Velocity Enters into Option Agreement to Acquire up to 75% Interest in the Zlatusha Copper-Gold Property in Bulgaria
Retrieved on:
Tuesday, January 24, 2023
The Option consists of a first option to acquire up to a 51% interest (the “First Option”) and a second option (the “Second Option”) to acquire an additional 24% (aggregate 75%) interest in and to the Property.
Key Points:
- The Option consists of a first option to acquire up to a 51% interest (the “First Option”) and a second option (the “Second Option”) to acquire an additional 24% (aggregate 75%) interest in and to the Property.
- “Acquisition of the Zlatusha prospecting license has been a high priority for Velocity in recent months,” stated Keith Henderson, Velocity’s CEO.
- Velocity’s due diligence identified several magmatic-hydrothermal centers with outcropping copper-gold mineralization hosted in rocks of favourable upper Cretaceous age and composition.
- No modern systematic exploration has been carried out and the Company considers the Property prospective for discovery of additional deposits.