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Velocity Minerals Ltd.
Summary
| Project: | Sedefche | |
|---|---|---|
| Deposit: | Sedefche | |
| Location: | Bulgaria | |
| Commodities: | Gold | |
| Date: | 4/20/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-4-2020: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Sedefche deposit at the Sedefche project. Drilling results incl. 24.3m @ 5.55g/t Au, 51.76g/t Ag from 20.1m. Vancouver, British Columbia – Velocity Minerals Ltd. (TS | |
| 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 from 33 additional drill holes for the Sedefche gold project (“Sedefche”), Bulgaria. This large batch of drill results continues to broadly confirm the grade and tenor of historical results. The near-surface Sedefche gold project has previously been advanced through a successful permitting process and is permitted for near-term production. As part of project due diligence, Velocity has drilled 5,756m to date, including 3,897m in 2020. Drilling has paused pending receipt of results from an additional 23 drill holes. All drill core samples have been dispatched for analysis. An additional 3,000m of drilling is budgeted in 2020, contingent on results of the current drilling and other due diligence work. The Company has been completing a range of due diligence activities including detailed metallurgical testing and review of the mine plan. Velocity’s results have returned better grade and tenor than historical 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). | |
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