VGCX:CC - Victoria Gold: Big Exploration Program in 2021
2024-03-27 17:08:02 ET
Heading into full production
Victoria Gold's Eagle Gold Mine produces [gold] doré from a conventional open pit operation with a three-stage crushing plant, in-valley heap leach and carbon-in-leach adsorption-desorption gold recovery plant. The mine has year-round road access. Furthermore, the mine in connected to the Yukon power grid, and a commercial airstrip used to transport personnel, is located 80 km to the south near the village of Mayo.
The mine is ramping up to full production of over 200,000 ounces per year. "We're in the Arctic, so we're leaching gold in a cold weather environment. And there were a lot of skeptics when we first put this plan forward, but everything is working very well," says Director, President and CEO, John McConnell.
The company is also adding personnel and will, in full operation, employ 350-400 people. This makes Victoria Gold a significant economic contributor to the local communities and the Yukon.
The anticipated lifespan of the Eagle mine is 11 years. But John McConnell believes it could be longer. "With the drilling we're currently doing at depth, I certainly am quite confident that the mine will last for 20 to 30 years".
Additionally, Victoria Gold has a big exploration program in 2021. This will be focused on an area out to the East Coast region.
The Eagle Gold Mine has a long-standing Comprehensive Cooperation and Benefits Agreement with the First Nation of Nacho Nyak Dun, within whose traditional territory the mine is located.
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