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Velocity Minerals Receives Additional Positive Drill Results, Further Expanding the Mineralized Envelope at Rozino Gold Deposit, Bulgaria
VANCOUVER, British Columbia, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV: 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. 13, 2019 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” or the “Company”) announces that it has received additional positive drill results from the Rozino gold project (“Rozino”), located in Bulgaria. Highlights include 24.4m from surface @ 0.85g/t gold and 31.8m @ 0.58g/t gold, including 8.0m @ 1.04g/t gold. Mineralization remains open for expansion. “The addition of near-surface gold mineralization outside of the PEA base case pit limit was a primary objective of the current drill program,” stated Keith Henderson, Velocity’s President & CEO. “We have been successful in demonstrating that the Rozino deposit is not fully defined by the PEA results and that there is potentially more to be added in terms of additional mineralization.” Mr. Henderson continued, “In total we plan to complete more than 12,000 metres of drilling at Rozino this year. This will include both infill drilling and additional exploration drilling as we seek to define the outer limits of the deposit.” Detailed Results The addition of a near-surface gold intersection from drill hole RDD-066, which collared outside of the Preliminary Economic Assessment (“PEA”) (September 2018) base case open pit design, further expands mineralization to the southeast. The mineralization corresponds with surface soil and trench responses previously reported in the Q4 2018 (Table 1, Figures 1 & 2). Drill hole RDD-063 collared inside the PEA (September 2018) base case open pit limits and returned significant gold intersections that have the potential to extend the base case open pit at depth (Table 1, Figures 1 & 3). Table 1: Results from drill holes RDD-063 to RDD-066 Drillhole From (m) To (m) Thickness (m)^ Gold (g/t) RDD-063 0.0 8.0 8.0 1.33 and 125.4 157.2 31.8 0.58 including 133.4 141.4 8.0 1.04 RDD-064 No Significant Intercept RDD-065 No Significant Intercept RDD-066 0.4 24.8 24.4 0.85 ^ The drill intersections disclosed here have not yet been included in a resource model and true thickness of mineralization has not yet been determined. Drill holes are designed to intersect mineralization perpendicular or close to perpendicular. Quality Assurance / Quality Control The work program at Rozino was desig...