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Velocity Minerals Announces Positive Gold Resource Expansion Drill Results at Rozino
Highlights include: Drill hole RDD-091; 30.0m @ 0.84 g/t gold (incl. 9.0m @ 1.68 g/t gold) Drill hole RDD-103; 20.1m @ 0.99 g/t gold (incl. 5.0m @ 2.91 g/t gold
About this update from Velocity Minerals Ltd.
[{"type":"text","content":" Highlights include: Drill hole RDD-091; 30.0m @ 0.84 g/t gold (incl. 9.0m @ 1.68 g/t gold) Drill hole RDD-103; 20.1m @ 0.99 g/t gold (incl. 5.0m @ 2.91 g/t gold) Drill hole RDD-112; 28.6m @ 1.13 (incl. 6.0m @ 3.4 g/t gold) Drill hole RDD-116; 14.1m @ 1.06 g/t gold (incl. 9.1m @ 1.5 g/t gold) VANCOUVER, British Columbia, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” or the “Company”) announces that it has received drill results for an additional 27 drill holes completed at the Rozino gold deposit (“Rozino”), southeast Bulgaria (Table 1, Figure 1). Drill results continue to expand the mineralized envelope and drilling continues with drill hole RDD-135 in progress. A third drill rig has been mobilized to site and the drill program is expected to be completed in Q3. “The extensive drill program underway at Rozino will bring the project to a prefeasibility study. The drill program aims to expand the mineralized envelope as currently defined by the 2018 PEA, testing for extensions to mineralization outside of the pit limits as well as at depth,” stated Keith Henderson, Velocity’s President & CEO. “In addition to Rozino, the Company continues to successfully explore two additional projects at Obichnik and Makedontsi, potentially building out satellite projects for integration into a hub ‘n’ spoke development model.” Highlights from the Rozino resource expansion program include: Drill hole RDD-091 intersected 30.0m grading 0.84 g/t gold. The result continues to point to potential expansion of the main PEA pit northward, potentially facilitating consolidation of the main pit with the north pit. Drill hole RDD-101 and RDD-103 (Figure 2) similarly points towards consolidation of the PEA pit designs. Both drill holes returned intersections of approximately 20m grading approximately 1 g/t gold. Importantly, these drill holes also intersected mineralization underlying the PEA design pits and the prefeasibility mine design will assess potential pit extension to depth. Drill holes RDD-112, -115, and -116 have all extended the mineralized envelope between the main and north pits. A cross-section for drill hole RDD-112 is included, which intersected 28.6m grading 1.13 g/t gold (Figure 3). The Company routinely updates a list of s...