TORONTO, May 07, 2019 (GLOBE NEWSWIRE) — Victoria Gold Corp. (TSX.V-VIT) (“Victoria” or the “Company”) is pleased to offer an update on construction on the Eagle Gold Mine.
Construction is over ninety% complete, with more than 1,250,000 hours labored without a Lost Time Incident (“LTI”).
“With production sports on the verge of crowning glory and operations well advanced, the Eagle Gold Mine is nearing truth,” stated John McConnell, President & CEO. “The mine is beforehand of schedule and equipped to supply the first-rate fee for all Victoria stakeholders for decades to come.”
Current activities on a web page are centered on completing mechanical, electric, and instrumentation installation on the secondary/tertiary crushing plant and the overland conveyor, as well as early pre-commissioning. Photographs and videos of all facilities can be viewed on the Company’s internet website (www.Vitgoldcorp.Com).
Construction
Procurement of all foremost devices is one hundred% complete, with all obese hundreds introduced to the website. Overall structural metal is substantively whole; mechanical is about 80% entire whilst electric is seventy-five% entire.
Site Infrastructure, consisting of Grid Power
Site infrastructure is complete. The 45km, 69kV powerline from the Yukon electrical grid and the online 13.8 kV electricity distribution are entire. The two associated sub-stations and all transformers are entire. The online powerline is about to be energized in early May and might be used for commissioning and into operations.
Crushing & Conveying
The primary crusher install is whole and will be absolutely pre-commissioned with the aid of the vendor, Metso, within the coming days. The MSE retaining wall required for the primary crusher is well ahead of schedule and about 65% entire. The MSE wall is predicted to be complete inside the coming 2-three weeks allowing full commissioning of the primary crusher nicely ahead of time table.
The secondary & tertiary crushing facility structural metallic is substantially whole. Mechanical progress is nearing completion, with all important additives anticipated to be absolutely set up inside the coming days. The crew is focused on electrical implementation, and the power is on track for on-time completion.
The overland conveyor, which takes the crushed ore 1. Four kilometers throughout the valley to the heap leach facility is well ahead of the agenda, and belting is being installed and spliced. Commissioning of the overland conveyor is scheduled for mid-May. Several other conveyors are nearing of entirety, with 3 already pre-commissioned.
Heap Leach Pad & Gold Recovery Plant
The four-layer liner machine and answer piping for the sump of the heap leach pad turned into a whole in the past due 2018. The event pond is absolutely coated, and the lining of phase 1 of the heap leach pad above the sump is well superior, which gives enough ore capability via 2020 and into 2021. All most important production sports on the gold healing plant are entire, and pre-fee is about the sixty-five% whole.
Commissioning
Commissioning activities are nicely underway. There are 22 primary structures and seventy-nine subsystems that have been diagnosed in the commissioning plan to facilitate early commissioning and a easy commissioning timetable. Overall commissioning progress exceeds 10%, and large development is expected all through May.
Pre-Production Mining
Development of the primary haul street into the open pit is entire. The first in-pit production bench improvement began in March. To date, pre-manufacturing mining is in advance of schedule and underneath budgeted prices. All work is being self-carried out using the Caterpillar mine fleet, which includes four 785 haul vans, D10 dozers, a 390 excavator, a 16M grader, and a 6040 production shovel.
Operations
Victoria maintains to boost recruitment of the operations crew. The operations control group and key supervisors are in place. The final operations crew are being on-boarded with a modern head be counted of about 164 operations employees. Approximately 45% of the present-day team of workers are Yukon residents consisting of several citizens from the First Nation of Nacho Nyak Dun (“FNNND”). We target at least 50% of Yukon residents to fill the approximate 260 employees scheduled to be on board by the quiet of 2019.
All main agreement and deliver agreements are in the vicinity or are in the very last completion ranges. A enormous range of the providers awarded agreement or supply agreements have partnership preparations with the FNNND Development Corp.
Schedule to First Gold Pour
The first ore is expected to be brought to the heap leach pad early in calendar Q3 2019. The Company is presently concentrated on a primary gold pour early in calendar Q4 2019.
Qualified Person
The technical content material of this information release has been reviewed and authorized through Anthony (Tony) George, P.Eng., as the Qualified Person. For additional statistics regarding the Property, refer to the technical report entitled “NI forty three-one zero one Feasibility Study Technical Report for the Eagle Gold Project, Yukon Territory, Canada,” with a powerful date of September 12, 2016, that is available at the Company’s profile at www.Sedar.Com.
About the Dublin Gulch Property
Victoria Gold’s one hundred%-owned Dublin Gulch gold belongings are located in important Yukon Territory, Canada, about 375 kilometers north of the capital town of Whitehorse and approximately eighty-five kilometers from the town of Mayo. The Property is out there via street 12 months-round and is positioned inside Yukon Energy’s electrical grid.
The Property covers approximately 555 square kilometers and is the site of the Company’s Eagle Gold Deposit. The Eagle Gold Mine is beneath creation and is anticipated to be Yukon’s subsequent working gold mine. The Eagle and Olive deposits include Proven and Probable Reserves of 2.7 million oz. Of gold from 123 million tonnes of ore with a grade of zero. Sixty-seven grams of gold according to the tonne, as outlined in a National Instrument forty-three-one zero one feasibility take a look at entitled Report for the Eagle Gold Project and dated October 26, 2016. The NI forty-three-one hundred and one Mineral Resource for the Eagle and Olive deposits has been envisioned, as of December five, 2018, to host 208 million tonnes averaging zero. Sixty-six grams of gold consistent with tonne, containing 4.Four million oz. Of gold in the “Measured and Indicated” category, consisting of Proven and Probable Reserves, and a in addition 20 million tonnes averaging zero. Sixty-four grams of gold consistent with tonne, containing zero.Four million oz of gold inside the “Inferred” class.
Cautionary Language and Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider accept obligation for the adequacy or accuracy of this launch. This press release consists of positive statements that can be deemed “forward-searching statements.” All statements in this discussion, other than statements of historical records, that deal with destiny exploration drilling, exploration activities, expected metal manufacturing, inner rate of going back, envisioned ore grades, graduation of production estimates, and projected exploration and capital costs (which include fees and different estimates upon which such projections are based) and events or tendencies that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such ahead-searching statements are based on affordable assumptions, such statements are not ensured of destiny performance. Real results or tendencies may range materially from those in forward-searching statements. Factors that would reason actual results to vary materially from the ones in ahead-searching statements encompass metallic charges, exploration successes, endured availability of capital and financing, and trendy monetary, marketplace, or enterprise situations. Accordingly, readers must not place undue reliance on ahead-looking statements.
