SAN FRANCISCO, CA–(Marketwired – May 01, 2017) – Avrupa Minerals Ltd. (TSX VENTURE: FWB) a prospect generator active in Europe, has closed a financing and announced that it has optioned the Alvito project in southern Portugal.
Company included in article: Avrupa Minerals Ltd.
Avrupa Minerals announced on April 20 that it had closed a financing via a private placement, raising $225,000 through issuing 2.5 million common shares at $0.09 per share. In an April 11 announcement, the company noted that the proceeds of the offering “will be used for exploration and operations in Kosovo, Portugal, Vancouver and for general and administration costs.”
Paul Kuhn, Avrupa’s president & CEO, commented on April 11 that “with our new partner in Portugal funding the Alvito IOCG exploration, and our partner in Kosovo funding a large drill program at the Slivovo gold project, our costs in those locations are low. These new funds will cover costs to advance our other key projects.”
In March, the Portuguese Mining Bureau approved a 30-month extension to the Alvito exploration license, covering around 300 square kilometers of prospective ground along the “Alcaçovas copper-gold trend identified by Avrupa geologists in 2011-12.” The company stated that “subsequent field work was successful in identifying potential for significant copper-gold-silver mineralization in known and several new occurrences.”
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