The Makedontsi project is located within the Nadezhda property, in which Velocity has 70% ownership with Bulgarian partner Gorubso Kardzhali A.D. holding 30%.
The Makedontsi project is located in southeast Bulgaria, approximately 10km by road from Bulgarian partner Gorubso’s gold processing plant.
Mineralization is outcropping at Makedontsi. To the east, the mineralization is open where it is covered by a thin veneer of post-mineral limestone estimated to range from 10 to 30m thickness.
The deposit is open for expansion and requires systematic exploration to investigate its full potential and to deliver a mineral resource estimate prepared under NI 43-101.