Victoria Gold Corp - VITFF stock
Overview[edit]
Victoria Gold Corp. (TSX:VGCX, OTC: VITFF) was incorporated in British Columbia, Canada, in 1981, and is currently headquartered in Toronto, Canada.[1] The company's principal business is gold mining; it acquires, operates and explores mineral properties to produce and sell gold.
Projects[edit]
Dublin Gulch[edit]
Victoria's primary holding is the Dublin Gulch, which it controls 100% of the rights. This project of 555 square kilometers is located approximately 375 kilometers north of the city of Whitehorse in central Yukon. The Eagle Gold Mine is estimated to contain 2.6 million ounces of gold. A report dated 12/31/22 indicates grading at 0.65 grams per ton. Other potential sites on the property are Raven and Lynx.[2]
Eagle Gold Mine[edit]
The Eagle Gold mine started work in mid-2019 and began commercial production in July, 2020. The mine utilizes a conventional open-pit approach to extract gold. This process involves a three-stage crushing plant, an in-valley heap leach system, and a carbon-in-leach adsorption-desorption gold recovery plant. The mine benefits from year-round road access, and its workforce, following a fly-in/fly-out schedule, is accommodated in a well-equipped camp capable of housing up to 250 people throughout all seasons. The mine is linked to the Yukon power grid, and there is a commercial airstrip situated 80 kilometers to the south near the village of Mayo, facilitating personnel transportation.[3]
Approximately 500 employees, along with numerous contractors and consultants, are engaged in the operations, making Victoria Gold a significant contributor to the local communities and the Yukon region's economy. Furthermore, the Eagle Gold Mine has established a longstanding Comprehensive Cooperation and Benefits Agreement with the First Nation of Nacho Nyak Dun, on whose traditional territory the mine is located.[3]
The mine is expected to produce up to 180,000 ounces of gold per year for approximately 20 years.
Brewery Creek[edit]
Brewery Creek is a formerly operational heap leach project spanning an area of 181 square kilometers, located in the northwestern Yukon, approximately 55 kilometers east of Dawson City. It is positioned 120 kilometers to the west of the Eagle gold mine. According to a technical report compliant with NI 43-101 standards, Brewery Creek holds a measured and indicated resource of 34.5 million metric tonnes with a gold grade of 1.03 grams per tonne, containing approximately 1.14 million ounces of gold. Additionally, there is an inferred resource of 36 million metric tonnes with a gold grade of 0.88 grams per tonne, equivalent to about 1.02 million ounces of gold. Furthermore, Brewery Creek is the focus of a preliminary economic assessment, indicating that it has the potential to function as an independent heap leach operation, with an annual gold production capacity ranging from 50,000 to 60,000 ounces over an estimated period of approximately 10 years.[4]
Raven[edit]
Testing during 2022 at the Raven site produced an estimate of 1.1 Million ounces at 1.7 g/t Au. The testing included a Proximal Program to define and test the mineralization potential and a Distal Exploration Program aimed at testing the extension of mineralization beyond the immediate area of Raven.[5]
Acquisitions[edit]
ATAC Resources[edit]
An attempt to acquire ATAC Resources failed with the board of ATAC would not allow a shareholder vote. As such, the offer of C$0.12 per share expired on February 17, 2023.[6]
Sable Gold Mines Assets[edit]
Victoria acquired the Brewery Creek gold project and additional assets from Sable Gold Mines for $13.5 million.[4]
- ↑ Google Finance. VITFF Quote. Retrieved on 1/7/2024.
- ↑ vgcx.com. Corporate Overview. Retrieved on 1/7/2024.
- ↑ 3.0 3.1 vgcx.com. Eagle Gold Mine Overview. Retrieved on 1/7/2024.
- ↑ 4.0 4.1 Resource World. Interview with Victoria Gold CEO McConnell tells how it is mining in the central Yukon Territory. November, 2023.
- ↑ GlobeNewswire. Victoria Gold Releases Highlighted Results From Raven Proximal Exploration Program. January 24, 2023.
- ↑ GlobeNewswire. Victoria Gold: Offer to ATAC Resources has Expired. February 20, 2023.
OTC Symbol: VITFF | OTC Tier: Pink Current
