This technical report presents the results of a Pre-feasibility Study for the Rozino Gold Project, located within the Tintyava Property in southeast Bulgaria.
Report context
The effective date of this Technical Report is 30 August 2020. The report has been prepared by CSA Global Consultants Canada Ltd for Velocity Minerals Ltd in accordance with National Instrument 43-101. The Rozino deposit is a low sulphidation epithermal gold deposit hosted within brecciated and conglomeratic Palaeogene sedimentary rocks. The mineralogy consists mainly of pyrite with traces of base metals and rare arsenopyrite, with gold occurring at sulphide mineral boundaries and less commonly as free grains or encapsulated inclusions. The Property lies within the municipalities of Ivaylovgrad and Krumovgrad, approximately 350 km by road east-southeast of Sofia, Bulgaria.
Processing route
Ore types and metallurgical testwork
The Rozino ore body comprises three ore types: Oxide (16%), Transitional (15%), and Sulphide (69%), each differentiated by the degree of weathering. Extensive metallurgical testwork was undertaken on a number of composites and variability samples considered representative of the deposit, ore types or certain constituent parts of it.
Proposed processing approach
It was concluded from the testwork that the optimal process for treating the Rozino mineralization is bulk flotation at a nominal grind size of 80% passing 75 µm (P₈₀ 75 µm). The proposed design is based on this bulk flotation approach.
Key reported parameters
| Parameter | Value | Basis |
|---|---|---|
| Nominal grind size (P₈₀) | 75 µm | Proposed design |
| Oxide ore proportion | 16% | Testwork classification |
| Transitional ore proportion | 15% | Testwork classification |
| Sulphide ore proportion | 69% | Testwork classification |
Project website: https://velocityminerals.com/projects/bulgaria/rozino/
Technical qualifications
This report summarizes forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those presented. The financial model is reported at 100% attributable equity and does not include any consideration of funding or funding costs. The Mineral Resource estimate was disclosed in accordance with NI 43-101. Technical works have been undertaken under the guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) report, “CIM Definition Standards for Mineral Resources and Mineral Reserves.” The Mineral Resource estimates are based on drilling information available on the 23rd of October 2019, with combined hole spacing varying from around 50 by 50 metres in central portions to around 100 by 100 metres in peripheral areas. Post-October 2019 drilling (19 holes in the Rozino area) was not included in Mineral Resource estimation.
Source: Velocity Minerals Ltd, Rozino Gold Project Pre-feasibility Study, Technical Report effective 30 August 2020, Sections 1.1, 1.2, 1.5, 1.6.
