VICTORIA GOLD CORP. Assays for the final 23 of the 39 drillholes collared in 2023 have been received. Highlighted results are presented below: 4.52 g/t Au over 7.6m from 257.8m in NG23-190C 3.48 g/t Au over 11.7m from 182.9m in NG23-196C 5.83g/t Au over 31.4m from 44.6m in NG23-200C
'The 2023 Raven exploration season is now completed and, as these latest results demonstrate, has continued to identify high-grade gold mineralization both internally and externally to the current Raven deposit bounds,' stated
During the 2023 field season, 13,220m of diamond drilling was completed (39 holes at Raven) along with 1,282m of surface trenches (16 trenches at both Raven and Lynx), detailed structural/geological mapping and prospecting. Drilling in 2022 and 2023 tested an additional 400m of strike length from the 2022 maiden Raven Mineral Resource Estimate eastern limits. This drilling confirmed Raven mineralization over a strike length of 1.7 kilometers ('km'). Analytical results from these programs represent further confirmation of the Raven mineralization and Resource model, with long intervals of gold mineralization (such as 240.2m of 0.96 g/t Au) hosted within granodiorite lithologies punctuated by intervals of high grade massive sulphide veins (such as 1.0m of 49.10 g/t Au and 0.5m of 24.20 g/t Au).
The second half of the 2023 program, from which these assay results are derived, was split between exploratory drilling to the east of the Raven deposit, targeting further definition of the previously identified high-grade trend east of Raven and drilling internal to the current Raven Resource, targeting areas with previously limited data. This later aspect of the program was designed to increase the grade and confidence of the Raven Resource.
About Raven
Raven represents a potentially high-grade, on-surface gold deposit that lies in the extreme southeast contact of the Nugget Intrusive Stock within the surrounding
The Raven occurrence is hosted in a shear zone corridor on the southeast portion of the Nugget Stock, in close association with the intrusion-metasediment contact on the eastern side of the
Exploration drilling, trenching, and soil geochemical sampling at the Raven deposit in the 2018 through 2023 field seasons have repeatedly returned high-grade gold intersections accompanied by prolific visible gold occurrences along a major and consistently mineralized corridor, which has grown sequentially since its discovery in 2018. The Raven discovery was based largely from initial surface trenches constructed and sampled in the 2018 field season that exposed scorodite, bismuth, and siderite related sulphide veins under less than one meter of overburden/cover.
The
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property (the 'Property') is situated in central
The Property covers an area of approximately 555 square kilometers, and is the site of the Company's Eagle and
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed 'forward-looking statements'. Except for statements of historical fact relating to Victoria, information contained herein constitutes forward-looking information, including any information related to Victoria's strategy, plans or future financial or operating performance. Forward-looking information is characterized by words such as 'plan', 'expect', 'budget', 'target', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may', 'will', 'could' or 'should' occur, and includes any guidance and forecasts set out herein (including, but not limited to, production and operational guidance of the Corporation). In order to give such forward-looking information, the Corporation has made certain assumptions about its business, operations, the economy and the mineral exploration industry in general. In this respect, the Corporation has assumed that production levels will remain consistent with management's expectations, contracted parties provide goods and services on agreed timeframes, equipment works as anticipated, required regulatory approvals are received, no unusual geological or technical problems occur, no material adverse change in the price of gold occurs and no significant events occur outside of the Corporation's normal course of business. Forward-looking information is based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those described in, or implied by, the forward-looking information. These factors include the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, anticipated metal production, fluctuating metal prices, currency exchange rates, estimated ore grades, possible variations in ore grade or recovery rates, changes in accounting policies, changes in Victoria's corporate resources, changes in project parameters as plans continue to be refined, changes in development and production time frames, the possibility of cost overruns or unanticipated costs and expenses, uncertainty of mineral reserve and mineral resource estimates, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, final pricing for metal sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, requirements for additional capital, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possible outcomes of pending litigation and labour disputes, risks related to remote operations and the availability of adequate infrastructure, fluctuations in price and availability of energy and other inputs necessary for mining operations. Although Victoria has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in, or implied by, the forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding Victoria's expected financial and operational performance and Victoria's plans and objectives and may not be appropriate for other purposes. All forward-looking information contained herein is given as of the date hereof, as the case may be, and is based upon the opinions and estimates of management and information available to management of the Corporation as at the date hereof. The Corporation undertakes no obligation to update or revise the forward-looking information contained herein and the documents incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable laws.
Contact:
Tel: 604-696-6605
Email: ceo@vgcx.com
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