# Velocity Receives Positive Drill Results from Iglika Copper-Gold Project, Southeast Bulgaria Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea--f461bac1-33a6-4b97-a6e2-db73f6e85e05 Original source: https://money.tmx.com/en/quote/VLC/news/4563035443341640/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea Publisher: tmx Original announcement: 2024-01-23T13:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Velocity Minerals Ltd. - Ticker: VLC - Exchange: TSX - Region: Bulgaria - Primary commodity: Copper - Secondary commodities: Gold - Document categories: Drill results, Other, Metallurgy - Extracted: 2026-09-13 06:59:35 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Velocity Minerals reported positive drill results from the Iglika copper-gold project in Bulgaria, highlighted by a 70.9m copper intercept in hole IDD-006. Trenching also yielded high-grade gold, including 1.0m at 12.3 g/t Au. A second drill rig has been mobilized to continue Phase II exploration. Reasoning: The drill results show significant continuity of copper mineralization \(>70m\) and high-grade gold in trenching, though true widths are not reported. - Positive factor: consistent copper mineralization over >70m - Positive factor: intersection of multiple diorite porphyry phases - Positive factor: correlation with geophysical magnetic modeling - Positive factor: high-grade gold trench results - Negative factor: true width not disclosed Facts used in scoring: 8 ## Classification and evidence **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: True thickness of mineralization is unknown and reported as drill core length. Evidence · text > True thickness of mineralization is unknown and reported as drill core length. **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: Release details QA/QC protocols including blanks, standards, and duplicates. Evidence · text > Field duplicate samples, blanks and independent controlled reference material \(standards\) are added to every batch. **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Drill Results (6) ### IDD-006 [Link to this fact](https://atlas-extractions.minestarters.com/news/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea--f461bac1-33a6-4b97-a6e2-db73f6e85e05#fact-drill-facts-0) Iglika · copper #### Identity - Hole ID: IDD-006 - Project: Iglika - Commodity: copper - Region: bulgaria - Reported Region: bulgaria - Ticker: VLC #### Geometry - Grade: 0.47 - Grade Unit: % - Intercept: 4 m - From: 99.5 m - To: 103.5 m - Intercept Depth: 99.5 m #### Classification - Sample Type: drill - Group ID: IDD-006:99.5-103.5 - Mining Method: unknown #### Location - Loc. Confidence: medium #### QA/QC - Laboratory: SGS Mineral Services - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-01-23T00:00:00.000Z Reasoning: High-grade copper intercept in a porphyry setting, though true width is not stated. - Negative factor: Apparent width only Evidence · text > 4.0m \(from 99.5m depth\) grading 0.47% copper #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Velocity also has a 70% interest in the Momchil property \(which includes the Obichnik project\), a 70% interest in the Na" ### IDD-006 [Link to this fact](https://atlas-extractions.minestarters.com/news/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea--f461bac1-33a6-4b97-a6e2-db73f6e85e05#fact-drill-facts-1) Iglika · copper #### Identity - Hole ID: IDD-006 - Project: Iglika - Commodity: copper - Region: bulgaria - Reported Region: bulgaria - Ticker: VLC #### Geometry - Grade: 1.77 - Grade Unit: % - Intercept: 1 m - From: 99.5 m - To: 103.5 m - Intercept Depth: 99.5 m #### Classification - Sample Type: drill - Group ID: IDD-006:99.5-103.5 - Mining Method: unknown #### Location - Loc. Confidence: medium #### QA/QC - Laboratory: SGS Mineral Services - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-01-23T00:00:00.000Z Reasoning: High-grade sub-interval within the 4.0m intercept. Evidence · text > including 1.0m grading 1.77% copper #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Velocity also has a 70% interest in the Momchil property \(which includes the Obichnik project\), a 70% interest in the Na" ### IDD-006 [Link to this fact](https://atlas-extractions.minestarters.com/news/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea--f461bac1-33a6-4b97-a6e2-db73f6e85e05#fact-drill-facts-2) Iglika · copper #### Identity - Hole ID: IDD-006 - Project: Iglika - Commodity: copper - Region: bulgaria - Reported Region: bulgaria - Ticker: VLC #### Geometry - Grade: 0.15 - Grade Unit: % - Intercept: 70.9 m - From: 430 m - To: 500.9 m - Intercept Depth: 430 m #### Classification - Sample Type: