#: locale=en
## Action
### URL
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## Hotspot
### Tooltip
HotspotPanoramaOverlayArea_71B7DE4F_6817_7809_41D5_2E61C4EDA12B.toolTip = OLIVE DEPOSIT
HotspotPanoramaOverlayArea_7F653B03_667C_C1B9_41B5_DB47DE595000.toolTip = OLIVE DEPOSIT
## Media
### 360 Video
### Floorplan
### Image
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### Popup Image
### Title
media_794DCF68_680D_F837_41A3_F7819A5D17DD.label = 2020-03-13 blast
photo_35E85649_7333_32A9_41D7_6E8468ABEE27.label = 2022-06 - ADR
photo_3617F8E2_7333_3F9A_41D5_1B4188347971.label = 2022-06 - ADR2
photo_3617BB7E_7333_316A_41CA_655930D4830D.label = 2022-06 - ADR3
photo_3617EE67_7333_329A_41C8_4CE508A64578.label = 2022-06 - ADR4
photo_3617A101_7333_2E99_41DB_06C05450E295.label = 2022-06 - ADR5
photo_35051BEE_7333_F16B_41CC_737EFD93423B.label = 2022-06 - Camp
photo_D10AB5F8_CFE9_3C1D_41E4_2440E266E0AD.label = 2022-06 - Crushers
photo_35F2EB1E_7333_72AB_41DA_431DBDA436FB.label = 2022-06 - Heap Leach
photo_35EB4683_7335_3399_41DA_3B4E65726FAF.label = 2022-06 - Heap Leach 2
photo_36172ED6_7333_73BB_41DA_7763FC3A9BF2.label = 2022-06 - Heap Leach2
photo_348A6037_7334_EEF9_41C1_4CA7116B2F36.label = 2022-06 - Open Pit 001
photo_3632530C_7334_D2AE_41CC_3FA3609BCD96.label = 2022-06 - Open Pit 002
photo_363225A0_7334_D197_41D0_F3BA8E53CA97.label = 2022-06 - Open Pit 003
photo_3297D5AA_120E_A959_4197_05D0E95958F4.label = 210701-Eagle Gold Mine labeled site
album_B130D9A7_913B_DC5C_41BD_33B6DC2EBC8A_0.label = 8U8A4430
album_B130D9A7_913B_DC5C_41BD_33B6DC2EBC8A_1.label = 8U8A4436
album_B130D9A7_913B_DC5C_41BD_33B6DC2EBC8A_2.label = 8U8A4440
album_B130D9A7_913B_DC5C_41BD_33B6DC2EBC8A_3.label = 8U8A4443
panorama_540F0488_5E3D_54F4_41CE_1979B350E849.label = Cafeteria
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album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_9.label = Camp 10
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_10.label = Camp 11
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_11.label = Camp 12
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_12.label = Camp 13
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_13.label = Camp 14
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_14.label = Camp 15
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_15.label = Camp 16
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album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_3.label = Camp 4
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_4.label = Camp 5
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album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_6.label = Camp 7
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_7.label = Camp 8
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515_8.label = Camp 9
album_6AC7961B_647D_309F_41BF_1343EB638894.label = Coarse Ore Conveyot
panorama_D0527F58_D003_2C25_41CC_24A4336EC6C4.label = Crushers
photo_5C43E4C4_736F_684D_41CF_B638B25E3DD4.label = DJI_0003
album_B130D9A7_913B_DC5C_41BD_33B6DC2EBC8A_4.label = DJI_0014-2
album_B130D9A7_913B_DC5C_41BD_33B6DC2EBC8A_5.label = DJI_0018
photo_58EFED45_736F_784E_41D6_DC0476509C5B.label = DJI_0053
photo_58EE45DE_736F_687D_41D3_6986C1545BEA.label = DJI_0081
photo_58EE1E15_736F_5BCF_41D3_BC5D4E5DC019.label = DJI_0081-2
album_6AEED950_647D_50E9_41CC_FD1CDE6E5515.label = Eagle Camp
panorama_70FF2307_640E_B6F6_41C4_D141E1E0351C.label = Eagle Camp
video_7EEFB955_6815_D819_41BD_F4321C3DC45D.label = Eagle Gold Mine Construction – Gold Recovery Plant
video_7D8B25E9_6814_C808_41C2_07C943E2A6CB.label = Eagle Gold Mine Construction – Heap Leach Facility
video_794DB76A_683D_4808_41D2_732D74CF37E7.label = Eagle Gold Mine Construction – Primary Crusher
video_79ABBC48_680B_5877_41BA_D3246B4412D3.label = Eagle Gold Mine Construction – Secondary_Tertiary Crusher
map_5DF066D4_732B_684D_41B9_DA9BA3BF4D5F.label = Exp Target Map
panorama_9D698AFB_912A_5DB4_41D7_272E8EEA06B9.label = Exploration – Dublin Gulch East
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album_6AF6D919_6473_709B_41D5_6FE3782562FD_9.label = Fleet 10
album_6AF6D919_6473_709B_41D5_6FE3782562FD_10.label = Fleet 11
album_6AF6D919_6473_709B_41D5_6FE3782562FD_11.label = Fleet 12
album_6AF6D919_6473_709B_41D5_6FE3782562FD_12.label = Fleet 13
album_6AF6D919_6473_709B_41D5_6FE3782562FD_13.label = Fleet 14
album_6AF6D919_6473_709B_41D5_6FE3782562FD_14.label = Fleet 15
album_6AF6D919_6473_709B_41D5_6FE3782562FD_15.label = Fleet 16
album_6AF6D919_6473_709B_41D5_6FE3782562FD_16.label = Fleet 17
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album_6AF6D919_6473_709B_41D5_6FE3782562FD_2.label = Fleet 3
album_6AF6D919_6473_709B_41D5_6FE3782562FD_3.label = Fleet 4
album_6AF6D919_6473_709B_41D5_6FE3782562FD_4.label = Fleet 5
album_6AF6D919_6473_709B_41D5_6FE3782562FD_5.label = Fleet 6
album_6AF6D919_6473_709B_41D5_6FE3782562FD_6.label = Fleet 7
album_6AF6D919_6473_709B_41D5_6FE3782562FD_7.label = Fleet 8
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panorama_D0539741_D001_FC24_41E6_BD62B51250AE.label = Gold Recovery Plant, Exterior
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panorama_540F7BED_5E3C_DC0C_41B3_0DCAC1A098A2.label = Gold Recovery Plant, Interior 2
panorama_540F7EBF_5E3D_540C_41BF_BDD246A49572.label = Grid Power Connection
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album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_9.label = Grp 10
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album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_14.label = Grp 15
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_15.label = Grp 16
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_16.label = Grp 17
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_17.label = Grp 18
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_18.label = Grp 19
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_1.label = Grp 2
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_19.label = Grp 20
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_2.label = Grp 3
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_3.label = Grp 4
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_4.label = Grp 5
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_5.label = Grp 6
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_6.label = Grp 7
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_7.label = Grp 8
album_746DB2C0_6473_51E9_41BE_45A3CC4170BF_8.label = Grp 9
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album_759C7FC0_6475_6FE9_41C7_A5A21027134C_9.label = Heap 10
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album_759C7FC0_6475_6FE9_41C7_A5A21027134C_12.label = Heap 13
album_759C7FC0_6475_6FE9_41C7_A5A21027134C_13.label = Heap 14
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album_759C7FC0_6475_6FE9_41C7_A5A21027134C_2.label = Heap 3
album_759C7FC0_6475_6FE9_41C7_A5A21027134C_3.label = Heap 4
album_759C7FC0_6475_6FE9_41C7_A5A21027134C_5.label = Heap 6
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panorama_D05339F6_D001_37ED_41D1_F02CB4719593.label = Heap Leach Facility
panorama_D053708C_D001_343C_41A4_AA0864E09CFC.label = Heap Leach: Looking South
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photo_513EC96A_5F4D_AB7E_41CA_DC24D5C81DF4.label = John Intro
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album_75978CBF_6477_7197_41D7_27F29FC2BFA9_1.label = Lab 2
album_75978CBF_6477_7197_41D7_27F29FC2BFA9_2.label = Lab 3
album_75978CBF_6477_7197_41D7_27F29FC2BFA9_3.label = Lab 4
album_75978CBF_6477_7197_41D7_27F29FC2BFA9_4.label = Lab 5
album_75978CBF_6477_7197_41D7_27F29FC2BFA9_5.label = Lab 6
album_75978CBF_6477_7197_41D7_27F29FC2BFA9.label = Laboratory
panorama_9C8268AB_9129_DDAB_41D0_E3CE5F809B9A.label = Lynx Target
panorama_9D6AD0BE_912A_4DAC_41D9_FA50F8E21B21.label = Nugget - Raven - Camp
panorama_7DB048EF_72E5_585B_41C0_89F90F94AC00.label = Nugget - Raven - Core Shack
album_B130D9A7_913B_DC5C_41BD_33B6DC2EBC8A.label = Nugget-Raven Core Shed
panorama_781BE7AD_64CF_7FBB_41B2_6BA8E0203690.label = Olive Deposit
photo_5D6FAACE_7327_D85A_41CC_4BFDBE000487.label = Open Pit
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2.label = Open Pit
panorama_D0312EB7_D001_2C6B_41CD_0BB85F044A7E.label = Open Pit
panorama_D08BE591_D001_5C24_41E9_1DEE6401B9D7.label = Open Pit - Blast Area
panorama_D03C7114_D007_342C_41CA_21CA0DD56F68.label = Open Pit - Close
panorama_D08C0BDC_D006_EBDD_41E5_FF170F17D9F4.label = Open Pit - Drilling
panorama_D08C1D92_D006_EC25_41D4_E659BA5AED59.label = Open Pit - Loading
album_6AC7961B_647D_309F_41BF_1343EB638894_2.label = Ore 3
album_6AC7961B_647D_309F_41BF_1343EB638894_3.label = Ore 4
album_6AC7961B_647D_309F_41BF_1343EB638894_4.label = Ore 5
album_6AC7961B_647D_309F_41BF_1343EB638894_5.label = Ore 6
album_6AC7961B_647D_309F_41BF_1343EB638894_6.label = Ore 7
panorama_D0530B0D_D002_D43C_41E6_D40E4DAE0326.label = Overland Conveyor
panorama_C8BAFB40_D007_D425_41E1_169C9A078986.label = Overview: Eagle Gold Mine
album_75E62494_6475_5069_41B9_8BDB197F09C4_0.label = PGC 1
album_75E62494_6475_5069_41B9_8BDB197F09C4_1.label = PGC 2
album_75E62494_6475_5069_41B9_8BDB197F09C4_2.label = PGC 3
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album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_9.label = Pit 10
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_10.label = Pit 11
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_11.label = Pit 12
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_12.label = Pit 13
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album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_2.label = Pit 3
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_3.label = Pit 4
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_4.label = Pit 5
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_5.label = Pit 6
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_6.label = Pit 7
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_7.label = Pit 8
album_75A9E1C7_6477_33F7_41B5_99B41CA2A8F2_8.label = Pit 9
album_75E62494_6475_5069_41B9_8BDB197F09C4.label = Power Grid Connection
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album_767811CE_6475_53F9_41C5_E99999C52B82_2.label = Primary 3
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album_767811CE_6475_53F9_41C5_E99999C52B82_4.label = Primary 5
album_767811CE_6475_53F9_41C5_E99999C52B82_5.label = Primary 6
album_767811CE_6475_53F9_41C5_E99999C52B82_6.label = Primary 7
album_767811CE_6475_53F9_41C5_E99999C52B82.label = Primary Crusher
panorama_D052A79B_D003_DC24_41E4_38A7864DB6D0.label = Primary Crusher
panorama_7915DEF5_64CF_51AB_41C0_C2E9DA07716E.label = Project Boundaries
panorama_9D6B9D21_912A_5454_41D0_212E9CFC2635.label = Raven Target
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_0.label = Sec 1
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_9.label = Sec 10
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_10.label = Sec 11
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_1.label = Sec 2
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_2.label = Sec 3
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_3.label = Sec 4
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_4.label = Sec 5
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_5.label = Sec 6
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_6.label = Sec 7
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_7.label = Sec 8
album_765B7F51_6473_50E8_41C8_F3B81A4573F4_8.label = Sec 9
album_765B7F51_6473_50E8_41C8_F3B81A4573F4.label = Secondary Crusher
