For thousands of other reports visit RSC's Mineral Intellingence Map
Velocity Minerals Ltd.
Summary
| Project: | Obichnik | |
|---|---|---|
| Deposit: | Durusu Tepe | |
| Location: | Bulgaria | |
| Commodities: | Gold | |
| Date: | 9/3/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-9-2019: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Durusu Tepe deposit at the Obichnik project. Drilling results incl. 29.1m @ 2.46g/t Au from 62.0m. Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC, OT | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stuart A. Mills (Internal) | |
| ABSTRACT: | Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC, OTCQB: VLCJF, Frankfurt: VMSP) (“Velocity” or the “Company”) announces that it has received additional drill results from one of four high priority targets, Durusu Tepe (Target 1), at the Obichnik gold project (“Obichnik”), Momchil property, southeast Bulgaria (Table 1, Figure 1). Initial drill results (see news release July 15, 2019 for details) included 43.4m grading 3.89 g/t gold and 27.5m grading 1.24 g/t gold. Expansion drilling confirms the continuity of high-grade epithermal gold mineralization 100 metres to the east, including 29.1m grading 2.46 g/t gold and 9.3m grading 2.82 g/t gold (Figure 1). Mineralization remains open for expansion. The gold mineralization is associated with intensely silicified volcanics within a package of strong (phyllic) alteration. Mineralization appears to be best developed within coarser grained volcanics; however, there is a strong structural control striking broadly east – west and dipping steeply to the north. Two significant, high-grade intersects were returned from drill hole ODD-006 (Table 1): An upper drill intersection from surface returned 9.7m grading 1.04 g/t gold including 3.3m grading 2.57 g/t gold. A lower drill intersection returned 29.1m grading 2.46 g/t gold including 5.9m grading 6.95 g/t gold. Critically the intersections confirm the continuation of high-grade epithermal mineralization 100m along strike from drill hole ODD-001, which intersected 43.4m grading 3.89 g/t gold including 19.9m grading 7.87 g/t gold (see news release July 15, 2019). | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report