Avrupa Minerals holds three exploration licenses, Marateca, Santa Margarida do Sado, and Alvalade in the northern extension of the Iberian Pyrite Belt (IPB) in Portugal.  Total area covered in the three licenses is approximately 2,186 square kilometers, making Avrupa one of the largest concession holders in the northern Portuguese Pyrite Belt, north of the Messejana Fault.  The concessions cover extensions of the three main sub-parallel mineral belts in the IPB (continuing from the east near Seville, Spain to the west and northwest in Portugal) plus the newly-recognized Santa Margarida da Serra belt.  These mineral belts contain some of the world’s largest volcanogenic massive sulfide (VMS) deposits, including Rio Tinto (> 290 Mt contained sulfide material), Neves-Corvo (> 270 Mt), Aljustrel (> 230 Mt), Los Frailes-Aznocollar (> 110 Mt), Tharsis (> 100 Mt), La Zarza (> 100 Mt), and Sotiel-Migollas (> 100 Mt).  The entire IPB reportedly contains at least 85 known VMS-style deposits with a bulk tonnage of close to 2 Billion metric tonnes contained sulfide material.

Avrupa also holds the Mertola license, located at the east end of the Portuguese portion of the Pyrite Belt, covering the old São Domingos Mine, as well as numerous other prospect areas along the northernmost target belt in Portugal, the São Domingos Belt.  The license covers 763 square kilometers.  Work is continuing on the license, with data compilation and re-logging of historic core from within the license boundaries.  From this basic work, The Company has identified several drill targets at the old Chança Mine, north of São Domingos.  Avrupa is actively engaged in attracting a JV partner for this license.

Starting in 2012 and continuing through to June 2017, the Alvalade license was joint ventured out to two different partners.  Avrupa remained the JV Operator throughout this period, managing the exploration programs.  Partners contributed over US$ 7.6 million to the project.

On February 27th, 2014 Avrupa announced discovery of massive sulfide mineralization at the Sesmarias target area, about eight kilometers south of the old Lousal Mine.  The intercept of 7.95 meters of massive sulfide and 2.90 meters of semi-massive/stockwork sulfide mineralization, totaling 10.85 meters, carries metal values of 1.81% copper, 2.57% lead, 4.38% zinc, 0.13% tin, 0.075% cobalt, and 75.27 ppm silver.  This is the first greenfields massive sulfide intercept in the Iberian Pyrite Belt since the discovery of the Las Cruces deposit in Spain in 1994.  Several other massive sulfide zones have now been identified over a 1.8 kilometer strike length at Sesmarias.  The Company also discovered a large mineralized stockwork zone just three kilometers north of Lousal.  Total drilling overseen by Avrupa during the joint venture period stands at 54 drill holes and approximately 21,121 meters of drilling within the Alvalade license block.

On March 5, 2018, Avrupa announced that it had signed a LOI with a subsidiary of an international mining company to option out the Alvalade, Marateca and Mertola licences. The funding partner will provide a first stage earn-in amount of 13 million euros (approximately C$20.3 million) for exploration programs over the next three years to acquire a 51% interest in the projects.


The amount of historic exploration in the northern part of the IPB diminishes to the north, as the total exposure of surface outcrop of the favorable host rocks for volcanogenic massive sulfide deposits lessens.  The post-Paleozoic cover, as well as structural cover, have made exploration for blind VMS deposits more difficult and more costly, although the Geological Survey of Portugal (now called LNEG) discovered the Lagoa Salgado VMS deposit in 1992 under more than 100 meters of post-Paleozoic cover.  Importantly, although Avrupa’s Marateca license lies nearly 30 kilometers north of Lagoa Salgado, and is mostly covered by post-Paleozoic material, there is a large exposure of favorable Paleozoic host rocks, called the Serrinha window, located in the center of the property.  Surprisingly, the Serrinha window had not been systematically explored until acquisition by MAEPA in 2008.  In 2011, Avrupa drilled a small 4-hole exploratory program in the Serrinha window.  Two holes intersected stockwork sulfide and quartz mineralization, and two holes that targeted possible massive sulfide mineralization did not reach target depths due to difficult drilling conditions.  Since that time, Avrupa has recognized at least ten other potential target areas within the license block.  During the 2013 field season, the Company discovered an outcropping gossan zone in the Pego do Altar target area and exposed copper mineralization in the Cordoeira target area.  The Company completed two short stratigraphic test holes in 2016 at Pego Do Altar.  Drilling confirmed downdip continuation of the mineralized zone, located in the proper target stratigraphy.  In addition, The Company has also completed a 3-line ground-based gravity survey over the Pego do Altar target area.  Results are pending.  Avrupa is actively engaged in attracting a partner for joint venture.