Victoria Gold: Ramping up to >200,000 Ounces/Year
Expected to generate significant free cash flow with a near 20-year mine life
Victoria Gold Corp’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 over 200,000 ounces of Au per year for 11 years. The Reserve is 3.3 million ounces of gold. The deposit is open at depth and along strike. Exploration potential of the greater Dublin Gulch property is good and includes priority targets Olive-Shamrock, Bluto and Nugget-Raven.
Dublin Gulch Property
Victoria Gold’s 100%-owned Dublin Gulch gold property (the “Property”) is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year-round and is located within Yukon Energy’s electrical grid.
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. 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. 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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