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Velocity Minerals Discovers High-Grade Outcropping Gold Mineralization at Kazak Target, Rozino Project - Assays up to 17.8 g/t Gold
VANCOUVER, British Columbia, June 10, 2020 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSX.V: VLC) (“Velocity” or the “Company”) announces that it has discovere
About this update from Velocity Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, June 10, 2020 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSX.V: VLC) (“Velocity” or the “Company”) announces that it has discovered new outcropping gold mineralization at the Kazak target area (“Kazak”) and received additional positive drill results from the Rozino South Zone (“Rozino South”), both of which are priority exploration targets close to the Rozino Project (“Rozino”), Bulgaria. The Company is prioritizing exploration in these areas as any discovery arising from the current exploration could potentially make use of common infrastructure at Rozino. Highlights: Kazak Target -- continuous rock chip1 sampling has returned two consecutive 1.0m samples grading 17.8 g/t gold and 17.3 g/t gold. The high-grade gold occurs in the same permissive sedimentary host rocks as the Rozino deposit. The Kazak target area is located approximately 2km south of Rozino. These are the highest-grade results that have been encountered from surface outcrop sampling since the inception of exploration at the Rozino project in 2017. Rozino South -- drill results returned a significant, near-surface intercept of 4.0m grading 0.92 g/t gold. The Rozino South target is located 800m south of the Rozino deposit. Velocity is continuing its drill-focused exploration and developing new target areas to the south of the currently defined, open-pittable Rozino gold deposit. Kazak Target Following positive results from soil sampling and initial rock sampling (see news release May 26, 2020) Velocity has received results of continuous rock chip sampling1 at Kazak located approximately 2km south of Rozino. The work has identified new outcrops of silicified sediments similar to the Rozino deposit host rocks and continuous rock chip1 sampling of sparse outcrops within an area that is mostly under surficial cover returned two significant intervals of 2.0m grading 17.6 g/t gold and 2.0m grading 0.53 g/t gold. Systematic mapping and trenching of the Kazak target are in progress and drilling of the high-grade zone will begin as soon as possible. Rozino South Drilling The Rozino South target is situated 800m south of the Rozino deposit and exploration drilling (Figure 1 and 2) is ongoing with results reported here from drill hole RDD-178, which returned 4.0m grading 0.92 g/t gold fr...