Velocity’s strategy is to develop a low cost ‘Hub & Spoke’ operation whereby multiple gold projects produce gold concentrates for trucking to a central processing plant for production of doré.
Building a multi-asset production profile with a proven development model
‘Hub & Spoke’ Development Strategy
Multiple Near Surface Deposits
Velocity completed a revised prefeasibility study at the Rozino gold project in December 2021 and has a pipeline of exploration projects at various stages of development in a prospective gold belt in southeastern Bulgaria.
Project Ownership Interest
Exclusive Access to Gold Processing Plant
An existing central processing plant is operated by our established Bulgarian operating partner, Gorubso Kardzhali A.D. The plant has the potential to produce approximately 200,000 ounces of gold per year, assuming a gold concentrate feed.
Securing use of the processing plant provides Velocity with potential capital and time savings. The processing plant is the only plant of its kind in Bulgaria and access to it is a strategic advantage for Velocity.
Pipeline of Projects and Exploration Drill Targets
Velocity has multiple exploration projects in southeastern Bulgaria. The stage of development of the projects varies from early-stage discovery through to advanced engineering. Velocity also has an extensive project generation program to identify new projects of interest. The aim of each project is to ultimately produce concentrate feed for the central gold processing plant
Velocity has a 70% interest in the Tintyava property, which includes the Rozino project, a 70% interest in the Momchil property, which includes the Obichnik project, a 70% interest in the Nadezhda property, which includes the Makedontsi project, and a 100% interest in the Iglika property.
Technical information contained in this website has been approved by Daniel Marinov, MAIG RPGeo, a Qualified Person as defined by NI 43-101 and the Company’s Vice President Operations. Mr. Marinov is not independent of the Company as he is a director, officer and shareholder of the Company.