08:44:54 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Velocity Minerals Ltd (3)
Symbol VLC
Shares Issued 61,188,413
Close 2017-12-06 C$ 0.22
Market Cap C$ 13,461,451
Recent Sedar Documents

Velocity Minerals drills 27 m of 1.72 g/t Au at Rozino

2017-12-07 09:36 ET - News Release

Mr. Keith Henderson reports

VELOCITY ANNOUNCES ADDITIONAL POSITIVE DRILL RESULTS AT ROZINO GOLD PROJECT, SOUTHEAST BULGARIA

Velocity Minerals Ltd. has received laboratory results for seven additional diamond drill holes at the company's advanced Rozino gold project. Highlights include drill hole RDD-22, which intersected 27.0 metres grading 1.72 grams per tonne gold. Positive results continue to expand the extent of near-surface mineralization at Rozino.

The company has completed 38 drill holes to date in 2017 (results are pending for 15 drill holes) and plans to complete at least five additional drill holes in December, 2017. Drilling during the remainder of 2017 is focused on drill testing surface soil geochemistry anomalies to the southeast. The company plans to continue drilling in 2018 anticipating a total of 14,000 metres to 18,000 metres for the project.

           DRILL RESULTS FROM VELOCITY 
         DRILL HOLES RDD-017 TO RDD-023  
  
Drill hole   From      To   Thickness^   Gold uncut
               (m)     (m)         (m)         (g/t)  
                  
RDD-017      40.0    47.0           7          0.61             
And          50.0    69.0          19          0.71             
And          74.0    84.0          10          0.75                                                                   
RDD-018      74.8    84.8        10.0          0.59             
And         100.8   104.8         4.0          0.52             
And         142.8   146.8         4.0          0.50             
And         155.8   161.1         5.3          0.53                                                                   
RDD-019    130.75  134.75         4.0          0.76             
RDD-020    No significant intercepts                                                                          
RDD-021      36.4    41.8         5.4          0.55             
And          99.8   105.8         6.0          0.51                                                                   
RDD-022      40.3    57.3        17.0          0.92             
Including    50.3    57.3         7.0          1.63             
And          71.3    98.3        27.0          1.72             
Including    79.3    83.3         4.0          8.44             
Including    93.3    98.3         5.0          1.31                                                                   
RDD-023       0.3    38.3        38.0          0.92             
Including     9.3    20.3        11.0          1.31             
Including    26.3    35.3        11.0          1.31             
And         171.2   179.2        19.0          0.89             
And         186.2   191.2         5.0          2.30             
And         196.2   215.2        19.0          0.89             
Including   207.2   214.2         7.0          1.40             

^ The current exploration model has not had 
sufficient drill testing to be able to 
determine true thickness of mineralization.

Quality assurance/quality control

The work program at Rozino was designed and is supervised by Stuart A. Mills, CGeol, the company's vice-president, exploration, who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site staff at the project rigorously collect and track samples, which are then security sealed and shipped to ALS Global laboratory in Romania. Samples used for the results described herein are prepared and analyzed by fire assay using a 30-gram charge in compliance with industry standards. Field duplicate samples, blanks and independent controlled reference material (standards) are added to every batch. Drill intersections in this news release are calculated using a 0.2-gram-per-tonne-gold trigger, a minimum 0.5-gram-per-tonne-gold composite, and a maximum of three metres of consecutive waste.

Qualified person

The technical content of this release has been approved for disclosure by Stuart A. Mills, BSc, MSc, CGeol, a qualified person as defined by National Instrument 43-101 and the company's vice-president, exploration. Mr. Mills is not independent of the company.

About Velocity Minerals Ltd.

Velocity is a gold exploration and development company focused on eastern Europe.

The company's portfolio of advanced gold exploration assets is currently in Bulgaria, which is a member of the European Union (2007) and an attractive destination for mining investment.

Velocity Minerals has entered into a number of option agreements with Gorubso Kardzhali AD, an established and respected mining company in Bulgaria. Gorubso operates the underground Chala gold mine (2006) and the Kardzhali carbon-in-leach (CIL) processing plant (2011), which produces gold dore.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.