Velocity Minerals Ltd. provides an update on positive exploration results from its 100%-owned Iglika gold-copper 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 Minerals Ltd. announces that it has received a notice of early conversion from Artemis Gold Inc. with respect to an 8.5% secured convertible debenture in the principal amount of $5,094,000 issued to Artemis in March 2019. The Convertible Debenture was issued in connection with a $9,000,000 strategic investment by Artemis into the Company [...]
Velocity Minerals Ltd. announces that as part of its Obichnik joint venture earn-in agreement it has received an initial Inferred Mineral Resource estimate for the Durusu Zone on its Obichnik gold Project. Highlights include: Initial Resource; 4.4 Mt @ 1.1 g/t gold for 156,000 ounces, at 0.3 g/t gold cut-off grade Near-surface; 80% of estimated [...]
Velocity Minerals Ltd. announces that it has accelerated the exercise of its option to acquire the Iglika copper-gold project, located in southeastern Bulgaria. The Company has now acquired a 100% interest in the Project and the associated exploration license. The Project is located in the westernmost portion of the prolific Tethyan belt that [...]
Velocity Minerals Ltd. announces receipt of drill results from its gold exploration projects in southeast Bulgaria. Drilling is ongoing with five drill rigs active across three projects. The Company's strategy is to develop a low cost 'Hub & Spoke' operation which envisions open pit mining of satellite deposits and processing in an existing central [...]
Velocity Minerals Ltd. announces an expanded 2021 exploration drill program of up to 50,000m at its projects in Bulgaria following up on positive 2020 results and extensive targeting in preparation for 2021. Highlights of 2020 include: Positive Rozino prefeasibility study completed returning an after-tax IRR of 27.4%. 22,500m of drilling completed [...]
Velocity Minerals Ltd. announces that it has closed a 9.99% strategic investment with Dundee Precious Metals Inc. whereby the Company has issued and sold 13,394,000 common shares to DPM for an aggregate purchase price of $6,697,000 on a private placement basis. In connection with the Strategic Investment, Velocity issued to [...]
Velocity Minerals Ltd. is pleased to announce that it has entered into an investment agreement dated November 13, 2020 with Dundee Precious Metals Inc., whereby DPM will invest up to $7,000,000 to acquire a 9.99% ownership interest in Velocity on a non-diluted basis. Under and subject to the terms and conditions of the Investment Agreement, DPM has [...]
Velocity Minerals Ltd. announces receipt of results for additional drill holes at the Obichnik gold project in Bulgaria. Results have been received for 16 drill holes, including two drill holes at the new high-grade Premka discovery. Mineralization is open and drilling is ongoing. Premka Discovery, Obichnik Highlights at the new Premka zone include [...]
Velocity Minerals Ltd. announces it has filed on SEDAR an independent Prefeasibility Study Technical Report for its Rozino gold project located in southeast Bulgaria. The Report entitled “Rozino Gold Project, Pre-feasibility Technical Report” is dated October 14, 2020 and was prepared by CSA Global, an international mining consultancy with [...]
Velocity Minerals Ltd. announces receipt of results for initial drill holes from the Kazak discovery , Bulgaria. Kazak is located approximately 2 km south of the Rozino deposit , for which positive results of a prefeasibility study were recently announced . Exploration drilling at Kazak and other targets located close to Rozino are being [...]
Velocity Minerals Ltd. announces the results of an independent Prefeasibility Study on its Rozino gold project located in southeast Bulgaria. The PFS establishes the Rozino deposit as supporting an economic open pit mine operation with gold recovery by a combination of on-site concentration in a flotation plant and further processing to produce a [...]