panorama_D052CF5D_D003_6CDF_41CA_4F6E9395B30F.label = Secondary/Tertiary Crusher
map_CE2A549A_C0E2_9812_41CA_94F1B81DBE37.label = Site Map
panorama_D08BFA2F_D001_347B_41E1_6539AEE81E1D.label = Top of the Open Pit
panorama_70A86C0E_6401_72F6_41D6_A483CB4EAB66.label = Truck Shop
panorama_772D9947_6402_B576_41C5_41E86596289B.label = Truck Shop Exterior
video_4CC09454_64B3_30E9_41CE_996495D6A459.label = Victoria Gold - Mint To Mint
video_4FE96038_5F43_98DA_41D2_2AB8E568DD15.label = Victoria Gold - Year in review - Road to Gold
panorama_7716B6BA_6402_FF1F_41CA_A28C2C0647BD.label = Waste Rock Facility
panorama_D08C50C8_D007_7424_41D2_F8AE7774839E.label = Water Treatment Plant
panorama_D08C2F29_D007_2C64_41B3_C37A0A0A67C6.label = Water Treatment Plant Int 1
panorama_D08C3FF2_D007_2BE5_41DA_052B398C34F4.label = Water Treatment Plant Int 2
panorama_540E2C49_5E3C_B475_41D1_14A4327B6CC9.label = Weight Room
photo_474EB3B5_736B_28CF_41D7_E9CE7C4B7FE9.label = gold-stack
### Video
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### Video Subtitles
## Popup
### Title
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window_25F72971_6407_F52B_41C4_FB62A29DF75D.title = GOLD RECOVERY PLANT
window_703CF422_6834_C83B_41CC_42FC6031056F.title = GOLD RECOVERY PLANT
window_D06EDDCA_D003_6C25_41D9_BD9095AC352B.title = GOLD RECOVERY PLANT
window_703D2A9F_6834_B809_41D7_A3B5296C072F.title = HEAP LEACH FACILITY
window_D06742FC_D001_55DD_41A3_FFB63C8FA7B8.title = HEAP LEACH FACILITY
window_79801F05_6407_8EEA_41CF_185898FB2680.title = HEAP LEACH FACILITY
window_CFFBFAA4_DBF4_DFD1_41E6_610FE5D2D0B5.title = HEAP LEACH FACILITY
window_7E892AA1_643F_F72B_41BB_DF17211AF071.title = HEAP LEACH FACILITY
window_D06B2FFB_D001_2BE4_41E3_C83E9B544BCB.title = HEAP LEACH FACILITY
window_D06EDDCC_D003_6C3C_41D1_33EAD0A623C4.title = HEAP LEACH FACILITY
window_42B7344D_6401_737A_41BE_CB7B7F742CF6.title = HEAP LEACH FACILITY
window_D05A4F71_D003_6CE7_41D6_9BFDE3201169.title = PRIMARY CRUSHER
window_796A9DA9_680D_F809_41D1_CD2E17740A49.title = PRIMARY CRUSHER
window_D05F707D_D001_34DC_41E8_EE6D7B47C47D.title = SECONDARY/TERTIARY CRUSHER
window_78F31456_680B_481B_41B0_70F4F5A35C6A.title = SECONDARY/TERTIARY CRUSHER
## Skin
### Button
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### Image
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### Label
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Label_4EAB3759_5F45_A75A_41B3_71A0A58D82CC.text = CLICK OR TAP THE SCREEN TO ACTIVATE YOUR VRTUOUS TOUR
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Label_69833628_6473_D0B9_41D6_B9EC251A29DE.text = COARSE ORE CONVEYOR
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Label_696A0E02_6473_F069_41B6_91C235A7C42D.text = EAGLE CAMP
Label_47D47A61_5EDD_5C34_41BA_29915739AAD7.text = EAGLE GOLD MINE
Label_47D47A61_5EDD_5C34_41BA_29915739AAD7_mobile.text = EAGLE GOLD MINE
Label_4ADD44DC_5F7E_995A_41CF_6186C090F10F_mobile.text = FLEET
Label_4ADD44DC_5F7E_995A_41CF_6186C090F10F.text = FLEET
Label_697E8C1A_6473_F098_418B_27C318E5A89E_mobile.text = GOLD RECOVERY PLANT
Label_697E8C1A_6473_F098_418B_27C318E5A89E.text = GOLD RECOVERY PLANT
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Label_6941A20A_6473_F079_41A9_B7EDF3E74D90.text = HEAP LEACH FACILITY
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Label_694CB4B2_6473_F1A9_41B8_625C243C194F.text = LABORATORY
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HTMLText_7000570F_6814_C809_41BF_F43A9C7CE7C5.html = ZONE: OLIVE-SHAMROCK
The 2019 Technical Report includes the addition of a satellite deposit, Olive, located approximately 2 kms from Eagle.
In Year 7, crushed Eagle ore will be conveyed to a secondary Heap Facility near Olive. In Year 9, a smaller open pit at Olive will come into production with all Olive ore to be processed on the secondary Heap Facility.
The Olive-Shamrock zone represents a shear hosted gold exploration target genetically related to the Eagle gold deposit: an intrusion-related gold system associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins.
The zone is located approximately 2 km from Victoria's Eagle gold deposit, is defined by a broad gold/arsenic in-soils geochemical anomaly, lies on the intrusive-sediment contact of the Potato Hills Trend (as is Eagle) and is punctuated by several historically exploited high-grade sulphide veins.
The Olive-Shamrock area was mined underground on a small scale from shallow shafts and adits in the early 1900's and via placer mining in creeks draining the area in the ensuing years.
The Olive vein system is located near the top of Olive Gulch and consists of gold-bearing quartz-scorodite-arsenopyrite vein material. Historic exploration was successful in identifying high-grade near surface mineralization over significant widths including: A 200 metre trench excavated and sampled in 1991 exposed a zone of quartz and quartz-arsenopyrite veins hosted in the Dublin Gulch granodiorite that averaged 1.2 g/t Au over 97.6 metres. Diamond drill hole 91-012C collared in the trench intersected 89.9m grading 1.08 g/t Au.
Nugget
The Nugget stock, the second largest intrusion on the Dublin Gulch Property (second only the Dublin Gulch Stock that hosts the Eagle Gold Mine), consists of an approximately 2.2-kilometre by 1.2-kilometre granodiorite. The Nugget stock is hosted in metasediments. Arsenic + gold soil anomalies occur along the edges of the Nugget stock. The Nugget intrusion is akin to the Eagle Deposit host rock, and has been the subject of limited historic exploration work due to historic inaccessibility of the area. Starting in 2017 an access trail was constructed and has, for the first time ever, allowed vehicular access to this high-priority target.
Historically, a gold-in-soils geochemical anomaly that graded from trace up to 1.12 g/t Au in soils has been defined along with associated first pass trench samples that graded from trace up to 2.38 g/t Au and grab samples from trace up to 1.35 g/t Au.
Mineralization encountered thus far consists of quartz-arsenopyrite and polymetallic veins occurring peripheral to and within the Nugget stock.
Zone: Lynx
The Lynx target is road accessible and located centrally in the Dublin Gulch claim block approximately 5 km southwest of Nugget/Raven; and is centred on a 400 by 700 m exposure of granodiorite stock that intrudes overlying metasediment package. The Lynx project exhibits similar characteristics to Victoria Gold’s Nugget and Raven exploration projects.
The Lynx target first demonstrated mineralization potential in the mid 1990’s with an encouraging preliminary drilling/trenching campaign, during the initial assessment of the Dublin Gulch Gold Camp; it received follow-up drilling in 2004, and has remained unexplored since.
Mineralization identified to date is concentrated along the contact between the intrusion and surrounding country rock, similar to much of the mineralization elsewhere on the Dublin Gulch claim block; and within the Potato Hills Trend. An interpretation of the diamond drilling and trenching completed to date suggests an east-west strike to mineralization and limited soil sampling conducted to the east and west of the prospect suggests continuity of mineralization in both directions. Mineralization intersected in diamond drilling is open at depth and along strike to the east and west, and soil data indicate Au in soil > 30 ppb to the east and west of the prospect.
Multiple significant mineralized intersections of gold have been identified from the small 2020 drilling campaign. Early-stage trench results are extremely encouraging, with two parallel trenches 385-m apart both ending in mineralization. The 2020 Exploration campaign consisted of 1609 soils, mapping, 720m trenches, 594.36 m DDH and the establishment of an exploration camp. Victoria’s 2021 program at Lynx is focused on drilling and trenching following up on the previous exploration campaigns to continue to delineate mineralization along strike and down dip. Results of the program are expected in late fall.
GRID POWER CONNECTION
Power to site is supplied via a new 45km 69kV transmission line from the Yukon Energy Corporation’s grid via the McQuesten Sub-Station located at the Silver Trail Highway turn-off to the mine site. The new line terminates at the mine sub-station where it is transformed down to 13.8kV for site wide distribution via over-head and buried cables to the mine facilities.
The mine has a 4.95MW power plant located next to the site sub-station to provide back-up and emergency power.
RAVEN
The Raven target is located at the south eastern edge of the Nugget Stock. The area is underlain by deformed and faulted metasediments. The Raven target is interpreted to be hosted in a dilatational fracture zone within the Nugget Stock, in close association with the intrusion-metasediment contact.
The Raven target was discovered in 2018 during an evaluation of the Nugget Stock. Soil samples over the Raven target area returned coincident arsenic + bismuth + gold anomalies. Follow up trenching uncovered mineralization at surface with the best trench results returning 3.51 g/t gold over 124 metres. Subsequent drilling (2018, 2019 and 2020) outlined the mineralization for 750 metres along strike and is open at depth and to the east and west.
Mineralization consists of arsenopyrite dominant polymetallic veins. The veins and vein sets are remarkably consistent across Raven and preliminary mapping suggests these mineralized veins occur with steep to moderate dips with West to Southwest strike. Intense shearing deforms the vein sets along an east west orientation that is open along strike in both directions and in particular down dip. Multiple phases of mineralization at Raven have been identified, a fact that underscores the potential for Raven to host a meaningful gold deposit.
To date there have been: 6,042 soils, 7493m trenches, 9647.62m Diamond drilling from 43 holes to define the Raven Zone.
A major focus of Victoria’s 2021 exploration program is to evaluate the entirety of the Nugget Stock for Eagle-style deposits while continuing to expand the high-grade footprint of Raven. Results of the 2021 exploration program are expected by late 2021.
CRUSHERS
THREE STAGE CRUSH
Gold-bearing ore is crushed to 10 mm in size in a 3-stage crushing process.
Ore is transported from the open pit by haul truck to the Primary Crusher where it is crushed to approximately 12 cm in size, about the size of a grapefruit.
The crushed ore is then conveyed from the Primary Crusher to the Secondary and Tertiary Crushers where it is crushed to a size of 10 mm, about the size of a grapefruit seed.
EAGLE CAMP
300-PERSON CAMP
The 300-person camp is well equipped with dining facilities, lounge, full gym, recreation area.
In addition, the camp area includes an ERT building, indoor cold storage building and a heated equipment shop.
EAGLE RESERVE
MINERAL RESERVES
In December 2019 Victoria Gold Corp released the results of a National Instrument 43-101 Technical Report for its 100% owned Eagle Gold Project. Probable Mineral Reserves are the economically mineable portions of the Indicated in-pit Mineral Reserves as demonstrated by the feasibility study.
Per the feasibility study, the combined Proven and Probable Reserve of the Eagle Gold Deposit totals 3.3 million ounces of gold, and mineralization remains open along strike and to depth.
The Eagle Gold Deposit lies within the Tintina Gold Belt and the Eagle Gold Mine Resource trends in an east-west direction for over 1,050 metres and to a depth of 475 metres.
