Victoria Gold Expected to be Pouring Gold by the End of Next Year
Victoria Gold’s Eagle Gold Project is expected to be in production by the fourth quarter of next year.
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). Currently under construction, when in production will produce ~200,000 ounces of gold annually. The operation cost will be about $550 per ounce.
Victoria’s shareholders can expect 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, while continuing construction and near operations.
Eagle Gold Mine
The proposed Eagle gold mine will produce doré from a conventional open pit operation. The gold recovery plant operates with a three-stage crushing plant, in-valley heap leach and carbon-in-leach adsorption-desorption process.
Currently, the company has year-round road access to the site. The fully operational 250-person all-season camp on site is located about 45 km by road from the grid power. Also, there is also an airstrip suitable for commercial planes 80 km to the south.
The project will employ 350-400 people and will be a significant economic contributor to Yukon.
The Eagle Gold Project holds all major permits for construction and operations. It has just completed the Environmental Assessment process. Because it lies within the traditional territory of local Nacho Nyak Dun First Nation, they have also a Comprehensive Cooperation and Benefits Agreement.
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