Velocity Intersects High Grade Gold Mineralization at Bulgaria's Chala Mine

Velocity Intersects High Grade Gold Mineralization at Bulgaria's Chala Mine

Canadian mineral exploration and development company Velocity Minerals said on Thursday that it has intersected high grade gold mineralization at Chala gold mine in Bulgaria. "Drill results at Target Zone 8A return gold intersections and consistency of grade both vertical and lateral to the gold bearing vein mineralization currently being exploited at Chala," Velocity said in a statement. "Priority drill target Zone 8A has been tested by three drill rings drilled on 50m centres to the west of existing underground development," Velocity added.The zone was previously considered to be unmineralized, according to the statement.In June, Velocity negotiated an agreement with Bulgaria's Gorubso Kardzhali, under which it will be granted the option to acquire a 50% interest in the Chala gold mine in Bulgaria by incurring 1 million Canadian dollars ($756,500/649,400 euro) in aggregate exploration expenditures over an 18-month period, of which 500,000 Canadian dollars must be incurred within the first twelve months.Velocity has one more gold project in Bulgaria - Rozino, located in the southeast of the country.

Previous Next
Close
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.