To begin commercial production late Q2 at the Eagle Gold Mine
Victoria Gold’s Eagle Gold Mine is located in central Yukon. The mine is in production with its first gold pour on September 17, 2019. Further, the Company is on track to be in commercial production late Q2. In full production, the mine will produce over 200,000 ounces of gold per year.
Victoria Gold will also be focusing on its newest discovery, Raven, which sits east of the Eagle Gold Mine. “We have some very high-grade intercepts. We’ll be drilling right through until the end of October,” says President, Director & CEO, John McConnell.
About the Dublin Gulch Gold Property
Victoria Gold’s 100%-owned Dublin Gulch gold property (the “Property”) sits in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo.
Moreover, the Property covers an area of approximately 555 square kilometers, and is the site of the Company’s Eagle and Olive Gold Deposits. The Eagle Gold Mine is Yukon’s newest operating gold mine. Additionally, the Eagle and Olive deposits include Proven and Probable Reserves of 3.3 million ounces of gold from 155 million tonnes of ore with a grade of 0.65 grams of gold per tonne, as outlined in a National Instrument 43-101 Technical Report for the Eagle Gold Mine dated December 3, 2019.
The Mineral Resource under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for the Eagle and Olive deposits has been estimated to host 227 million tonnes averaging 0.67 grams of gold per tonne, containing 4.7 million ounces of gold in the “Measured and Indicated” category, inclusive of Proven and Probable Reserves, and a further 28 million tonnes averaging 0.65 grams of gold per tonne, containing 0.6 million ounces of gold in the “Inferred” category.
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