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Velocity Minerals Drills 41 Metres of 1.19 g/t Gold at Rozino Gold Project, Southeast Bulgaria
VANCOUVER, British Columbia, Oct. 02, 2017 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV:VLC) (“Velocity” or the “Company”) announces that it has received la
About this update from Velocity Minerals Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia, Oct. 02, 2017 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV:VLC) (“Velocity” or the “Company”) announces that it has received laboratory results for three additional diamond drill holes at the Company’s advanced Rozino gold project (“Rozino” or the “Project”), located within the Tintyava prospecting and exploration licence area in southeastern Bulgaria (Table 1). All three boreholes intersected broad zones of gold mineralization which demonstrate excellent continuity and further support the potential for a near-surface, bulk tonnage, open pit development project. Drilling at Rozino is ongoing with eleven drill holes completed to date and mineralization remains open for expansion. Figure 1. Drill Intersect from Velocity Hole RDD-006 at Rozino. Results for RDD-002 were released previously Figure 2. Drill Intersect from Velocity Hole RDD-007 at Rozino Figure 3. Location of Velocity’s drill holes. Holes completed are shown in black. Results have been returned for holes 1 through 7. A total of eleven holes have been completed and drilling is ongoing Holes RDD-005 and RDD-006 are 50m steps outs from holes previously released (see NR17-05 and -06 for details). RDD-005 (Figure 3) returned 3 intersects above 0.5 g/t gold for over 50m of cumulative mineralization, including 13.9m @ 2.32 g/t gold. Hole 6 returned 3 intersects above 0.5 g/t gold for over 80m of cumulative mineralization, including 41.0m @ 1.19 g/t gold (Figures 1 & 3). RDD-007 collared approximately 200m to the northeast of the main Rozino target and was designed to test the potential depth extents of historic trench results. The hole intersected mineralized sediments grading 0.80 g/t gold over 22.4, before passing into faulted granites returning 2 additional intersects. These results are very encouraging and a program of trenching to better define the nature of the mineralization is underway prior to further drill testing of this target later this year. Table 1: Drill Results from Velocity Drill Holes RDD-005, -006 & -007 at Rozino. Drillhole From (m) To (m) Thickness (m)^ Gold (g/t) RDD-005 28.8 39.3 10.5 0.52 and 55.1 81.9 26.8 0.68 and 118.9 132.8 13.9 2.32 RDD-006 62.0 94...