- Victoria Gold (TSX:VGCX) has launched commercial production at its Eagle Gold Mine in Yukon, Canada
- All facilities required at the site are complete, and mining, crushing, processing and maintenance operations are currently under way
- The open-pit mine has a measured and indicated mineral resource of 3.6 million ounces of gold
- The Eagle Gold Mine sits within the wholly owned Dublin Gulch property, approximately 375 kilometres north of the capital city of Whitehorse
- Victoria Gold (VGCX) is up 4.58 per cent and is trading at C$14.84 per share
Victoria Gold (TSX:VGCX) has launched commercial production at its Eagle Gold Mine in Yukon, Canada.
As of July 1, 2020, all of the necessary facilities required at the current stage of operation have been completed, and mining, crushing, processing and maintenance activities are currently under way.
With production now under way, the Eagle Gold Mine will produce gold doré from a traditional open pit site with a three-stage crushing plant, in-valley heap leach and carbon-in-leach adsorption-desorption gold recovery plant.
It sits within Victoria Gold’s wholly owned Dublin Gulch property, approximately 375 kilometres north of the capital city of Whitehorse and 85 kilometres north-northeast of the town of Mayo. Connected to the Yukon power grid, the property features a commercial airstrip used to transport personnel.
Exploration efforts at the property began in the early 1990s and continued under a number of different operators, including StrataGold which was acquired by Victoria Gold in 2009. Since 2012, the primary focus of exploration programs has been on in-fill drilling at the Eagle Zone.
According to a Technical Report released in 2019, the Eagle Gold Mine is estimated to hold a measured and indicated mineral resource of 3.6 million ounces of gold.
John McConnell, President and CEO of Victoria Gold, said that site activities are continuing to progress well with operations now approaching design capacity.
“This consistent production combined with materially positive operating cash flow has allowed Victoria management to declare commercial production as of July 1, 2020. Achievement of commercial production is a meaningful and memorable accomplishment that the entire team is proud to be part of.
“Special thanks goes to so many contributors, including the local communities and the First Nation of Na-Cho Nyak Dun who have helped us make Eagle a reality,” he added.
Victoria Gold (VGCX) is currently up 4.58 per cent and is trading at C$14.84 per share at 12:05pm EDT.