International news within the industry of mining and metal, Dec, 19 2018
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Canadian miner completes PEA for Bulgarian gold project

Photo: Velocity Minerals
Photo: Velocity Minerals
Published by
Jaroslaw Adamowski - 20 Sep 2018

Canada’s Velocity Minerals has com-pleted a preliminart economic assessment (PEA) for its Rozino gold project in Bulgaria, moving ahead the company’s plan to ac-quire a 70% stake in the investment.

"The aim is to build a multi-asset production profile that maintains annual production of more than 100,000 ounces of gold over a pe-riod in excess of 10 years," said Keith Henderson, the president and chief executive of Velocity Minerals, said in a statement.

The Canadian company says that mining of the Rozino deposit is to commence in 2022, and increase to a maximum of some 6.8 mil-lion tonnes per year.