Victoria Gold Corp (TSX: VGCX) has confirmed that no injuries were associated with the failure and landslide at the Eagle Gold Mine’s heap leach facility north of Mayo, Yukon. In a message posted on their website and sent out via email, the company acknowledged some damage to the mine’s infrastructure, noting that “a portion of the failure has left containment.”
Heap leach mining is a critical operation at the Eagle Gold Mine, involving the extraction of precious metals from ore using chemicals. This process typically involves stacking ore in large heaps and applying a leaching solution, often containing cyanide, which dissolves the precious metals. The solution is then collected and processed to extract the metals. Failures in heap leach facilities can lead to significant environmental impacts, especially if toxic substances are released beyond containment areas.
“Operations are temporarily suspended while the site operations team along with management continue to assess the situation and gather information,” Victoria Gold’s statement reads. The company has pledged to provide further updates as more information becomes available.
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Earlier, a representative from the Yukon government’s Department of Energy, Mines and Resources confirmed that Victoria Gold reported the heap leach failure this morning. The department spokesperson also noted that no workers were injured in the incident. Mine operations have been halted as natural resource officers conduct investigations.
Reports initially emerged of a significant landslide at the mine, with photos submitted by witnesses appearing to show a large slide near the heap leach facility and gold recovery plant. Requests for information from Victoria Gold’s CEO and the Yukon government’s Department of Energy, Mines and Resources had not been returned at the time of the initial report.
As of now, the primary focus remains on assessing the extent of the damage and ensuring that any potential environmental impacts are contained. The Yukon government has deployed natural resource officers to investigate the cause of the failure and to oversee the company’s response measures.
Osisko Gold Royalties, a significant stakeholder in the Eagle Gold Mine, holds a 5% net smelter return (NSR) royalty on the property.
Information for this briefing was found via Yukon News and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
