Velocity Minerals reports positive exploration results from the Zlatusha copper-gold deposit in Bulgaria.

Canadian company Velocity Minerals reported an ongoing exploration program on the Zlatusha exploration license in Bulgaria. The company has confirmed the presence of several magmatic-hydrothermal centers with copper-gold mineralization hosted in favourable Upper Cretaceous age rocks. Geophysical and geochemical surveys, mapping and prospecting have resulted in the discovery of several prospective targets.

Drilling is expected to commence in the first half of 2024 to discover copper-gold porphyry mineralization. To date, an aeromagnetic survey, land survey, radiometric measurements have been completed and work has been carried out on' 'mapping and prospecting.

A geological survey of the region has also been conducted, which has identified numerous copper showings.

Velocity Minerals Limited is engaged in precious metals and copper exploration in eastern Europe. The company has several projects in Bulgaria including Tintyava, Momchil, Nadezhda and Dangovo. It also holds a 100% interest in the Iglika project and has entered into an option agreement with DPM to acquire a 75% interest in the Zlatusha and Kalabak properties.