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Velocity Samples up to 56 g/t Gold at the Iglika Gold-Copper Project, Southeast Bulgaria
Vancouver, British Columbia--(Newsfile Corp. - April 13, 2021) - Velocity Minerals Ltd. (TSXV:...
About this update from Velocity Minerals Ltd.
[{"type":"text","content":"Velocity Samples up to 56 g/t Gold at the Iglika Gold-Copper Project, Southeast BulgariaVancouver, British Columbia--(Newsfile Corp. - April 13, 2021) - Velocity Minerals Ltd. (TSXV: VLC) (\"Velocity\" or the \"Company\") provides an update on positive exploration results from its 100%-owned Iglika gold-copper project (\"Iglika\" or the \"Project\"), located in southeastern Bulgaria. Iglika is an under explored property located in a highly prospective precious and base metal mineral belt. The Project has potential for both epithermal gold and porphyry copper - gold deposits. Velocity is focused on near surface gold potential, which comports well with Velocity's \"Hub and Spoke\" exploration and development strategy.Velocity has completed a program of comprehensive geochemical sampling, geophysical surveying (induced polarization and ground magnetics), and geological mapping covering the eastern portion (50%) of the Project, identifying several high-priority drill targets for testing in Q2. Systematic soil geochemical sampling has identified a number of large coherent gold in soil anomalies and the Company has collected 94 rock chip samples from limited outcrop within these anomalies, with results ranging from below detection to 56.76 g/t gold (Figure 1). A total of 19 samples returned >0.8 g/t gold, including 6 samples returning greater than 3.0 g/t gold. Figure 1: Eastern Portion of the Iglika Project showing soil and highlights of rock geochemistry,as well as extents of completed IP and magnetic surveysTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4368/80181_4ed86e23648059af_002full.jpgInduced polarization (IP) identified multiple chargeability-resistivity anomalies interpreted to represent potential sulphide mineralization and/or zones of prospective silicification (Figure 2). A ground magnetic survey over younger cover highlights a previously unknown northwest-trending magnetic low corridor that is interpreted to be related to deep-seated structures controlling mineralization (Figure 3). Figure 2: Induced Polarization Survey (Conductivity) on Eastern Portion of the Iglika Project with Target Areas and Rock Sample Locations Highlighted.To view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/4368/80181_4ed86e23648059af_003full.jpg  Figure...