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News Releases
| November 06, 2008 Velocity Minerals Ltd. -- Further Mt Haskin Drill Results (Molybdenum). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VANCOUVER, BRITISH COLUMBIA - (November 6, 2008) - Velocity Minerals Ltd. (TSX: VLC) is pleased to announce further assay results for the 2008 diamond drilling program on its Mt. Haskin property near Cassiar in Northern British Columbia. Thirteen drill holes with total length 11,244 feet were designed to confirm and possibly expand the historically reported non-NI 43-101 compliant molybdenum resource of 13.5 million tons grading 0.157% MoS2 (0.094% Mo). Attached below is a map showing the locations of the historical drilling by Della Mines and the locations of the Company's 2008 drill holes: Two of the holes, VEL-02-08 and VEL-03-08, previously announced (October 6, 2008) had intersections that carried molybdenum at levels greater than 2000 parts per million. Those samples have been re-assayed by Acme Analytical Laboratories Ltd. and the results for those holes have been updated as follows: Drill Hole VEL-02-08, a vertical hole with a total depth 605 feet, has a near surface interval from 22 - 150 feet (128 feet) grading 0.132% Mo Drill Hole VEL-03-08, a vertical hole with total depth 595 feet, has a near surface interval from 15 - 125 feet (110 feet) grading 0.157% Mo, which includes an interval from 70 -105 feet (35 feet) grading 0.20% Mo.. The hole also has a deeper interval from 223 - 311 feet (88 feet) grading 0.154% Mo, which includes a interval from 223 -- 255 feet (32 feet) grading 0.26% Mo.. The Company has also received assay results for holes VEL-04-08, VEL-06-08, VEL-07-08, VEL-08-08, VEL-09-08, VEL-10-08, the significant portions of which are as follows: Drill Hole VEL-04-08, a vertical hole with total depth 1095 feet, has the following intervals:
Drill Hole VEL-06-08, an inclined hole (-70) with total depth 867 feet, has the following intervals:
Drill Hole VEL-07-08, an inclined hole (-45) with total depth 726 feet, has an interval from surface to 356 feet grading 0.06% Mo, which includes the following intervals:
Drill Hole VEL-08-08, an inclined hole (-45) with total depth 586 feet, has a near surface interval from 26 to 376 feet (350 feet) grading 0.09% Mo, which includes the following intervals:
The hole also has a deeper interval from 416-421 (5 feet) grading 0.78% Mo. Drill Hole VEL-09-08, an inclined hole (-45) with total depth 1016 feet, has an interval from 366 - 561 feet (195 feet) grading 0.095% Mo, which includes the following intervals:
Drill Hole VEL-10-08, an inclined hole (-700) with total length 1888 feet (approximately 1780 feet below surface), has the following intervals:
The Company is still awaiting assays results for the final four holes. Velocity Minerals Ltd. is a company dedicated to the acquisition and development of advanced or high-grade molybdenum mineral properties. Velocity presently owns the mineral rights to two molybdenum projects in northern British Columbia (Mt. Haskin and Cassiar Moly) and is actively pursuing other properties in North America and internationally. Technical information presented in this news release has been reviewed and approved by the Company's Qualified Person, Erik A. Ostensoe, P. Geo. Kenneth R. Holmes, Chairman. The TSX has neither approved nor disapproved of the information contained herein. Contact: Frank Lagiglia Investor Relations Velocity Minerals Ltd. Telephone: (604) 689-7411 Toll Free: (866) 920-0567 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
You can view the Next News Releases item: Fri Jan 23, 2009, Velocity Minerals Ltd. - Final Mt Haskin Drill Results (Molybdenum). You can view the Previous News Releases item: Mon Oct 6, 2008, Velocity Minerals Ltd.-Initial Mt. Haskin Drill Program Progress Report You can return to the main News Releases page, or press the Back button on your browser. |