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Velocity Minerals Defines Multiple Surface Soil Anomalies at Ekuzya Gold Exploration in Southeast Bulgaria
VANCOUVER, British Columbia, Sept. 28, 2017 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV:VLC) (“Velocity” or the “Company”) announces that it has received l
About this update from Velocity Minerals Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia, Sept. 28, 2017 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV:VLC) (“Velocity” or the “Company”) announces that it has received laboratory results from a soil sampling program at the Ekuzya Project (“Ekuzya” or the “Project”), southeast Bulgaria. A total of 401 soil samples were collected on a 50m by 50m grid covering the eastern portion of the Property (Figure 1). Results range from below detection up to 3.16g/t gold and confirm Velocity’s interpretation that Ekuzya contains widespread gold mineralization and that the Property is part of the Chala mine mineralizing system. Figure 1. Gridded soil geochemistry with anomalies highlighted Figure 2. Ekuzya targets showing historical drill holes Soil Gold Anomalies The Company has now established eight targets (Figure 1) that are prospective for gold mineralization. These include Ekuzyata, Zone 5 and Zone 5a, which were established as targets using historical drilling and historical base metal mining records where available. Five additional and previously unknown anomalies have also been detected. The eight targets together comprise over 30 hectares. Trench sampling at the Ekuzyata target, extending into soil anomaly Zone 5 has been completed and results are pending. On receipt of trench results, the Company will continue trenching the untested soil anomalies with a view to drilling targets in early 2018. Historical Drilling Historical drill holes are shown on Figure 2. Only 3% of historical drill core samples at Ekuzya were assayed for gold and drill holes containing gold analysis are highlighted. Ekuzyata and Zone 5 include several holes with gold analysis, although it is notable that the best part of the larger Ekuzyata anomaly has not been drill tested and analyzed for gold. Zone 5a has no historical holes with gold analysis. Anomaly 1 is located between Zone 5a and Zone 5 and was historically drilled for base metal mineralization but has not been analyzed for gold. Anomalies 2 to 5 are undrilled and have had little if any previous exploration. Ekuzya Project Background Ekuzya is contiguous with the Chala gold mine, operated by Gorubso Kardzhali A.D. (“Gorubso”) and the Project is located within the Chala mining concession. The Ekuzya project was first to be explored in th...