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(Kitco News) - Victoria Gold Corp. (TSX: VGCX) announced today that the company produced 37,619 ounces of gold in Q1 2023, up 54.4% compared to 24,358 ounces produced in Q1 2022.
The company said that its Q1 operations plan for 2023 included a ramp up to full stacking of ore on the heap leach pad during the quarter, adding that prior to 2023 there was a cessation of stacking during Q1 due to seasonally cold temperatures.
President and CEO John McConnell commented, "During the first quarter, we successfully demonstrated the feasibility of year-round stacking on the heap leach pad. This was the best Q1 performance for the Eagle Gold Mine since operations commenced with strong gold production and ore tonnage stacked on the heap leach pad."
Victoria Gold also noted that gold production in Q1 2023 was, as expected, seasonally low with no active side slope leaching activities and was also impacted by lower than planned stacking rates in Q4 2022.
Importantly, according to a company press release, both gold grade and metallurgical recovery "continue to reconcile well" against the Eagle reserve model.
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 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.
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