Welcome to our dedicated page for Velocity Mineral news (Ticker: VLCJF), a resource for investors and traders seeking the latest updates and insights on Velocity Mineral stock.
Velocity Minerals Ltd. (VLCJF) generates a steady stream of news related to precious metals and copper exploration in Eastern Europe, corporate transactions and shareholder approvals. Company releases provide detailed updates on its gold, silver and copper projects in Bulgaria and northern Greece, as well as on agreements with partners and investors.
Recent news has focused on the sale of Velocity’s Bulgarian assets, including its 70% interest in the prefeasibility-stage Rozino gold project and other Bulgarian mineral property interests, to Türker Global Madencilik Sanayi ve Ticaret A.Ş. Updates describe the definitive agreement, payment structure, shareholder approval of the transaction, and the initial tranche payment received. The company also reports on related arrangements such as a standby letter of credit benefiting its Bulgarian partner Gorubso-Kardzhali AD and a funding and technical services agreement under which Türker Mining finances work to keep the assets in good standing and advance feasibility and environmental studies.
News items also cover exploration and project generation activities, including the granting of the Miriofito copper-gold exploration license in northern Greece and planned work programs involving mapping, sampling and geophysical surveys. Additional releases describe the option agreement for the Toledo gold-silver property in Western Bulgaria, outlining historical exploration data, the historical mineral resource estimate treated as such by Velocity, and the staged cash payments required to exercise the option.
Investors following VLCJF can use this page to review transaction milestones, exploration updates, option agreements, governance decisions and strategic investment developments, including amendments to the investment agreement with Artemis Gold Inc. and the results of annual and special shareholder meetings. Bookmark this news feed to track how Velocity’s exploration portfolio and corporate structure evolve over time.
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Velocity Minerals Ltd. has entered into a binding letter agreement with Zelenrok EOOD, a subsidiary of Raiden Resources, granting an exclusive option to acquire up to a 75% interest in the Zlatusha gold-copper property in Bulgaria. This 195 km² site exhibits significant geological potential, with seven known mineral occurrences and a historical drilling total of 10,000m. Highlights include drill results of 3.63 g/t gold from surface samples. Velocity plans to commence surface exploration and drilling in Q2 2023, a move aimed at advancing its position in the lucrative copper-gold sector.
Velocity Minerals Ltd. has received approval for a 3-year work program at the Dangovo Prospecting License in Bulgaria. The Ministry of Energy’s approval allows for drill testing to commence in 2023. The Dangovo property is adjacent to the Makedontsi project, where a historical gold resource is recorded. Velocity aims to explore potential gold extensions from Makedontsi, indicated by previous geophysical surveys. The initial drilling program will cover 2,000 meters. This approval is the final step in the regulatory process following the acquisition of the property in late 2022.
Velocity Minerals Ltd. (TSX.V: VLC) announced the appointment of Gerrie van der Westhuizen to its board of directors, following the resignation of Chris Batalha. This change aligns with a strategic investment agreement with Artemis Gold Inc. Van der Westhuizen brings over 20 years of mining industry experience and will also serve as CFO starting January 1, 2023. His background includes significant roles in financing and M&A activities within resource companies in Africa and North America.