Mineral Resource Estimate And Work Plan For Slivova Gold Project

VANCOUVER - Avrupa Minerals Ltd. that the Slivova Gold Project in Kosovo, Western Tethyan Resources (WTR), has a new Mineral Resource Estimate and general near-term work plan for the gold-silver deposit.  Slivova is located in the prolific Vardar Mineral Trend, about 30 km SE of the capital, Pristina.  WTR can earn-in to 75% of the Project by funding exploration and development for Euro 1,800,000 over three years, and then a further 10% by making certain milestone and success payments, producing an Environmental Impact Statement, delivering a Feasibility Study, and completing a Mining License application.

Paul W. Kuhn, President and CEO, said, “We are truly excited about this new development in the progress of the Slivova Project, and look forward to continued success in the program.  WTR and its associated company, Ariana Resources, are working hard to advance the Project to the next level.  We expect further information concerning progress, as the two companies work to complete a Preliminary Economic Assessment for Slivova in the coming months and begin a 4,500-meter drilling program to further define the Slivova deposit and test other attractive, previously-identified possibilities around the license.”

Kerim Sener, Managing Director, reported, “We are very pleased to provide a substantial resource update on the Slivova Gold Project in Kosovo.  With a Measured and Indicated Resource of 146,000 oz of gold and 546,000 oz of silver, and an Inferred Resource of another 30,000 oz of gold and 100,000 oz Ag in global resources now defined, Slivova is now well on track to be developed conceptually as a high-grade, open-pit and underground mining operation. We are increasingly confident that further resource expansion will occur as exploration proceeds at the site in the upcoming years.  Several exploration targets in the immediate vicinity require follow-up and drill-testing, and the broader project area contains significant exploration potential for similar mineralisation based on the latest regional BLEG stream-sediment results.

We are firmly in the planning stage for a new drilling programme at Slivova, which will be focused in part on resource infill and extensional drilling.  We are targeting a minimum resource of 200,000 oz of gold prior to the initiation of more advanced project development work, which would include more advanced studies.”

The Slivova gold and silver deposit, consists of intrusive-related, stratiform massive to disseminated gold-bearing and base metal mineralogy hosted in Cretaceous-aged calcareous sediments. The mineralisation occurs as disseminated to massive replacement of calcareous sandstone to pebble conglomerate and minor replacement of limestone, associated with pyrite, pyrrhotite, arsenopyrite, and base-metal sulphides. Lithological control and structural features appear to have played a major role in focusing the alteration and mineralisation, both as fluid pathways and fluid retardants.

Mineral Resources have been estimated for the Slivova deposit (Peshter Target) only. No Mineral Resources have as yet been declared for other targets within the Slivova Project, such as Dzemajl, Valiaviste and Brus. The estimated Mineral Resource for Slivova is reported in accordance with CIM Definition Standards, comprising of an anticipated open-pittable portion and an anticipated underground extraction portion reported above appropriate cut-off grades reflecting each anticipated mining type. Identification of material which has a reasonable prospect of eventual economic extraction is supported by existing metallurgical test work and an ongoing Preliminary Economic Analysis by Bara Consulting Ltd of the UK.  

Mineralisation and block models for the Mineral Resource Estimate were informed by data from 62 surface drillholes over a total of 6,640m performed between 2014 and 2018 by the previous explorer, Innomatik Exploration Kosova (IEK). The hole spacing for the deposit is approximately 15m north by 15m east in the core of the deposit, extending to 30m north x 30m east towards the edges (Figure 2). Sample spacing and distribution are considered sufficient to establish the geological and grade continuity required for modelling and resource estimation. Gold and silver have been estimated as mining products, with no by-products or deleterious elements modelled.

All of the drill holes used to define the Slivova Project have been drilled using diamond core drilling techniques in HQ, NTW and NQ diameter core sizes. All diamond drill core is processed in the Company’s core shed, near the Slivova Project. Initially, all sample preparation occurred at the ALS Group sample preparation facility at Rosia Montana, Romania and then at ALS in Bor, Serbia.  Drill-core samples from the drilling programmes at Slivova were cut in half by a diamond saw and sent for analysis in batches in line with the Company's quality control procedures.