In Stepember, Avrupa Minerals (AVU.V) released the assay results of four more holes drilled on the Sesmarias project in Portugal, where joint venture partner MATSA (which is in the process of being acquired by Sandfire Resources (SFR.AX) is earning a majority stake.
Two holes, 39 and 40, contain the most important mineralization. Hole 39 intersected 39.2 meters of 0.44% copper, 0.71 g/t gold, 27.1 g/t silver and just under 3% ZnPb with some higher grade intervals in the separate gold-zinc and polymetallic zones.
Hole 40 was equally interesting with 36.45 meters containing 0.72% copper, 0.36 g/t gold and 21 g/t silver with 0.82% lead as additional ‘kicker’. This includes an area of 4 meters containing 1.32% copper, 3.86% lead, more than 2 ounces of silver per tonne of rock as well as 0.67 g/t gold within a thicker interval of 11meters containing 1.05% copper and 1.64% lead (with some additional precious metals credits like 0.51 g/t gold and 39.2 g/t silver).
As of the time of the press release, the joint venture had completed 11 holes for almost 6,000 meters and the total amount of meters and holes drilled has obviously increased by now as hole 42 was in the process of being drilled and Avrupa confirmed it would continue to drill further on the 350S section to test for potential downdip massive sulphide mineralization and the drill rig will be positioned about 40 meters northeast of where hole 40 was drilled.
Avrupa seems to be genuinely pleased with the drill results, and CEO Kuhn notices the mineralized interval in hole 39 is the longest interval encountered by the joint venture and it shows higher grades as the drill program moves further south. It will be interesting to see if the future holes, which will be drilled further towards the south, will continue to see the base and precious metals grades pick up.
Disclosure: The author has a long position in Avrupa Minerals. Please read our disclaimer.
