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Velocity Minerals Ltd.
Summary
| Project: | Rozino | |
|---|---|---|
| Deposit: | Rozino | |
| Location: | Bulgaria | |
| Commodities: | Gold | |
| Date: | 11/19/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-11-2019: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Rozino deposit at the Rozino project. Drilling results incl. 126.1m @ 0.66g/t Au from 0.0m. Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC) (“Veloc | |
| Resources: | (not mentioned in this report) | |
| 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 drill results for an additional 40 drill holes completed at the Rozino gold deposit (“Rozino”), southeast Bulgaria (Table 1). Highlights of comprehensive engineering studies completed in support of the Rozino Prefeasibility Study (“PFS”) are summarized below. Ongoing exploration of the large 160 km2 property and the Rozino sub-basin has identified a new target at South Zone. Results have been received for 40 drill holes (up to and including RDD-170, Table 1). Highlights are discussed below. In summary, the infill drill program continues to deliver broad intersections of surface to near-surface gold mineralization with good to excellent continuity. The most recent results also indicate that mineralization extends both below and beyond the Preliminary Economic Assessment design pits suggesting that there may be potential to combine the main and north pits as currently defined in the PEA study (Figures 1, 2 & 3). Engineering studies continue. In detail, drill holes RDD-144 and RDD-150 both intersected significant mineralization (33.2m grading 0.8 g/t gold in hole R-DD144 and 35.0m @ 0.60 g/t gold plus 52.8m @ 0.93 g/t gold in hole RDD-150) providing a mineralized bridge between the PEA design main pit and mineralization intersected to the north (Figures 2). The bulk of the mineralization in these two drill holes is outside of the 2018 PEA design pit. In the same area and to the south RDD-138 intersected 25.0m grading 1.49 g/t gold (including 11.0m grading 2.73 g/t gold (Figure 3). RDD-138 is one of multiple intersections in this area demonstrating consistent mineralization underlying the 2018 PEA design pit. | |
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