Gold in Eastern Europe
Velocity is an exploration and development company with a medium-term strategy to move towards gold production in Bulgaria. At the Balkan gold project, the Company envisions staged open pit mining of satellite deposits, underground mining and processing in a central CIL plant.
Velocity’s focus on potential gold production at the Balkan project is based on a February 2018 Exploration and Mining Alliance with an established Bulgarian operating company. The Alliance provides Velocity with exclusive access to an operating CIL gold processing plant, potential to earn a 70% interest in seven near-surface gold projects, and an opportunity to earn a 50% interest in an underground operating gold mine.
The Velocity management and Board have a wide-range of technical, operating, country and mine finance experience to advance development of the Balkan project.