Forecasts Record Breaking Results In Q4
Victoria Gold Corp. (TSX-VGCX) achieved a number of production records at its Eagle Gold Mine in Canada’s Yukon Territory.
President and CEO, John McConnell, said the company produced 55,827 ounces of gold during the period July 1 through September 30, 2021. Year-to-date gold production is 114,726 ounces.
“The Eagle Gold Mine achieved many production records in the third quarter of 2021 including ore mined, total material mined, ore stacked on pad and gold produced,” Mr McConnell said.
“We anticipate the gold production record to be short lived as we expect production growth in the fourth quarter of 2021 and annual production growth into 2022.”
58% Production Jump
Gold production in Q3 2021 was 55,827 ounces, a 58% increase from the same period of 2020. Ore tonnes mined in Q3 2021 were 49% higher than the same period of 2020. Waste tonnes mined in Q3 2021 were 13% lower than the same period of 2020.
Total tonnes mined in Q3 2021 were 7% higher than the same period of 2020 while the strip ratio fell from 2.1 to 1.2 year over year. Tonnes stacked were 72% higher in the third quarter of 2021 versus the third quarter of 2020.
Victoria Gold’s 100%-owned Dublin Gulch gold propertyis situated in central Yukon Territory, Canada, approximately 375 km north of the capital city of Whitehorse, and approximately 85 km from the town of Mayo.
The Property covers an area of approximately 555 square km, and is the site of the company’s Eagle and Olive Gold Deposits. The Eagle Gold Mine is Yukon’s newest operating gold mine. The Eagle and Olive deposits include Proven and Probable Reserves of 3.3 million ounces of gold from 155 million tonnes of ore with a grade of 0.65 grams of gold per tonne, as outlined in a National Instrument 43-101 Technical Report for the Eagle Gold Mine dated December 3, 2019.
The Mineral Resource under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) for the Eagle and Olive deposits has been estimated to host 227 million tonnes averaging 0.67 grams of gold per tonne, containing 4.7 million ounces of gold in the “Measured and Indicated” category, inclusive of Proven and Probable Reserves, and a further 28 million tonnes averaging 0.65 grams of gold per tonne, containing 0.6 million ounces of gold in the “Inferred” category.
For further information please visit: https://vgcx.com/
