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Velocity wraps up buy of 70% of Bulgarian gold project
04 03 2019Canadian mineral exploration and development company Velocity Minerals said on Friday that it has completed the acquisition of 70% interest in Bulgaria's Tintyava Property, which holds the Rozino gold deposit, from Bulgaria's Gorubso-Kardzhali. The Canadian company also entered into a shareholder’s agreement with Gorubso-Kardzhali, which covers the operation and management of the corporate joint venture company that holds the Prospecting and Exploration Licence for the Tintyava property - Tintyava Exploration, Velocity Minerals said in a statement. Velocity Minerals entered into the agreement with Gorubso-Kardzhali through its wholly-owned unit Kibela Minerals. The 2019 drill programme is now fully permitted and drilling is expected to begin in March, according to the statement.