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Velocity Minerals Announces Drill Results from Rozino Gold Project, southeast Bulgaria
Highlights include: Drill hole RDD-074; 8.0m @ 2.68g/t gold near surfaceDrill Hole RDD-073; 10.0m @ 1.77g/t gold Additional Drill Rig Mobilized to Site VANCOUVE
About this update from Velocity Minerals Ltd.
[{"type":"text","content":" Highlights include: Drill hole RDD-074; 8.0m @ 2.68g/t gold near surfaceDrill Hole RDD-073; 10.0m @ 1.77g/t gold Additional Drill Rig Mobilized to Site VANCOUVER, British Columbia, May 13, 2019 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” or the “Company”) announces that it has received drill results for the initial 11 drill holes completed at the Rozino gold deposit (“Rozino”), southeast Bulgaria (Table 1, Figure 1). Results are pending for an additional 8 drill holes from the planned 14,000m drill program. The Company has mobilized a second drill rig to the Rozino project, with a third due to arrive next month. Positive drill results from the 2019 program include drill hole RDD-073; 40.0m grading 0.73g/t gold and 24.0m grading 0.98g/t gold (including 10.0m grading 1.77 g/t gold). Drill hole RDD-074 intersected mineralization at only 3.9m from surface; 8.0m grading 2.68g/t gold. Drilling has focused on stepping out from the 460,000 ounces of total mined gold as outlined in the Company’s NI 43-101 Preliminary Economic Assessment (“PEA”) (see news release 17 September 2017 for details of PEA results and assumptions). Results from drill holes RDD-058 through RDD-061 all intersected mineralization outside of the PEA pit design (see news release 8 January 2019). Follow up resource expansion drilling in holes RDD-070 and RDD-071 intersected near-surface mineralization outside of the PEA design pit, expanding the resource base by a further 100m along strike to the southeast from previous drilling. Drilling in this area of the deposit is ultimately aiming to provide a single combined design pit. Quality Assurance / Quality Control The work program at Rozino was designed and is supervised by Stuart A. Mills, CGeol, the Company's Vice-President Exploration, who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ALS Global laboratory in Romania. Samples used for the results described herein are prepared and analyzed by fire assay using a 30-gram charge in compliance with industry standards. Field duplicate samples, blanks and independent controlled reference material (standards) are added to eve...