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Victoria Gold boosts gold output 154% in Q1 2021

Tuesday April 06, 2021


Victoria Gold (TSX-VGCX) announced today that the company produced 26,759 ounces of gold during the first quarter of 2021 at its Eagle gold mine in Yukon. Gold production in Q1 2021 was slightly ahead of plan and 154% improvement over Q1 2020 (10,544 ounces).


The company said that ore mined increased by 175% compared to Q1 2020 and total tonnes mined increased by 250% versus Q1 2020. Both gold grade and metallurgical recovery continue to reconcile well against the Eagle reserve model and a significant gold inventory is building on the heap leach pad.


The company’s seasonal operations plan for 2021 included curtailment of ore stacking on the heap leach pad during the 90 coldest days of the year, January through March. During this time, maintenance and optimization programs on the crushing and stacking facilities were finalized with ore stacking resuming ahead of schedule.


The company’s gold production is estimated between 180,000 and 200,000 ounces and AISC are estimated to be between US$1,050 and US$1,175 per oz in 2021.


Victoria Gold's 100%-owned Dublin Gulch gold property is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The property covers an area of approximately 555 square kilometers and is the site of the company's Eagle and Olive gold deposits. The Eagle gold mine is Yukon's newest operating gold mine.