August 16, 2011
Victoria Gold Corp. (OTC Other: VITFF; TSX-V: VIT) has identified a new silver and gold discovery at Rex Peso on its 100% owned Dublin Gulch property. Grab sampling (rock-chip) has returned significant gold, silver and trace element assays including 1.8 g/t gold and 6,410 g/t silver.
“The strong gold and silver mineralization at Rex-Peso highlights an exciting new exploration target capable of hosting additional gold and silver deposits on the Dublin Gulch property”, commented John McConnell, President & CEO, “follow-up mapping and sampling programs are underway at Rex Peso, and we expect to start drilling by the end of the month”.
August 12, 2011
Victoria Gold Corp. (TSX-V: VIT and OTC Other: VITFF) announced today that the ongoing 2011 exploration drilling program at its 100% owned Dublin Gulch, Yukon project continues to intersect significant gold mineralization near the Eagle gold deposit and at targets elsewhere in the project area. The Dublin Gulch project is the site of one of the most intensive exploration programs in the Yukon region, and the 2011 work program includes diamond drilling and other geological and geochemical evaluation efforts. In addition, the Eagle Gold Deposit is in the permitting process and a Feasibility Study is expected to be completed in Q4, 2011.
In the release, John McConnell, President and CEO of Victoria stated: “Extensional drilling along and adjacent to the Eagle Gold Deposit further demonstrate the future growth potential as we move this deposit toward full production in 2014. Our strategy to find additional economic opportunities along the Potato Hills Trend have also been bolstered by recent drilling. We currently have three core drills operating on the property, one drilling on Eagle and two drilling along the Potato Hills Trend. With our 100 person permanent camp we have the unique ability to continue drilling through to early December”.
July 27, 2011
Victoria Gold (OTC Other: VITFF: TSX-V: VIT) has nominated Mr. Edward Dowling and Mr. Christopher Hill to serve on the Company’s Board of Directors. In addition, Mrs. Kelly Arychuk has been appointed the Company’s Vice President, Mine Support Services. As a result of these nominations and appointment, the Company’s board and management team have been strengthened.
Mr. Edward Dowling is the Chief Executive Officer, President and Director of Alacer Gold Corp, a role he has served in since the formation of Alacer through the merger of Anatolia Mineral Development and Avoca Resources Limited in February 2011.
Mr. Christopher Hill has been Treasurer at Aecon, Canada’s largest public construction and infrastructure development company, since March 2011. Previously, Chris held several senior management positions at Kinross Gold Corporation (“Kinross”) from 1998 through 2010.
Kelly brings over 20 years experience in the field of human resources coupled with substantial experience within the mining industry, dealing with larger scale operating mining companies in Northern Canada.
July 21, 2011
Victoria Gold Corp. (OTC Other: VITFF; TSX-V: VIT) reports that the Yukon Environmental and Socio-economic Board (“YESAB”) has deemed the Project Proposal for the Eagle Gold Mine adequate, a major advancement in the environmental assessment process. With the adequacy review complete, screening of the Project Proposal (the second of two major phases of the environmental assessment process) has now begun. A favorable recommendation from YESAB will enable review of the major license applications required prior to construction of the Eagle Gold Project including the Type A Water Use License, Quartz Mining License and Authorization under the Federal Fisheries Act.
May 16, 2011
Victoria Gold Corp. (OTC Other: VITFF; TSX-V: VIT) has results from 15 diamond drill core holes recently completed on the Company’s 100% owned Dublin Gulch project in the Yukon. The purpose of the 2,692 metre drill program was to:
— Obtain additional Feasibility Study level samples from the main part of the deposit for bulk density determinations;
— Better define the location and nature of the interface between the non-oxidized portion of the deposit and the variably oxidized zones of the Eagle deposit; and
— Provide “in-fill” drill coverage for a portion of the deposit to support Reserve definition for the Feasibility Study.
According to John McConnell, “This first batch of drill results from our 2011 exploration campaign at Dublin Gulch demonstrates the potential for Eagle to host near-surface higher-grade zones of gold over significant widths. In the lead up to completing the Feasibility Study, these results confirm Eagle is evolving into a significant gold deposit and we are on track to start construction in 2012.”
May 12, 2011
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.