recommended measures by public health and government authorities. Currently, none of our employees in Brazil or Canada have been diagnosed with the virus.

The COVID-19 situation in Brazil continues to improve as the uptake and distribution of vaccines continue. The State of Para is currently showing declining cases and is mostly in the Yellow Zone classification with the Metropolitan Region of Belém, Marajó Oriental, Tocantins and the Northeast region showing an improved classification of Green Zone.

In the region around the Volta Grande gold project, with the initiative of the State and municipalities, most communities have been vaccinated and the stress on local hospitals is declining.

Indigenous Study: Belo Sun successfully completed and submitted the Indigenous Study (the “Study”) to FUNAI (Fundação Nacional do Indio or Federal Agency of Indigenous Affairs) which was determined to be acceptable (“Apto”) by FUNAI for its presentation to the surrounding Indigenous Communities.

While the current COVID-19 situation has delayed the presentations, Belo Sun has recently submitted health and safety protocols and procedures to safely conduct the meetings and continues coordinating co-operatively with DSEI (Distrito Sanitário Indigena- Altamira- Altamira District for Indigenous Health) and FUNAI on the best process to hold the required meetings and complete the consultation process.

Belo Sun understands and respects that meetings can only be held after the Indigenous Communities safety and health have been fully considered and adhering to all local, state, and Federal COVID-19 protocols and regulations and with respect to the Indigenous people’s land and heritage.

Peter Tagliamonte, President and CEO commented “We are pleased to see the COVID-19 situation in Brazil slowly improve and appreciate how difficult the pandemic has been on everyone. We would also like to acknowledge the great work of the State and Municipal Governments as well as the Belo Sun employees in our region to assist people, implement safety protocols and supply vaccines to the local population. We look forward to an improving situation and consulting in a co-operative and respectful manner with the Indigenous Communities, SESAI and FUNAI to successfully complete the required meetings ensuring all health and safety protocols can be followed”.

Recent Media: As Belo Sun advances in a mindful manner, it understands and respects that there will be differing views on mining projects and there will be strategies to advance these views. We believe the Volta Grande gold project will bring positive benefits to the local communities, Indigenous Communities, municipality and region while also ensuring good environmental compliance, positive environmental opportunities and create broad economic benefits, making it a project worthy of support from all groups.

Contrary to any false claims recently made, Belo Sun has always been committed to accurate and timely disclosure related to all relevant developments in the permitting process for the Volta Grande gold project, including any court judgements or rulings.

Belo Sun confirms that the Environmental Licence (Licença Prévia - LP) and the Construction Licence (Licença de Instalação - LI) for the Volta Grande gold project were previously approved by the Environment and Sustainability Ministry of the State of Para, Brazil (SEMAS). Belo Sun completed an initial Indigenous Study that was submitted and accepted by SEMAS but not initially accepted by FUNAI. The construction licence (LI) was subsequently suspended by the Brazilian Federal Court (Tribunal Regional Federal da 1ª Região – TRF-1). According to the Court order, the LP and LI were acknowledged as being valid but the LI was suspended until an Indigenous Study was completed adhering to FUNAI protocols and consultations with the Indigenous Communities.

The Company followed the judicial ruling in preparing an updated Indigenous Study. In late 2020, FUNAI evaluated the updated Indigenous Study and determined it to be accepted (“Apto”) for the final presentation to the Indigenous Communities. The COVID-19 situation has delayed the completion of this requirement.

The Company understands the impacts of the COVID-19 situation and will only present the Indigenous Study to the Indigenous Communities when it is determined to be safe to do so by the appropriate stakeholders, including the relevant Indigenous Communities, SESAI and FUNAI, while adhering to the required health and safety protocols and COVID-19 guidelines stipulated by SESAI, FUNAI and the relevant local, state and federal governments.

Technical Activities: Belo Sun continues advancing various technical considerations with the objective of continuous improvement to enhance environmental opportunities, operations and costs.

