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Eagle Gold Mine First Quarter 2022 Operational Highlights, Canadian Business Journal

Whitehorse, Yukon, April 7, 2022 (GLOBE NEWSWIRE) — Victoria Gold Corp. (TSX-VGCX) (“Victoria” or “Company”) will produce 24,358 ounces of gold in the first quarter of 2022. did.

John McConnell, President and Chief Executive Officer, commented: For spring, fresh ore is placed under irrigation, which significantly increases the stacking rate with gold production. “

Eagle Gold Mine First Quarter 2022 Operation Highlights

Our seasonal operational plan for 2022 included reducing ore stacking on the heap reach pad for the coldest 90 days of the year from January to March. During this time, a 6-week maintenance program for the crushing and stacking facility was completed. The very cold season of the year affected sales in the first quarter.

Eagle Gold Mine First Quarter 2022 Operational Highlights:

2021 2022
Q1 Q2
Mined ore Millions of tons 1.6 1.6 1.3 1.3
Mined waste Millions of tons 4.7 2.3
Total mining volume Millions of tons 6.2 6.2 3.6
Strip rate (Waste to ore) 2.9 1.7 1.7
Mining rate Thousands of tons / day 69 39 39
Ore piled up on the pad Millions of tons 0.9. 0.9.
Ore stack grade Gram / ton Au 0.87 0.72
Gold produced Ounces 26,759 24,358

First-quarter statistics are subject to insignificant adjustment differences.

As expected, gold production in the first quarter of 2022 was seasonally low, with limited ore stacking on heap reach pads. The tons piled up on the heap reach pad in the first quarter of 2022 were consistent with the first quarter of 2021. Gross tons mined in the first quarter of 2022 decreased compared to the same period last year due to sufficient stockpiles throughout 2021. advantageous. Similarly, less waste was mined. It reflects the fact that less waste was moved in the first quarter of 2022 compared to the first quarter of 2021. As the ore stacking rate on the heap reach pad accelerates, the mining rate will increase in future quarters.

Both gold grade and metallurgical recovery continue to be in good harmony with the Eagle Reserve model.

Qualified person
The technical content of this news release is Paul D. Gray, P. Geo, as “qualified person” as defined in National Instrument 43-101. Reviewed and approved by. Disclosure standards for mineral projects.

About Dublin Gulch Properties
The 100% owned Dublin Gulch Gold Property (“property”) of Victoria Gold is located in central Yukon, Canada, about 375 kilometers north of the capital Whitehorse and about 85 kilometers of the town of Mayo. The property is accessible by road all year round and is within the Yukon Energy power grid.

The property covers an area of ​​approximately 555 square kilometers and is the site of our Eagle and Olive Gold deposits. Eagle Gold Mine is Yukon’s newest operating gold mine. Eagle and olive deposits contain proven and estimated reserves of 3.3 million ounces of gold from 155 million tonnes of ore with a gold grade of 0.65 grams per ton. December 3, 2019. Mineral resources based on National Instrument 43-101 – Disclosure Standards for Mineral Projects The Eagle and Olive deposits (“NI43-101”) are estimated to host 227 million tonnes, including an average of 0.67 grams of gold per ton, with 4.7 million ounces of gold in the “Measurement and Display” category. It contains. It contains reserves, and an additional 28 million tonnes, an average of 0.65 grams of gold per ton, and 600,000 ounces of gold in the “estimated” category.

A word of caution and a statement about the future outlook
This press release contains certain statements that may be considered “forward-looking statements.” Except for the description of historical facts related to Victoria, the information contained herein constitutes information about the future outlook, including information related to Victoria’s strategy, plans, or future financial or operating results. Information about future prospects is characterized by words such as “plan,” “expectation,” “budget,” “goal,” “project,” “intention,” “believe,” “expect,” and “estimate.” Can be done. Or, a statement that a particular event or condition “can occur”, “occurs”, “can occur”, or “must occur”. Includes guidance and forecasts, including but not limited to our production and operational guidance, provided here. To provide information on such prospects, we make certain assumptions about the business, operations, economy, and mineral exploration industry in general, especially considering the impact of the new coronavirus and COVID-19 infections. I set it up. (“COVID-19”) About each of the above. In this regard, Kommuninvest will ensure that production levels remain in line with management expectations, that the contracting parties will provide goods and services in an agreed time frame, that the equipment will function as expected, and that the required regulatory authorities It is assumed that the approval is obtained, that there are no abnormal geological or technical problems, and that there are no serious adverse effects. Fluctuations in the price of gold will occur and no significant events will occur outside of our normal business process. Information about the future outlook is based on management’s opinions, assumptions, and estimates that are considered reasonable at the time the statement is issued, as well as various risks that may cause real events or consequences. Affected by uncertainty and other known and unknown factors. It is very different from the information contained or suggested in the forward-looking information. These factors include the impact of general business and economic conditions, risks to us related to COVID-19, global liquidity and credit availability at the timing of cash flows, projected future conditions, Includes the value of assets and liabilities based on expected metal production. Fluctuating metal prices, exchange rates, estimated ore grades, potential for ore grade or recovery rate fluctuations, changes in accounting policies, changes in Victoria’s corporate resources, changes in project parameters and development as planning refines. And changes in production period, cost overruns or potential unexpected costs and costs, uncertainty in estimates of mineral reserves and resources, rising prices for fuel, steel, electricity, labor and other consumables. Contributes to increased mining costs and general risks, plant failures, equipment or processes that work as expected, final prices for metal sales, unexpected results future research, seasonality and unexpected weather. Change, cost and timing of new deposit development, successful exploration activities, additional capital requirements, timeline permits, government regulations for mining operations, environmental risks, unexpected rehabilitation costs, title disputes or claims, insurance coverage Timing restrictions, and the possible consequences of pending lawsuits and labor disputes, risks associated with remote control and the availability of appropriate infrastructure, price fluctuations and energy availability, and other mining requirements. Input. Victoria sought to identify important factors whose actual actions, events, or outcomes may differ materially from those described or suggested in forward-looking information, but actions, events, Or there may be other factors that may cause the results to not be expected, estimated, or intended. Actual results and future events may differ materially from those expected in such statements and there is no guarantee that the information regarding the future outlook will be accurate. Readers should be careful not to place excessive trust in information about future prospects. The forward-looking information contained herein is presented to help investors understand Victoria’s expected financial and operating results as well as Victoria’s plans and objectives, and for other purposes. It may not be suitable. All forward-looking information contained in this document may be provided as of the date of this document and is based on the opinions and estimates of our management and information available to management as of the date of this document. I am. We are obligated to update or revise any forward-looking information contained herein and the documents contained herein by reference as new information, future events, or other consequences, except as required by applicable law. Shall not bear.

Contact us for more information:
John McConnell
President and CEO
Victoria Goldcorp
Tel: 604-696-6605
ceo@vgcx.com


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Eagle Gold Mine First Quarter 2022 Operational Highlights, Canadian Business Journal

Source link Eagle Gold Mine First Quarter 2022 Operational Highlights, Canadian Business Journal

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