The Eagle Gold Deposit can be simplified and described as an intrusive related, sheeted vein hosted gold deposit, predominantly composed of granodiorite, emplaced within a meta-sedimentary package, predominantly composed of phyllites and quartzites. In general, the granodiorite hasing the Eagle Gold Orebody can be subdivided into three main ore types, an oxidized, an altered and an unaltered type, though geochemical differences in these are minimal. Alteration tends to be dominated by sericite, albite, potassium feldspar, carbonate and chlorite and preferentially occurs locally to veining. While mineralization is associated with the intrusive stock, it is not spatially limited to the intrusive. Gold-bearing veins are found in all of the main geological units including the meta-sediments.
EVENTS POND
MINE SAFETY AND RISK MITIGATION
The Events Pond temporarily stores excess process solution during rare upset events, and normal precipitation that occurs on the pond. The solution contained in the pond will be recycled back into the heap leach circuit as required.
GOLD RECOVERY PLANT
GOLD EXTRACTION
In the Gold Recovery Plant, the gold is extracted from the solution.
Once the gold is extracted from the solution, the ‘barren’ solution, is recycled and pumped back to be used on the Heap Leach Facility.
The gold is extracted from the pregnant solution by activated carbon adsorption and desorption, followed by electrowinning onto steel cathodes. The recovered gold is then heated to over 1000 degrees Celsius and poured into doré bars.
The doré bars produced at the Eagle Gold Mine weigh approximately 1000 ounces and contain gold and some silver.
The doré bars are shipped to the Canadian Mint for final refining to 99.99% gold.
HEAP LEACH FACILITY
HEAP LEACHING
Gold extraction utilizes cyanide heap leaching technology. Similar technology was employed in Yukon at the Brewery Creek mine in the late 1990s, and has been employed successfully in other cold climates such as the United States of America (Alaska), Chile, Argentina, Turkey and Russia. This process uses methods developed since the 1980s to maintain temperatures above freezing year round for optimal performance.
The Heap Leach Facility is located in a valley that has a protective double or triple liner installed, is constructed in three phases starting from the lower portion of the valley and progressing upwards. The facility is comprised of a solution sump, piping, leak detection and recovery and monitoring systems.
Crushed gold bearing ore from the Secondary / Tertiary Crushers is conveyed via the Overland Conveyor where mobile stackers stack the crushed ore in 10 metre lifts, or layers.
Approximately one million tonnes of ore will be processed each month.
A network of drip emitter tubing is installed on each layer distributes a weak cyanide solution through the tubing and percolates down through the stacked ore dissolving the gold.
The ‘pregnant’ or gold laden solution collects into wells and is pumped to the Gold Recovery Plant.
PRIMARY CRUSHER
CRUSHING AND CONVEYING
The Primary Crusher is the first stage of the three-stage crushing process.
Gold-bearing ore from the open pit is hauled to the Primary Crusher, a gyratory crusher, which crushes the ore boulders to an average of 12 cm in size, about the size of a grapefruit.
The crushed ore is conveyed via the coarse ore conveyor circuit to the Secondary and Tertiary Crushers.
SECONDARY & TERTIARY CRUSHER
CRUSHING AND CONVEYING
The Secondary & Tertiary crushers further crush the ore for placement onto the Heap Leach Facility.
Crushed ore from the Primary Crusher is conveyed via the Coarse Ore Conveyors to the Secondary and Tertiary Crushers, where it is crushed to 10 mm in size.
The ore is then conveyed overland approximately 1.5 km to the Heap Leach Facility where it is stacked in 10 metre lifts, or layers.
SECONDARY & TERTIARY CRUSHER
CRUSHING AND CONVEYING
The Secondary & Tertiary crushers further crush the ore for placement onto the Heap Leach Facility.
Crushed ore from the Primary Crusher is conveyed via the Coarse Ore Conveyors to the Secondary and Tertiary Crushers, where it is crushed to 6.5 mm in size.
The ore is then conveyed overland approximately 1.5 km to the Heap Leach Facility where it is stacked in 10 metre lifts, or layers.
SECONDARY & TERTIARY CRUSHER
CRUSHING AND CONVEYING
The Secondary & Tertiary crushers further crush the ore for placement onto the Heap Leach Facility.
Crushed ore from the Primary Crusher is conveyed via the Coarse Ore Conveyors to the Secondary and Tertiary Crushers, where it is crushed to 6.5 mm in size.
The ore is then conveyed overland approximately 1.5 km to the Heap Leach Facility where it is stacked in 10 metre lifts, or layers.
ZONE: VBW
FALCON
Victoria's VBW claims are located in the Mayo Mining District approximately 80 km from Mayo and 10 km from the Eagle Gold Deposit. The VBW claim block is contiguous with the Company's Dublin Gulch Property.
Target Deposit Type
The VBW Project represents an analogous precious metals exploration target akin to the Company's Eagle Gold Deposit, large-tonnage, intrusion-related gold systems associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins.
Project Summary
In November 2011 Victoria Gold staked 1,012 quartz mining claims, covering approximately 205 km2 (20,500 hectares) of First Nation of Na-Cho Nyak Dun (FNNND) Category B lands immediately to the west of its Dublin Gulch Property. Surface rights on the Category B Lands belong to the FNNND and are part of the FNNND's final Umbrella Agreement with the federal and territorial governments. The FNNND signed an agreement giving consent to Victoria for staking claims and conducting exploration on the Category B Lands.
The VBW Claim Block covers the southwest strike extent of the highly prospective Potato Hills Trend, which is defined by several outcropping granodiorite bodies and a number of large-scale faults that potentially host mineralization similar to the Company's flagship Eagle deposit. The Claim Block, (Figure 1, highlighted in green), is considered highly prospective for intrusion-related gold system (IRGS) type mineralization and had not seen any mineral exploration activities in over 20 years. Historical exploration on the VBW Property included mapping and sampling by the Yukon Geological Survey in the mid-1990's, and minor, poorly documented prospecting for gold and silver in the early- to mid-20th century.
Geology and Mineralization
The VBW claims are underlain by Hyland Group metasedimentary rocks with minor outcropping igneous rocks. The VBW claims cover the southwest extension of the Potato Hills Trend, a > 13 km long zone of gold mineralization and geochemical anomalies corresponding with the regional-scale Tombstone High Strain Zone and the northwest contact of the Dublin Gulch granodiorite. Felsic igneous rocks interpreted to be of similar chemistry and origin to the Dublin Gulch granodiorite outcrop in the central part of the claims. In the southern part of the VBW claims YGS geologists mapped a 2 km east-west trending zone of contact metamorphism in the Hyland Group metasedimentary package but did not identify a contributing intrusion in the vicinity, although the presence of a hornfels zone strongly suggests a proximal buried plutonic body.
Zone: Dublin Gulch
The Dublin Gulch property is located approximately 85 km by road north northeast of the Village of Mayo, Yukon. The Dublin Gulch claim block is situated within the Tintina Gold Belt and hosts the flagship Eagle Gold deposit as well as multiple other targets at various stages of development.
Deposit Type
Large-tonnage reduced intrusion-related gold systems associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulfide veins.
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property is situated in the 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 Gold Deposit. The Eagle Gold Mine is under construction and is expected to be Yukon's next operating gold mine. The Eagle and Olive deposits, include Proven and Probable Reserves of 2.7 million ounces of gold from 123 million tonnes of ore with a grade of 0.67 grams of gold per tonne, as outlined in a National Instrument 43-101 feasibility study. The NI 43-101 Mineral Resource for the Eagle and Olive deposits has been estimated to host 191 million tonnes averaging 0.65 grams of gold per tonne, containing 4.0 million ounces of gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 24 million tonnes averaging 0.61 grams of gold per tonne, containing 0.5 million ounces of gold in the "Inferred" category.
Cautionary Language and Forward-Looking Statements
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.
EAGLE GOLD DEPOSIT
OVERVIEW
The Eagle Gold Mine is Canada’s newest gold mine and the largest gold mine in Yukon history.
The Eagle gold mine produces doré from a conventional open pit mining operation with a three-stage crush system, in-valley heap leach and carbon-in-leach adsorption-desorption gold recovery plant. The mine has year-round road access, and a fully operational 300-person all-season camp installed and operational. The mine further benefits from direct connection to commercial grid power and an airport located 80 road km to the south.
In full operations the mine will employ 350-400 people and will be a significant economic contributor to Yukon.
The Eagle Gold Mine has a signed Comprehensive Cooperation and Benefits Agreement with the local Nacho Nyak Dun First Nation, whose traditional territory the Project is located within.
The Eagle Gold Project represents an ideal combination of significant mineral endowment, a mining friendly jurisdiction with established infrastructure and a strong, experienced management team. Historically, the Yukon has been a productive region for gold and silver and this property contains a N.I. 43-101 compliant constrained in-pit resource of Measured and Indicated Mineral Resource 3.6 million ounces of gold (180 million tonnes grading 0.63 g/t Au) with an industry low waste-to-ore ratio of <1:1 and metallurgical characteristics favourable to low-cost heap leach recovery.
ZONE: OLIVE-SHAMROCK
The 2019 Technical Report includes the addition of a satellite deposit, Olive, located approximately 2 kms from Eagle.
In Year 7, crushed Eagle ore will be conveyed to a secondary Heap Facility near Olive. In Year 9, a smaller open pit at Olive will come into production with all Olive ore to be processed on the secondary Heap Facility.
The Olive-Shamrock zone represents a shear hosted gold exploration target genetically related to the Eagle gold deposit: an intrusion-related gold system associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins.
The zone is located approximately 2 km from Victoria's Eagle gold deposit, is defined by a broad gold/arsenic in-soils geochemical anomaly, lies on the intrusive-sediment contact of the Potato Hills Trend (as is Eagle) and is punctuated by several historically exploited high-grade sulphide veins.
The Olive-Shamrock area was mined underground on a small scale from shallow shafts and adits in the early 1900's and via placer mining in creeks draining the area in the ensuing years.
The Olive vein system is located near the top of Olive Gulch and consists of gold-bearing quartz-scorodite-arsenopyrite vein material. Historic exploration was successful in identifying high-grade near surface mineralization over significant widths including: A 200 metre trench excavated and sampled in 1991 exposed a zone of quartz and quartz-arsenopyrite veins hosted in the Dublin Gulch granodiorite that averaged 1.2 g/t Au over 97.6 metres. Diamond drill hole 91-012C collared in the trench intersected 89.9m grading 1.08 g/t Au.
ZONE: BLUTO
Two and a half kilometres east of the Olive-Shamrock Zone and on strike with the Potato Hills Trend lie a series of Cretaceous granodiorite intrusions that have seen only limited exploration work to date. A suite of historic stream sediment samples has identified the creek draining this zone as highly anomalous in arsenic and gold, and a summer 2013 exploration program designed to test this area as a possible extension returned grab samples from trace up to 8.2 g/t Au in the quartzite host rock. A detailed, grid-based soils geochemical program was subsequently conducted and a strong arsenic+gold-in-soils anomaly associated with the intrusive stocks was identified.
The Bluto Zone has a strong two-kilometre-long by one-kilometre wide, coincident gold+arsenic-in-soils geochemical anomaly that strikes at ~060° (the Potato Hills Trend) centered on a series of Dublin Gulch Stock related intrusions. Historic, Dublin Gulch Property-wide stream sediment sampling defined the creek draining this area (Indicator Creek) as a first-order anomalous watershed and helped develop Victoria’s interest in the area. Chip sampling of exposures in the area of the soils anomaly in 2013 by Victoria returned from trace up to 8.16 grams per tonne gold in the Zone. And a follow-up soils sampling survey in 2014 over the Zone defined the arsenic+gold soils anomaly currently being tested.
The Bluto Zone had seen limited previous exploration work conducted during the tungsten exploration campaigns on Dublin Gulch in the 1960’s -1980, mostly in the form of Cat trail access and commiserate bulldozer trenches. These trenches were only analyzed for tungsten as precious metals was not a consideration at the time.
