SAN FRANCISCO, CA–(Marketwired – August 21, 2017) – While Bulgaria may not be the first country investors equate with gold mining, executives at one TSX Venture Exchange-listed company are sitting on pins and needles waiting for the drill results that could prove their high-grade thesis.
Company included in article: Velocity Minerals Ltd.
Velocity Minerals Ltd. (TSX VENTURE: VLC), one of the first movers for gold in Bulgaria, has entered into option agreements with Gorbuso-Kardzhali A.D., a private Bulgarian mining company, to earn 50% of the Ekuzya project and 70% of the Rozino project. Historical drilling on the Rozino project suggests the potential of high-grade gold mineralization.
Velocity announced on Aug. 1 that it initiated phase 1 drilling at the Rozino project, which is located within the Tintyava prospecting and exploration license in southeast Bulgaria. The nine diamond drill holes are a part of a larger, 12,000-meter drill program of up to 65 holes.
CEO Keith Henderson told Streetwise Reports, “We have rushed the first drill cores to the lab and are expecting to receive results imminently. This will be the first indication of whether our thesis for high-grade mineralization is correct.”
Continue reading this article: Is the Next Gold Mine in Bulgaria?
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DISCLOSURE:
The following companies mentioned in this article are sponsors of Streetwise Reports: Velocity Minerals Ltd. Streetwise Reports does not accept stock in exchange for its services.
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