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SAN FRANCISCO, CA–(Marketwired – September 05, 2017) – This Canadian miner broke ground on development of its flagship gold project, paving the way for commencement of production in 2019, and also has stepped up exploration on a neighboring prospect.
Company included in article: Victoria Gold Corp.
Victoria Gold Corp. (TSX VENTURE: VIT), which holds 100% ownership of the Eagle property, located 375 kilometers north of Whitehorse in Yukon Territory, announced the onset of Phase 1 construction on Aug. 21. The CA$40 million first phase will include “road upgrades, camp expansion, and detailed engineering,” as well as “critical path earthworks, including earthwork at the toe of the in-valley leach facility, and cut and fill of the crusher foundation,” according to the company press release.
John McConnell, Victoria’s president and CEO, called the start of construction “an exciting milestone in the ongoing development of the Eagle Gold Project. The Phase 1 construction program will set us up for an efficient, low-risk construction program in 2018.”
In an Aug. 21 research report, PI Financial’s Adam Melnyk wrote that, in light of the onset of construction, his firm expects production at the Eagle mine “to commence in 2019 and average 183,000ozs Au at C$720/oz cash costs. This will place Victoria in a good position to scale up construction in 2018 as some of the construction work is limited to only the warm and dry months of the year.
Continue reading this article: Yukon Gold Developer ‘In a Good Position to Scale Up Construction’
About Streetwise Reports/The Gold Report
Investors rely on The Gold Report to share investment ideas for the precious, base and critical metals sector. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
The following companies mentioned in this article are sponsors of Streetwise Reports: Victoria Gold Corp. Streetwise Reports does not accept stock in exchange for its services.
The full disclosure is provided at the end of the published article: Yukon Gold Developer ‘In a Good Position to Scale Up Construction’
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Tue, 05 Sep 2017 13:00:00 GMT