Victoria Gold: Good Forecast for 2021
Forecasting to produce between 180,000 and 200,000 ounces of gold in 2021
Victoria Gold’s Eagle Gold Mine poured its first gold in Q3, 2019 and achieved commercial production on July 1, 2020. In full production, the mine will produce 210,000 ounces of Au per year. Furthermore, the Reserve is 3.3 million ounces of gold and the mine life is +11 years. The deposit is open at depth and along strike. Also, the exploration potential of the greater Dublin Gulch property is good and includes priority targets Olive-Shamrock, Bluto and Nugget-Raven.
Victoria Gold’s 100%-owned Dublin Gulch gold 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. Moreover, 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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