Announcement Date: 2021-12-20
Announcement Type: Exploration Update
Announcement Code: NI43-101
Company name: Velocity Minerals Ltd.
Project name: Rudarka
Location: Bulgaria
Commodities: Gold
Highlight: Channel sampling results incl. 8.2m @ 1.31g/t Au
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, British Columbia – Velocity Minerals Ltd. (TSX.V: VLC) (“Velocity” or the “Company”) announces positive results of exploration at the Rudarka project (the “Project”), southeast Bulgaria. Work completed in recent weeks includes soil geochemistry and initial channel sampling of outcrops, the results of which define new targets which are untested by drilling to date. The soil geochemistry did not highlight an area of mineralization previously defined by historical drilling but it highlighted an area to the northeast that is highly anomalous for gold-in-soil, as well as for a range of pathfinder elements (Figure 1). The soil geochemistry survey identified a significant gold-in-soil anomaly, extending over 250m x 100m and aligned with interpreted mineralizing structures. One historical short drill hole (34m in depth) is located within the anomaly and intercepted 10.8m grading 0.8 g/t gold. A nearby historical trench returned an interval of 34.3m grading 0.85 g/t gold at the southwestern limit of the soil anomaly (Figure 1). Both historical results support the prospectivity of the soil anomaly
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