Victoria Gold drills 3.59 g/t gold over 83 metres at Dublin Gulch, Yukon

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Victoria Gold Corp. [VGCX-TSX] reported assay results received to date from the 2022 Raven distal exploration program at the 100%-owned Dublin Gulch gold camp (Eagle Mine), 85 km north of Mayo, Yukon. Raven is one of several priority on/near-surface gold targets and was the primary focus of 2022 Dublin Gulch exploration activities. The current Raven resource estimate includes 1.1 million ounces at 1.7 g/t gold. During the 2022 season, 27,215 metres of diamond drilling were completed across the claim package, including 90 drill holes for 25,244 metres at the Raven deposit.

The 2022 Raven drilling campaign was designed to advance two key objectives: Raven proximal program, which included drilling within and proximal to the current footprint of the Raven deposit. It is expected these assays will further define and test the mineralization potential and contribute to an updated Raven resource estimate later in 2023; a Raven distal exploration program, which included drilling beyond the existing Raven deposit to test the extension of mineralization by approximately 500 metres strike length and over 100 metres in width. The majority of these assays are not expected to inform the 2023 updated resource estimate but will confirm the existence of mineralization for future resource expansion.

Of the 90 drill holes drilled at Raven in 2022, 30 drill holes (8,810 m) were located within the Raven resource footprint, and 14 drill holes (4,410 m) were collared within 100 metres of the Raven resource. The Raven distal exploration program consisted of 46 drill holes (12,024 m) drill holes, the majority of which are collared greater than 100 metres from the Raven resource bounds. Raven mineralization remains open, in particular to the east, which will be the focus of the next phase of exploration.

Assays for 39 of the 46 drill holes from the Raven distal exploration program have been received. Highlighted results included drill hole NG22-155C that returned 7.18 g/t over 6.9 metres from 128.1 metres and 3.59 g/t Au over 83.5 metres from 213.5 metres, including 6.26 g/t Au over 47 metres from 213.5 metres, including 20.24 g/t Au over 14.5 metres from 246 metres, including 45.84 g/t Au over 5.3 metres from 250.7 metres.

NG22-162C returned 0.65 g/t Au over 105.5 metres from 202 metres, including 8.28 g/t Au over five metres from 216.5 metres. NG22-082C returned 1.98 g/t Au over 14.2 metres from 67 metres. NG22-085C returned 1.15 g/t Au over 25.7 metres from 85.3 metres.

“Exploration efforts at the Dublin Gulch gold camp continue to highlight the exceptional gold potential of the property and, in specific, the near-surface Raven gold deposit,” commented John McConnell, president and CEO. “Raven exploration this past season was focused on testing the expansion potential from the maiden mineral resource estimate, and, notably, 2022 saw more holes collared in and around Raven than all previous campaigns combined. Of particular interest was the high-grade intersection in hole NG22-155C, which assayed 3.59 g/t over 83.5 metres, approximately 300 metres east along strike from the existing Raven resource.”

The Dublin Gulch exploration program was completed on October 30, 2022, and included 25,244 metres of diamond drilling at the Raven deposit (90 holes), including both the Raven proximal program and the Raven distal exploration program; 718 metres of metallurgical drilling at the Raven deposit; 1,865 soil geochemical samples; 1,971 metres of diamond drilling at the Lynx target (six holes); 936 metress of surface trenches at the Lynx target; exploration camp upgrades to support an extended exploration season; detailed structural/geological mapping and prospecting.

The Raven proximal program results and any remaining Raven distal exploration program results are expected to be released in the near future.


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