Victoria Gold Provides Record Setting Gold Production and Corporate Update
September 12, 2021 at 12:00 pm EDT
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Victoria Gold Corp. have achieved record gold production at the Eagle Gold Mine, Yukon Territory and to provide a Corporate Update ahead of the Denver Gold Forum. Eagle’s August production of 20,744 ounces of gold represents a 65% increase from the same period of 2020. Moreover, ore tonnes stacked on the heap leach pad reported monthly record levels with the achievement of 1.2 and 1.1 million tonnes respectively. The Dublin Gulch Gold Camp 2021 mineral exploration campaign continues at full capacity with a threefold focus; the two on/near surface high-grade gold targets at Raven and Lynx as well as at the past-producing Rex-Peso high grade silver target just west of the Eagle Gold Mine. The planned 15,000 meter 2021 program is primarily concentrated on Raven where over 6,500 meters of drilling has already been completed. Five diamond drills are currently engaged at Dublin Gulch with approximately 10,000 meters of drilling completed to date from over 45 diamond drillholes in addition to over two kilometers of surface trenches. In total, approximately 6,300 drill core samples have been processed and sent for analysis where delays in the analytical laboratory have resulted in a significant backlog in assay results. Exploration is expected to continue into October for all target areas. At Raven, step-out drilling is testing over one kilometer of the prospective high-grade gold trend. In addition, four holes were collared at newly identified intrusion related mineralized zone, Whiskey Wrinkles, located halfway between the Raven and Lynx zones. At Lynx, a systematic surface trench program opened the 2021 season with subsequent geological mapping and sampling across the 600 meters of defined anomalous gold mineralized trend. To date, over 1,700 meters of drilling has been completed from eight holes of a planned 14 hole, 2,500 meter program. The Rex-Peso diamond drilling program commenced in mid-July and consists of one dedicated diamond drill rig targeting the high-grade silver veins known to exist just west of Eagle. These veins were mined by previous operators in the 1960’s with only limited exploration conducted beyond the footprint of the underground workings. To date, 12 holes have been completed along the Rex vein for a total of approximately 2,100 meters. 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.
Victoria Gold Corp. is a Canada-based gold mining company. The Company is engaged in the operation, exploration and acquisition of mineral properties. Its flagship asset is its 100% owned Dublin Gulch property, which includes the Eagle Gold Deposit, the Olive Deposit, Raven Gold Deposit, the Wolf Tungsten Deposit, the Potato Hills Trend, including the Nugget, Lynx, Popeye, Rex-Peso, East Potato Hills, Eagle West, Falcon, as well as other targets. The Dublin Gulch Project is situated in central Yukon, Canada, approximately 375 kilometers north of the capital city of Whitehorse. The property covers an area of approximately 555 square kilometers, is accessible by road year-round and is powered by the Yukon energy grid. The Eagle and Olive deposits include probable reserves of approximately 3.3 million ounces of gold from 155 million tons of ore with a grade of 0.65 grams of gold per ton. It also holds Brewery Creek property, as well as the Gold Dome and Grew Creek exploration properties.