Sedefche - Overview

Key Data

  • Option agreement to acquire 70% interest from Gorubso by drilling 5,000m
  • Existing, permitted mine design plan completed by Gorubso
  • Truckable to gold processing plant
  • Near surface epithermal gold deposit
  • The estimate is registered with the Ministry of Energy in Bulgaria. Explored through 45 trenches, 41 shafts and pits, 122 diamond drill holes, 3 mega trenches, and a metallurgical bulk sample excavated and processed at Gorubso’s gold processing plant.
  • More than 5,800m of drilling completed to date
  • Completing a range of due diligence activities including detailed metallurgical testing & review of mine plan
  • Establish 43-101 resource estimate

Velocity entered into an option agreement with Bulgarian partner, Gorubso Kardzhali A.D. in October 2019, to earn a 70% interest in the Sedefche gold project with a fully permitted near-surface historical Bulgarian registered estimate.  Velocity can earn the interest by completing 5,000m of drilling.  The Sedefche deposit is located in southeast Bulgaria, approximately 35 km by road from Gorubso’s modern CIL processing plant. 

The deposit remains open for expansion. A drill program will evaluate the feasibility of mining at Sedefche.

Historical Work

The Sedefche project has been explored through 45 surface exploration trenches, 41 exploratory shafts and pits, 122 drill holes of diamond drilling, 3 mega trenches with 86 vertical channel samples, and a metallurgical bulk sample excavated and processed at Gorubso’s gold processing plant.  The Project has been advanced through feasibility and environmental permitting in Bulgaria, resulting in the issuance of a mining concession. 

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