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Velocity Minerals Announces Results for Sedefche Gold Project in Southeast Bulgaria

Mining News - Published on Fri, 17 Jan 2020

Image Source: velocityminerals.com
Velocity Minerals Ltd announced that it has received initial drill results for the Sedefche Gold Project in Bulgaria. The Company’s initial verification drilling at Sedefche has broadly confirmed historical drilling results and identified higher-grade zones associated with areas of silica-gold replacement mineralization. The results support the potential to fast-track development of the Sedefche deposit along the lines of an existing, permitted Mine Design Plan completed by Bulgarian partner Gorubso-Kardzhali AD. Velocity’s CEO Keith Henderson said “The Sedefche project is permitted for development and Velocity is moving quickly to complete exploration drilling and resource verification, as well as engineering due diligence and metallurgical test work. These initial drill results provide the Company with a very positive start to the year.”

Velocity’s results to date have broadly confirmed the grade and tenor of previous results and identified a number of higher-grade zones within the existing resource envelope not previously identified by historical exploration. In addition, mineralization has been extended along a parallel trend west of the previously defined Bulgarian State Resource in drill hole SDD-012 which returned 11.0m grading 0.98 g/t gold and 87.80 g/t silver from 62.4m

Drill hole SDD-002 returned a high-grade intersection of 12.9m grading 3.80 g/t gold and 38.68 g/t silver. On the same section, drill hole SDD-004, returned 23.7m grading 1.17 g/t gold and 49.64 g/t silver, while drill hole SDD-005 returned 18.1m grading 2.75 g/t gold and 55.71 g/t silver.

Drill hole SDD-008 returned 11.5m grading 4.25 g/t gold and 87.80 g/t silver from surface.

Additional drilling and engineering due diligence is planned with the aim of reaching a decision point on the project in H1, 2020.

Source :

Posted By : Rabi Wangkhem on Fri, 17 Jan 2020
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