Velocity Minerals reports significant soil anomaly at Bulgaria's Rudarka project

"Work completed in recent weeks includes soil geochemistry and initial channel sampling of outcrops, the results of which define new targets which are untested by drilling to date. The soil geochemistry did not highlight an area of mineralisation previously defined by historical drilling but it highlighted an area to the northeast that is highly anomalous for gold-in-soil, as well as for a range of pathfinder elements," Velocity said in a statement.

Velocity also said that the soil geochemistry survey identified a significant gold-in-soil anomaly, extending over 250m x 100m and aligned with interpreted mineralising structures. "One historical short drill hole is located within the anomaly and intercepted 10.8m grading 0.8 g/t gold. A nearby historical trench returned an interval of 34.3m grading 0.85 g/t gold at the southwestern limit of the soil anomaly," the company added.

According to Velocity, both historical results support the prospectivity of the soil anomaly, but neither was sampled by the company and drilling will be required to verify the grade and thickness of mineralisation.

The company plans to complete additional channel sampling of outcrops and subcrops in and around the area of the soil anomaly to prioritise targets for drill testing, it also said.

Earlier this year, Velocity Minerals said that it is planning to complete up to 50,000 m of exploration drilling at its projects in Bulgaria in 2021, sharply up from 22,500 m. of drilling done last year. Velocity is actively drilling at the Rozino, Obichnik and Makedontsi projects in Bulgaria.