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Velocity Minerals Ltd.

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Summary

Project:

Rozino

Deposit:Rozino
Location:Bulgaria
Commodities:Gold
Date:10/2/2017
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:2-10-2017: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Rozino deposit at the Rozino project. Drilling results incl. 41m @ 1.19g/t Au from 124m. Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC) (“V
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 three additional diamond drill holes at the Company’s advanced Rozino gold project (“Rozino” or the “Project”), located within the Tintyava prospecting and exploration licence area in southeastern Bulgaria (Table 1). All three boreholes intersected broad zones of gold mineralization which demonstrate excellent continuity and further support the potential for a near‐surface, bulk tonnage, open pit development project. Drilling at Rozino is ongoing with eleven drill holes completed to date and mineralization remains open for expansion. Holes RDD‐005 and RDD‐006 are 50m steps outs from holes previously released (see NR17‐05 and ‐06 for details). RDD‐005 (Figure 3) returned 3 intersects above 0.5 g/t gold for over 50m of cumulative mineralization, including 13.9m @ 2.32 g/t gold. Hole 6 returned 3 intersects above 0.5 g/t gold for over 80m of cumulative mineralization, including 41.0m @ 1.19 g/t gold (Figures 1 & 3) RDD‐007 collared approximately 200m to the northeast of the main Rozino target and was designed to test the potential depth extents of historic trench results. The hole intersected mineralized sediments grading 0.80 g/t gold over 22.4, before passing into faulted granites returning 2 additional intersects. These results are very encouraging and a program of trenching to better define the nature of the mineralization is underway prior to further drill testing of this target later this year. Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” or the “Company”) announces that it has received laboratory results for three additional diamond drill holes at the Company’s advanced Rozino gold project (“Rozino” or the “Project”), located within the Tintyava prospecting and exploration licence area in southeastern Bulgaria (Table 1). All three boreholes intersected broad zones of gold mineralization which demonstrate excellent continuity and further support the potential for a near‐surface, bulk tonnage, open pit development project. Drilling at Rozino is ongoing with eleven drill holes completed to date and mineralization remains open for expansion. Holes RDD‐005 and RDD‐006 are 50m steps outs from holes previously released (see NR17‐05 and ‐06 for details). RDD‐005 (Figure 3) returned 3 intersects above 0.5 g/t gold for over 50m of cumulative mineralization, including 13.9m @ 2.32 g/t gold. Hole 6 returned 3 intersects above 0.5 g/t gold for over 80m of cumulative mineralization, including 41.0m @ 1.19 g/t gold (Figures 1 & 3) RDD‐007 collared approximately 200m to the northeast of the main Rozino target and was designed to test the potential depth extents of historic trench results. The hole intersected mineralized sediments grading 0.80 g/t gold over 22.4, before passing into faulted granites returning 2 additional intersects. These results are very encouraging and a program of trenching to better define the nature of the mineralization is underway prior to further drill testing of this target later this year.

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