The Company is currently studying a Hybrid Haul Truck option that has the potential to improve productivity and reduce emissions. High pressure grinding and hybridgravity processes are showing opportunities to improve processing costs and functionality. On the geological front, we have been evaluating an in-pit drilling program that aims to upgrade inferred mineral resources found within the current pit into mineral reserves, which management believes has potential to positively impact the Volta Grande gold project. We will continue with exploration sampling and data collection in preparation for a full-scale exploration program once approvals have been received.

These initiatives have the potential to increase the already robust economics of the Volta Grande gold project. Belo Sun is also pleased to have participated with the Para State Government on a vertical integration program to enhance State mineral economic benefits for the people of Pará. Consisting of a planned project to establish a gold refinery operation within the State of Pará and support for local craftspeople involved in the jewelry industry.

Corporate Activities: As the COVID-19 situation improves, Belo Sun will be participating in more mining investor conferences and the Company continues to advance financial discussions with various groups in preparation for determining the best funding solution for the Volta Grande gold project.

About the Company

Belo Sun is a Canadian-based mining company with a portfolio of gold-focused properties in Brazil. The Company is currently focused on the development of the Volta Grande Gold Project. Belo Sun trades on the Toronto Stock Exchange under the symbol “BSX” and on the OTCQX under the symbol “BSGDF”. For more information, please visit www.belosun.com or contact Investor Relations at +1 (416) 309-2137.

Caution regarding forward-looking information:

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Indigenous consultation process; the lifting of the injunction related to the LI; the obstacles and timelines for all relevant permits and approvals related to the Volta Grange gold project; technology and technical initiatives being pursued by the Company; the outlook for the COVID-19 situation in Para State; and prospects of the Volta Grande gold project. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.belosun.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.


Today’s News

Providence Gold Mines Announces McCarthy Mine Results 3.77 Kg Sample Yields 77.0 to 97.0 Grams Gold

 

VANCOUVER – TheNewswire – September 21, 2021 – Providence Gold Mining Inc. (“Providence” or the “Company”) (TSXV:PHD) (OTC:PRRVF) is pleased…

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VANCOUVER – TheNewswire - September 21, 2021 - Providence Gold Mining Inc. (“Providence” or the “Company”) (TSXV:PHD) (OTC:PRRVF) is pleased to report that a 3.77 Kg sample of quartz material taken from the surface at the McCarthy mine yielded gold values of 77.0 to 97.0 grams.

 

Historical records indicate that until 1916 the McCarthy mine produced multi-ounce material over a width of 2 to 3 meters to a depth below surface of less than 60 meters. An underground drift was designed but not followed through on McCarthy gold deposit.

 

Samples were sent to Bureau Vertis in Sparks, Nevada for analysis using FA430 fire assay fusion with AAS finish.

 

The recent exploration program focused on the area surrounding the McCarthy mine. Two trenches were dug with a Spidex excavator some 90-meters south of the mine. One target remains untested due to the steepness of the hillside which exceeded the ability of the excavator.

 

Assaying of samples collected along a 100-meter strike length exposing a lode structure 1.0 to 1.4 meters wide returned anomalous gold values ranging from 400 to 700 ppb. The overall width (10 to 20 meters) and intensity of the alteration bloom (which is mostly in the footwall beneath the 45-to-50-degree NE dipping lode) suggests potential for a high-grade offshoot target at a vertical depth of approximately 90 meters.

 


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Further modeling is currently underway. Once completed we plan to drill 3,000 to 4,000 meters of HQ core within and beneath the historical Providence, Fairplay, McCarthy, Mexican, Consuelo, Goodenough, and Bonita historic high-grade mines.

 

Qualified Personnel:

 

Dr. Lee Groat Ph.D., P.Geo is the Company’s qualified person (as defined under NI 43-101 and has read and approved the technical information contained in this news release).

 

Mark Payne P. Geo is registered in the State of California is working under the direct supervision of Lee Groat P.Geo Q.P.               

Image shown here is the MacCarthy Adit.

About Providence Gold Mines Inc.

