Multiple Near Surface Projects & Central Processing Plant
|Rozino Project||70% interest|
|Obichnik Project||Option Agreeement to earn 70% interest|
|Makedontsi Project||Option Agreeement to earn 70% interest|
|Sedefche Project||Option Agreeement to earn 70% interest|
|Processing Plant||Access to operating CIL plant|
‘Hub & Spoke’ Development Strategy
Velocity’s strategy is to establish a low-cost centralized ‘hub & spoke’ development model whereby multiple projects produce gold concentrates for trucking to a central processing plant for production of doré. The Company envisions staged open pit mining of satellite deposits and processing in a currently operating processing plant.
Exploration and Mining Alliance with Bulgarian Partner
Velocity formed an Exploration and Mining Alliance with Gorubso Kardzhali A.D., an established Bulgarian operating partner, in February 2018. The Alliance covers all existing and future Gorubso and Velocity projects within an area of 10,400km2 covering the prospective Eastern Rhodope Gold Mining District in southeastern Bulgaria. The Alliance also provides Velocity with access to an operating CIL plant.
Velocity earned a 70% interest in the Rozino project through delivery of a Preliminary Economic Assessment. Velocity has entered into option agreements to earn a 70% interest in three other gold projects.