Victoria Gold increases Q4 2020 production by 20%
Kitco News has launched its 2021 Outlook, which offers the most comprehensive coverage of precious metals markets in the new year. Trillions of dollars were pumped into financial markets in 2020 and that won't come without consequences. Economists expect that investors will be Bracing For Inflation in 2021.
The company said its gold output in Q4 2020 was 20% higher than in Q3 2020. Ore stacked on the heap leach pad increased by 21% while ore mined increased by 7% quarter over quarter. Ore stacked improved considerably in Q4 and particularly during the second half of November through the end of the year.
H2 2020 gold production was 77,748 ounces versus guidance of 72,000 – 77,000 ounces. The total gold output in 2020 amounted to 116,644 ounces.
President and CEO John McConnell commented, “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. 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.”
Victoria Gold's 100%-owned Dublin Gulch gold property is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse. The property is accessible by road year round, and is located within Yukon Energy's electrical grid. The property covers an area of approximately 555 square kilometers, and is the site of the company's Eagle and Olive gold deposits. The Eagle gold mine is Yukon's newest operating gold mine.