The Iglika project is located approximately 170 km by road from the modern CIL processing plant of Velocity's Bulgarian partner.
The project is located in the westernmost portion of the prolific Tethyan belt that transects Bulgaria and hosts a number of epithermal gold and porphyry copper-gold mineral deposits and operating mines.
- Under-explored property, located in a highly prospective precious and base metal mineral belt
- Potential for both epithermal gold and porphyry copper deposits
- Existing surface geochemistry and multiple drill-ready targets
An estimate is registered with the Ministry of Energy in Bulgaria for Iglika copper-gold skarn. Approximately 42,000m of historical drilling has been completed on the Iglika property, most of which was focused on the Iglika copper-gold skarn deposit, which is not of immediate interest to Velocity.
Priority Targets and Planned Exploration
Velocity will be principally targeting epithermal gold systems with surface exploration and drill testing – several drill targets exist on the large property package. Geophysical surveys will be undertaken on the copper porphyry targets in order to determine the best path forward.
Lalkovo – Epithermal gold target – historical exploration trenching returned 40.7m grading 1.18 g/t gold. A single drill hole in this area intersected 6.5m grading 1.02 g/t gold.
Voden – Epithermal gold target with abundant anomalous surficial rock samples, including grab samples up to 9.56 g/t gold and trench sampling up to 4m grading 1.31 g/t gold.
Koruba – Outcropping porphyry copper mineralization with associated large untested copper anomaly.
Sharkovo – Porphyry target defined by an extensive magnetic anomaly under recent cover.
Iglika – The Iglika copper-gold skarn deposit is not of immediate interest to Velocity as a target. The diorite intrusion peripheral to the skarn mineralization was not systematically sampled and is known to be mineralized.
Iglika Property Targets