Victoria Gold: Eagle Mine's Live First Gold Pour on Tuesday, September 17, 2019
TORONTO, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX.V-VIT) (“Victoria” or the “Company”) is excited to announce that on Tuesday, September 17, we will be hosting our first gold pour, live streamed, at 8:15pm EDT on our website.
You can register to view the live webcast on the Company’s website www.vitgoldcorp.com.
“The pouring of first gold at Eagle is an important milestone and we are thrilled to share it with everyone,” stated John McConnell, President & CEO. “Looking back, this is the culmination of many years of dedication and hard work by numerous stakeholders. Looking forward, this first gold pour is expected to be swiftly followed by positive cash flow and we intend to grow production and resulting cash flow into the future.”
We are also pleased to be featured on national TV Saturday, September 14 & Sunday September 15. BTV Business Television heads up to Canada’s Yukon for a special episode on the thriving mining community. PI Financial Corp’s Precious Metals Analyst, Chris Thompson weighs in on the excitement around Canada’s next gold mine.
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year-round, and is located within Yukon Energy's electrical grid.
The Property covers an area of approximately 555 square kilometers, and is the site of the Company's Eagle 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 entitled Report for the Eagle Gold Project and dated October 26, 2016. The NI 43-101 Mineral Resource for the Eagle and Olive deposits has been estimated, as at December 5, 2018, to host 208 million tonnes averaging 0.66 grams of gold per tonne, containing 4.4 million ounces of gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 20 million tonnes averaging 0.64 grams of gold per tonne, containing 0.4 million ounces of gold in the "Inferred" category.
Qualified Person
The technical content of this news release has been reviewed and approved by Anthony (Tony) George, P.Eng., as the Qualified Person. For additional information relating to the Property, refer to the technical report entitled “NI 43-101 Feasibility Study Technical Report for the Eagle Gold Project, Yukon Territory, Canada”, with an effective date of September 12, 2016, which is available on the Company’s profile at www.sedar.com.
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.
For Further Information Contact:
John McConnell
President & CEO
Victoria Gold Corp
Tel: 416-866-8800
Fax: 416-866-8801