ZONE: CATTO
The geology underlying the Catto Zone is similar to the Olive-Shamrock deposit to the northeast and consists of a stratigraphic sequence of quartzites, schists, and phyllites which has been intruded by the Dublin Gulch Stock. A gently dipping homocline striking roughly north controls the metasedimentary lithologies and close to the granodiorite-metasedimentary contact variably developed hornfels are common. Faulting and shearing is well-developed in and around the contact zone and parallel milky white quartz, quartz-scheelite and quartz-arsenopyrite-scorodite veins are seen in association with the contact zone.
The Catto Zone has seen sporadic exploration since the early 1900's and is the site of multiple open-cuts, shafts and adits from high-grade gold past-producers; including the Green Vein Tunnel, the Cabin Vein Tunnel and the Victoria Vein Adit. These proven, quartz vein-hosted, high-grade gold mineralized targets suggest a contact-related gold mineralized system located only 300m from, and likely associated with, the southeast portion of the Olive-Shamrock Deposit.
Historic grab samples from the Catto Zone have returned highly anomalous precious metals results, indicative of the tenor of high-grade past producers, including those outlined in the table.
ZONE: EAGLE EXTENSION
The Eagle Extension Zone represents a large area on the northern contact margin of the mineralized intrusive units immediately adjacent to the western pit wall of the Eagle Gold Mine. Like Eagle West, this area had received only cursory exploration drilling historically and represents an under-tested area contiguous to the Eagle Gold Mine that fits into the Potato Hills Trend exploration model. In fact, the 2017 season drilling has served to greatly enhance geological control on the Extension Zone, with the historically mapped intrusive-metasedimentary contact adjusted up to 200 metres north of previous interpretations, greatly increasing the gold potential of this zone. In addition to the diamond drilling, as part of the 2017 Extension Zone evaluation, a 104m surface trench was constructed and sampled through an area where scorodite veins had been mapped during this year’s exploration program. This trench, WETR17-01, returned 104m @ 0.41 g/t Au over the entire length of the trench, including the following intervals: 12m @ 0.77 g/t Au including 2.0m @ 1.47 g/t Au, and 18m @ 0.92 g/t Au including 4.0m @ 1.48 g/t Au and including 4.0m @ 1.5 g/t Au.
These surface trench results indicate that mineralization intersected in drill holes from Eagle Extension Zone is consistent and extends to surface. Mineralization at Eagle Extension is geologically similar to Eagle and represents an area that offers potential for Eagle pit expansion that may be accretive to the main Eagle Gold Deposit.
ZONE: EAGLE WEST
The Eagle West target area lies as close as 500 metres northwest of the main Eagle Gold Deposit, and hosts previously under-explored exposures of the granodiorite with similar geological characteristics to those of the nearby Eagle deposit. The area was briefly explored in 2011 and a small diamond drilling program encountered encouraging results.
The 2017 Eagle West drill program defined a 240m x 180m surface expression of a gold mineralized granodiorite stock. Not only were Eagle style mineralized sheeted veins encountered in the Eagle West drilling program but a higher grade, structurally controlled zone was defined on the northern contact margin of the Eagle West intrusive. Pervasive sericite alteration and massive sulphide mineralization, both akin to the Olive-Shamrock zone were noted during this drill campaign, a fact that further emphasizes the Potato Hills Trend mineralization concept on the Dublin Gulch Property is working to target accretive gold mineralization targets.
A total of 3,682 metres of diamond drilling was completed at Eagle West in 2017, from 41 drillholes, the majority of which were 60-70m in length, 8 holes that targeted gold mineralization continuity to depth ended at >100 metre depths.
ZONE: OLIVE-SHAMROCK
The 2019 Technical Report includes the addition of a satellite deposit, Olive, located approximately 2 kms from Eagle.
In Year 7, crushed Eagle ore will be conveyed to a secondary Heap Facility near Olive. In Year 9, a smaller open pit at Olive will come into production with all Olive ore to be processed on the secondary Heap Facility.
The Olive-Shamrock zone represents a shear hosted gold exploration target genetically related to the Eagle gold deposit: an intrusion-related gold system associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins.
The zone is located approximately 2 km from Victoria's Eagle gold deposit, is defined by a broad gold/arsenic in-soils geochemical anomaly, lies on the intrusive-sediment contact of the Potato Hills Trend (as is Eagle) and is punctuated by several historically exploited high-grade sulphide veins.
The Olive-Shamrock area was mined underground on a small scale from shallow shafts and adits in the early 1900's and via placer mining in creeks draining the area in the ensuing years.
The Olive vein system is located near the top of Olive Gulch and consists of gold-bearing quartz-scorodite-arsenopyrite vein material. Historic exploration was successful in identifying high-grade near surface mineralization over significant widths including: A 200 metre trench excavated and sampled in 1991 exposed a zone of quartz and quartz-arsenopyrite veins hosted in the Dublin Gulch granodiorite that averaged 1.2 g/t Au over 97.6 metres. Diamond drill hole 91-012C collared in the trench intersected 89.9m grading 1.08 g/t Au.
ZONE: POPEYE
Popeye is a recent discovery by Victoria Gold and comprises a sheeted vein system in a detached, highly altered granodiorite cupola to the northwest of Olive. Exploration programs in 2010 and 2011 highlighted several thick mineralized intervals and high-grade mineralization. In 2017, two holes were drilled in the Popeye stock following up on previous results and intersected significant gold in quartz-arsenopyrite veining.
ZONE: REX-PESO
The Rex-Peso silver and gold zone lies approximately 4 kilometres west of the Eagle Gold Deposit, and is a southwestern extension of the Potato Hills mineralized belt. Historical work since the 1940s focused exploration on several silver-lead-antimony veins with an east-west strike. The vein system at Rex-Peso was extensively explored by Peso Silver Mines Ltd. from 1961 to 1965, including underground development on the Peso No. 1 vein and the Rex vein amounting to approximately 1,067 metres of drifting, shafting, and adits to approximately 90 metres below surface. Rock sample results indicated a 9m width of oxidised vein at Peso with 2.4m grading 1.7010 g/t Au and 1,919 g/ton silver. Five additional veins were outlined from 30-2,800m strike lengths. Work on the Rex-Peso area was intermittent after 1964 and included small campaigns of surface trenching, limited drilling, and geochemical exploration.
From September to November, 2011, a first phase reconnaissance exploratory program of 12 diamond drill holes was completed for a total of 1,428 meters; this program targeted vein systems which have remained essentially unexplored since the 1960s. The 2011 diamond drilling program confirmed the presence of thick, high-grade silver intervals, with best results of 4.81 m of 259 g/t Ag and 0.93 m of 0.45 g/t Au and > 10,000 g/t Ag. These sulphide and quartz breccia veins have a similar mineralogical signature and geological setting to those in the Keno Hill Silver district, 30 kilometres to the east-southeast, except in this case they are hosted in Proterozoic-Cambrian Hyland Group quartzites, schists and phyllites. Minerals in the sulphide veins include silver-rich galena, sphalerite, jamesonite and other sulphosalts.
Of further interest at Rex-Peso is the gold mineralization potential proximal to Cretaceous age intrusivesin addition to those hosted within the silver vein-faults. Several currently operating and past placer gold producers (e.g. Secret Creek) have their headwaters in the Rex-Peso area, and stream sediment samples of these drainages returned anomalous gold throughout Secret Creek, Gil Gulch and 15 Pup. A series of exposed phases of intrusives have been mapped in the area, moreover airborne geophysics suggests the presence of a large buried intrusion underlying the area; a potential heat source and gold feeder system for the area.
The 2017 exploration program consisted of a 50m x 50m spaced soil grid over the main Rex intrusion followed by a ground IP, Mag and VLF surveys. 19 diamond drill holes for 3,300m and 23 trenches for 1,514m were subsequently completed over the Rex ridge area following up anomalous gold and arsenic in soil results as well as historically traced faults.
ZONE: SPINACH
Spinach is located along the same lithological contact as the Olive-Shamrock zone and was deemed a high-priority target to identify a mineralized shear zone related to the Olive-Shamrock Shear Zone located approximately 500 metres to the south. As part of the exploration drilling program at Spinach a series access trails and surface trenches were established to assist in mapping the geological contacts in the Zone. The 2017 diamond drilling totaled 6,265 metres from twenty-two drillholes that targeted an area north of the Olive-Shamrock zone along the northern margin of Dublin Gulch Intrusive Stock. The area had seen no previous drilling but had been the subject of a detailed soils geochemical program conducted in early 2017 that had identified a co-incident gold/arsenic-in-soils geochemical anomaly in the area of the intrusive metasedimentary contact.
An increase in silver content associated with the gold mineralization at Spinach was noted and is interpreted to represent a secondary mineralization event with respect to the Olive-Shamrock deposit, a fact that highlights the mineral potential of this new area.
ZONE: WOLF-TUNGSTEN
The Wolf-Tungsten Zone consists of skarn-hosted scheelite mineralization within a roof pendant of calcareous metasediments positioned in the south east corner of the Dublin Gulch granodiorite stock. The metasediments are altered to calc-silicate exoskarn and the intrusive sills contain local zones of endoskarn. Exploration drilling to date has delineated a zone of tungsten mineralization along 800 metre of strike length and 300 metre down dip. The deposit remains unconfined in nearly all directions.
The Wolf-Tungsten Zone has excellent opportunities for significant resource expansion. In the northern part, the mineralization remains unconfined both along strike and down dip. In the central portion, the deposit remains untested down dip from the current drilling. In this area, there are many sections that also remain unconfined down dip. In the southern part, the mineralization remains unconfined mainly down dip.
The Wolf-Tungsten Zone is a component of the much larger Dublin Gulch hydrothermal system. The Eagle Gold Zone is located 2.5 kilometers along strike from the Wolf-Tungsten Zone. The continuity from earlier tungsten-bearing calc-silicate skarns to later-formed gold veins within similar structural regimes provides excellent opportunities to explore for extensions of both tungsten and gold mineralization in the metasediments and within the intrusion.
Zone: LYNX
The Lynx target is road accessible and located centrally in the Dublin Gulch claim block approximately 5 km southwest of Nugget/Raven; and is centred on a 400 by 700 m exposure of granodiorite stock that intrudes overlying metasediment package. The Lynx project exhibits similar characteristics to Victoria Gold’s Nugget and Raven exploration projects.
The Lynx target first demonstrated mineralization potential in the mid 1990’s with an encouraging preliminary drilling/trenching campaign, during the initial assessment of the Dublin Gulch Gold Camp; it received follow-up drilling in 2004, and has remained unexplored since.
Mineralization identified to date is concentrated along the contact between the intrusion and surrounding country rock, similar to much of the mineralization elsewhere on the Dublin Gulch claim block; and within the Potato Hills Trend. An interpretation of the diamond drilling and trenching completed to date suggests an east-west strike to mineralization and limited soil sampling conducted to the east and west of the prospect suggests continuity of mineralization in both directions. Mineralization intersected in diamond drilling is open at depth and along strike to the east and west, and soil data indicate Au in soil > 30 ppb to the east and west of the prospect.
Multiple significant mineralized intersections of gold have been identified from the small 2020 drilling campaign. Early-stage trench results are extremely encouraging, with two parallel trenches 385-m apart both ending in mineralization. The 2020 Exploration campaign consisted of 1609 soils, mapping, 720m trenches, 594.36 m DDH and the establishment of an exploration camp. Victoria’s 2021 program at Lynx is focused on drilling and trenching following up on the previous exploration campaigns to continue to delineate mineralization along strike and down dip. Results of the program are expected in late fall.
Zone: FALCON
The VBW claim block is contiguous with the Company’s Dublin Gulch property and is being explored for large-tonnage reduced intrusion-related gold systems associated with identified Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins. The intrusions located on these VBW lands are interpreted to be of similar character to the Dublin Gulch stock, which hosts the Company's Eagle gold deposit, located 15 km to the east.
