Victoria Gold Corp TSXV:VIT announced results from its Eagle Gold Project in central Yukon. Highlights include
3.61 grams per tonne gold over 19.5 metres
(including 35.4 g/t over 1 metre)
1.2 g/t over 43.5 metres
1.62 g/t over 31.4 metres
6.66 g/t over 7.5 metres
(including 15.87 g/t over 3 metres)
2.35 g/t over 13.7 metres
(including 12.2 g/t over 2.1 metres)
0.87 g/t over 40.8 metres
True widths were not available. Depths extend to 353 metres.
The company states its Eagle Gold Deposit is expected to be Yukon’s next operating gold mine. It includes probable reserves of 92 million tonnes grading 0.78 g/t gold for 2.3 million gold ounces. An indicated resource estimates 222 million tonnes averaging 0.68 g/t for 4.9 million gold ounces, including probable reserves. An inferred resource estimates 78 million tonnes averaging 0.6 g/t for 1.5 million gold ounces.
The property is 80 kilometres by year-round road from the town of Mayo and lies within Yukon Energy’s service area. The company has constructed a 100-person all-season camp at the property, which covers approximately 650 square kilometres.
President/CEO John McConnell remarked, “Our Eagle drill program was a strong success. We targeted wide zones within and adjacent to the Eagle open-pit limits with the potential to produce higher-grade, near-surface early in the mine life. This work will support optimization of the mine planning to further boost cash flows in the initial years of production.”
by Greg Klein