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Velocity Minerals Announces Additional Extension to Gold Mineralization at Durusu Tepe, Obichnik Gold Project, Southeast Bulgaria
Highlights include:Drill hole ODD-025; 17.1m @ 2.29g/t gold, incl. 2.8m @ 11.03g/t goldDrill hole ODD-026; 15.3m @ 1.40g/t gold, incl. 5.4m @ 2.89g/t goldDrill
About this update from Velocity Minerals Ltd.
[{"type":"text","content":" Highlights include:Drill hole ODD-025; 17.1m @ 2.29g/t gold, incl. 2.8m @ 11.03g/t goldDrill hole ODD-026; 15.3m @ 1.40g/t gold, incl. 5.4m @ 2.89g/t goldDrill hole ODD-027; 4.1m @ 5.08g/t gold, incl. 2.3m @ 8.29g/t gold Gold mineralization remains open to east and west and at depth VANCOUVER, British Columbia, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” or the “Company”) announces that it has received additional positive drill results for the Durusu Tepe target (“Durusu”) at the Obichnik gold project (“Obichnik”), Bulgaria (Table 1, Figures 1 and 2). The Obichnik project is interpreted to be an intrusion-related gold and base metal mineralizing system containing both near surface high-grade sub-epithermal gold targets and deeper bulk tonnage porphyry gold potential, hosted within a large 2.5km x 1.5km surface alteration zone. Step out drilling at Durusu has continued to extend mineralization over a strike length of more than 300m and the mineralization remains open. Results are pending for 50m step-outs to the east and west and drill testing at Durusu is ongoing with three drill rigs on site. Durusu Target Results from six additional drill holes at Durusu are reported in Table 1. The Durusu target is an east-west trending, structurally controlled sub-epithermal gold mineralization defined by drilling over 300m along strike to date. Zones of high-grade mineralization are projected to surface on Figure 1 and appear to have broad continuity. Moving west from Durusu, the Siviri Tepe target (Figure 1) is defined by a surface soil geochemical anomaly and remains untested to date. Planned Work Drilling will focus on both step-out and infill drilling, with an intention to publish a mineral resource estimate in H1 2020. Two man-portable rigs are currently carrying out the infill drilling and a third drill rig has recently begun initial testing of the Durusu mineralization at depth. Deep penetrating geophysics is scheduled to begin in Q1 after the completion of the first deep drill hole, in order to develop further deep drill targets. Drill holes in Table 1 are labeled on Figure 1. Quality Assurance / Quality Control Velocity have not assessed the Quality Assurance / Quality Control (QAQC) of historical results and as such historical results are not con...