A September, 2012 exploration program focused on the VBW lands defined a 5 km long, east-west striking gold-in-soil (>20 ppb Au) and coincident As, Ag, Sb and Bi trend, returning up to 244 ppb Au in soils (See Company News Release of January 27, 2013). A fall 2013 follow-up grid based geochemical soils sampling program identified strong arsenic+gold-in-soils anomalies and coincidently mapped altered structures, and a diamond drill program was then conducted on the Falcon showing where the first ever drillholes from this Property returned up to 59.2m @ 0.58 g/t Au including 14m @ 0.98 g/t Au in drillhole VBW- 13-01C from 7.0 to 66.2 metres. The Falcon zone consists of an area of stockwork quartz-veined, contact-metamorphosed, Hyland group sediments, local faulted, and mid-Cretaceous age granitoids of the Tombstone Plutonic Suite. The intrusions are interpreted to be of similar character to the Dublin Gulch stock, which hosts the company’s Eagle gold deposit. Minerals found within the veins and locally disseminated within the sediments and intrusions include arsenopyrite, realgar, chalcopyrite, pyrite, bismuthinite and rare galena.
OPEN PIT
BLASTING, LOADING, HAULING
Per the Feasibility Study, the Eagle Reserve contains 3 million ounces of gold and will take approximately 11 years to mine. The Eagle Open Pit is situated on a hillside, and when completed will measure greater than 2000 metres long, 1000 metres wide and 800 metres deep.
Rock in the Open Pit is blasted, and then loaded into haul trucks to be hauled to the Primary Crusher.
Non gold bearing material is hauled to a waste rock storage area.
Ore is hauled to the Primary Crusher and then conveyed onwards to the Secondary and Tertiary Crushers.
The Eagle Gold Mine fleet includes two CAT 6040 shovels and eleven CAT 785D haul trucks.
Each shovel bucket can hold 40 tonnes of material and each haul truck can hold over three scoops, or 150 tonnes.
Additionally, the mine plan benefits from a favourable strip ratio of 0.95:1
NUGGET - RAVEN
NUGGET
The Nugget stock, the second largest intrusion on the Dublin Gulch Property (second only the Dublin Gulch Stock that hosts the Eagle Gold Mine), consists of an approximately 2.2-kilometre by 1.2-kilometre granodiorite. The Nugget stock is hosted in metasediments. Arsenic + gold soil anomalies occur along the edges of the Nugget stock. The Nugget intrusion is akin to the Eagle Deposit host rock, and has been the subject of limited historic exploration work due to historic inaccessibility of the area. Starting in 2017 an access trail was constructed and has, for the first time ever, allowed vehicular access to this high-priority target.
Historically, a gold-in-soils geochemical anomaly that graded from trace up to 1.12 g/t Au in soils has been defined along with associated first pass trench samples that graded from trace up to 2.38 g/t Au and grab samples from trace up to 1.35 g/t Au.
Mineralization encountered thus far consists of quartz-arsenopyrite and polymetallic veins occurring peripheral to and within the Nugget stock.
RAVEN
The Raven target is located at the south eastern edge of the Nugget Stock. The area is underlain by deformed and faulted metasediments. The Raven target is interpreted to be hosted in a dilatational fracture zone within the Nugget Stock, in close association with the intrusion-metasediment contact.
The Raven target was discovered in 2018 during an evaluation of the Nugget Stock. Soil samples over the Raven target area returned coincident arsenic + bismuth + gold anomalies. Follow up trenching uncovered mineralization at surface with the best trench results returning 3.51 g/t gold over 124 metres. Subsequent drilling (2018, 2019 and 2020) outlined the mineralization for 750 metres along strike and is open at depth and to the east and west.
Mineralization consists of arsenopyrite dominant polymetallic veins. The veins and vein sets are remarkably consistent across Raven and preliminary mapping suggests these mineralized veins occur with steep to moderate dips with West to Southwest strike. Intense shearing deforms the vein sets along an east west orientation that is open along strike in both directions and in particular down dip. Multiple phases of mineralization at Raven have been identified, a fact that underscores the potential for Raven to host a meaningful gold deposit.
To date there have been: 6,042 soils, 7493m trenches, 9647.62m Diamond drilling from 43 holes to define the Raven Zone.
A major focus of Victoria’s 2021 exploration program is to evaluate the entirety of the Nugget Stock for Eagle-style deposits while continuing to expand the high-grade footprint of Raven. Results of the 2021 exploration program are expected by late 2021.
EAGLE GOLD DEPOSIT
OVERVIEW
The Eagle Gold Mine is Canada’s newest gold mine and the largest gold mine in Yukon history.
The Eagle gold mine produces doré from a conventional open pit mining operation with a three-stage crush system, in-valley heap leach and carbon-in-leach adsorption-desorption gold recovery plant. The mine has year-round road access, and a fully operational 300-person all-season camp installed and operational. The mine further benefits from direct connection to commercial grid power and an airport located 80 road km to the south.
In full operations the mine will employ 350-400 people and will be a significant economic contributor to Yukon.
The Eagle Gold Mine has a signed Comprehensive Cooperation and Benefits Agreement with the local Nacho Nyak Dun First Nation, whose traditional territory the Project is located within.
The Eagle Gold Project represents an ideal combination of significant mineral endowment, a mining friendly jurisdiction with established infrastructure and a strong, experienced management team. Historically, the Yukon has been a productive region for gold and silver and this property contains a N.I. 43-101 compliant constrained in-pit resource of Measured and Indicated Mineral Resource 3.6 million ounces of gold (180 million tonnes grading 0.63 g/t Au) with an industry low waste-to-ore ratio of <1:1 and metallurgical characteristics favourable to low-cost heap leach recovery.
ZONE: OLIVE-SHAMROCK
The 2019 Technical Report includes the addition of a satellite deposit, Olive, located approximately 2 kms from Eagle.
In Year 7, crushed Eagle ore will be conveyed to a secondary Heap Facility near Olive. In Year 9, a smaller open pit at Olive will come into production with all Olive ore to be processed on the secondary Heap Facility.
The Olive-Shamrock zone represents a shear hosted gold exploration target genetically related to the Eagle gold deposit: an intrusion-related gold system associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins.
The zone is located approximately 2 km from Victoria's Eagle gold deposit, is defined by a broad gold/arsenic in-soils geochemical anomaly, lies on the intrusive-sediment contact of the Potato Hills Trend (as is Eagle) and is punctuated by several historically exploited high-grade sulphide veins.
The Olive-Shamrock area was mined underground on a small scale from shallow shafts and adits in the early 1900's and via placer mining in creeks draining the area in the ensuing years.
The Olive vein system is located near the top of Olive Gulch and consists of gold-bearing quartz-scorodite-arsenopyrite vein material. Historic exploration was successful in identifying high-grade near surface mineralization over significant widths including: A 200 metre trench excavated and sampled in 1991 exposed a zone of quartz and quartz-arsenopyrite veins hosted in the Dublin Gulch granodiorite that averaged 1.2 g/t Au over 97.6 metres. Diamond drill hole 91-012C collared in the trench intersected 89.9m grading 1.08 g/t Au.
ZONE: BLUTO
Two and a half kilometres east of the Olive-Shamrock Zone and on strike with the Potato Hills Trend lie a series of Cretaceous granodiorite intrusions that have seen only limited exploration work to date. A suite of historic stream sediment samples has identified the creek draining this zone as highly anomalous in arsenic and gold, and a summer 2013 exploration program designed to test this area as a possible extension returned grab samples from trace up to 8.2 g/t Au in the quartzite host rock. A detailed, grid-based soils geochemical program was subsequently conducted and a strong arsenic+gold-in-soils anomaly associated with the intrusive stocks was identified.
The Bluto Zone has a strong two-kilometre-long by one-kilometre wide, coincident gold+arsenic-in-soils geochemical anomaly that strikes at ~060° (the Potato Hills Trend) centered on a series of Dublin Gulch Stock related intrusions. Historic, Dublin Gulch Property-wide stream sediment sampling defined the creek draining this area (Indicator Creek) as a first-order anomalous watershed and helped develop Victoria’s interest in the area. Chip sampling of exposures in the area of the soils anomaly in 2013 by Victoria returned from trace up to 8.16 grams per tonne gold in the Zone. And a follow-up soils sampling survey in 2014 over the Zone defined the arsenic+gold soils anomaly currently being tested.
The Bluto Zone had seen limited previous exploration work conducted during the tungsten exploration campaigns on Dublin Gulch in the 1960’s -1980, mostly in the form of Cat trail access and commiserate bulldozer trenches. These trenches were only analyzed for tungsten as precious metals was not a consideration at the time.
ZONE: CATTO
The geology underlying the Catto Zone is similar to the Olive-Shamrock deposit to the northeast and consists of a stratigraphic sequence of quartzites, schists, and phyllites which has been intruded by the Dublin Gulch Stock. A gently dipping homocline striking roughly north controls the metasedimentary lithologies and close to the granodiorite-metasedimentary contact variably developed hornfels are common. Faulting and shearing is well-developed in and around the contact zone and parallel milky white quartz, quartz-scheelite and quartz-arsenopyrite-scorodite veins are seen in association with the contact zone.
The Catto Zone has seen sporadic exploration since the early 1900's and is the site of multiple open-cuts, shafts and adits from high-grade gold past-producers; including the Green Vein Tunnel, the Cabin Vein Tunnel and the Victoria Vein Adit. These proven, quartz vein-hosted, high-grade gold mineralized targets suggest a contact-related gold mineralized system located only 300m from, and likely associated with, the southeast portion of the Olive-Shamrock Deposit.
Historic grab samples from the Catto Zone have returned highly anomalous precious metals results, indicative of the tenor of high-grade past producers, including those outlined in the table.
ZONE: EAGLE EXTENSION
The Eagle Extension Zone represents a large area on the northern contact margin of the mineralized intrusive units immediately adjacent to the western pit wall of the Eagle Gold Mine. Like Eagle West, this area had received only cursory exploration drilling historically and represents an under-tested area contiguous to the Eagle Gold Mine that fits into the Potato Hills Trend exploration model. In fact, the 2017 season drilling has served to greatly enhance geological control on the Extension Zone, with the historically mapped intrusive-metasedimentary contact adjusted up to 200 metres north of previous interpretations, greatly increasing the gold potential of this zone. In addition to the diamond drilling, as part of the 2017 Extension Zone evaluation, a 104m surface trench was constructed and sampled through an area where scorodite veins had been mapped during this year’s exploration program. This trench, WETR17-01, returned 104m @ 0.41 g/t Au over the entire length of the trench, including the following intervals: 12m @ 0.77 g/t Au including 2.0m @ 1.47 g/t Au, and 18m @ 0.92 g/t Au including 4.0m @ 1.48 g/t Au and including 4.0m @ 1.5 g/t Au.
These surface trench results indicate that mineralization intersected in drill holes from Eagle Extension Zone is consistent and extends to surface. Mineralization at Eagle Extension is geologically similar to Eagle and represents an area that offers potential for Eagle pit expansion that may be accretive to the main Eagle Gold Deposit.
ZONE: EAGLE WEST
The Eagle West target area lies as close as 500 metres northwest of the main Eagle Gold Deposit, and hosts previously under-explored exposures of the granodiorite with similar geological characteristics to those of the nearby Eagle deposit. The area was briefly explored in 2011 and a small diamond drilling program encountered encouraging results.
The 2017 Eagle West drill program defined a 240m x 180m surface expression of a gold mineralized granodiorite stock. Not only were Eagle style mineralized sheeted veins encountered in the Eagle West drilling program but a higher grade, structurally controlled zone was defined on the northern contact margin of the Eagle West intrusive. Pervasive sericite alteration and massive sulphide mineralization, both akin to the Olive-Shamrock zone were noted during this drill campaign, a fact that further emphasizes the Potato Hills Trend mineralization concept on the Dublin Gulch Property is working to target accretive gold mineralization targets.
A total of 3,682 metres of diamond drilling was completed at Eagle West in 2017, from 41 drillholes, the majority of which were 60-70m in length, 8 holes that targeted gold mineralization continuity to depth ended at >100 metre depths.
ZONE: OLIVE-SHAMROCK
The 2019 Technical Report includes the addition of a satellite deposit, Olive, located approximately 2 kms from Eagle.
