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Velocity Minerals Ltd.
Summary
| Project: | Rozino | |
|---|---|---|
| Deposit: | Rozino | |
| Location: | Bulgaria | |
| Commodities: | Gold | |
| Date: | 10/19/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-10-2017: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Rozino deposit at the Rozino project. Drilling results incl. 27m @ 6.03g/t Au from 3m. Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” | |
| 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 laboratory results for four additional diamond drill holes at the Company’s advanced Rozino gold project (“Rozino” or the “Project”) (Table 1). Drill holes RDD-008 and RDD-009 were collared outside of the main mineralized zone (“Main Zone”) and were targeted upon historical trench results. Positive results include 27.0m @ 2.64 g/t gold (6.03 g/t gold uncut) and demonstrate the excellent opportunities to discover new and additional mineralized zones at Rozino that are near surface and amenable to potential bulk tonnage, open pit development. Drill holes RDD-010 and RDD-011 are 50m step-outs from previously announced intersections and both holes intersected mineralization, which remains open in all directions. Drilling at Rozino is ongoing with 16 drill holes completed to date. A second drill rig is expected to arrive on site in the coming week. Drillhole RDD-008 is located 300m east of Main Zone (Figure 1) and returned two broad intersects including 41.7m @ 0.85g/t gold (from surface) and 33.95m @ 0.79 g/t gold. The drill intersections provide confirmation that historical trenching and soil anomalies are indicative of sub-surface mineralization. The soil anomaly tested by RDD-008 measures 250m x 250m and will require additional drill testing. | |
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