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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.

 

 

Sesmarias is located in the Iberian Pyrite Belt at the most Northwestern limb of the tectonic system. The belt was formed during the Devonian period, approximately 350 million years ago. An oceanic plate extensional event created unique conditions for the development of black smoker type hydrothermal vents. The vents transported dissolved metals in high temperature water from the cooling magma beneath to the oceanic floor where the metals precipitated as iron and copper sulphides. Along with iron and copper, zinc, lead, tin, and silver are also present. Geo_Iberian Pyrite Belt The most recent research on the tectonic development of the Iberian pyrite belt supports a dual subduction model. Subduction_Model Tectonics Volume 22, Issue 4, 1027, 1 JUL 2003 DOI: 10.1029/2002TC001387 http://onlinelibrary.wiley.com/doi/10.1029/2002TC001387/full#tect1547-fig-0009 Suboceanic felsic and mafic volcanics were deposited along with deposits of cuperiferous massive sulphides. This secondary subduction zone allowed the depositional environment constructed above cooling magmas for longer timeframes than other VMS type deposits of smaller ore volumes. Sesmarias discovery belongs to the geological trend that hosts the Neves Corvo deposit 60 km to the southest. As well indications from assay show similarities in mineralization composition as well as the anomalous tin concentration Neves Corvo is famous for is also found at Sesmarias.
Timeline

 

 

  • 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.
Drill hole SES015 began drilling October 26th, 2015.SES015_rig_photo_01  

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