Velocity Minerals Ltd. announced that it has received additional positive assay results from step-out drilling at East Zone, Rozino gold project, with all 2018 drill holes intersecting gold mineralization. The first drill hole of 2018 (RDD-044) intersected 30.8m grading 1.55g/t gold and 66.5m grading 1.32g/t gold. This news release includes results from RDD-045 through RDD-049 and these drill holes have each stepped out 50m to 100m from drill hole RDD-044 and continue to expand the zone.
Highlights include RDD-046, which intersected 57.0m grading 0.82g/t gold, having stepped 100m to the northeast from previous drill hole RDD-040 (144.7m grading 1.52g/t gold).
“Rozino’s East Zone continues to deliver long, consistent intersections of gold mineralization from surface, grading approximately 0.7g/t gold to 1.5g/t gold. Stepping out 50m to 100m at a time, we are continuing to expand the footprint of this newly discovered zone, which remains open for expansion,” stated Keith Henderson, Velocity’s President and CEO. “Velocity recently announced a maiden inferred resource at Rozino for 629,000 ounces grading 1.15g/t gold assuming a 0.5g/t gold cut-off grade. The drill results announced today were not included in the inferred resource but will form part of an updated mineral resource estimate and preliminary economic assessment in Q3 this year.”
Source: globenewswire