Strong finish in gold production for Victoria Gold

By GlobeNewswire   

Production Resource Sector gold mining

Q4 2020 results exceed targets at Eagle Gold Mine

Victoria Gold Corp. of Whitehorse Yukon, announced its Q4 2020 production of 42,174 ounces gold, exceeding the firm’s revised guidance, according to John McConnell, president and CEO. H2 2020 gold production was 77,748 ounces versus guidance of 72,000 – 77,000 ounces.

“Victoria’s Eagle Gold Mine had a strong finish to the year with solid Q4 operational performance. Gold production of 77,748 ounces in H2, our first 6 months of commercial production, exceeded our revised guidance,” says McConnell. “Ore placement on the heap leach pad increased by more than 20% quarter over quarter including over 1 million tonnes of ore stacked on the pad in December. Effective health protection measures are continuing and have safeguarded employees and local residents and enabled mine operations to continue, with no suspected or confirmed cases of COVID-19 at site.”

As per the Company’s seasonal operations plan, ore stacking on the leach pad has now been curtailed for the 90 coldest days of the year, January through March. During this 90 day period, mining operations, primary crushing and stockpiling of ore will continue. As well, leaching and gold production will continue. Subject to favourable weather conditions, ore stacking may be resumed ahead of schedule.

The shutdown of the secondary crushing and stacking systems provides an excellent opportunity to finalize the optimization program began in the fall, discussed in the company’s news release dated November 13, 2020. A number of specialty contractors have been mobilized to site to complete this work.




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