trending Market Intelligence /marketintelligence/en/news-insights/trending/mNFi1qiPFzCKpQY3v8e6Lg2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Velocity, Gorubso amend option deal over Makedontsi gold project in Bulgaria

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Essential Metals & Mining Insights, April 2021

Blog

Global M&A Infographic Q1 2021

Blog

COVID-19 Impact & Recovery: Private Equity


Velocity, Gorubso amend option deal over Makedontsi gold project in Bulgaria

Velocity Minerals Ltd. and Gorubso-Kardzhali AD amended an option agreement over the Makedontsi gold project in Bulgaria.

Makedontsi is one of the projects under an exploration alliance agreement from February 2018 that granted Velocity the right to acquire a 70% interest in Gorubso's properties.

Velocity said May 28 that it can now own the Makedontsi stake by delivering a National Instrument 43-101-compliant mineral resource estimate. The company had been required to produce a preliminary economic assessment.

Planned exploration will aim to determine if open pit mining is amenable for the Makedontsi deposit, which is near Gorubso's carbon-in-leach processing plant.

Initial work will focus on surface geochemistry and gradient array induced polarization surveys as well as a 1,000-meter drill program.