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Velocity Minerals Ltd.
Summary
| Project: | Rozino | |
|---|---|---|
| Deposit: | Rozino | |
| Location: | Bulgaria | |
| Commodities: | Gold | |
| Date: | 7/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-7-2017: Velocity Minerals Ltd. announces a Supporting Acquisition report for its Rozino deposit at the Rozino project. Summary of property in support of acquisition. Addison Mining Services Ltd. ("AMS") has prepared this National Instrument 43-101 – St | |
| Resources: | x | |
| CP/QP: | [Overall Report]: J. N. Hogg (Addison Mining Services Ltd.) | |
| ABSTRACT: | Addison Mining Services Ltd. ("AMS") has prepared this National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report for the Rozino gold project, Bulgaria, held by Velocity Minerals Ltd. (“Velocity”) under option from the underlying Bulgarian owner GorubsoKardzhali AD (“Gorubso”). This report provides a summary of the geology, style of mineralisation and exploration work conducted on the area (“Tintyava” or “Tintyava Property”) covered by the Tintyava prospecting and exploration licence No. 467 dated February 28, 2017 granted by the Council of Ministers of Republic of Bulgaria (“Tintyava PL"), much of which was focussed specifically on mineralization at the Rozino gold deposit (“Rozino Target”, "Rozino Project", “Rozino Deposit” or “Rozino”), located within the Tintyava Property. Field visits by the author of this report (“Author”) were conducted September 1 – 4, 2016, with results of verification check sampling being returned on September 30, 2016. The Tintyava PL was subsequently approved by the Bulgaria Council of Ministers on February 28, 2017, and a prospecting and exploration licence agreement for the project was signed on May 2, 2017. Subsequent to that, an exploration and drilling permit for the Tintyava Property was granted July 3, 2017. Velocity has an exclusive option to earn an undivided 70% interest in the Tintyava Property. The Tintyava Property was acquired by Velocity as a result of its acquisition as of July 21, 2017 of all the issued and outstanding shares of 1077076 B.C. Ltd. (“7076”), whereby 7076 became a wholly-owned subsidiary of Velocity. 7076's Bulgarian subsidiary, Kibela Minerals AD (“Kibela”), is a party to an option agreement dated July 19, 2017 (“Option Agreement”) with Gorubso-Kardzhali AD (“Gorubso”), whereby Gorubso granted the option to Kibela. | |
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