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Victoria Gold Announces Eagle Gold Mine Q2 2021 Production

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Victoria Gold Announces Eagle Gold Mine Q2 2021 Production

 

 

 

 

 

Victoria Gold Corp. (TSX:VGCX) produced 32,140 ounces of gold during the period April 1 to June 30, 2021; the second quarter of 2021. Year-to-date gold production is 58,899, an increase of 51% over the same period in 2020.

 

Eagle Gold Mine Second Quarter 2021 Production Results

 

    Q1 Q2 H1
Operating Data        
Ore mined millions of tonnes 1.6 2.3 3.9
Waste mined millions of tonnes 4.7 3.3 8.0
Total mined millions of tonnes 6.2 5.6 11.8
Strip ratio waste to ore 2.9 1.5 2.1
Mining rate 000’s of tonnes/day 69 62 65
Ore stacked on pad millions of tonnes 0.9 2.4 3.4
Ore stacked grade grams/tonne Au 0.87 0.81 0.82
Gold produced ounces 26,759 32,140 58,899
Q2 statistics may be subject to immaterial reconciliation variances.

 

“Q2 was another good quarter at Eagle and with increased ore stacked, we expect to see continued growth in quarter over quarter gold production,” stated John McConnell, President &CEO. “The plant modifications we made in Q4 2020 and Q1 2021 are really starting to pay off.”

 

Gold production in Q2 2021 was 32,140 ounces, a 12% increase from the same period of 2020. Ore and waste tonnes mined as well as strip ratio in Q2 2021 were similar to the same period of 2020. Tonnes stacked were 8% higher in the second quarter of 2021 versus the second quarter of 2020 and year-to-date were 10% higher compared to the same period last year.

 

Qualified Person

The technical content of this news release has been reviewed and approved by Paul D. Gray, P.Geo., as the “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

About the Dublin Gulch Property

Victoria Gold’s 100%-owned Dublin Gulch gold property is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers 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 kilometers, 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 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.

 

Posted July 12, 2021

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