• Reserves and Resources

Rozino Project – Mineral Resource Estimate

(effective date April 15, 2020)

Within $1,500/oz pit shell
Indicated Mineral Resource Estimate
Cut-off Grade
(g/t)
Tonnes
(Mt)
Gold Grade
(g/t)
Contained Gold
(koz)
0.2 27.2 0.72 630
0.3 20.5 0.87 573
0.4 15.5 1.04 518
0.5 12.0 1.22 471
0.6 9.42 1.40 424
Inferred Mineral Resource Estimate
Cut-off Grade
(g/t)
Tonnes
(Mt)
Gold Grade
(g/t)
Contained Gold
(koz)
0.2 0.49 0.7 11
0.3 0.38 0.8 10
0.4 0.29 0.9 8
0.5 0.23 1.0 7
0.6 0.17 1.2 7
  • Click to expand Notes
    • The selected base case Mineral Resources are reported at a cut-off grade of 0.3 g/t gold.
    • Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
    • The Mineral Resources have been classified and reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum “CIM Definition Standards - For Mineral Resources and Mineral Reserves” ("CIM Definition Standards").
    • 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.

Rozino Project – Mineral Reserves

(effective date August 20, 2020)

Probable Mineral Reserves
Ore Type Reserve
Category
Tonnes
(Mt)
Gold
Grade
(g/t)
Contained Metal
(koz Gold)
Metallurgical
Recovery (%)
Recoverable Metal
(koz Gold)
Oxide Probable 1.9 1.07 64 67.4 43
Transitional Probable 1.8 1.15 68 70.7 48
Sulphide Probable 8.1 1.27 332 83.3 277
Total Probable 11.8 1.22 465 79.3 368
  • Click to expand Notes
    • The Mineral Reserve disclosed herein has been estimated in accordance with CIM Definition Standards.
    • Mineral Reserves discard cut-off grade was 0.5 g/t gold.
    • Mineral Reserves are based on a $1,500/oz gold price.
    • Mineral Reserves account for mining dilution and ore loss.
    • Probable Mineral Reserves were based on Indicated Mineral Resources.
    • Sum of individual amounts may not equal due to rounding.

Obichnik Project - Mineral Resource Estimate

(effective date February 11, 2021)

Inferred Mineral Resource Estimate
Cut-Off Grade
(g/t)
Tonnes
(mt)
Gold Grade
(g/t)
Contained Gold
(x1,000oz)
0.2 5.9 0.9 171
0.3 4.4 1.1 156
0.4 3.5 1.3 146
0.5 2.8 1.5 135
0.6 2.3 1.6 118
0.7 2.0 1.8 116
0.8 1.7 2.0 109
  • Click to expand Notes
    • Mineral resources were estimated by Jonathon Abbott, a member of the Australian Institute of Geoscientists and employee of MPR Geological Consultants Pty Ltd of Perth, Australia.  Mr. Abbott is a Qualified Person, as defined by National Instrument 43-101.
Subscribe for Updates
Register Now
Velocity Minerals Ltd.

Register to receive news via email from Velocity Minerals Ltd.

* Required Fields
* Marketing permission: I give my consent for Velocity Minerals Ltd. to contact me via email using the information I have provided in this form for the purpose of news, updates and marketing.
What to expect: If you wish to withdraw your consent and stop hearing from us, simply click the unsubscribe link at the bottom of every email we send or contact us at info@velocityminerals.com. We value and respect your personal data and privacy. To view our privacy policy, please visit our website. By submitting this form, you agree that we may process your information in accordance with these terms.