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Avrupa Minerals pulls in big hitter as partner in Portugal
Avrupa Minerals Ltd (CVE:ARU) has pulled in a big hitting partner for its Alvito iron-oxide-copper-gold (IOCG) project in southern Portugal in the shape of Oz Minerals Limited (ASX:OML)
The Aussie-listed heavyweight can up earn up to a total 75% interest in the project by spending A$4mln over approximately 2.5 years and 51% by spending A$1mln in year one.
Paul Kuhn, Avrupa’s chief executive, said: “The Oz Minerals exploration team has significant IOCG exploration experience around the world.
“This is Avrupa’s first IOCG target in Portugal, and we look forward to quickly moving the program ahead.”
In 2015, Avrupa, funded by a previous partner, drilled 29 top-of-bedrock core holes in the central Alcacovas target zone.
Twenty-two of these holes intersected visible copper mineralisation, associated with magnetite veining and alteration normally found with IOCG systems
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/176246/avrupa-minerals-pulls-in-big-hitter-as-partner-in-portugal-176246.html
