Velocity gets further positive drill results from Bulgaria's Rozino gold project

At the Rozino deposit, intersections are close to surface and there are additional untested areas into which this mineralization may extend, Velocity Minerals said in a statement on Tuesday.

"Both infill drilling and additional step-outs are in progress, aiming to expand the mineralization further south and east," the company added.

At the Rozino South target, drilling continues to intersect gold mineralization at depth. Follow up drilling is in progress, targeting near surface gold mineralization, the mineral exploration company noted.

In May, Velocity Minerals said that it has discovered a new zone of mineralization at the Rozino South target, grading up to 5.23 g/t gold.

In September of 2019, the company announced that drill results from an additional 15 holes at the Rozino gold deposit have continued to expand the mineralized envelope.

Velocity Minerals completed the acquisition of 70% interest in Bulgaria's Tintyava Property, which holds the Rozino gold deposit, from local company Gorubso-Kardzhali in 2019, through delivery of a PEA.