Sunday 11th December 2016

Resource Clips


Posts tagged ‘Victoria Gold Corp (VIT)’

Yukon Liberals break Yukon Party’s 14-year grip on Yukon power

November 8th, 2016

by Greg Klein | November 7, 2016

Press time results:

  • Yukon Liberals 11 seats, 39% of popular vote
  • Yukon Party 6, 33%
  • New Democratic Party 2, 26%

The territory’s riding names evoke mining history but repeated enticements to the sector failed to keep the Yukon Party in power. On November 7 the YP’s 14 years of majority rule came to an end as the Yukon Liberals moved from third to first place, returning to government for the first time since 2002. The red surge claimed YP leader Darrell Pasloski’s Mountainview constituency.

Liberals end Yukon Party’s 14-year grip on power

Yukon’s legislative chamber gets a new seating arrangement
as the Liberals return to power. (Photo: Yukon Legislative Assembly)

The first MLA declared elected was Klondike incumbent and Liberal leader Sandy Silver. NDP leader Liz Hanson also won re-election in Whitehorse Centre.

On mining-related issues, the month-long campaign saw the YP supporting regulatory streamlining, an exploration tax credit, funding for industry groups and support for road and power infrastructure. The party also called for “Yukon-specific curriculum for geology and earth sciences, and an experiential trades program.”

The YP castigated opposition support for the federal carbon tax, “the most significant commitment that the Liberals made with respect to the mining sector.” The incumbents said it would boost residents’ costs overall, hitting the average placer mine with more than $230,000 in additional expenses.

Liberals countered that the territory fell significantly in Fraser Institute rankings of mining jurisdictions. The most recent FI Investment Attractiveness Index places Yukon 12th of 109 jurisdictions worldwide, but last in Canada. The previous year Yukon ranked sixth worldwide. In 2012 to 2013, and 2011 to 2012, the territory scored #1 globally.

Liberals end Yukon Party’s 14-year grip on power

Former teacher and placer miner
Sandy Silver becomes Yukon’s new premier. (Photo: Yukon Liberals)

Additionally, the Liberals said the YP “botched” the S-6 amendments to the Yukon Environmental and Socio-Economic Assessment Act and created regulatory uncertainty while “legal battles with First Nation governments have resulted in huge tracts of land being off limits to mining.”

Silver argued his was the only party with “a plan to work with First Nation governments to rejuvenate the mining sector.”

A former teacher who’s worked on a placer mine, Silver joined the Yukon legislature in 2011 and became Liberal leader in 2014.

The territory hosts development, exploration, prospecting and placer mining activity, not to mention reality TV shows. But commodity prices have reduced major mines to just one operation, Capstone Mining’s (TSX:CS) Minto copper-gold-silver open pit in central Yukon.

Among the more celebrated development projects is Coffee, nabbed by Goldcorp TSX:G last May in its $520-million takeout of Kaminak Gold. Goldcorp plans to revise the project’s feasibility study, conduct further community consultations and begin initial permitting studies. The company foresees initial gold production by the end of 2020.

Victoria Gold TSXV:VIT says its Eagle gold project at the Dublin Gulch property is “expected to be Yukon’s next operating gold mine.” The two-open pit proposal reached feasibility in September and has all major permits in place, the company says.

Western Copper and Gold’s (TSX:WRN) Casino project has been sent for review to the highest level of the Yukon Environmental and Socio-Economic Assessment Board. The company intends to optimize the project design to address concerns including the height of the proposed tailings dam.

Yukon’s home to about 37,500 residents.

Victoria reports Yukon Gold Results including 3.61 g/t over 19.5m

September 11th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningVictoria 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.”

View Company Profile

Contact:
John McConnell
President/CEO
416.866.8800

by Greg Klein

Victoria reports Yukon Gold Assays up to 1.03 g/t over 86.8m

March 6th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningVictoria Gold Corp TSXV:VIT announced drill results from the Eagle gold deposit of its Dublin Gulch property in central Yukon. Highlights include

0.99 g/t gold over 99 metres (including 1.83 g/t over 37 metres)
1.03 g/t over 86.8 metres (including 3.07 g/t over 18.6 metres)
0.97 g/t over 119.9 metres (including 3.85 g/t over 13.3 metres)
0.94 g/t over 239.7 metres (including 2.07 g/t over 47.2 metres)

President/CEO John McConnell commented, “The grades and thickness of gold mineralization encountered in this drilling endorses our belief that additional higher-grade material near surface can be captured early in the mine life and further improve on the strong cash flows and project economics shown by the feasibility study at Eagle.”

View Company Profile

Contact:
John McConnell
President/CEO
416.866.8800

by Ted Niles

Victoria reports Yukon Silver Assays including 382 g/t over 27.4m

January 12th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningVictoria Gold Corp TSXV:VIT announced drill results from the Rex-Peso zone of its Dublin Gulch property in Yukon. Highlights include

382 g/t silver over 27.4 metres (including 588 g/t over 17.7 metres)
82.8 g/t over 15.8 metres (including 167 g/t over 7.7 metres)

President/CEO John McConnell commented, “These exceptional silver results from Rex-Peso are only a few kilometres from the proposed Eagle Gold Mine and further demonstrate the extensive mineral endowment on the Dublin Gulch property.”

View Company Profile

Contact:
John McConnell
President/CEO
416.866.8800

by Ted Niles

Victoria reports Yukon Gold Assays up to 21.59 g/t over 3.1m

September 6th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningVictoria Gold Corp TSXV:VIT announced results from its Dublin Gulch Property in central Yukon. Highlights include 21.59 g/t gold over 3.1 metres (including 5.03 g/t over 6.1 metres), 1.64 g/t over 35.4 metres (including 2.48 g/t over 22 metres), 3.64 g/t over 15.2 metres, 7.7 g/t over 4.6 metres and 1.37 g/t over 29 metres (including 2.11 g/t over 16.8 metres).

President/CEO John McConnell stated, “With several years of intensive exploration at Dublin Gulch we continue to discover substantial mineralization that will complement our proposed Eagle Gold Mine.”

View Company Profile

Contact:
Katie Fedorowicz
IR Coordinator
416.866.8800 x 226

by Greg Klein