In Year 7, crushed Eagle ore will be conveyed to a secondary Heap Facility near Olive. In Year 9, a smaller open pit at Olive will come into production with all Olive ore to be processed on the secondary Heap Facility.
The Olive-Shamrock zone represents a shear hosted gold exploration target genetically related to the Eagle gold deposit: an intrusion-related gold system associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins.
The zone is located approximately 2 km from Victoria's Eagle gold deposit, is defined by a broad gold/arsenic in-soils geochemical anomaly, lies on the intrusive-sediment contact of the Potato Hills Trend (as is Eagle) and is punctuated by several historically exploited high-grade sulphide veins.
The Olive-Shamrock area was mined underground on a small scale from shallow shafts and adits in the early 1900's and via placer mining in creeks draining the area in the ensuing years.
The Olive vein system is located near the top of Olive Gulch and consists of gold-bearing quartz-scorodite-arsenopyrite vein material. Historic exploration was successful in identifying high-grade near surface mineralization over significant widths including: A 200 metre trench excavated and sampled in 1991 exposed a zone of quartz and quartz-arsenopyrite veins hosted in the Dublin Gulch granodiorite that averaged 1.2 g/t Au over 97.6 metres. Diamond drill hole 91-012C collared in the trench intersected 89.9m grading 1.08 g/t Au.
ZONE: OLIVE-SHAMROCK
The 2019 Technical Report includes the addition of a satellite deposit, Olive, located approximately 2 kms from Eagle.
In Year 7, crushed Eagle ore will be conveyed to a secondary Heap Facility near Olive. In Year 9, a smaller open pit at Olive will come into production with all Olive ore to be processed on the secondary Heap Facility.
The Olive-Shamrock zone represents a shear hosted gold exploration target genetically related to the Eagle gold deposit: an intrusion-related gold system associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins.
The zone is located approximately 2 km from Victoria's Eagle gold deposit, is defined by a broad gold/arsenic in-soils geochemical anomaly, lies on the intrusive-sediment contact of the Potato Hills Trend (as is Eagle) and is punctuated by several historically exploited high-grade sulphide veins.
The Olive-Shamrock area was mined underground on a small scale from shallow shafts and adits in the early 1900's and via placer mining in creeks draining the area in the ensuing years.
The Olive vein system is located near the top of Olive Gulch and consists of gold-bearing quartz-scorodite-arsenopyrite vein material. Historic exploration was successful in identifying high-grade near surface mineralization over significant widths including: A 200 metre trench excavated and sampled in 1991 exposed a zone of quartz and quartz-arsenopyrite veins hosted in the Dublin Gulch granodiorite that averaged 1.2 g/t Au over 97.6 metres. Diamond drill hole 91-012C collared in the trench intersected 89.9m grading 1.08 g/t Au.
ZONE: POPEYE
Popeye is a recent discovery by Victoria Gold and comprises a sheeted vein system in a detached, highly altered granodiorite cupola to the northwest of Olive. Exploration programs in 2010 and 2011 highlighted several thick mineralized intervals and high-grade mineralization. In 2017, two holes were drilled in the Popeye stock following up on previous results and intersected significant gold in quartz-arsenopyrite veining.
ZONE: REX-PESO
The Rex-Peso silver and gold zone lies approximately 4 kilometres west of the Eagle Gold Deposit, and is a southwestern extension of the Potato Hills mineralized belt. Historical work since the 1940s focused exploration on several silver-lead-antimony veins with an east-west strike. The vein system at Rex-Peso was extensively explored by Peso Silver Mines Ltd. from 1961 to 1965, including underground development on the Peso No. 1 vein and the Rex vein amounting to approximately 1,067 metres of drifting, shafting, and adits to approximately 90 metres below surface. Rock sample results indicated a 9m width of oxidised vein at Peso with 2.4m grading 1.7010 g/t Au and 1,919 g/ton silver. Five additional veins were outlined from 30-2,800m strike lengths. Work on the Rex-Peso area was intermittent after 1964 and included small campaigns of surface trenching, limited drilling, and geochemical exploration.
From September to November, 2011, a first phase reconnaissance exploratory program of 12 diamond drill holes was completed for a total of 1,428 meters; this program targeted vein systems which have remained essentially unexplored since the 1960s. The 2011 diamond drilling program confirmed the presence of thick, high-grade silver intervals, with best results of 4.81 m of 259 g/t Ag and 0.93 m of 0.45 g/t Au and > 10,000 g/t Ag. These sulphide and quartz breccia veins have a similar mineralogical signature and geological setting to those in the Keno Hill Silver district, 30 kilometres to the east-southeast, except in this case they are hosted in Proterozoic-Cambrian Hyland Group quartzites, schists and phyllites. Minerals in the sulphide veins include silver-rich galena, sphalerite, jamesonite and other sulphosalts.
Of further interest at Rex-Peso is the gold mineralization potential proximal to Cretaceous age intrusivesin addition to those hosted within the silver vein-faults. Several currently operating and past placer gold producers (e.g. Secret Creek) have their headwaters in the Rex-Peso area, and stream sediment samples of these drainages returned anomalous gold throughout Secret Creek, Gil Gulch and 15 Pup. A series of exposed phases of intrusives have been mapped in the area, moreover airborne geophysics suggests the presence of a large buried intrusion underlying the area; a potential heat source and gold feeder system for the area.
The 2017 exploration program consisted of a 50m x 50m spaced soil grid over the main Rex intrusion followed by a ground IP, Mag and VLF surveys. 19 diamond drill holes for 3,300m and 23 trenches for 1,514m were subsequently completed over the Rex ridge area following up anomalous gold and arsenic in soil results as well as historically traced faults.
ZONE: SPINACH
Spinach is located along the same lithological contact as the Olive-Shamrock zone and was deemed a high-priority target to identify a mineralized shear zone related to the Olive-Shamrock Shear Zone located approximately 500 metres to the south. As part of the exploration drilling program at Spinach a series access trails and surface trenches were established to assist in mapping the geological contacts in the Zone. The 2017 diamond drilling totaled 6,265 metres from twenty-two drillholes that targeted an area north of the Olive-Shamrock zone along the northern margin of Dublin Gulch Intrusive Stock. The area had seen no previous drilling but had been the subject of a detailed soils geochemical program conducted in early 2017 that had identified a co-incident gold/arsenic-in-soils geochemical anomaly in the area of the intrusive metasedimentary contact.
An increase in silver content associated with the gold mineralization at Spinach was noted and is interpreted to represent a secondary mineralization event with respect to the Olive-Shamrock deposit, a fact that highlights the mineral potential of this new area.
ZONE: WOLF-TUNGSTEN
The Wolf-Tungsten Zone consists of skarn-hosted scheelite mineralization within a roof pendant of calcareous metasediments positioned in the south east corner of the Dublin Gulch granodiorite stock. The metasediments are altered to calc-silicate exoskarn and the intrusive sills contain local zones of endoskarn. Exploration drilling to date has delineated a zone of tungsten mineralization along 800 metre of strike length and 300 metre down dip. The deposit remains unconfined in nearly all directions.
The Wolf-Tungsten Zone has excellent opportunities for significant resource expansion. In the northern part, the mineralization remains unconfined both along strike and down dip. In the central portion, the deposit remains untested down dip from the current drilling. In this area, there are many sections that also remain unconfined down dip. In the southern part, the mineralization remains unconfined mainly down dip.
The Wolf-Tungsten Zone is a component of the much larger Dublin Gulch hydrothermal system. The Eagle Gold Zone is located 2.5 kilometers along strike from the Wolf-Tungsten Zone. The continuity from earlier tungsten-bearing calc-silicate skarns to later-formed gold veins within similar structural regimes provides excellent opportunities to explore for extensions of both tungsten and gold mineralization in the metasediments and within the intrusion.
Zone: FALCON
The VBW claim block is contiguous with the Company’s Dublin Gulch property and is being explored for large-tonnage reduced intrusion-related gold systems associated with identified Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins. The intrusions located on these VBW lands are interpreted to be of similar character to the Dublin Gulch stock, which hosts the Company's Eagle gold deposit, located 15 km to the east.
A September, 2012 exploration program focused on the VBW lands defined a 5 km long, east-west striking gold-in-soil (>20 ppb Au) and coincident As, Ag, Sb and Bi trend, returning up to 244 ppb Au in soils (See Company News Release of January 27, 2013). A fall 2013 follow-up grid based geochemical soils sampling program identified strong arsenic+gold-in-soils anomalies and coincidently mapped altered structures, and a diamond drill program was then conducted on the Falcon showing where the first ever drillholes from this Property returned up to 59.2m @ 0.58 g/t Au including 14m @ 0.98 g/t Au in drillhole VBW- 13-01C from 7.0 to 66.2 metres. The Falcon zone consists of an area of stockwork quartz-veined, contact-metamorphosed, Hyland group sediments, local faulted, and mid-Cretaceous age granitoids of the Tombstone Plutonic Suite. The intrusions are interpreted to be of similar character to the Dublin Gulch stock, which hosts the company’s Eagle gold deposit. Minerals found within the veins and locally disseminated within the sediments and intrusions include arsenopyrite, realgar, chalcopyrite, pyrite, bismuthinite and rare galena.
NUGGET - RAVEN
NUGGET
The Nugget stock, the second largest intrusion on the Dublin Gulch Property (second only the Dublin Gulch Stock that hosts the Eagle Gold Mine), consists of an approximately 2.2-kilometre by 1.2-kilometre granodiorite. The Nugget stock is hosted in metasediments. Arsenic + gold soil anomalies occur along the edges of the Nugget stock. The Nugget intrusion is akin to the Eagle Deposit host rock, and has been the subject of limited historic exploration work due to historic inaccessibility of the area. Starting in 2017 an access trail was constructed and has, for the first time ever, allowed vehicular access to this high-priority target.
Historically, a gold-in-soils geochemical anomaly that graded from trace up to 1.12 g/t Au in soils has been defined along with associated first pass trench samples that graded from trace up to 2.38 g/t Au and grab samples from trace up to 1.35 g/t Au.
Mineralization encountered thus far consists of quartz-arsenopyrite and polymetallic veins occurring peripheral to and within the Nugget stock.
RAVEN
The Raven target is located at the south eastern edge of the Nugget Stock. The area is underlain by deformed and faulted metasediments. The Raven target is interpreted to be hosted in a dilatational fracture zone within the Nugget Stock, in close association with the intrusion-metasediment contact.
The Raven target was discovered in 2018 during an evaluation of the Nugget Stock. Soil samples over the Raven target area returned coincident arsenic + bismuth + gold anomalies. Follow up trenching uncovered mineralization at surface with the best trench results returning 3.51 g/t gold over 124 metres. Subsequent drilling (2018, 2019 and 2020) outlined the mineralization for 750 metres along strike and is open at depth and to the east and west.
Mineralization consists of arsenopyrite dominant polymetallic veins. The veins and vein sets are remarkably consistent across Raven and preliminary mapping suggests these mineralized veins occur with steep to moderate dips with West to Southwest strike. Intense shearing deforms the vein sets along an east west orientation that is open along strike in both directions and in particular down dip. Multiple phases of mineralization at Raven have been identified, a fact that underscores the potential for Raven to host a meaningful gold deposit.
To date there have been: 6,042 soils, 7493m trenches, 9647.62m Diamond drilling from 43 holes to define the Raven Zone.
A major focus of Victoria’s 2021 exploration program is to evaluate the entirety of the Nugget Stock for Eagle-style deposits while continuing to expand the high-grade footprint of Raven. Results of the 2021 exploration program are expected by late 2021.
NUGGET
The Nugget stock, the second largest intrusion on the Dublin Gulch Property (second only the Dublin Gulch Stock that hosts the Eagle Gold Mine), consists of an approximately 2.2-kilometre by 1.2-kilometre, medium to coarse grained granodiorite of mid-Cretaceous age. The Nugget stock is hosted in Earn group and Keno Hill Quartzite metasediments. Coincident arsenic + gold soil anomalies occur along the contact margins of the Nugget stock. The Nugget intrusion is akin to the Eagle Deposit host rock, and has been the subject of limited historic exploration work due to historic inaccessibility of the area. Starting in 2017 an access trail was constructed and has, for the first time ever, allowed vehicular access to this high-priority Dublin Gulch Gold Camp target.
