Mining News: Wide gold zone cut beyond Eagle Gold

Victoria Gold Corp. Oct. 23 reported 624.1 meters of 0.5 grams per metric ton gold was encountered across the entire length of the second hole drilled at Eagle Deep, an extension of the Eagle Gold zone at its Dublin Gulch property in the Yukon. This long intercept in this hole, DG17-922, included 371.1 meters of 0.65 g/t gold from 185.9 meters; 37.2 meters of 1.27 g/t gold from 249.8 meters; and 38.8 meters of 1.2 g/t gold from 468.3 meters. This is the second of four holes targeting previously untested areas adjacent to, and below the pit-boundary outlined in a 2016 feasibility study for the Eagle Gold Mine project. DG17-910C, the first of the Eagle Deep hole drilled, cut 423 meters of 0.59 g/t gold from 221 meters. In addition to validating gold mineralization beyond the pit boundary, Victoria said gold mineralization was encountered within the pit boundary that had not previously been established within the Eagle Gold Mine block model due to lack of drill density at depth, indicating further upside potential of the Eagle Gold Mine. "Eagle Deep assay results continue to impress," said Victoria Gold President and CEO John McConnell. "These newest results from alongside and beneath the current Eagle pit walls drive home the fact that there is more to Eagle than just what was captured in the Feasibility Study. 2017 continues to be an exciting exploration season for us. Diamond drilling and exploration activities are still in full swing and we look forward to additional exploration results throughout Q4, 2017." The open-pit, heap-leach operation outlined in the feasibility study for Eagle Gold is expected to produce 190,000 ounces of gold annually over a 10-year mine life from 116 million metric tons of reserves averaging 0.67 g/t (2.66 million oz) gold. In August, Victoria broke ground on the first phase of development of this open-pit, heap-leach operation and is targeting the first gold pour from Eagle in 2019.

–SHANE LASLEY