June 16 (SeeNews) - Canadian gold exploration company Velocity Minerals said that it has received positive results from an additional seven drill holes at its Rozino gold project in Bulgaria.
Drilling at Rozino continues to discover significant gold mineralisation hosted in basement rocks adjacent to and underlying the deposit, Velocity said in a statement last week.
"Recently received drill results include drilling adjacent and contiguous to the prefeasibility study design pit (3 drill holes) and drilling at the Rozino North target (4 drill holes). Wide drill intersects adjacent to the PFS design pit confirm a thick zone of basement-hosted gold mineralisation outside of the Existing Resource. The gold mineralisation remains open to the north and east and a further 15 drill holes have been completed with results pending," the company said.
Last month, Velocity said that it found three large gold anomalies near Rozino, grading up to 28.2 g/t gold in outcrop.
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.