Velocity Mineral Stock Price, News & Analysis

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.

Velocity Minerals Ltd. has filed an independent Prefeasibility Study (PFS) Technical Report for its Rozino gold project in Bulgaria. The PFS indicates a viable economic open-pit mining operation, showing an after-tax NPV of CAD$163 million and IRR of 27.4% based on a gold price of $1,500/oz. The project boasts a probable mineral reserve of 465,000 ounces and an all-in sustaining cost of $755/oz. It also highlights low environmental risk with non-hazardous waste. Further exploration opportunities exist due to the deposit's open nature.