Iglika Overview

Key Data

OWNERSHIP
  • 100% interest
LOCATION
  • ~170km east of gold processing plant
DEPOSIT TYPE
  • Epithermal gold & porphyry copper deposits
HISTORICAL ESTIMATES
  • An estimate is registered with the Ministry of Energy in Bulgaria for Iglika copper-gold skarn. Property has 42,000m of historical drilling, mostly focused on skarn. Velocity primarily exploring for epithermal gold.
EXPLORATION
  • Drilling and geophysics planned

The Iglika project is located approximately 170 km by road from the modern CIL processing plant of Velocity's Bulgarian partner.

The 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. 

Project Highlights

  • Under-explored property, located in a highly prospective precious and base metal mineral belt
  • Potential for both epithermal gold and porphyry copper deposits
  • Existing surface geochemistry and multiple drill-ready targets

Historical Estimates

An estimate is registered with the Ministry of Energy in Bulgaria for Iglika copper-gold skarn. Approximately 42,000m of historical drilling has been completed on the Iglika property, most of which was focused on the Iglika copper-gold skarn deposit, which is not of immediate interest to Velocity.

Priority Targets and Planned Exploration

Velocity will be principally targeting epithermal gold systems with surface exploration and drill testing – several drill targets exist on the large property package.  Geophysical surveys will be undertaken on the copper porphyry targets in order to determine the best path forward.

Lalkovo – Epithermal gold target – historical exploration trenching returned 40.7m grading 1.18 g/t gold.  A single drill hole in this area intersected 6.5m grading 1.02 g/t gold.

Voden – Epithermal gold target with abundant anomalous surficial rock samples, including grab samples up to 9.56 g/t gold and trench sampling up to 4m grading 1.31 g/t gold.

Koruba – Outcropping porphyry copper mineralization with associated large untested copper anomaly.

Sharkovo – Porphyry target defined by an extensive magnetic anomaly under recent cover.

Iglika – The Iglika copper-gold skarn deposit is not of immediate interest to Velocity as a target.  The diorite intrusion peripheral to the skarn mineralization was not systematically sampled and is known to be mineralized.

Iglika Property Targets

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