Gold in Bulgaria
Velocity is an exploration and development company focused on an emerging gold district in southeast Bulgaria. The Company’s strategy is to develop a low cost ‘Hub & Spoke’ operation whereby multiple gold projects produce gold concentrates for trucking to an existing, central processing plant for production of doré.
Rozino Project – First ‘Spoke’ in Model
A prefeasibility study completed at the Rozino gold project in August 2020 establishes the Rozino deposit as supporting an economic open pit mine operation with gold recovery by a combination of on-site concentration in a flotation plant and further off-site processing in an existing, operating processing plant. In this development model, Rozino would represent a single ‘Spoke’ transporting concentrate to the ‘Hub” for gold doré production.
Pipeline of Projects as Potential ‘Spokes’
Velocity continues to aggressively explore Rozino and additional gold projects in the region, aiming to discover and define additional gold resources or ‘Spokes’ as part of the ‘Hub & Spoke’ strategy. The processing plant, available through a Bulgarian partner, has the potential to produce up to 200,000 ounces of gold per year.