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Victoria Gold announces maiden 1.1Moz gold resources at Raven

Vladimir Basov

Kitco News

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(Kitco News) - On Thursday, Victoria Gold (TSX: VGCX) reported the inaugural mineral resource estimate (MRE) for the Raven gold deposit, located approximately 15 kilometers east of the Eagle gold mine. 

According to a press-release, the initial MRE comprises a total inferred mineral resource of 1,070,239 ounces of gold for the near-surface Raven deposit.

The company said that the MRE represents the culmination of diamond drilling and surface exploration programs conducted on the Raven target through 2021, adding that results from the ongoing 2022 drill program at Raven have not been included in this maiden resource and will be incorporated into subsequent resource updates.

Victoria Gold noted that Raven represents a potentially high-grade, on-surface gold deposit that lies at the extreme Southeast contact of the Nugget intrusive stock with the surrounding Hyland Group metasedimentary package.

This large, approximately 3km by 2km, medium to coarse grained granodiorite stock of Cretaceous age represents the second largest intrusive body on the Dublin Gulch property (second only the Dublin Gulch stock that hosts the Eagle Gold Mine), it said.

"Raven is a new discovery made by our team in 2018 through geophysics, geochemistry, prospecting, trenching, and drilling along the contact of the Nugget intrusive, 15 kilometers east of Eagle. Follow-up exploration was hampered by COVID, yet in three exploration seasons we have identified a significant Resource," stated John McConnell, President & CEO. "In 2022, we have carried out Victoria's largest ever exploration program, with 25,000 meters of drilling planned to expand Raven along strike and at depth."

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, and approximately 85 kilometers from the town of Mayo. The property covers an area of approximately 555 square kilometers, and is the site of the company's Eagle gold mine.

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By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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