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Velocity Minerals Drills 27 Metres of 2.64 g/t Gold at Rozino Project in Southeast Bulgaria
VANCOUVER, Oct. 19, 2017 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV:VLC) (“Velocity” or the “Company”) announces that it has received laboratory results f
About this update from Velocity Minerals Ltd.
[{"type":"text","content":"VANCOUVER, Oct. 19, 2017 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV:VLC) (“Velocity” or the “Company”) announces that it has received laboratory results for four additional diamond drill holes at the Company’s advanced Rozino gold project (“Rozino” or the “Project”) (Table 1). Drill holes RDD-008 and RDD-009 were collared outside of the main mineralized zone (“Main Zone”) and were targeted upon historical trench results. Positive results include 27.0m @ 2.64 g/t gold (6.03 g/t gold uncut) and demonstrate the excellent opportunities to discover new and additional mineralized zones at Rozino that are near surface and amenable to potential bulk tonnage, open pit development. Drill holes RDD-010 and RDD-011 are 50m step-outs from previously announced intersections and both holes intersected mineralization, which remains open in all directions. Drilling at Rozino is ongoing with 16 drill holes completed to date. A second drill rig is expected to arrive on site in the coming week. Drillhole RDD-008 is located 300m east of Main Zone (Figure 1) and returned two broad intersects including 41.7m @ 0.85g/t gold (from surface) and 33.95m @ 0.79 g/t gold. The drill intersections provide confirmation that historical trenching and soil anomalies are indicative of sub-surface mineralization. The soil anomaly tested by RDD-008 measures 250m x 250m and will require additional drill testing. Drillhole RDD-009 targeted historical trench anomalies located 150m southwest of the central main zone (Figures 1 and 2), intersecting 27m @ 2.64g/t gold (6.03 g/t uncut). This new gold zone trends northwest, is subparallel to the main mineralization and remains open. Table 1: Drill Results from Velocity Drill Holes RDD-008, -009, -010 and -011 at Rozino. Drillhole From (m) To (m) Thickness (m)^ Gold (g/t) Uncut Gold (g/t)Top cut* RDD-008 2.3 44.0 41.7 0.86 0.86 and 112.8 146.75 33.95 0.79 0.79 RDD-009 3.0 30.0 27.0 6.03 2.64* including 6.0 22.0 16.0 9.90 4.17* RDD-010 1.1 12.7 11.6 0.88 0.88 81.8 83.8 2.0 2.99 2.99 ...