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Velocity Reports Large Gold in Soil Anomalies Adjacent to the Rozino Deposit, Southeast Bulgaria
Rock Samples Grade up to 28.2 g/t Gold Vancouver, British Columbia--(Newsfile Corp. - May 12,...
About this update from Velocity Minerals Ltd.
[{"type":"text","content":"Velocity Reports Large Gold in Soil Anomalies Adjacent to the Rozino Deposit, Southeast BulgariaRock Samples Grade up to 28.2 g/t GoldVancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Velocity Minerals Ltd. (TSXV: VLC) (\"Velocity\" or the \"Company\") provides an update on soil sampling and follow-up rock chip sampling results at Rozino (\"Rozino\" or the \"Project\") in the area immediately surrounding the deposit. Three large gold in soil anomalies have been defined (Figure 1) and field verification of the anomalies has identified widespread epithermal vein material in outcrop and float (Plate 1). Analysis of outcrop and float rock chip samples within the three soil anomalies confirms the presence of gold mineralization, grading up to 28.2 g/t gold in outcrop. From a total of 18 rock samples collected within the soil anomalies, all samples returned gold mineralization with an average grade of 2.76 g/t gold.The soil and rock anomalies represent immediate drill targets and drilling has been initiated with additional rigs being mobilized to the area.Recent drill success proximal and underlying the Rozino gold deposit highlighted the potential for basement rocks to host significant gold mineralization (news release NR21-07, April 27, 2021). Field verification within the soil anomalies has identified basement rocks with mineralization similar to Rozino. Figure 1: Map showing new soil anomalies adjacent to Rozino, the extents of the soil survey and results of rock chip sampling, planned drill holes and the Rozino PFS pit.To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4368/83702_velocityfigure1.jpgEach of the three large gold anomalies is located within 500m of the Rozino deposit (Figure 1) and drill testing aims to expand the resource base at Rozino. The soil samples were collected on a 100m x 100m grid and soil anomalies are located in areas underlain by basement rocks. Gold Anomaly A1 -- The anomaly includes 11 contiguous soil samples >100ppb gold with a peak gold-in-soil sample returning 336ppb gold. Field checking of the anomaly has identified abundant float containing epithermal vein material (Plate 1, A1a and A1b). Ten rock chip samples from anomaly A1 were submitted for analysis with all samples returning gold mineralization ranging from 0.1 g/t gold to 3.73 g/t go...