 

Providence Gold Mining Inc. is an advanced-stage gold mine exploration and development Company holding an option to purchase 100% interest in the Providence Group of Gold mines near the City of Sonora California.

 

For more information, please contact Ronald Coombes, President and CEO of the Company.

 

ON BEHALF OF THE BOARD

 

"Ronald Coombes"

 

Ronald A. Coombes, President & CEO

Office: (604) 688-8200

Email: info@providencegold.com

 

Wai Akdogu, CCO & Consultant

Phone: (778) 952-2660

Email: media@providencegold.com  

 


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On behalf of Providence Gold Mining Inc.

 

STAY TUNED! VISIT OUR WEBSITE FOR MORE DETAILS

www.ProvidenceGold.com

 

LIKE & FOLLOW @providencegoldmines
Instagram, Facebook, Twitter,  TikTok, Youtube, LinkedIn.

  

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

 

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Providence Gold Mines, budget and timing estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties, are forward-looking statements. Forward- looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward- looking statements. Important factors that could cause actual results to differ materially from Providence Gold Mines expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Providence Gold Mines does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward- looking statements.

 

Neither the 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

Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

Vertical Exploration Stock Rises 14.81% on Encouraging Initial Sales and Marketing Update

VANCOUVER, BC / ACCESSWIRE / September 21, 2021 / VERTICAL EXPLORATION INC. (TSXV:VERT) ("Vertical"or "the Company") is pleased to provide an update regarding…

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VANCOUVER, BC / ACCESSWIRE / September 21, 2021 / VERTICAL EXPLORATION INC. (TSXV:VERT) ("Vertical"or "the Company") is pleased to provide an update regarding its highly encouraging initial sales and marketing efforts for the Company's premium-quality St-Onge Wollastonite.

Since receiving approval for its St-Onge quarry from the various Ministries' in the Government of Quebec in the past week, Vertical, through its distributor Wollammo Distribution Inc. (Wollammo), has already received initial test marketing orders of the Wollammo packaged product from two large Canadian home improvement and garden retail corporations. The Wollammo product, which consists of 100% St-Onge Wollastonite, is a premium grade natural Wollastonite mineral product that helps to increase plant available silicon, calcium and magnesium in soils and enhance plant stress tolerance, increase yields and improve pest management for a variety of agricultural crops. In addition, Vertical and Wollammo have also received numerous on-line sales orders from a range of home, garden and larger agricultural customers wanting to test out and use the St-Onge based Wollammo product on their fall gardens, crops and greenhouse plants.

Peter P. Swistak, President/CEO of Vertical Exploration Inc., commented: "We've gotten off to a fast start since receiving quarry and production approval for our top quality Wollastonite just a few days ago. Our Wollammo distributor is doing a great job responding to the numerous enquiries from all types of large and small Canadian agricultural retailers and growers who want to know more about our premium St-Onge Wollastonite, and place initial product orders as well. We also have plans to begin marketing our Wollastonite product to the many large home and garden retail corporations and agricultural producers in the United States, as it represents a huge market opportunity for our Company. We anticipate providing further updates regarding sales opportunities and our marketing plans for both Canada and the United States in the coming weeks and months."

ABOUT VERTICAL EXPLORATION

Vertical Exploration's mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company's flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.

ON BEHALF OF THE BOARD

Peter P. Swistak, President/CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

Neither the 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.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

SOURCE: Vertical Exploration Inc.



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https://www.accesswire.com/664916/Vertical-Exploration-Provides-Encouraging-Initial-Sales-and-Marketing-Update

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Today’s News

Avrupa Reports New Drill Results and Extends Massive Sulfide Mineralization at Sesmarias North, Alvalade Project, Portugal

 

 

Highlights include:

– SES21-040:  36.45 meters @ 0.72% Copper, 0.36 g/t Gold, 21 g/t Silver, and 0.82% Lead, including:

 

– 11.0…

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Highlights include:

  • - SES21-040:  36.45 meters @ 0.72% Copper, 0.36 g/t Gold, 21 g/t Silver, and 0.82% Lead, including:

 
    • - 11.0 meters @ 1.05% Copper, 0.51 g/t Gold, 39.2 g/t Silver, and 1.64% Lead.