Historically, a gold-in-soils geochemical anomaly that graded from trace up to 1.12 g/t Au in soils has been defined along with associated first pass trench samples that graded from trace up to 2.38 g/t Au and grab samples from trace up to 1.35 g/t Au.
A grab sample collected in 2017 from a vein uncovered during Nugget access construction consisted of primarily galena and returned values of 1,440 g/t Ag, 63.44 % Pb, 1.435 % Zn. Another 2017 grab sample from a vein consisting of primarily sulphosalts (jamesonite) returned values of 0.515 g/t Au, 82 g/t Ag 20.3% Pb, 8.34 % Sb, and 4.2 % As. Lastly, a 2017 grab sample from an historic trench on the Nugget stock returned 0.202 g/t Au, 3.7 g/t Ag and 1.3 % As.
Mineralization encountered thus far consists of quartz-arsenopyrite and polymetallic veins occurring peripheral to and within the Nugget stock.
Zone: LYNX
The Lynx target is road accessible and located centrally in the Dublin Gulch claim block approximately 5 km southwest of Nugget/Raven; and is centred on a 400 by 700 m exposure of granodiorite stock that intrudes overlying metasediment package. The Lynx project exhibits similar characteristics to Victoria Gold’s Nugget and Raven exploration projects.
The Lynx target first demonstrated mineralization potential in the mid 1990’s with an encouraging preliminary drilling/trenching campaign, during the initial assessment of the Dublin Gulch Gold Camp; it received follow-up drilling in 2004, and has remained unexplored since.
Mineralization identified to date is concentrated along the contact between the intrusion and surrounding country rock, similar to much of the mineralization elsewhere on the Dublin Gulch claim block; and within the Potato Hills Trend. An interpretation of the diamond drilling and trenching completed to date suggests an east-west strike to mineralization and limited soil sampling conducted to the east and west of the prospect suggests continuity of mineralization in both directions. Mineralization intersected in diamond drilling is open at depth and along strike to the east and west, and soil data indicate Au in soil > 30 ppb to the east and west of the prospect.
Multiple significant mineralized intersections of gold have been identified from the small 2020 drilling campaign. Early-stage trench results are extremely encouraging, with two parallel trenches 385-m apart both ending in mineralization. The 2020 Exploration campaign consisted of 1609 soils, mapping, 720m trenches, 594.36 m DDH and the establishment of an exploration camp. Victoria’s 2021 program at Lynx is focused on drilling and trenching following up on the previous exploration campaigns to continue to delineate mineralization along strike and down dip. Results of the program are expected in late fall.
GRID POWER CONNECTION
Power to site is supplied via a new 45km 69kV transmission line from the Yukon Energy Corporation’s grid via the McQuesten Sub-Station located at the Silver Trail Highway turn-off to the mine site. The new line terminates at the mine sub-station where it is transformed down to 13.8kV for site wide distribution via over-head and buried cables to the mine facilities.
The mine has a 4.95MW power plant located next to the site sub-station to provide back-up and emergency power.
Raven
The Raven target is located at the contact zone at the extreme south eastern portion of the Nugget Stock. The area is underlain by the Devonian to Mississippian age Earn Group and the Early Carboniferous age Keno Hill Quartzite that have been subjected to greenschist facies metamorphism, folding, and thrusting. The Raven target is interpreted to be hosted in a dilatational fracture zone within the Nugget Stock, in close association with the intrusion-metasediment contact.
The Raven target was discovered in 2018 during an evaluation of the Nugget Stock. Soil samples over the Raven target area returned coincident arsenic + bismuth + gold anomalies. Follow up trenching uncovered mineralization at surface with the best trench results returning 3.51 g/t gold over 124 metres. Subsequent drilling (2018, 2019 and 2020) outlined the mineralization for 750 metres along strike and is open at depth and to the east and west.
Mineralization consists of arsenopyrite dominant polymetallic veins. The veins and vein sets are remarkably consistent across Raven and preliminary mapping suggests these mineralized veins occur with steep to moderate dips with West to Southwest strike. Intense shearing deforms the vein sets along an east west orientation that is open along strike in both directions and in particular down dip. Multiple phases of mineralization at Raven have been identified, a fact that underscores the potential for Raven to host a meaningful gold deposit.
A major focus of Victoria’s future exploration plans will be to evaluate the entirety of the Nugget Stock for Eagle-style deposits while continuing to expand the high-grade footprint of Raven.
To date there have been: 6,042 soils, 7493m trenches, 9647.62m Diamond drilling from 43 holes to define the Raven Zone
Zone: Lynx
The Lynx target is road accessible and located centrally in the Dublin Gulch claim block approximately 5 km southwest of Nugget/Raven; and is centred on a 400 by 700 m elliptical exposure of granodiorite stock that intrudes overlying metasedimentary Proterozoic Hyland Group and Devono-Missippian Keno Hill Quartzite formations. The Lynx project exhibits similar characteristics to Victoria Gold’s Nugget and Raven exploration projects.
The Lynx first demonstrated mineralization potential in the mid 1990’s with an encouraging preliminary drilling/trenching campaign, during the initial assessment of the Dublin Gulch Gold Camp; it received follow-up drilling in 2004, and has remained unexplored since. Significant historical intercepts from 1997 trenching and diamond drilling include:
Mineralization identified to date is concentrated along the contact between an igneous intrusion and surrounding country rock, similar to much of the mineralization elsewhere on the Dublin Gulch claim block; and within the PHT. An interpretation of the diamond drilling and trenching completed to date suggests an east-west strike to mineralization and limited soil sampling conducted to the east and west of the prospect suggests continuity of mineralization in both directions. Mineralization intersected in diamond drilling is open at depth and along strike to the east and west, and soil data indicate Au in soil > 30 ppb to the east and west of the prospect.
Multiple significant mineralized intersections of gold have been identified from the 2020 drilling campaign. Early-stage trench results are extremely encouraging, with two parallel trenches 385-m apart both ending in mineralization. The 2020 Exploration campaign consisted of 1609 soils, mapping, 720m trenches, 594.36 m DDH and the establishment of an exploration camp.
CRUSHERS
THREE STAGE CRUSH
Gold-bearing ore is crushed to 10 mm in size in a 3-stage crushing process.
Ore is transported from the open pit by haul truck to the Primary Crusher where it is crushed to approximately 12 cm in size, about the size of a grapefruit.
The crushed ore is then conveyed from the Primary Crusher to the Secondary and Tertiary Crushers where it is crushed to a size of 10 mm, about the size of a grapefruit seed.
EAGLE CAMP
300-PERSON CAMP
The 300-person camp is well equipped with dining facilities, lounge, full gym, recreation area.
In addition, the camp area includes an ERT building, indoor cold storage building and a heated equipment shop.
EAGLE RESERVE
MINERAL RESERVES
In December 2019 Victoria Gold Corp released the results of a National Instrument 43-101 Technical Report for its 100% owned Eagle Gold Project. Probable Mineral Reserves are the economically mineable portions of the Indicated in-pit Mineral Reserves as demonstrated by the feasibility study.
Per the feasibility study, the combined Proven and Probable Reserve of the Eagle Gold Deposit totals 3.3 million ounces of gold, and mineralization remains open along strike and to depth.
The Eagle Gold Deposit lies within the Tintina Gold Belt and the Eagle Gold Mine Resource trends in an east-west direction for over 1,050 metres and to a depth of 475 metres.
The Eagle Gold Deposit can be simplified and described as an intrusive related, sheeted vein hosted gold deposit, predominantly composed of granodiorite, emplaced within a meta-sedimentary package, predominantly composed of phyllites and quartzites. In general, the granodiorite hasing the Eagle Gold Orebody can be subdivided into three main ore types, an oxidized, an altered and an unaltered type, though geochemical differences in these are minimal. Alteration tends to be dominated by sericite, albite, potassium feldspar, carbonate and chlorite and preferentially occurs locally to veining. While mineralization is associated with the intrusive stock, it is not spatially limited to the intrusive. Gold-bearing veins are found in all of the main geological units including the meta-sediments.
EVENTS POND
MINE SAFETY AND RISK MITIGATION
The Events Pond temporarily stores excess process solution during rare upset events, and/or freshet events as needed, and normal precipitation that occurs on the pond. The solution contained in the pond will be recycled back into the heap leach circuit as required.
GOLD RECOVERY PLANT
GOLD EXTRACTION
In the Gold Recovery Plant, the gold is extracted from the solution.
Once the gold is extracted from the solution, the ‘barren’ solution, is recycled and pumped back to be used on the Heap Leach Facility.
The gold is extracted from the pregnant solution by activated carbon adsorption and desorption, followed by electrowinning onto steel cathodes. The recovered gold is then heated to over 1000 degrees Celsius and poured into doré bars.
The doré bars produced at the Eagle Gold Mine weigh approximately 1000 ounces and contain gold and some silver.
The doré bars are shipped to the Canadian Mint for final refining to 99.99% gold.
HEAP LEACH FACILITY
HEAP LEACHING
Gold extraction utilizes cyanide heap leaching technology. Similar technology was employed in Yukon at the Brewery Creek mine in the late 1990s, and has been employed successfully in other cold climates such as the United States of America (Alaska), Chile, Argentina, Turkey and Russia. This process uses methods developed since the 1980s to maintain temperatures above freezing year round for optimal performance.
The Heap Leach Facility is located in a valley that has a protective double or triple liner installed, is constructed in three phases starting from the lower portion of the valley and progressing upwards. The facility is comprised of a solution sump, piping, leak detection and recovery and monitoring systems.
Crushed gold bearing ore from the Secondary / Tertiary Crushers is conveyed via the Overland Conveyor where mobile stackers stack the crushed ore in 10 metre lifts, or layers.
Approximately one million tonnes of ore will be processed each month.
A network of drip emitter tubing is installed on each layer distributes a weak cyanide solution through the tubing and percolates down through the stacked ore dissolving the gold.
The ‘pregnant’ or gold laden solution collects into wells and is pumped to the Gold Recovery Plant.
OPEN PIT
BLASTING, LOADING, HAULING
Per the Feasibility Study, the Eagle Reserve contains 3 million ounces of gold and will take approximately 11 years to mine. The Eagle Open Pit is situated on a hillside, and when completed will measure greater than 2000 metres long, 1000 metres wide and 800 metres deep.
Rock in the Open Pit is blasted, and then loaded into haul trucks to be hauled to the Primary Crusher.
Non gold bearing material is hauled to a waste rock storage area.
Ore is hauled to the Primary Crusher and then conveyed onwards to the Secondary and Tertiary Crushers.
The Eagle Gold Mine fleet includes two CAT 6040 shovels and eleven CAT 785D haul trucks.
Each shovel bucket can hold 40 tonnes of material and each haul truck can hold over three scoops, or 150 tonnes.
Additionally, the mine plan benefits from a favourable strip ratio of 0.95:1
PRIMARY CRUSHER
CRUSHING AND CONVEYING
The Primary Crusher is the first stage of the three-stage crushing process.
Gold-bearing ore from the open pit is hauled to the Primary Crusher, a gyratory crusher, which crushes the ore boulders to an average of 12 cm in size, about the size of a grapefruit.
The crushed ore is conveyed via the coarse ore conveyor circuit to the Secondary and Tertiary Crushers.
SECONDARY & TERTIARY CRUSHER
CRUSHING AND CONVEYING
The Secondary & Tertiary crushers further crush the ore for placement onto the Heap Leach Facility.
Crushed ore from the Primary Crusher is conveyed via the Coarse Ore Conveyors to the Secondary and Tertiary Crushers, where it is crushed to 10 mm in size.
The ore is then conveyed overland approximately 1.5 km to the Heap Leach Facility where it is stacked in 10 metre lifts, or layers.
SECONDARY & TERTIARY CRUSHER
CRUSHING AND CONVEYING
The Secondary & Tertiary crushers further crush the ore for placement onto the Heap Leach Facility.
