European Prospect Generator

Transcription

1 European Prospect Generator Marateca JV Opportunity Portuguese Pyrite Belt

2 Forward Looking Statements Some of the statements contained in this presentation are forward-looking statements. Forwardlooking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control, including, but not exclusively, statements regarding potential mineralization, exploration results, completion of work program and studies, and future plans and objectives of the Company. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production. This presentation does not constitute an offer of the securities described herein. Qualified Person: Mr. Paul W. Kuhn, M.S., C.P.G., has acted as the qualified person as defined in National Instrument for this disclosure and supervised the preparation of the technical information in this release. 2

3 Project Generation in Portugal 8 licenses: 2532 km 2 2 Joint Ventures: Alvalade JV (Antofagasta Minerals) Covas JV (Blackheath Resources) Caveira Mine, Alvalade JV 3

4 Pyrite Belt Southern Portugal Northern Belt Aljustrel Belt Neves Corvo Belt Well-positioned in the northern Pyrite Belt 4

5 Pyrite Belt Southern Portugal Alvalade Joint Venture with Antofagasta Minerals SA Includes Alvalade, Canal Caveira, and Ferreira do Alentejo licenses Approximately 1000 km 2 in area; +85 line km prospective belts Initial Study concentrated on hard targets at Aldeia dos Elvas, Monte de Bela Vista, and Azinheira dos Barros outcropping sulfide mineralization, old mine workings discovered Regional geochemistry and gravity show new, additional targets Up to 6,000 meters drilling planned for 2012 Drilling at Marateca: 4 holes, 1222 meters Intersected silver-rich stockwork mineralization at Serrinha 2 massive sulfide targets remain untested at São Martinho and Volta 9 other target areas on license 5

6 12 mostly untested target areas at Marateca (Avrupa drill locations in purple) 6

7 216.6 km 2 license area located at northernmost extension of the Iberian Pyrite Belt License covers potential extensions of three mineralized belts Neves Corvo trend Aljustrel trend Northern trend Several windows of exposed Devonian VS target package rocks on the license Serrinha window Cordoeira window Moita window Palma window (possible) Vela and Serra do Loureiro windows (possible) Numerous poorly-tested or untested targets Partial drill success at Serrinha target; did not reach the São Martinho or Volta drill targets in the Serrinha window 7

8 Geology of the Serrinha, Cordoeira, and Moita windows at Marateca 8

9 Serrinha window has received most attention, including mapping, geochem, and geophysical follow-up Strong multi-element geochem anomaly in zone of silicified, pyritic VS package rocks Several old manganese prospects on Serrinha hill Strong coincident IP anomaly Two drill holes at the Serrinha IP anomaly cut Ag-rich, sulfidic stockwork zone total of 513 meters drilled Best sludge sample ran 77.6 ppm Ag; 17.7 ppm Ag over 33 meters Quartz vein material ran 48.7 ppm Ag over 33 meters Poor recovery 9

10 Copper in soils, Serrinha Window at Marateca 10

11 Zinc in soils, Serrinha Window at Marateca 11

12 IP-Resistivity drill target, Serrinha Window at Marateca 12

13 Serrinha window has received most attention, including mapping, geochem, and geophysical follow-up Detailed re-mapping at the Serrinha site showed continuity of silica exhalite and cherty units Re-thinking of the targeting, based on recent mapping suggests several new drill targets at Serrinha hill 13

14 Revised 5K conceptual Serrinha geology at Marateca 14

15 Revised 5K conceptual Serrinha cross section at Marateca 15

16 São Martinho and Volta drill holes did not reach target gravity and IP anomalies due to difficult drilling conditions total of 709 meters drilled Lost São Martinho hole in clayey fault zone at 400 meters, after passing through hanging wall Culm-equivalent (?) turbidites Target depth was meters Lost Monte de Volta hole in sheared, pyritic black shales at 309 meters Palynological dating indicated an age of slightly older than the most common time of Pyrite Belt mineralization Target depth was meters 16

17 Conceptual São Martinho and Volta drill targets, Serrinha Window at Marateca 17

18 Other target areas on the Marateca license include: The Bica gravity anomaly ready to drill Cordoeira window needs detailed mapping, sampling to prepare for drill targeting Vela, Palma, Serra do Loureiro ground geophysical followup necessary for drill targeting Moita window needs detailed mapping, sampling, and ground geophysical follow-up for drill targeting Pego do Altar needs complete follow-up program 18

19 Large gravity anomalies at Marateca 19

20 Chargeability and Resistivity over Bica gravity anomaly at Marateca 20

21 IP-Resistivity pseudosections over Bica gravity anomaly at Marateca 21

22 Anomalous copper geochem in the Pego do Altar target area at Marateca 22

23 Anomalous zinc geochem in the Pego do Altar target area at Marateca 23

24 Avrupa is looking for a serious partner to help bring the project to the next level Good land position Attractive target areas Avrupa drilling showed potential for mineralization at Serrinha Re-mapping upgrades Serrinha target Still viable drill targets at São Martinho and Monte de Volta Drill target at Bica gravity anomaly No other available land in the Pyrite Belt at this time Excellent government relations Ability to obtain exploration license period extension 24