 
  • - SES21-039:  39.2 meters @ 0.44% Copper, 0.71 g/t Gold, 27.1 g/t Silver, 2.07% Zinc, and 0.79% Lead, including overlapping mineralized zones:

 
    • - 17.25 meters @ 1.01 g/t Gold

      - 16.7 meters @ 34.6 g/t Silver

      - 16.7 meters @ 0.58% Copper

      - 9.7 meters @ 1.23% Lead

      - 8.0 meters @ 2.96% Zinc and 7.7 meters @ 3.5% Zinc.

 
  • - SES21-039:  A second significant massive sulfide intercept lower in this hole:  14.8 meters @ 0.45% Copper, 0.29 g/t Gold, and 28.7 g/t Silver.

 

Further highlights include:

 
  • - SES21-039 and SES21-040 extend massive sulfide mineralization for 350 meters to the southeast from the previously-reported SES21-033/036 section;

 
  • - Grades improving to the southeast;

 
  • - 11 drill holes, 5,862 meters completed to date on five sections at SES North and one section in the SES Central sector;

 
  • - Results from 10 holes now reported; results from one hole pending

 
  • - Drilling is underway on a 12th hole at Sesmarias.

 

TheNewswire - September 21, 2021 - Avrupa Minerals Ltd. (TSXV:AVU) (OTC:  AVPMF) (FSE:8AM) is pleased to report that drilling continues to expand and upgrade polymetallic, massive sulfide mineralization at the Sesmarias Copper-Zinc Prospect within the Alvalade Project (Alentejo, Portugal).  The program is a joint venture between Avrupa Minerals and Minas de Aguas Teñidas, S.A. (MATSA) and is operated by Avrupa through the JV entity PorMining Lda.  To date, the Company has completed 11 diamond drill holes on six different fences, totaling 5,862 meters, and is drilling a 12th hole testing potential massive sulfide mineralization on Section 0350S.

 

Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, “With continued drilling in the SES North sector, we have now intersected significant massive sulfide mineralization over 350 meters in strike length to the southeast from previously-reported intersections in SES21-033 and 036.  The SES21-039 intercept is the longest, to date, in the joint venture, and shows improving copper, zinc, and gold grades, as we move south along the strike of massive sulfide mineralization originally discovered in SES008.  The SES21-040 intercept contains the best copper results, to date, with 11 meters of 1.05% copper within a longer interval of polymetallic mineralization.  As we move south towards the SES Central (Discovery) sector, we look forward to the potential of continued improvement of grades.”

  

SES North Results and Sections  

 

To date, the Company completed ten drill holes in the SES North sector during this phase of drilling (SES20-031 through SES21-040), and one further hole in the SES Central sector (SES21-041), totaling 5,862 meters.  The Company reports results for SES21-037 through 040 in this release.

 

Drilling at SES21-042 is now underway on the 350 S section to test for possible mineralization above SES21-040.  Following the completion of SES21-042, the Company plans to drill further on the 350 S section to test for potential downdip massive sulfide mineralization below the SES21-040 intercept.  That hole will be collared approximately 40 meters northeast of the SES21-040 location.

 

Through all phases of drilling and exploration at Sesmarias, the Company has drilled copper-zinc massive sulfide mineralization in various lenses over a strike length of 1.7 kilometers.  Through interpretation of various programs of geophysical work and re-logging of historical drilling in the district, including holes with massive sulfide mineralization present, the strike length for possible massive sulfide mineralization may easily be extended to the north for a further 800-1000 meters.  All indications suggest that potential for further mineralization to the south is open, as well.  For now, the Company will continue to work on extending and upgrading the mineralization at SES North towards the SES Central sector, as well as defining massive sulfide occurrence in the Central sector.

