Velocity Minerals Ltd. Receives Positive Metallurgical Results at Rozino Gold Project, Southeast Bulgaria
VANCOUVER, British Columbia, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Velocity Minerals Ltd. (TSXV: VLC) ("Velocity" or the "Company") announces that it has received positive results from comminution, flotation & gravity recovery, and leach test work on a bulk sample representative of the entire Rozino gold project ("Rozino" or the "Project"), located in southeast Bulgaria.
Results of this work will be incorporated into the Rozino NI 43-101 Preliminary Economic Assessment ("PEA"), which is in progress with results expected to be released in September 2018. Delivery of the PEA is the mechanism by which Velocity will earn a 70% interest in the Rozino gold deposit.
"Comprehensive metallurgical test work has provided us with positive results for inclusion into the Rozino PEA. The results included here provide Velocity with a mechanism to produce a 30 g/t gold concentrate, which is amenable to processing at the nearby Gorubso carbon-in-leach plant," stated Keith Henderson, Velocity's President & CEO. "The flotation test work has demonstrated that the process delivers a high-quality concentrate for input to the existing CIL plant. With extremely low sulphide contents, low carbon contents and negligible deleterious elements, this low-volume, high-grade concentrate should complement the development options being considered in the PEA."
Highlights of Results
- >98% of sulphide recoverable to produce a gold concentrate using standard flotation
- Low-volume, high-grade concentrate complements PEA project development options
- Concentrate produced typically averages 30 g/t gold
- Flotation gold recoveries of approximately...