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Velocity Minerals Drills 74 Meters of 2.35 g/t Gold at Rozino Gold Project, Southeast Bulgaria
August 21, 2017 / JMN Wire / - Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” or the “Company”) announces it has received laboratory results for the first two d
About this update from Velocity Minerals Ltd.
[{"type":"text","content":"August 21, 2017 / JMN Wire / - Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” or the “Company”) announces it has received laboratory results for the first two drill holes (Table 1) at the Company’s advanced Rozino gold project (“Rozino” or the “Project”), located within the Tintyava prospecting and exploration licence area in southeastern Bulgaria. “These results are among the best grades ever returned from the project and the drill holes clearly demonstrate the potential for thick, high-grade gold mineralization between the historical drill fences.” stated Keith Henderson, Velocity’s President & CEO. “The Company’s exploration model at Rozino is that gold mineralization is controlled by northwest-trending, steeply dipping structures. Most historical holes were drilled vertically or angled parallel to what is believed to be controlling structures; neither of these previous approaches adequately tested mineralization.” Mr. Henderson continued, “The initial phase one program will consist of nine holes in total and approximately 2,000m. Four 50m step-outs will investigate the continuity of the newly discovered high-grade mineralization. An additional three holes will be focused on high-grade trench samples located peripheral to Rozino where previous drill testing has been absent or ineffective.” Table 1: Drill Results from Velocity Drill Holes at Rozino. DRILLHOLEFROM (M)TO (M)THICKNESS (M)^GOLD (G/T)UNCUTGOLD (G/T)TOP CUT* RDD-001 62.85 106.9 45.05 2.04 2.04 and 120.9 145.9 25.00 2.04 2.04 RDD-002 41.8 99.8 58.00 1.04 1.04 and 109.8 183.8 74.00 3.81 2.35* including 117.8 156.8 39.00 6.88 4.11* ^ The current exploration model has not had sufficient drill testing to be able to determine true thickness of mineralization.* The histogram of drill results from the current program does not contain sufficient information to define a suitable top-cut grade. The Company’s Qualified Person has exercised judgement and experience in applying a top-cut of 40g/t to this intersection. Figure 1: Section showing historical drill holes and Velocity’s drill hole number RDD-002. Intersections greater than 0.5 g/t gold are shown on historical drill holes. Intersections of gold mineralization are labelled. Figure 2: Section showing historical drill holes and Velocity’s drill hole number RDD-001. Intersections greater than 0.5 g/t gold...