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Avrupa Minerals continues drilling at Alvalade project as it closes second tranche of financing

Each unit consisted of one share and one share purchase warrant, the company told investors.
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The funds are going towards the Alvalade copper-zinc VMS (volcanogenic massive sulphide) project in Portugal

Prospect generator Avrupa Minerals Ltd (CVE:AVU) said it had closed the second tranche of a previously announced placing, bringing in $232,000

The company issued 4.64 million units and the total raised in the financing was $732,000.

READ: Avrupa Minerals set for $1.5 million financing to advance Alvalade project

Each unit consisted of one share and one share purchase warrant, which allows the holder to buy a further share until December 17, 2021, at $0.10  a throw.

The funds are for the Alvalade copper-zinc VMS (volcanogenic massive sulphide) project in Portugal, where drilling is continuing.

The company has completed two holes and is currently partway through the third hole, it said.

Avrupa is planning two additional holes. All five are in the Sesmarias discovery area.

The aim of the work is to expand the currently known mineralized areas and to outline higher-grade copper-zinc mineralization within the massive sulphide lenses.

Avrupa is focused on politically stable and prospective regions of Europe, including Portugal, Kosovo and Germany.

Avrupa shares are unchanged in Toronto at $0.06.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

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