Victoria Gold (CVE: VIT) poured the first gold bar at its new Eagle mine 85 km north of Mayo on Sept. 18. Canada’s Yukon Territory’s Premier Sandy Silver poured the 1,001-oz. bar.
The company says it has reached a hiring goal – 54% of the 251 operational employees to date, including several from the Nacho Hyak Dunn First Nation. The safety record is also impressive – 1.7 million lost time free hours.
The Eagle gold mine is part of Victoria’s Dublin Gulch property. The Eagle and Olive deposits have proven and probable reserves of 123 million tonnes grading 0.67 g/t gold for 2.7 million oz.
The measured and indicated resource (including reserves) are 208 million tonnes at 0.66 g/t gold, containing 4.4 million oz. The inferred resource is 20 million tonnes at 0.64 g/t, containing 400,00 oz. of gold.
The Eagle mine is expected to produce 200,000 oz. of gold annually at an all-in sustaining cost of $750 per ounce. Victoria continues to ramp up the operation, saying the work is ahead of schedule.
(This article first appeared in the Canadian Mining Journal)
