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Victoria Gold’s Eagle Gold Mine Produces 55,827 Ounces Gold in Q3 2021

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Victoria Gold’s Eagle Gold Mine Produces 55,827 Ounces Gold in Q3 2021

 

 

 

 

 

Victoria Gold Corp. (TSX-VGCX) produced 55,827 ounces of gold during the period July 1 through September 30, 2021. Year-to-date gold production is 114,726 ounces.

 

Eagle Gold Mine Third Quarter 2021 Production Results

 

    Q1 Q2 Q3 9
Months

YTD
Operating Data          
Ore mined millions of tonnes 1.6 2.3 3.1 7.0
Waste mined millions of tonnes 4.7 3.3 3.8 11.8
Total mined millions of tonnes 6.2 5.6 7.0 18.8
Strip ratio waste to ore 2.9 1.5 1.2 1.7
Mining rate 000’s of tonnes/day 69 62 76 69
Ore stacked on pad millions of tonnes 0.9 2.4 3.3 6.6
Ore stacked grade grams/tonne Au 0.87 0.81 0.90 0.86
Gold produced ounces 26,759 32,140 55,827 114,726

 

Numbers may be subject to immaterial reconciliation variances.

 

“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,” stated John McConnell, President & CEO. “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.”

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.

 

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 (“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.

 

Posted October 12, 2021

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