Velocity Announces Further Positive Drill Results from Bulgarian Gold Mine

Velocity Announces Further Positive Drill Results from Bulgarian Gold Mine

Canadian mineral exploration and development company Velocity Minerals said on Tuesday that drill results from a further 12 holes at the Rozino gold deposit in southeast Bulgaria have continued to intersect multiple broad intervals of near surface gold mineralization. "The current infill and expansion drill program continues to expand and extend potentially open-pittable mineralization as currently defined in the Company’s NI 43-101 September 2018 Preliminary Economic Assessment (PEA)," Velocity Minerals said in a statement. Expansion drilling returned good results and continuity beyond PEA base case pit design, the company noted. Due to the ongoing positive drill results Velocity is mobilising a third drill rig to site, which is expected to arrive before the end of June. The programme also envisages an additional 1,000 m of drilling regionally to begin testing structural targets located close to the Rozino deposit.

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