- 545.96 gt Gold and 219.0 gt Silver Sampled in Trench outside Current Pit Limits
at San Albino
- The ore reserves were reported based on mineral resources classified as Measured and Indicated within the economic pit limits
above the economic cut-off grade after due consideration of costs and physical constraints.
where [v.sub.i] represents the economic value of block i, N represents the total number of blocks in the block model, [x.sub.i] represents a binary variable corresponding to block i which takes the value 1 if block i is inside the ultimate pit limits
and 0 otherwise, and [P.sub.i] represents the predecessor group of block i.
In building the new economic pit limits
, the company has used commodity prices of USD750 per ounce gold, USD2.00 per pound copper, USD12.50 per ounce silver and USD12.50 per pound molybdenum.
The second phase has been under way for about four months (MJ, June 2, p.433), and the recent results confirm that extensions to mineralisation exist at depths of up to 150 m beyond the planned pit limits
in the Roby and North Roby zones.
The drill program aims to expand the mineralized envelope as currently defined by the 2018 PEA, testing for extensions to mineralization outside of the pit limits
as well as at depth,' stated Keith Henderson, Velocity's President & CEO.
Most these pits were mined to less than 50m and have significant mineralisation outside the pit limits
. It is a large mineralised system with gold hosted in saddle reef and shear structures often with near surface supergene enrichment.
Although most of the ore is in Chile, the open pit limits
extend into Argentina.
Most of these pits were mined to less than 50m and have significant shallow mineralisation outside the pit limits
. It is a large mineralised system with gold hosted in saddle reef and shear structures; high-grade shoots are known to plunge approximately 20-30A towards a bearing of 330A and nearsurface supergene enrichment is common.