Gold in Eastern Europe
Velocity is an exploration and development company with a medium-term strategy to move towards gold production in Bulgaria. A Preliminary Economic Assessment has been completed on the Rozino gold project and the Company is focused on expansion and exploration drilling as part of feasibility-level work. Additional near surface gold projects provide additional potential for resource growth.
Velocity envisions staged open pit mining of satellite deposits and processing in a central CIL plant. An existing, operating processing plant is available through an Exploration and Mining Alliance with an established Bulgarian operating partner. The processing plant has the potential to produce >200,000 ounces of gold per year.