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Velocity samples up to 56 g/t gold at Iglika project in Bulgaria

Canada s Velocity acquires 100% of Iglika gold project in Bulgaria

Canada s Velocity acquires 100% of Iglika gold project in Bulgaria Photo: Velocity Minerals / All rights reserved. SOFIA (Bulgaria), February 25 (SeeNews) - Canadian gold exploration company Velocity Minerals said on Thursday that it has acquired 100% interest in the Iglika copper-gold project and the associated exploration licence under a previously-agreed option deal. Velocity has exercised the right to acquire all of the shares of Bulgaria s Balkan Minerals Development, which holds the exploration licence for the project area, with the vendors retaining a 2% net smelter returns royalty capped at $5 million (4.1 million euro), Velocity said in a statement. At any time, 1.5% of the royalty can be purchased for $1.5 million.

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