Victoria Gold Announces Maiden Resource Of 1.1 Million Inferred Gold Ounces At Raven Deposit

Victoria Gold (TSX: VGCX) this morning announced a maiden resource estimate for a deposit discovered on its property back in 2018. Referred to as the Raven Gold Deposit, the deposit is just 15 kilometres to the east of the firms Eagle Gold Mine.

The maiden resource estimate consists of 1,070,239 ounces of inferred gold, which is based on surface exploration and drilling conducted on the property from 2018 through to 2021. Data from the currently ongoing drill program at the deposit was not included in the estimate, with a total of 78 holes across 18,217 metres of drilling utilized to establish the resource.

The inferred estimate has a cut-off grade of 0.50 g/t gold, with the deposit consisting of just under 20.0 million tonnes at 1.67 g/t gold within an open-pit model.

Current drilling meanwhile has expanded the deposit 325 metres to the east of the deposit, with 25,000 metres of the drill campaign being undertaken this year focused on the Raven deposit.

“Raven is a new discovery made by our team in 2018 through geophysics, geochemistry, prospecting, trenching, and drilling along the contact of the Nugget intrusive, 15 kilometers east of Eagle. Follow-up exploration was hampered by COVID, yet in three exploration seasons we have identified a significant Resource,” said CEO John McConnell.

Victoria Gold last traded at $7.93 on the TSX.


Information for this briefing was found via Sedar and the companies 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.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Yukon Government Seeks To Appoint Receiver Over Victoria Gold

Victoria Gold (TSX: VGCX) appears to have lost control of the situation at its Eagle...

Wednesday, August 14, 2024, 09:13:24 AM

Victoria Gold Placed Into Receivership, Expected To Be Delisted

It’s all over for Victoria Gold (TSX: VGCX). Following the firms announcement this morning that...

Wednesday, August 14, 2024, 10:11:10 PM

Sabre Gold Sells Brewery Creek Mine, Exploration Assets To Victoria Gold For $13.5 Million

Sabre Gold Mines (TSX: SGLD) is receiving a much needed cash infusion after the sale...

Friday, September 15, 2023, 08:47:34 AM

Victoria Gold CEO Reflects on “Mistake” Amid Yukon Cyanide Spill

Victoria Gold (TSX: VGCX) is grappling with the aftermath of a catastrophic cyanide spill at...

Friday, August 16, 2024, 02:18:00 PM

Victoria Gold Produces 164,222 Ounces In 2021, Hits Last-Minute Guidance Cut

Victoria Gold Corp. (TSX: VGCX) announced this morning its production results for Q4 and full-year...

Thursday, January 6, 2022, 12:27:00 PM