Victoria Gold Corp. (TSX:VGCX) has revealed that it produced 24,358 ounces of gold during the first quarter of 2022.
“During the first quarter, we successfully completed a six-week winter maintenance program and resumed stacking ore on the heap leach pad,” President and CEO, John McConnell, said.
“As we head into spring, stacking rates will significantly increase along with gold production as fresh ore is placed under irrigation.”
Eagle Gold Mine First Quarter 2022 Operational Highlights
The company’s seasonal operations plan for 2022 included curtailment of ore stacking on the heap leach pad during the 90 coldest days of the year, January through March. During this time a six-week maintenance program on the crushing and stacking facilities was completed. Periods of exceptionally cold weather this year impacted Q1 operations.
Gold production in Q1 2022 was, as expected, seasonally low with limited ore stacking on the heap leach pad. Tonnes stacked on the heap leach pad in Q1 2022 were in line with Q1 2021.
Total tonnes mined were lower in Q1 2022 compared to the same period last year as the company has built up sufficient stockpiles throughout 2021, therefore further mining of ore was not advantageous.
Similarly, waste mined was lower; a reflection of the fact there was less waste to move in Q1 2022 compared to Q1 2021. Mining rates will increase in future quarters as ore stacking rates on the heap leach pad accelerate.
Both gold grade and metallurgical recovery continue to reconcile well against the Eagle reserve model.
About the Dublin Gulch Property
Victoria Gold’s 100%-owned Dublin Gulch gold property is 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 is accessible by road year round and is located within Yukon Energy’s electrical grid.
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 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/
