Victoria Gold Corp. (OTC Other: VITFF; TSX-V: VIT) has released a preliminary assessment and updated resource estimate for the Company’s Cove Gold Project in Nevada. According to the report, the Helen Zone has an inferred mineral resource estimae of 231,300 ounces of gold. In terms of its production economics, capital expenditures are estimated at $44.1 million and production is estimated at 49,000 ounces per year at a cost of $620 per ounce. At $1,200 gold and a 10% discount rate, this results in an IRR of 42% and an NPV of $30.8 million.
Victoria Gold Releases Preliminary Assessment and Updated Resource Estimate for Cove