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Velocity Minerals Ltd.
Summary
| Project: | Sedefche | |
|---|---|---|
| Deposit: | Sedefche | |
| Location: | Bulgaria | |
| Commodities: | Gold | |
| Date: | 1/9/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-1-2020: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Sedefche deposit at the Sedefche project. Drilling results incl. 18.1m @ 2.75g/t Au, 55.71g/t Ag from 20.1m. Vancouver, British Columbia – Velocity Minerals Ltd. (TSX | |
| 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 initial drill results for the Sedefche Gold Project (“Sedefche”), Bulgaria (Table 1, Figures 1 to 4). The Company’s initial verification drilling at Sedefche has broadly confirmed historical drilling results and identified higher-grade zones associated with areas of silica-gold replacement mineralization. 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”). “The Sedefche project is permitted for development and Velocity is moving quickly to complete exploration drilling and resource verification, as well as engineering due diligence and metallurgical test work,” stated Keith Henderson, Velocity’s CEO, “These initial drill results provide the Company with a very positive start to the year.” Velocity’s results to date have broadly confirmed the grade and tenor of previous results and identified a number of higher-grade zones within the existing resource envelope not previously identified by historical exploration. In addition, mineralization has been extended along a parallel trend west of the previously defined Bulgarian State Resource in drill hole SDD-012 which returned 11.0m grading 0.98 g/t gold and 87.80 g/t silver from 62.4m (Figures 1 and 3). | |
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