Progress For Victoria Gold’s Eagle Mine
I’ve been covering Victoria Gold for 11 years. It’s good to see the progress being made, it’s also good to see the exploration work being done and the new deposits being added to the Eagle Mine. Victoria Gold’s progress to date has been impressive. They’ve done a great job of getting the project permitted, finding more gold and now with construction starting, it’s a good sign that things are going to be up and running by 2019 with production. Once in production Victoria gold will be producing over two hundred thousand ounces a year for over ten years at a cash cost of below five hundred and fifty US.
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 shovel-ready 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.
The Eagle Gold Project shows the ideal combination of significant mineral endowment, a desirable location with existing infrastructure and a strong, experienced management team. Historically, the Yukon has been a productive region for gold and this property contains a constrained in-pit resource of Measured and Indicated Mineral Resource 3,6 million ounces of gold (180 million tonnes grading 0.63 g/t) with an industry low waste-to-ore ratio of < 1:1 and metallurgical characteristics favourable to lower-cost heap leach processing. The project has good road access, is near to hydroelectric power and is in a progressive mining friendly jurisdiction.
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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