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.
Velocity Minerals Ltd. provides updates on its exploration projects in Bulgaria, focusing on ongoing drilling at the Iglika copper-gold project and planned activities at the Rozino gold deposit and the newly acquired Dangovo property. The Iglika project targets multiple mineral types, with drilling commencing in August. Rozino holds a 464,000-ounce gold deposit, with upcoming drilling aimed at high-priority targets. The Dangovo license is set for drill testing in Q4 2022, expanding the Makedontsi project. Additionally, the company granted stock options to a subsidiary director.
Velocity Minerals Ltd. held its annual general meeting on June 24, 2022, where shareholders approved all presented motions. A total of 115,802,047 shares, accounting for 72.25% of the outstanding shares, were voted on. Key approvals included the number of directors, appointment of auditors, and the ratification of a stock option plan, with all motions receiving 100% approval. Additionally, the company published its 2021 ESG Report, focusing on emissions reduction, diversity, and employee safety, along with various community initiatives.
Velocity Minerals Ltd. has commenced drilling at the Voden gold exploration target in Bulgaria's Iglika project. Positive results from mechanical channel samples include significant gold grades, such as 3.3m @ 12.14 g/t, with highlights of 1.0m @ 37.9 g/t. The targets are based on extensive geological work indicating gold mineralization over a 2 km length. Phase I drilling aims to explore gold deposits from the surface to 200m depth. Additionally, the company granted stock options to staff, amounting to 4.35 million shares at $0.30 each, representing 5.9% of issued stock.
Velocity Minerals Ltd. announced promising exploration results from the Rudarka project in southeast Bulgaria, revealing significant gold-in-soil anomalies and channel sampling highlights. The soil geochemistry survey identified a gold-in-soil anomaly over 250m x 100m, and initial channel sampling yielded noteworthy grades, including 8.2m grading 1.31 g/t gold. Additional drilling is necessary to verify these findings. The company plans further channel sampling to prioritize targets for drilling. The results support the project's potential for mineralization, aligning with Velocity's strategy of developing a centralized operation.
Velocity Minerals Ltd. has filed a revised NI 43-101 technical report for the Rozino gold project in Bulgaria, dated December 15, 2021. The report, prepared by CSA Global, outlines the pre-feasibility study for the project and is available on SEDAR and the company's website. Velocity, with a focus on southeastern Bulgaria, aims to develop a low-cost centralized 'Hub and Spoke' operation, owning interests in multiple properties including Rozino. This strategic development could enhance its production capabilities in the emerging district.
Velocity Minerals Ltd. has released an updated National Instrument 43-101 technical report for its Obichnik gold project in southeastern Bulgaria, revealing an Inferred Mineral Resource estimate of 3.21 million tonnes at an average grade of 1.21 g/t, totaling 123,000 ounces of gold. Significantly, metallurgical assessments indicate gold recovery rates of 95% for oxide and transitional materials and 96% for fresh/sulphide materials. Based on recent data, these estimates utilize advanced resource modeling techniques and closely monitor quality assurance protocols throughout the testing process.
Velocity Minerals Ltd. has delivered an Exercise Notice to Gorubso-Kardzhali AD for the Nadezhda property, earning a 70% interest in the property. The Makedontsi project shows mineralization from surface, with future drilling planned to test extensions. Also announced is the retirement of VP Exploration Stuart A. Mills, who will continue part-time. The company is set to release a detailed ESG report for 2021, highlighting its sustainability initiatives, including recycling and honeybee projects at Rozino.
Velocity Minerals has reported promising drill results from its Rozino gold project in Bulgaria, highlighting significant gold intersections from 30 new drill holes. Notable findings include drill hole RDD-258, which revealed 5.0m grading 10.11 g/t gold, and RDD-254, yielding 17.3m grading 1.01 g/t gold. A total of 17 drill holes showed substantial gold intersects, enhancing the potential for resource expansion in the area. These results are crucial as they have not yet been incorporated into a resource model, indicating further exploration opportunities.
Velocity Minerals Ltd. reported significant drill results from its Rozino gold project in Bulgaria, highlighting drill hole RDD-233 with an intersection of 6.0m grading 7.25 g/t gold and drill hole RDD-085 with 15.5m at 1.75 g/t gold. These results, not included in the current mineral resource estimate, indicate potential expansion of the gold deposit. Additionally, the Sofia City Administrative Court dismissed an NGO's appeal against the Tintyava prospecting license, allowing operations to proceed unimpeded. The company focuses on a low-cost centralized mining strategy in the region.
Velocity Minerals Ltd. has exercised its option to acquire a 70% interest in the Momchil property, including the Obichnik gold project, from Gorubso-Kardzhali AD. This is part of the company's strategy to expand its gold exploration efforts in Bulgaria. An initial estimate suggests the Obichnik deposit contains 4.4 million tonnes grading 1.1 g/t gold, amounting to 156,000 ounces. Shareholders have passed all resolutions at the recent annual general meeting, re-electing directors and approving a stock option plan. The company continues to make advancements in its mineral resource reporting and project development.