 

Through detailed logging of the new core from this phase of drilling, as well as detailed re-logging of all the Sesmarias area historic core, we have established that the Sesmarias massive sulfide system is heavily folded and strongly modified by several phases of post-mineralization faulting.   However, through all this structural modification, the Company continues to intersect the target mineral horizon in all of the Sesmarias drilling.  The identification and separation of the different lenses of massive sulfide mineralization is strictly related to the location of mineralization on a specific limb of successive and adjacent folds (see sections below).  This supports the previous identification of the 2 Lens, the 8 Lens, the 10 Lens, and others at Sesmarias, as they are situated on different fold limbs and will project to the surface as separate lenses.  This geometry explains the historic situation of the numerous massive sulfide lenses that make up the Lousal deposit, just seven kilometers north of Sesmarias.  We expect a similar targeting story for Monte da Bela Vista, a further 2 kilometers beyond Lousal, as the complicated geology in all three target areas appears to be similar, if not directly related.

 


Click Image To View Full Size

 

Figure 1.  Plan view of Sesmarias North drilling, with drillhole locations and cross section lines.

 

Figure 1a.  Surface expression of the 8 Lens Target Zone (red dashed lines) and projected surface expression of mineralization in the SES North sector.  Drilling is underway on the Section 350 S, where we have discovered a new lens (in purple) for the northern sector with significantly higher copper grade than previous holes in the northern sector.

  

Following is a summary of new results for SES North mineralization from Section 000 to Section 350 S.  Results are reported in order of drilling.

 

Meters

From

To

Cu (%)

Zn (%)

Pb (%)

Au (g/t)

Ag (g/t)

3.9

476.85

480.75

0.28

1.70

0.77

0.48

24.4

Table 1.  SES21-037 intercept information.  Section 000.  Possible bottom of lens on this section.

  

Meters

From

To

Cu (%)

Zn (%)

Pb (%)

Au (g/t)

Ag (g/t)

6.0

356.85

362.85

0.72

       

Incl.

5.0

356.85

361.85

0.64

1.57

0.98

0.6

33.1

And

 

6.25

372.9

379.15

     

0.6

 

2.8

376.35

379.15

0.75

       

Table 2.  SES21-038 intercept information.  Section 070 S.  Overall zone of mineralization defined by mixed stockwork and semi- to massive sulfide material.

 

Meters

From

To

Cu (%)

Zn (%)

Pb (%)

Au (g/t)

Ag (g/t)

39.2

348.0

387.2

0.44

2.07

0.79

0.71

27.1

Gold-Zinc zone

17.25

351.0

368.25

     

1.01

 

Incl.

6.0

351.0

357.0

     

1.58

 

8.0

357.0

365.0

 

2.96

     

Incl.

2.0

363.0

365.0

 

4.7

     

Polymetallic zone

16.7

370.5

387.2

0.53

   

0.51

34.6

Incl.

16.2

363.0

379.2

 

2.85

     

13.7

370.5

384.2

   

1.09

   

Incl.

7.7

370.5

378.2

 

3.5

     

9.7

370.5

380.2

   

1.23

   

8.0

379.2

387.2

0.58

       

Table 3a.  SES21-039 upper intercept information.  Section 120 S.  Longest intercept, to date, in this phase of drilling.  Contains overlapping zones of Au-Zn and polymetallic mineralization.

  

Meters

From

To

Cu (%)

Zn (%)

Pb (%)

Au (g/t)

Ag (g/t)

14.8

419.0

433.8

0.45

 

0.59

0.29

28.7

Incl.

2.8

431.0

433.8

0.7

       

2.0

423.0

425.0

   

1.42

   

1.0

430.0

431.0

   

1.24

   

Table 3b.  SES21-039 lower intercept information.  Section 120 S.

  

Meters

From

To

Cu (%)

Zn (%)

Pb (%)

Au (g/t)

Ag (g/t)

36.45

479.4

515.85

0.72

 

0.82

0.36

21.0

Incl.

