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Velocity Minerals Ltd.
Summary
| Project: | Sedefche | |
|---|---|---|
| Deposit: | Sedefche | |
| Location: | Bulgaria | |
| Commodities: | Gold | |
| Date: | 3/2/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-3-2020: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Sedefche deposit at the Sedefche project. Drilling results incl. 25.2m @ 6.4g/t Au from 12.1m. Vancouver, British Columbia – Velocity Minerals Ltd. (TSX.V: VLC) (“Vel | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stuart A. Mills (Internal) | |
| ABSTRACT: | Vancouver, British Columbia – Velocity Minerals Ltd. (TSX.V: VLC) (“Velocity” or the “Company”) announces that it has received results for four additional drill holes for the Sedefche Gold Project (“Sedefche”), Bulgaria. Velocity’s results continue to broadly confirm the grade and tenor of historical results and have identified a number of higher-grade zones like those for drill hole ODD-019 (Figure 1 and Table 1). The results support the potential to fast-track development of the Sedefche deposit along the lines of an existing, permitted Mine Design Plan completed by Bulgarian partner Gorubso-Kardzhali A.D. (“Gorubso”) Velocity’s results have returned better grade and tenor than previous results and continue to define a number of higher-grade zones within the existing resource envelope, which were not identified by historical exploration (Figures 1 and 2) Drill hole SDD-019 (Figures 1 and 2) returned a 25.2m intersection grading 6.40 g/t gold (5.45 g/t gold using a 20g/t top cut) and 57.8 g/t silver, including 13.0m grading 11.22 g/t gold (9.38 g/t gold using a 20g/t) top cut and 70.5 g/t silver. Top cutting is done when samples return analysis in excess of 20 g/t gold; in this drill hole being three samples, peaking at a grade of 30.9 g/t gold over 1 meter. | |
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