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Velocity Minerals Extends East Zone Discovery at Rozino Gold Project, Southeast Bulgaria
VANCOUVER, British Columbia, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSX-V:VLC) (“Velocity” or the “Company”) announces that it has received a
About this update from Velocity Minerals Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSX-V:VLC) (“Velocity” or the “Company”) announces that it has received assay results for three diamond drill holes at Rozino East Zone, following up on RDD-040, which returned 144.7m grading 1.52g/t gold. Highlights include drill hole RDD-042, drilled 50m to the southeast, which intersected 49.6m grading 0.88g/t gold from surface. Drill hole RDD-041, collared 100m to the southwest, intersected 13.8m from surface grading 1.05g/t gold. All three follow-up holes returned mineralized intersections and have extended the extent of the East Zone to at least 200m x 150m, with mineralization open for expansion (Figure 1, Table 1). “The discovery and ongoing definition of East Zone now provides excellent upside potential at Rozino, adding to the excellent results at Main Zone during 2017,” stated Keith Henderson, Velocity’s President and CEO. “The ultimate footprint of East Zone is not yet known, but it has potential to exceed that of Main Zone. Drilling in Q1 will continue to step out at East Zone.” Table 1: Highlights of East Zone drill results Drillhole From (m) To (m) Thickness (m)^ Gold (g/t) RDD-008* 2.3 44.0 41.7 0.86 and 112.8 146.75 33.95 0.79 RDD-040* 3.0 147.7 144.7 1.52 including 3.0 67.3 64.3 2.21 and including 102.2 128.7 26.5 1.30 and including 140.7 147.7 7.0 1.85 RDD-041 2.3 16.1 13.8 1.05 RDD-042 1.5 51.1 49.6 0.88 and 61.2 75.2 14.0 0.88 RDD-043 61.8 72.8 11.0 0.52 and 80.8 98.6 17.8 0.54 and 109.6 137.0 27.4 0.68 ^ The current exploration model has not had sufficient drill testing to be able to determine true thickness of mineralization. * East Zone Drill holes RDD-008 and RDD-040 have been reported previously (news releases 10th October 2017 and 11th January 2018). Planned Drilling Results at East Zone have been positive and as a result at least 20 additional drill holes will be required to test the extents of mineralization. Sections through East Zone (Figures 2 and 3) show highlights of drilling to date as well as a portion of the planned follow up drilling. Quality Assurance / Quality Control The work program ...