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Velocity Initiates Phase I Drilling at Advanced Rozino Gold Project, Southeast Bulgaria
(via TheNewswire) Files NI 43-101 Technical Report for Rozino Grants 3,500,000 Incen...
About this update from Velocity Minerals Ltd.
[{"type":"text","content":"Velocity Initiates Phase I Drilling at Advanced Rozino Gold Project, Southeast Bulgaria(via TheNewswire)\n \n \nFiles NI 43-101 Technical Report for Rozino\n\n \n \nGrants 3,500,000 Incentive Stock Options\n\n \n \nVancouver, British Columbia / TheNewswire / August 1 2017 - Velocity Minerals Ltd. (TSXV: VLC.H) (\"Velocity\" or the \"Company\") announces that it has initiated diamond drilling at the Company's advanced Rozino Gold Project (\"Rozino\" or the \"Project\"). The Company has also filed on SEDAR a National Instrument 43-101 (\"NI 43-101\") technical report (the \"Technical Report\") for the Rozino deposit, located within the Tintyava prospecting and exploration licence, southeast Bulgaria. The Technical Report summarizes historical exploration at Rozino, including 142 diamond drill holes, totaling approximately 22,500m. \n\n\n \nDrill Program\n\n\n \nA total of 9 diamond drill holes (approximately 2,000m) are planned for Phase I at the Rozino Project (Figure 1), which is described in more detail below. The program is part of a larger drill program of up to 65 drill holes (approximately 12,000m), that is planned to be on-going through the remainder of 2017 and early 2018. \n\n\n \nA total of 142 historical drill holes have been drilled on the Project, either vertically or oriented to the northeast, parallel to the predominant structural trends seen in outcrop. The last hole drilled on the project (2006) was completed following a structural review which identified a strong northwest control on mineralisation: \n\n\n \nDrill hole R-245 was drilled perpendicular to the newly-interpreted northwest control on mineralization, and intersected 68m @ 3.15 g/t gold, including 11.39m @ 8.09 g/t gold. Hole R-245 confirmed that mineralization exists between the drill fences and the potential for additional broad intersects of near surface, high grade mineralization located between the existing drill fences is considered to be good to excellent. Velocity's current drill program is testing this interpretation. \n\n\n \nRozino Project \n\n\n \nVelocity (through a Bulgarian subsidiary) holds an option to acquire an undivided 70% legal and beneficial interest in the Tintyava property, free and clear of all liens and encumbrances, granted by Gorubso Kardzhali A.D. (\"Gorubso\"). The Rozino Project, which is the subject of the recently file...