Avrupa Minerals, manager of the Slivovo Joint Venture gold-bearing gossan project in Kosovo, has announced that JV partner, Byrnecut International, is to continue funding Stage 1 exploration, in order to vest into 51% of the project. BIL must spend a further €640,000 to reach the vesting level, and will fund continuing exploration, including the upcoming 2,000 m drilling program at Slivovo.
Byrnecut is the global provider of mining services including mechanised underground mine feasibility, mine development, and mine production. This includes shaft sinking, shotcreting, raiseboring, the provision of high quality equipment rebuilds, maintenance engineering, labour hire and training for the mining industry, as well as mine engineering consultancy services.
Work on the project has continued throughout the summer, and new targets around the Pester gossan zone have been identified. The gossan zone has been extended to the southwest by over 300 m, and the so-called epithermal zone, located further to the west, has been extended northwards by several hundred metres. Geological work continues in the northern epithermal zone, as well as other targets on the license. Mapping and sampling indicate that the entire Pester mineral target area is likely related to a buried porphyritic intrusion.
The mineralisation zone runs for over 1,000 m along an ENE-trending corridor from the epithermal target (olive) to the sandstone gossan (orange) to the sulphide-oxide gossan (black). The epithermal zone now runs for over 800 m, north-south. Following well known models of mineral deposits related to porphyry systems, the various targets at Pester fall into a generalised model that hypothesises the presence of a buried porphyry system, which has been long-suspected for the area. The schematic diagram below shows the possible locations of the mineral target zones, with a model of planned drilling (in green). Planning for the upcoming drill program is well underway, with collar locations already sighted to test all three target zones. The plan at the moment is for eight drill holes totaling 2,000 m. Drilling is slated to commence around the September 25.
Paul Kuhn, President and CEO of Avrupa Minerals, stated: “We are extremely pleased by Byrnecut’s decision to continue with the project. Results have been positive for all of our targeting work at Pester this summer. We have expanded the target area, and we have constructed an exploration targeting model that hangs together for the prospect. We expect to drill eight holes and 2,000 m at all three zones, and we should also have a new target area at the north end of the epithermal zone.”