Best overall zone

4.0

485.4

489.4

1.32

 

3.86

0.67

71.4

And

Best copper zone

11.0

483.4

494.4

1.05

 

1.64

0.51

39.2

And

 

2.0

509.4

511.4

1.38

 

1.82

   

And

Additional zinc zone outside of main zone

8.05

510.4

518.45

 

0.72

     
 

Table 4.  SES21-040 intercept information.  Section 350 S.  Long intercept contains best copper results, to date, in this phase of drilling.  Copper grades appear to increase towards the south.

       

Following are the summary cross sections for 8 Lens mineralization in the Sesmarias North sector.  Further information will be posted on the Avrupa Minerals website.

 


Click Image To View Full Size

 

Figure 2.  Section 000:  Simplified geological section, showing massive sulfides and stockwork zone in SES008, SES21-033, SES21-036, and SES21-037.   While the section shows the apparent bottom of the 8 Lens, further work to potentially open up the mineral horizon below SES21-037 and expand downdip will be contemplated in the future.  However, at this time, new drilling will be concentrated towards the south where copper and zinc grades appear to be rising and the size of the lens appears to be increasing.


Click Image To View Full Size

 

Figure 3.  Section 070 S:  Simplified geological section showing location of massive sulfides in SES21-038, as well as SES20-031 crossing the top of the Lens 8 pod.  Targeting for further mineralization on this section clearly lies downdip from the SES21-038.

   


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Figure 4.  Section 120 S:  Simplified geological section showing two intercepts of massive sulfide mineralization in SES21-039.  Intercepts appear to lie in separate limbs of ancillary folding on the northeast limb of the main syncline identified in the SES North sector drilling during this phase of the program.  Results, combined with those of SES21-038 (above) and SES21-040 (below) suggest potential vectoring to the southeast at SES North towards higher grade copper and zinc mineralization.

   


Click Image To View Full Size

 

Figure 5.  Section 350 S:  Simplified geological section, showing massive sulfides and stockwork zone in SES009 and SES21-040, along with ongoing drilling at SES21-042, represented by a dashed line.  The Company plans to aim for a depth of approximately 600 meters for 042.  The hole intercepted strong mineralization on the southwest limb of the main syncline for the first time in the northern sector at Sesmarias.

 

The continuing work program is fully funded by Minas de Aguas Teñidas, S.A. (“MATSA”).  MATSA can initially earn a 51% interest in the Alvalade Experimental Exploitation License property by completing funding requirements set out in the joint venture agreement between the companies. MATSA may then increase their interest in the Project to 85% by preparing a bankable feasibility study.  Avrupa previously described the details of the agreement in news releases dated October 1, 2019 and November 20, 2019.

 

Minas de Aguas Teñidas, S.A. (MATSA) is a private Spanish mining company, which owns and operates three mines in the province of Huelva (Andalusia, Spain):  Aguas Teñidas, Magdalena, and Sotiel.  MATSA also holds 1,312 km2 of exploration permits in the south of Spain and 1,106 km2 in Portugal. Focused on innovation and the most advanced technology to develop modern and sustainable mines, MATSA is a 50:50 joint venture company of Mubadala Investment Company, a sovereign investor managing a global portfolio aimed at generating sustainable returns for its shareholder, the Government of Abu Dhabi, and Trafigura, one of the world’s leading commodity trading houses.

 

Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model.  The Company holds one 100%-owned license in Portugal, the Alvalade VMS Project, now optioned to MATSA in an earn-in joint venture agreement.  Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal and Kosovo.  The Company continues to seek and develop other opportunities around Europe.

 

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.

 

Information about the Lousal Mine comes directly from published academic documents prepared by the geological survey of Portugal (LNEG), theses from the University of Lisbon, private company documents authored by mine geologists employed at one time by the Lousal Mine, and copies of original mine records.  The information is considered accurate, but NOT compliant to present-day NI 43-101 regulations and standards.

 

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.

Copyright (c) 2021 TheNewswire - All rights reserved.

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