Aiming to Pour Gold in Fall 2019
John McConnell, CEO of Victoria Gold Corp. speaks about Canada’s next gold mine that is set to be in production this fall.
“We’re fully financed and in construction. Construction is about 65 percent complete and we’ll be in production in the fall of this year. The main project is Eagle in the Yukon. Geographically, it’s about the center of the Yukon and we’re currently building a power line and we’ll tie into Yukon Energy’s grid and have access to reasonably priced hydro electric power for the life of the mine. We’re really excited about our first gold pour in the fall of this year. It’s been 10 years from when we acquired the property. We went through exploration, development, feasibility studies, permitting, financing and now it’s all coming together with the first pour in the fall. It’s a project that’s in a safe jurisdiction. In full production will produce 200,000 ounces per year. At an all in sustaining cost of less than 750 per ounce. We’re in the lower quartile in terms of cost per ounce which means this little company we’ll be cash flowing over 100 million per year. So a very significant gold producer.” – John McConnell, CEO of Victoria Gold Corp.
Victoria Gold Corp. is a leading gold exploration and development company. The Company’s Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.7 million ounces of gold (123Mt @ 0.67 g/t). The Eagle Gold Project is currently under construction and when in production will produce ~200,000 ounces of gold annually at an operation cost of approximately $550 per ounce. The Project is permitted for construction and operations. Victoria’s shareholders are well positioned to participate in a highly leveraged gold play and construction of the largest gold mine in Yukon History.
Victoria Gold holds a strong cash position which enables the Company to advance Eagle development on a value add basis as we continue construction and near operations.
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