drill - Group ID: IDD-006:430-500.9 - Mining Method: unknown #### Location - Loc. Confidence: medium #### QA/QC - Laboratory: SGS Mineral Services - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-01-23T00:00:00.000Z Reasoning: Significant width of mineralization, providing geological continuity. - Positive factor: consistent copper mineralization over >70m - Negative factor: Apparent width only Evidence · table > 0.15 Context: 70.9 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Velocity also has a 70% interest in the Momchil property \(which includes the Obichnik project\), a 70% interest in the Na" ### IDD-006 [Link to this fact](https://atlas-extractions.minestarters.com/news/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea--f461bac1-33a6-4b97-a6e2-db73f6e85e05#fact-drill-facts-3) Iglika · copper #### Identity - Hole ID: IDD-006 - Project: Iglika - Commodity: copper - Region: bulgaria - Reported Region: bulgaria - Ticker: VLC #### Geometry - Grade: 0.26 - Grade Unit: % - Intercept: 4.7 m - From: 447.4 m - To: 452.1 m - Intercept Depth: 447.4 m #### Classification - Sample Type: drill - Group ID: IDD-006:447.4-452.1 - Mining Method: unknown #### Location - Loc. Confidence: medium #### QA/QC - Laboratory: SGS Mineral Services - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-01-23T00:00:00.000Z Reasoning: Sub-interval within the larger 70.9m intercept. Evidence · table > 0.26 Context: 4.7 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Velocity also has a 70% interest in the Momchil property \(which includes the Obichnik project\), a 70% interest in the Na" ### IDD-006 [Link to this fact](https://atlas-extractions.minestarters.com/news/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea--f461bac1-33a6-4b97-a6e2-db73f6e85e05#fact-drill-facts-4) Iglika · copper #### Identity - Hole ID: IDD-006 - Project: Iglika - Commodity: copper - Region: bulgaria - Reported Region: bulgaria - Ticker: VLC #### Geometry - Grade: 0.37 - Grade Unit: % - Intercept: 6 m - From: 464.7 m - To: 470.7 m - Intercept Depth: 464.7 m #### Classification - Sample Type: drill - Group ID: IDD-006:464.7-470.7 - Mining Method: unknown #### Location - Loc. Confidence: medium #### QA/QC - Laboratory: SGS Mineral Services - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-01-23T00:00:00.000Z Reasoning: Sub-interval within the larger 70.9m intercept. Evidence · table > 0.37 Context: 6.0 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Velocity also has a 70% interest in the Momchil property \(which includes the Obichnik project\), a 70% interest in the Na" ### IDD-006 [Link to this fact](https://atlas-extractions.minestarters.com/news/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea--f461bac1-33a6-4b97-a6e2-db73f6e85e05#fact-drill-facts-5) Iglika · copper #### Identity - Hole ID: IDD-006 - Project: Iglika - Commodity: copper - Region: bulgaria - Reported Region: bulgaria - Ticker: VLC #### Geometry - Grade: 0.21 - Grade Unit: % - Intercept: 24.5 m - From: 476.4 m - To: 500.9 m - Intercept Depth: 476.4 m #### Classification - Sample Type: drill - Group ID: IDD-006:476.4-500.9 - Mining Method: unknown #### Location - Loc. Confidence: medium #### QA/QC - Laboratory: SGS Mineral Services - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-01-23T00:00:00.000Z Reasoning: Sub-interval within the larger 70.9m intercept. Evidence · table > 0.21 Context: 24.5 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Velocity also has a 70% interest in the Momchil property \(which includes the Obichnik project\), a 70% interest in the Na" ## Metallurgical Results (2) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea--f461bac1-33a6-4b97-a6e2-db73f6e85e05#fact-metallurgical-facts-6) gold #### Identity - Commodity: gold - Region: bulgaria - Reported Region: Bulgaria - Ticker: VLC #### Test Work - Sample: Trenching at 4G target #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-23T00:00:00.000Z Reasoning: Strong gold grades from channel sampling in a quartz stockwork. Evidence · text > 7.8 m grading 2.37 g/t gold ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/velocity-receives-positive-drill-results-from-iglika-copper-gold-project-southea--f461bac1-33a6-4b97-a6e2-db73f6e85e05#fact-metallurgical-facts-7) gold #### Identity - Commodity: gold - Region: bulgaria - Reported Region: Bulgaria - Ticker: VLC #### Test Work - Sample: Trenching at 4G target sub-interval #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-23T00:00:00.000Z Reasoning: High-grade gold sub-interval. Evidence · text > including 1.0m grading 12.3 g/t gold ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.