IGLIKA PROJECT
LOCATION
Trucking distance to gold processing plant
DEPOSIT TYPE
Epithermal gold mineralization
EXPLORATION
Comprehensive surface exploration and diamond drilling
The Iglika project is located in southeast Bulgaria, approximately 170km by road from Bulgarian partner Gorubso Kardzhali A.D.’s gold processing plant. Velocity has a 100% interest in the project and the associated exploration licence covering an area of 105 km2, subject to a 2% net smelter returns royalty, of which 1.5% is subject to buy-back rights.
The underexplored project is located in the westernmost portion of the prolific Tethyan belt that transects Bulgaria and hosts a number of epithermal gold and porphyry copper-gold mineral deposits and operating mines. Velocity is focused on targets with potential for discovery of gold mineralization.
Exploration
A program of comprehensive geochemical sampling, geophysical surveying, and geological mapping identifies high-priority drill targets.