- The Obichnik deposit, located within the Momchil property in southeast Bulgaria is co-owned by Velocity (70%) and Gorubso Kardzhali A.D. (30%).
- Exploration is complete within the Obichnik property, but applications for prospecting licenses in the contiguous surrounding area will provide multiple opportunities for expansion when the applications are issued by the Bulgaria authorities – a project for future growth.
Project Summary
Exploration Details
Mineral Resource Estimate
(effective date December 6, 2021)
| Within US$1,500/oz pit shell | |||
|---|---|---|---|
| Inferred Mineral Resource Estimate | |||
| Cut-off Grade (g/t) | Tonnes (Mt) | Gold Grade (g/t) | Contained Gold (koz) |
| 0.3 | 3.2 | 1.2 | 123 |
- Click to expand Notes
- The selected base case Mineral Resource is reported at a cut-off grade of 0.3 g/t gold.
- Mineral resources that are not mineral reserves do not have demonstrated economic viability.
- The mineral resource disclosed herein has been estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum “CIM Definition Standards for Mineral Resources and Mineral Reserves” (CIM, 2014).
- Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Inferred Mineral Resources are considered too speculative geologically in nature to enable them to be categorized as Mineral Reserves and there can be no certainty that all or any part of an inferred mineral resources will ever be upgraded to Indicated Mineral Resources or Measured Mineral Resources.
The Mineral Resource Estimate has been approved for disclosure by Jonathon Abbott, BASc, MAIG, a member of the Australian Institute of Geoscientists and employee of MPR Geological Consultants Pty Ltd. Mr. Abbott is a Qualified Person, as defined by NI 43101. Mr. Abbott is independent of the Company.
Technical Reports
Photo Gallery
Obichnik, drilling1 of 3
Obichnik, landscape2 of 3
Obichnik, outcrop3 of 3
