• Iglika Project

    Copper-Gold Exploration in the Prolific Tethyan Belt

Project Summary

  • Large, 100%-owned exploration property located within the prolific Tethyan belt, which transects Serbia and Bulgaria. The Bulgarian portion of the belt has multiple active and historical mines, and yet is almost completely unexplored.
  • Project currently optioned out to Dundee Precious Metals who can earn a 75% interest in the project through cash payments of $1.75 million, completion of 40,000m of drilling, and delivery of a prefeasibility study.

The prospecting license is prospective for copper-gold porphyry, epithemal gold, and copper-gold skarn mineralization. The historical Iglika copper skarn was explored historically prior to Velocity’s ownership of the project.

Iglika Option Terms

Aggregate Cash PaymentUS$1,750,000 to Velocity
Drilling Commitment40,000 meters of drilling on the Property
Mineral Resource EstimateFund and deliver a mineral resource estimate on a deposit within the Property, prepared in accordance with NI 43-101
Prefeasibility StudyFund and deliver a prefeasibility study on a deposit within the Property, in accordance with NI 43-101
Formation of Joint VentureUpon exercising the Option, Velocity and Dundee will form a Joint Venture with Dundee owning 75% and Velocity 25%.
DilutionIf a participant's interest falls below 10%, they must transfer their interest to the other participant in exchange for a 2% net smelter returns royalty, half of which (1%) can be bought out for US$5,000,000 before a production decision.

Iglika Property Drill Program

Dundee Precious Metals has initiated a drill program consisting of 24 drill holes for a total of 10,000m to test copper–gold porphyry, skarn, and epithermal targets identified by geochemical and geophysical anomalies, as well as through detailed mapping, soil sampling, and geophysical surveys to refine drill targets further.

Maps & Sections

Subscribe for Updates
Register Now
Velocity Minerals Ltd.

Register to receive news via email from Velocity Minerals Ltd.

* Required Fields
* Marketing permission: I give my consent for Velocity Minerals Ltd. to contact me via email using the information I have provided in this form for the purpose of news, updates and marketing.
What to expect: If you wish to withdraw your consent and stop hearing from us, simply click the unsubscribe link at the bottom of every email we send or contact us at info@velocityminerals.com. We value and respect your personal data and privacy. To view our privacy policy, please visit our website. By submitting this form, you agree that we may process your information in accordance with these terms.