Crushed ore from the Primary Crusher is conveyed via the Coarse Ore Conveyors to the Secondary and Tertiary Crushers, where it is crushed to 6.5 mm in size.
The ore is then conveyed overland approximately 1.5 km to the Heap Leach Facility where it is stacked in 10 metre lifts, or layers.
SECONDARY & TERTIARY CRUSHER
CRUSHING AND CONVEYING
The Secondary & Tertiary crushers further crush the ore for placement onto the Heap Leach Facility.
Crushed ore from the Primary Crusher is conveyed via the Coarse Ore Conveyors to the Secondary and Tertiary Crushers, where it is crushed to 6.5 mm in size.
The ore is then conveyed overland approximately 1.5 km to the Heap Leach Facility where it is stacked in 10 metre lifts, or layers.
ZONE: VBW
FALCON
Victoria's VBW claims are located in the Mayo Mining District approximately 80 km from Mayo and 10 km from the Eagle Gold Deposit. The VBW claim block is contiguous with the Company's Dublin Gulch Property.
Target Deposit Type
The VBW Project represents an analogous precious metals exploration target akin to the Company's Eagle Gold Deposit, large-tonnage, intrusion-related gold systems associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulphide ± silver-sulphosalt veins.
Project Summary
In November 2011 Victoria Gold staked 1,012 quartz mining claims, covering approximately 205 km2 (20,500 hectares) of First Nation of Na-Cho Nyak Dun (FNNND) Category B lands immediately to the west of its Dublin Gulch Property. Surface rights on the Category B Lands belong to the FNNND and are part of the FNNND's final Umbrella Agreement with the federal and territorial governments. The FNNND signed an agreement giving consent to Victoria for staking claims and conducting exploration on the Category B Lands.
The VBW Claim Block covers the southwest strike extent of the highly prospective Potato Hills Trend, which is defined by several outcropping granodiorite bodies and a number of large-scale faults that potentially host mineralization similar to the Company's flagship Eagle deposit. The Claim Block, (Figure 1, highlighted in green), is considered highly prospective for intrusion-related gold system (IRGS) type mineralization and had not seen any mineral exploration activities in over 20 years. Historical exploration on the VBW Property included mapping and sampling by the Yukon Geological Survey in the mid-1990's, and minor, poorly documented prospecting for gold and silver in the early- to mid-20th century.
Geology and Mineralization
The VBW claims are underlain by Hyland Group metasedimentary rocks with minor outcropping igneous rocks. The VBW claims cover the southwest extension of the Potato Hills Trend, a > 13 km long zone of gold mineralization and geochemical anomalies corresponding with the regional-scale Tombstone High Strain Zone and the northwest contact of the Dublin Gulch granodiorite. Felsic igneous rocks interpreted to be of similar chemistry and origin to the Dublin Gulch granodiorite outcrop in the central part of the claims. In the southern part of the VBW claims YGS geologists mapped a 2 km east-west trending zone of contact metamorphism in the Hyland Group metasedimentary package but did not identify a contributing intrusion in the vicinity, although the presence of a hornfels zone strongly suggests a proximal buried plutonic body.
Zone: Dublin Gulch
The Dublin Gulch property is located approximately 85 km by road north northeast of the Village of Mayo, Yukon. The Dublin Gulch claim block is situated within the Tintina Gold Belt and hosts the flagship Eagle Gold deposit as well as multiple other targets at various stages of development.
Deposit Type
Large-tonnage reduced intrusion-related gold systems associated with Cretaceous Tombstone and Mayo suite granodiorite intrusions and structurally-controlled high-grade gold-sulfide veins.
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property is situated in the 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 Gold Deposit. The Eagle Gold Mine is under construction and is expected to be Yukon's next operating gold mine. The Eagle and Olive deposits, include Proven and Probable Reserves of 2.7 million ounces of gold from 123 million tonnes of ore with a grade of 0.67 grams of gold per tonne, as outlined in a National Instrument 43-101 feasibility study. The NI 43-101 Mineral Resource for the Eagle and Olive deposits has been estimated to host 191 million tonnes averaging 0.65 grams of gold per tonne, containing 4.0 million ounces of gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 24 million tonnes averaging 0.61 grams of gold per tonne, containing 0.5 million ounces of gold in the "Inferred" category.
Cautionary Language and Forward-Looking Statements
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.
WELCOME
This virtual tour provides information about the Eagle Gold Mine, the largest gold mine in Yukon History.
Victoria Gold Corp’s Eagle Gold Mine is in production and poured its first gold on September 17, 2019. The mine construction was completed 6 weeks ahead of schedule and on budget. The mine achieved commercial production on Canada Day, July 1st, 2020, and is well on its way to reaching full production of 200,000 oz gold per year.
Located in central Yukon, recognized as a safe mining jurisdiction, the mine is well supported by local infrastructure including a 300-person camp, an all-weather access road, direct connection to grid power and an airstrip 40 km to the south in the community of Mayo. The mine is a technically straight forward low-cost, open pit, in-valley heap and gold recovery plant.
The Eagle God Mine will produce an average of approximately 200,000 ounces of gold per year for 11+ years.
When in full operation, the mine will be a significant economic contributor to the Yukon employing 350-400 people.
Two gold deposits, called ‘Reserves’ will be mined – named Eagle and Olive. As at December 31, 2022, the Reserve is 2.6 million ounces of gold (124 m tonnes grading 0.65 g/t). The long-life Eagle Gold Mine has high likelihood for further mine life extension at depth and along strike.
Exploration potential across the greater Dublin Gulch property is excellent and includes priority targets Raven and Lynx among others. Victoria Gold also holds a suite of other impressive development and exploration properties in Yukon including Brewery Creek, Clear Creek, Gold Dome and Grew Creek.
Forward Looking Statements:
All statements, other than statements of historical fact, contained in this presentation constitute “forward - looking statements” and are based on the reasonable expectations, estimates and projections as of the date of this presentation . Forward - looking statements include, without limitation, possible events, trends and opportunities and statements with respect to possible events, trends and opportunities, including with respect to, among other things, the growth of the gold market, global market trends, expected industry demands, costs and timing of business acquisitions, capital expenditures, successful development of potential acquisitions, currency fluctuations, government regulation and environmental regulation . The words “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” and similar expressions identify forward - looking statements . Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies . The estimates and assumptions contained in this presentation, which may prove to be incorrect, include, but are not limited to, the various assumptions of the company set forth herein . Known and unknown factors could cause actual results to differ materially from those projected in the forward - looking statements . Such factors include, but are not limited to potential conflicts of interest of officers or directors involved in the company’s future business, or conflicts of interest related to approving a potential acquisition transaction ; success in obtaining any required additional financing to make an acquisition or develop and acquire business ; a limited pool of prospective acquisition targets ; potential change in control if the company acquired one or more target businesses for stock ; successful performance of any acquired business going forward, fluctuations in the currency markets ; changes in national and local government legislation , taxation , controls, regulations and political or economic developments in the jurisdictions in which the company does or expects to do business ; operating or technical difficulties in connection with the properties of the company ; employee relations ; risks associated with obtaining any necessary licenses or permits . Many of these uncertainties and contingencies can affect the company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward - looking statements made by, or on behalf of, the company . There can be no assurance that forward - looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements . All of the forward - looking statements made in this presentation are qualified by these cautionary statements . These factors are not intended to represent a complete list of the factors that could affect the company . The company disclaims any intention or obligation to update or revise any forward - looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward - looking statements, except to the extent required by applicable law . The forward - looking statements set forth herein are for the purpose of providing potential investors with information concerning the company’s future business plans in order to assist potential investors in determining whether or not to invest in subscription receipts of the company and may not be appropriate for other purposes . The reader is cautioned not to place undue reliance on forward - looking statements.
NATIONAL INSTRUMENT 43 - 101 A copy of our NI 43 - 101 Feasibility Study Technical Report For The Eagle Gold Project, Yukon dated September 12 , 2016 prepared by JDS Energy & Mining, Inc. can be found on Sedar.com and our website at www.vitgoldcorp.com.
QUALIFIED PERSON The Technical content of this presentation has been reviewed and approved by Tony George P . Eng , and Paul Gray, P. Geo the Company’s Qualified Persons as defined by National Instrument 43 - 101.
WELCOME
This virtual tour provides information about the Eagle Gold Mine, the largest gold mine in Yukon History.
Victoria Gold Corp’s Eagle Gold Mine is in production and poured its first gold on September 17, 2019. The mine construction was completed 6 weeks ahead of schedule and on budget. The mine achieved commercial production on Canada Day, July 1st, 2020, and is well on its way to reaching full production of 200,000 oz gold per year.
Located in central Yukon, recognized as a safe mining jurisdiction, the mine is well supported by local infrastructure including a 300-person camp, an all-weather access road, direct connection to grid power and an airstrip 40 km to the south in the community of Mayo. The mine is a technically straight forward low-cost, open pit, in-valley heap and gold recovery plant.
The Eagle God Mine will produce an average of approximately 200,000 ounces of gold per year for 11+ years.
When in full operation, the mine will be a significant economic contributor to the Yukon employing 350-400 people.
Two gold deposits, called ‘Reserves’ will be mined – named Eagle and Olive. As at December 31, 2022, the Reserve is 2.6 million ounces of gold (124 m tonnes grading 0.65 g/t). The long-life Eagle Gold Mine has high likelihood for further mine life extension at depth and along strike.
Exploration potential across the greater Dublin Gulch property is excellent and includes priority targets Raven and Lynx among others. Victoria Gold also holds a suite of other impressive development and exploration properties in Yukon including Brewery Creek, Clear Creek, Gold Dome and Grew Creek.
Forward Looking Statements:
All statements, other than statements of historical fact, contained in this presentation constitute “forward - looking statements” and are based on the reasonable expectations, estimates and projections as of the date of this presentation . Forward - looking statements include, without limitation, possible events, trends and opportunities and statements with respect to possible events, trends and opportunities, including with respect to, among other things, the growth of the gold market, global market trends, expected industry demands, costs and timing of business acquisitions, capital expenditures, successful development of potential acquisitions, currency fluctuations, government regulation and environmental regulation . The words “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” and similar expressions identify forward - looking statements . Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies . The estimates and assumptions contained in this presentation, which may prove to be incorrect, include, but are not limited to, the various assumptions of the company set forth herein . Known and unknown factors could cause actual results to differ materially from those projected in the forward - looking statements . Such factors include, but are not limited to potential conflicts of interest of officers or directors involved in the company’s future business, or conflicts of interest related to approving a potential acquisition transaction ; success in obtaining any required additional financing to make an acquisition or develop and acquire business ; a limited pool of prospective acquisition targets ; potential change in control if the company acquired one or more target businesses for stock ; successful performance of any acquired business going forward, fluctuations in the currency markets ; changes in national and local government legislation , taxation , controls, regulations and political or economic developments in the jurisdictions in which the company does or expects to do business ; operating or technical difficulties in connection with the properties of the company ; employee relations ; risks associated with obtaining any necessary licenses or permits . Many of these uncertainties and contingencies can affect the company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward - looking statements made by, or on behalf of, the company . There can be no assurance that forward - looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements . All of the forward - looking statements made in this presentation are qualified by these cautionary statements . These factors are not intended to represent a complete list of the factors that could affect the company . The company disclaims any intention or obligation to update or revise any forward - looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward - looking statements, except to the extent required by applicable law . The forward - looking statements set forth herein are for the purpose of providing potential investors with information concerning the company’s future business plans in order to assist potential investors in determining whether or not to invest in subscription receipts of the company and may not be appropriate for other purposes . The reader is cautioned not to place undue reliance on forward - looking statements.
NATIONAL INSTRUMENT 43 - 101 A copy of our NI 43 - 101 Feasibility Study Technical Report For The Eagle Gold Project, Yukon dated September 12 , 2016 prepared by JDS Energy & Mining, Inc. can be found on Sedar.com and our website at www.vitgoldcorp.com.
QUALIFIED PERSON The Technical content of this presentation has been reviewed and approved by Tony George P . Eng , and Paul Gray, P. Geo the Company’s Qualified Persons as defined by National Instrument 43 - 101.