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Velocity Minerals Ltd.
Summary
| Project: | Sedefche | |
|---|---|---|
| Deposit: | Sedefche | |
| Location: | Bulgaria | |
| Commodities: | Gold | |
| Date: | 5/19/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-5-2020: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Sedefche deposit at the Sedefche project. Drilling results incl. 27.2m @ 3.24g/t Au, 110.41g/t Ag from 2.3m. Velocity is currently completing due diligence on the Se | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stuart A. Mills (Internal) | |
| ABSTRACT: | Velocity is currently completing due diligence on the Sedefche project and all of the drill results have now been returned in order for in-house resource estimation to be completed. The drill results broadly confirm the size and tenor of the mineralization previously identified by Gorubso and reported to the Bulgarian government as part of Gorubso’s permitting process. Representative samples have been collected for preliminary metallurgical test work and Velocity’s mining engineers are currently assessing the detailed engineering works that were part of the mining concession awarded to Gorubso in 2019. Due diligence is ongoing with results pending from verification of the historical estimates and metallurgical testing. Until all results have been received and analyzed, there are no assurances that Velocity will exercise the Sedefche project option to enter into a joint venture. | |
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