Victoria Gold Corp. [VGCX-TSX; VITFF-OTC] reported production results from the Eagle mine on the 100%-owned Dublin Gulch gold property for the fourth quarter and full year 2021. The Dublin Gulch gold property is situated in central Yukon Territory, Canada, approximately 375 km north of the capital city of Whitehorse, and approximately 85 km from the town of Mayo. The property is accessible by road year-round, and is located within Yukon Energy’s electrical grid.
Fourth quarter 2021 production was 49,497 ounces gold. Full-year 2021 gold production was 164,222 ounces versus revised guidance of 162,000 ounces.
John McConnell, CEO, said “COVID-19 has had a significant impact on Eagle operations in 2021, but our team has been very innovative adjusting to conditions and we achieved record annual gold production in 2021, increasing by over 40% from 2020. Two thousand twenty-two will undoubtedly present new challenges and I look forward to working with our team to continue the steady growth we have realized since Eagle began operations.”
In the future, the company plans to release quarterly production highlights, such as this news release, within two weeks of the end of each quarter.
The property covers an area of approximately 555 km2 and is the site of the company’s Eagle and Olive gold deposits. The Eagle gold mine is Yukon’s newest operating gold mine. The Eagle and Olive deposits include proven and probable reserves of 3.3 million ounces of gold from 155 million tonnes of ore with a grade of 0.65 g/t gold as outlined in a NI 43-101 technical report for the Eagle gold mine dated December 3, 2019. The mineral resource under NI 43-101 standards for the Eagle and Olive deposits has been estimated to host 227 million tonnes averaging 0.67 g/t gold containing 4.7 million ounces of gold in the measured and indicated category, inclusive of proven and probable reserves, and a further 28 million tonnes averaging 0.65 g/t gold containing 600,000 ounces of gold in the inferred category.