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News Releases
| January 23, 2009 Velocity Minerals Ltd. - Final Mt Haskin Drill Results (Molybdenum). | |||||||||||||||||||||||||||||||||||||||||
VANCOUVER, BRITISH COLUMBIA -- (January 23, 2009) -- Velocity Minerals is pleased to announce assay results for the final 4 diamond drill holes from the 2008 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: The Company has received assay results for holes VEL-05-08, VEL-11-08, VEL-12-08 and VEL-013-08, the significant portions of which are as follows: Drill Hole VEL-05-08, an inclined hole (-70) with total depth 1125 feet, has the following intervals:
Drill Hole VEL-11-08, an inclined hole (-45) with total depth 546 feet, has the following interval:
Drill Hole VEL-12-08, an inclined hole (-45) with total depth 663 feet, has the following interval:
Drill Hole VEL-13-08, an inclined hole (-700) with total depth 968 feet, has the following interval:
Velocity's chairman, Kenneth Holmes, stated "Management was very pleased with the results of the recent drilling and we are hoping to have an updated resource calculation shortly, together with an outline of this coming season's work program." He added that "...the Company is well capitalized and eager to continue the development of its two molybdenum projects." 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: Investor Relations Velocity Minerals Ltd. Telephone: (604) 689-7411 Toll Free: (866) 920-0567 | |||||||||||||||||||||||||||||||||||||||||
You can view the Next News Releases item: Mon Jun 8, 2009, Releases a NI 43-101 Compliant Mineral Resource Estimation for Mt Haskin Property You can view the Previous News Releases item: Thu Nov 6, 2008, Velocity Minerals Ltd. -- Further Mt Haskin Drill Results (Molybdenum). You can return to the main News Releases page, or press the Back button on your browser. |