May 17, 2025 — Velmont is pleased to announce that it has officially commenced its 2025 drilling and exploration program at its 100% owned gold project in the Irkutsk region of Russia. This project will become the company's most systematic and largest round of gold resource expansion exploration to date.
Two diamond drills have been used for core drilling
Preliminary drilling of 500 meters has been completed, and the total planned exploration depth will reach 5,000 meters
High-precision Lidar aerial surveys are carried out simultaneously to obtain topographic and geological structure data
Plans are made to cooperate with ground electrical measurement (IP) and soil sampling to further delineate the mineralized abnormal areas
The infrastructure in the project area is complete, including permanent field camps, stable power access and highway access
The project implements high safety standards and sustainable development policies throughout the project, and there has been no record of safety or environmental accidents so far
Our Russian team has successfully completed the field deployment, with zero safety incidents since the start, and all plans are progressing on time and on budget. In this round of drilling, we will focus on testing the possibility of the ore body extending to the northwest and southeast, and exploring the undeveloped metal anomaly area within the outer 12 km x 7 km range.
The project is located in the Russian Far East gold belt and is a typical granite intrusive gold deposit.
Since 2023, Velmont has identified several potential gold ± copper ± molybdenum ± silver geochemical anomalies in the area.
The main objectives of this round of drilling are:
Determine the extension of the known ore body boundaries
Test the deep mineralization corresponding to the surface soil anomalies
Provide a basis for future ore body modeling and resource estimation
The drilling equipment is provided by a professional geological contracting team that served Velmont in 2024
All drilling and sample collection follow the international NI 43-101 technical standard
The project leader is Alexey Morozov, the company's vice president and geologist, who has more than 20 years of experience in gold resource exploration
Velmont always follows strict environmental management and community communication mechanisms. All data will be publicly released on the company's official website and in the 2025 ESG report after the project phase results are formed.
Velmont – A stage for every golden dreamer to achieve success.