Alvalade Concession and Sesmarias Project
First greenfields massive sulfide intercept in the Iberian Pyrite Belt since the discovery of the Las Cruces deposit in Spain in 1994.
Alvalade Concession and the Sesmarias Project
The Alvalade Concession Project (902 km2) is located in the Alentejo region of southern Portugal, approximately 80km southeast of Portugal’s capital of Lisbon. The concession is focused on the volcanics and sedimentary sequences that were formed along with black smoker polymetallic hyrothermal vents. These vents are the source for the extensive metal deposits found throughout the pyrite belt forming many of the largest copper deposits in the world. The belt is approximately 250km in length with at least four sub-belts, two possibly three of these belts can be found within the concession. The belt stretches from Seville, Spain to just north of the Alvalade concession area. Withing the concession there are seven zones for exploration. One of the zones, Sesmarais, is the location for the VMS discovery made on February 27th, 2014 by Avrupa geologists. A total of fourteen drill holes were completed with joint venture funding from Antofagasta Minerals SA (AMSA). An intercept of 7.95 meters of massive sulfide and 2.90 meters of semi-massive/stockwork sulfide mineralization, totaling 10.85 meters, carried 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. The Joint Venture completed 28 diamond drill holes and close to 12,250 meters of drilling within the JV license block. Duye to funding restrictions and ownership of more advanced projects elsewhere, Antofagasta decided to end the exploration at Alvalade. Colt Resources immediately saw the opportunity in the discovery and took the challenge and resumed the work. Colt is now in the planning stage for the next drilling campaign with drilling to commence in November.
- Q4 2014 – Avrupa/Antofagasta Drilling Campaign. (Completed)
- Q4 2015 – Colt/Avrupa Drilling Campaign commences.
Alvalade Next Steps
- Focus drilling efforts on locating the main orezone.
- SES002, SES006, and SES010 are the main orezone intersection, these are the targets for orezone extension.