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Avrupa Minerals, through its wholly-owned subsidiary, MAEPA Lda., holds 9 exploration licenses in Portugal, spread from the north to the south in the country. Total area under control by Avrupa is approximately 2,980 square kilometers.
The Covas license, located about 100 kilometers north of Porto, Portugal's second largest city, covers known and previously mined tungsten mineralization. The property carries a non NI 43-101 compliant resource of 922,900 metric tonnes of 0.78% WO3. The Covas project is now included in a JV with, and funded by Blackheath Resources Inc. A Phase 2 drilling program is presently underway. The goal of the present drill program is to expand known resources at several of the higher-grade tungsten prospects in the project area. The two companies also continue to explore at the adjacent Arga JV for gold and tungsten.
Three other licenses are located at the northern end of the Portuguese portion of the Iberian Pyrite Belt (IPB). The IPB is historically one of the world's largest and most prolific copper-zinc-iron massive sulfide belts. The Company's IPB licenses are located to the northwest of, and along trend from the giant Neves Corvo copper-zinc-tin massive sulfide deposit, presently being mined by Lundin Mining. Avrupa completed a four-hole scout drilling project in 2010-11 on the Marateca license. Two of the holes intercepted silver-rich stockwork mineralization at the Serrinha location. Two massive sulfide targets at São Martinho and Volta were not reached due to difficult drilling conditions. At least eight more target areas are present in the license area.
The Alvalade, Canal Caveira, and Ferreira do Alentejo licenses were three separate, but contiguous licenses organized into a joint venture project with Antofagasta Minerals. These three licenses have now been amalgamated into a single license, with the validity date extended until the end of 2016. The Company presently operates the JV, and has just completed a third phase of exploratory drilling. In total, during 2012 and 2013, Avrupa drilled 24 holes for a total of 10,966 meters. Holes in the Monte da Bela Vista, Furadouro, Santa Margarida da Serra, Faleiros, and Sesmarias target areas intercepted visible copper mineralization and require further follow-up drilling. Five of the holes contained intervals of greater than 0.3% copper over intervals from 1 to 22 meters in width. The drill targeting was designed to both explore for massive sulfide deposits and to assist in revising and updating the model for geological and structural control of potential mineralization. Avrupa and AMSA geologists and consultants have successfully devised a new working model for drill targeting in the northern regions of the Pyrite Belt, thus opening up large new areas for possible massive sulfide mineralization within the JV area. Funding and general planning for the next phase of diamond drilling at Alvalade, beginning in early 2014 has been approved by Antofagasta.
The Company controls a large exploration land package in the Ossa Morena Zone, adjacent to the north of the Pyrite Belt. The Alvito permit, covering 988 square kilometers, is prospective for iron oxide copper-gold and porphyry copper-gold systems, volcanogenic massive sulfide targets, and epithermal precious metal prospects.
Finally, The Company explores at three other project areas in the developing North Portugal Au-W Belt. The Sabroso and Arcas licenses have outcropping Au-W mineralization, and there is a formerly-producing silver mine located on the Candedo license. First-pass prospecting work is underway at all three licenses.