March 28 (SeeNews) - Canadian mineral exploration and development company Velocity Minerals said on Thursday that it has launched its 2019 drill programme at the Rozino gold project in Bulgaria.
Several drill holes have been completed and the first results from the 2019 drill program are expected in the coming weeks, Velocity Minerals said in a statement.
A total of 12,000 m to 14,000 m of drilling is planned to be completed at Rozino, which will include exploration drilling to expand the resource base, as well as resource definition and infill drilling. The programme also envisages an additional 1,000 m of drilling regionally to begin testing structural targets located close to the Rozino deposit.
Earlier this month, Velocity Minerals closed a 9 million Canadian dollars ($6.8 million/6.0 million euro) strategic investment with Atlantic Gold Corporation and its unit 1193490 B.C. Ltd, with the proceeds to be used to fund the advancement of the Rozino gold project.
Velocity Minerals completed the acquisition of 70% interest in Bulgaria's Tintyava Property, which holds the Rozino gold deposit, from Gorubso-Kardzhali earlier this year, through delivery of a PEA.
(1 euro = 1.51 Canadian dollars)