Business
Velocity Minerals Drills 38 Metres of 0.92 g/t Gold at Rozino Project in Bulgaria
VANCOUVER, British Columbia, Dec. 07, 2017 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSX-V:VLC) (“Velocity” or the “Company”) announces that it has received l
About this update from Velocity Minerals Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia, Dec. 07, 2017 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSX-V:VLC) (“Velocity” or the “Company”) announces that it has received laboratory results for seven additional diamond drill holes at the Company’s advanced Rozino gold project (“Rozino” or the “Project”) (Table 1). Highlights include drill hole RDD-22 which intersected 27.0m grading 1.72g/t gold. Positive results continue to expand the extent of near-surface mineralization at Rozino. The Company has completed 38 drill holes to date in 2017 (results are pending for 15 drill holes) and plans to complete at least five additional drill holes in December 2017. Drilling during the remainder of 2017 is focused on drill testing surface soil geochemistry anomalies to the southeast (Figure 1). The Company plans to continue drilling in 2018 anticipating a total of 14,000m to 18,000m for the Project. Table 1: Drill Results from Velocity Drill Holes RDD-017 to RDD-023. Drillhole From (m) To (m) Thickness (m)^ Gold (g/t)Uncut RDD-017 40.0 47.0 7 0.61 and 50.0 69.0 19 0.71 and 74.0 84.0 10 0.75 RDD-018 74.8 84.8 10.0 0.59 and 100.8 104.8 4.0 0.52 and 142.8 146.8 4.0 0.50 and 155.8 161.1 5.3 0.53 RDD-019 130.75 134.75 4.0 0.76 RDD-020 No significant intercepts RDD-021 36.4 41.8 5.4 0.55 and 99.8 105.8 6.0 0.51 RDD-022 40.3 57.3 17.0 0.92 including 50.3 57.3 7.0 1.63 and 71.3 98.3 27.0 1.72 including 79.3 83.3 4.0 8.44 including 93.3 98.3 5.0 1.31 RDD-023 0.3 38.3 38.0 0.92 including 9.3 20.3 11.0 1.31 including 26.3 35.3 11.0 1.31 and 171.2 179.2 19.0 0.89 and 186.2 191.2 5.0 2.30 and 196.2 215.2 19.0 0.89 including 207.2 214.2 7.0 1.40 ^ The current exploration model has not had sufficient drill testing to be able to determine true thickness of mineralization. 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...