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20.01.2011, 18:36
Avrupa granted licenses to explore minerals

Avrupa Minerals is a company focused on aggressive exploration, using a prospect generator model for valuable mineral deposits and prospective regions of Europe, including Portugal and Kosovo.

On January 19th, Avrupa released a press statement announcing that the Government of Kosovo has granted them two exploration licenses. The Bajgora license, which is located 30-40 kilometers north of capital Prishtina, targets the extraction of silver, lead, zinc, and gold. The license covers an area of 76.5 square kilometers of highly prospective land.

The other Rezhanc license is located 55-60 kilometers south of Prishtina, close to the border with Macedonia, where the extraction of copper and gold are targeted. The license covers an area of 19.05 square kilometers.

Avrupa has already been granted two licenses before, that of Kamenica and Glavej. Paul W. Kuhn, CEO of Avrupa Minerals, noted that, “the acquisition of the Bajgora and Rezhanc licenses is an important milestone in bringing Avrupa to “critical mass” in Kosovo.” The company now holds four licenses with documented surface mineralization. Avrupa will now advance the properties to a level where the entire package becomes attractive to a potential joint venture mining partner who would then continue to move the properties forward to possible mining stage.

Mining and energy in Kosovo offer plenty of investment possibilities because Kosovo has an enviable endowment of natural resources. At 14.7 million tonnes, Kosovo possesses the world's fifth-largest proven reserves of lignite. In order to improve the efficiency of the distribution system, the Government of the Republic of Kosovo is planning further investments in distribution capacities, as well as the privatization of the currently state-owned energy distribution company which has already been unbundled from the state-owned Kosovo Energy Corporation.

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