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Victoria Gold announces commercial production at Eagle Gold Mine

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(Kitco News) - One of Canada’s newest gold mine is now in full operation with Victoria Gold announcing commercial production at its Eagle Gold Mine in the Yukon Territory.

Full production at the mines comes as Canada celebrates the 153rd anniversary of Confederation.

“Achievement of commercial production is a meaningful and memorable accomplishment that the entire team is proud to be part of. Special thanks goes to so many contributors, including the local communities and the First Nation of Na-Cho Nyak Dun who have helped us make Eagle a reality,” said John McConnell, president and CEO of Victoria Gold.

According to company forecasts, The Eagle Gold Mine is expected to produce 210,000 oz gold annually at an all-in sustaining cost of $750/oz, making it the largest gold mine in Yukon history.

Commercial production also comes as the mining sector continues to adjust its operations in the face of the ongoing COVID-19 pandemic. The company said that it continues to follow strict COVID-19 protocols at the Eagle Mine site as well as across the Company’s work locations. Those protocols include a 14-day quarantine for all employees coming from outside of B.C. or Yukon. The mine is The Eagle Mine site continues to operate on a 4 week in / 4 week out schedule.

The company’s first reporting period under commercial production will be the third quarter ended September 30, 2020.

The Eagle Gold Mine is part of Victoria Gold’s Dublin Gulch property, north of Whitehorse. The Eagle and Olive deposits have a combined estimated of proven and probable reserves of 123 million tonnes with a grading of 0.67 g/t gold for 2.7 million oz.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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