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Velocity Minerals Ltd.
Summary
| Project: | Obichnik | |
|---|---|---|
| Deposit: | Durusu Tepe | |
| Location: | Bulgaria | |
| Commodities: | Gold | |
| Date: | 2/24/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-2-2020: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Durusu Tepe deposit at the Obichnik project. Drilling results incl. 17.1m @ 2.29g/t Au from 5.2m. Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC) (“ | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stuart A. Mills (Internal) | |
| ABSTRACT: | Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” or the “Company”) announces that it has received additional positive drill results for the Durusu Tepe target (“Durusu”) at the Obichnik gold project (“Obichnik”), Bulgaria (Table 1, Figures 1 and 2). The Obichnik project is interpreted to be an intrusion-related gold and base metal mineralizing system containing both near surface high-grade sub-epithermal gold targets and deeper bulk tonnage porphyry gold potential, hosted within a large 2.5km x 1.5km surface alteration zone. Step out drilling at Durusu has continued to extend mineralization over a strike length of more than 300m and the mineralization remains open. Results are pending for 50m step-outs to the east and west and drill testing at Durusu is ongoing with three drill rigs on site. Durusu Target Results from six additional drill holes at Durusu are reported in Table 1. The Durusu target is an east-west trending, structurally controlled sub-epithermal gold mineralization defined by drilling over 300m along strike to date. Zones of high-grade mineralization are projected to surface on Figure 1 and appear to have broad continuity. Moving west from Durusu, the Siviri Tepe target (Figure 1) is defined by a surface soil geochemical anomaly and remains untested to date. | |
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