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Velocity Minerals releases NI 43-101 resource estimate for Mt Haskin molybdenum deposit

Published: 19:27 08 Jun 2009 BST

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Velocity Minerals Ltd (TSX: VLC) said it has received a NI 43-101 compliant mineral resource estimate report dated May 28 2009 for its Mt. Haskin molybdenum deposit in British Columbia showing inferred resources of  15.477 million tonnes at a 0.0816 percent cut-off grade for  2.782 pounds of molybdenum.

The resource estimate was prepared based upon a 13 holes drill program completed by Velocity in 2008 and historical drill log and analytical information for 24 holes drilled by Della Mines Ltd.

The mineralized zone is only partially delineated and may be expanded by further exploration work. Geophysical surveys and additional diamond drilling are recommended by the author of the report, the company added.

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