April 10 (SeeNews) - Canadian mineral exploration and development company Velocity Minerals said it has published a technical report for its Rozino gold project in southeast Bulgaria, providing resource estimates for a range of cut off grades.
"Highlights include: 17Mt @ 1.15g/t gold for 629,000 ounces at 0.5g/t cut-off grade and 8.2Mt @ 1.68g/t gold for 443,000 ounces at 0.8g/t cut-off grade," Velocity Minerals said in a statement last week.
The mineralized system remains open for expansion and drill testing is ongoing, the company added.
Velocity Minerals plans to publish a Preliminary Economic Assessment (PEA) in the second half of 2018, which will include an updated mineral resource estimate.
On completion of the PEA, the company will earn a 70% stake in the project.