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Victoria Gold Corp.
Summary
| Project: | Eagle | |
|---|---|---|
| Deposit: | Eagle, Olive | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/26/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-10-2016: Victoria Gold Corp. announces a Feasibility Study report for its Eagle, Olive deposit at the Eagle project. Feasibility study results incl. post-tax NPV (5%) of C$508M, IRR of 29.5%. Victoria Gold Corp. (TSX VENTURE: VIT) ("Victoria" or the "C | |
| Resources: | (Reserve, P+P); 123Mt @ 0.67g/t Au for 2.663Moz Au contained at Eagle and Olive | |
| CP/QP: | [Resources]: Ravindra Shamar, Frank Daviess (Bedrock Mineral Resource Consulting;Independent) | |
| ABSTRACT: | Victoria Gold Corp. (TSX VENTURE: VIT) ("Victoria" or the "Company") is pleased to announce the results of a National Instrument 43-101 feasibility study for its 100% owned Eagle Gold Project located on the Dublin Gulch property, Yukon. An audio/video web conference call will be held this morning at 8:00 am Eastern Time (see details below). "The results from this Feasibility Study highlight the exceptional quality of the Eagle Gold Project," stated John McConnell, President & CEO. "Our team, working with an experienced group of consultants have optimized several key areas of the project, in particular, the heap design and incorporation of run of mine leaching of low grade material. These improvements have resulted in significant capital savings and enhanced overall project economics. Eagle is a fully permitted project in a premier jurisdiction that can produce 200,000 ounces annually with high margins and a very attractive valuation. We also believe the current and future Olive-Shamrock drilling will continue to add to this valuation." The Feasibility Study was prepared under the direction of JDS Energy & Mining, an industry leading, international engineering firm, with extensive experience in both the construction and operation of mining projects in Canada's north. The study was supported by a team of internationally recognized firms, all of whom are independent of the Company. The Feasibility Study confirms the technical and financial viability of constructing and operating a 33,700 tonne/day ("tpd") mine encompassing 2 open pits, a three-stage crushing circuit, 2 in-valley leach pads and an adsorption desorption gold recovery plant ("ADR plant"). | |
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