Last C$0.13 CAD
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Volume 433.9K
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victoria gold corp (VIT) Snapshot

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02/14/14 - C$0.17
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Market Cap
44.2M
Average Volume 10 Days
238.1K
EPS TTM
C$-0.0060
Shares Outstanding
340.1M
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victoria gold corp (VIT) Details

Victoria Gold Corp. operates as a gold exploration and development company in Canada. The company primarily holds a 100% interest in the Dublin Gulch property, which hosts the Eagle Gold Deposit covering an area of approximately 555 square kilometers located in central Yukon Territory, Canada. The company was formerly known as Victoria Resource Corporation and changed its name to Victoria Gold Corp. in July 2008. Victoria Gold Corp. was incorporated in 1981 and is headquartered in Toronto, Canada.

Founded in 1981

victoria gold corp (VIT) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$325.4K
Chief Financial Officer
Total Annual Compensation: C$216.2K
Executive Vice President
Total Annual Compensation: C$183.6K
Vice President of Mine Support Services
Total Annual Compensation: C$176.7K
Compensation as of Fiscal Year 2014.

victoria gold corp (VIT) Key Developments

Victoria Gold Corp. Announces Commencement of the 2014 Phase 1 Olive Exploration Program

Victoria Gold Corp. announced the results of the final 6 drill holes of the 2014 Phase 1 Olive exploration program, adjacent to Victoria's Eagle Gold deposit, Yukon Canada. Phase 1 Program: It's 2014 Phase 1 Olive Exploration program included 20 diamond drill holes, 3 of which were used solely for metallurgical testing. The first 14 diamond drill holes from the Phase 1 program yielded highly encouraging results including 69.7 metres of 2.29 g/t gold, 96.1 metres of 1.22 g/t gold and 99 metres of 1.02 g/t Au. Phase 2 Program: The Phase 2 program is well underway with almost 2,900 metres of a planned 5,000 metres drilled to date. This work includes continued delineation of the high grade Olive Zone as well as exploration drilling along strike to the North-East and South-West of the Phase 1 drilling.

Victoria Gold Corp. Announces Commencement of the 2014 Phase 2 Olive Exploration Program At the Olive Zone

Victoria Gold Corp. announced commencement of the 2014 Phase 2 Olive exploration program following receipt of additional high grade gold intercepts from the 2014 Phase 1 program at the Olive Zone, adjacent to Victoria's Eagle Gold deposit, Yukon Canada. Phase 1 Program Drilling: Victoria's 2014 Phase 1 Olive Exploration program included 20 diamond drill holes, 3 of which were used solely for metallurgical testing. The first 5 diamond drill holes from the Phase 1 program yielded highly encouraging results including 69.7m of 2.29 g/t gold and 96.1m of 1.22 g/t gold. Victoria has received assay results for an additional 6, Phase 1 holes including 31.5 m of 2.19 g/t gold and 35.3 m of 1.67 g/t gold. Assays are pending for 6 additional Phase 1 exploration diamond drill holes targeting the North-East extent of the mineralized Olive Shear Zone. Metallurgy: As part of the Phase 1 program, Victoria engaged Kappes Cassidy & Associates of Reno, NV (KCA) to conduct additional metallurgical testing on Olive samples. Initial tests to support moving forward on a Phase 2 program included 96-hour bottle roll tests on 3 composite oxide and 3 composite sulphide samples. Importantly, all samples were tested using a crush size to match the proposed crushing facility at Eagle (P80 6.3 mm). Gold recovery exceeded management expectations and averaged 61% on the oxide samples at a P 80 6.3mm crush size or 93% at a grind size of 75 microns. While the average oxide recovery is less than Eagle, the higher grade targeted at Olive is anticipated to result in materially higher recovered grade than the average recovered grade at Eagle. With results from 11 of 17 diamond drill holes and metallurgy now in hand, Victoria has confidence the Phase 1 exploration objectives were achieved, namely: The identification of near surface mineralization with gold grades in excess of 1 g/t over significant intervals; definition of significant tonnage (in excess of 10 million tonnes) to materially influence the mine plan at Eagle; and confirmed near surface oxide material is amenable to heap leaching and would add to the total recovered gold at Eagle. Phase 2 Program Victoria's Board of Directors have approved the 2014 Phase 2 Olive Exploration program. The Phase 2 program is underway and entails continued delineation of the high grade Olive Zone as well as exploration drilling along strike to the North-East and South-West of the Phase 1 drilling. Objectives: The objectives of the Phase 2 exploration program include: completion of sufficient step out and in-fill drilling to prepare a NI 43-101 Resource Estimate including an Indicated Resource; completion of sufficient metallurgical testing, including bulk column testing, to enable a Qualified Person (QP) to sign off on feasibility study level engineering for gold recovery; completion of sufficient geotechnical drilling to enable a QP to develop a feasibility study level mine plan; update of the 2012 Eagle Feasibility Study to include: a mine plan with additional ore from Olive; an update to the capital estimate and operating expense estimate; and incorporation of potential capital cost savings while preserving the currently permitted project scope pursuant to the positive YESAA decision document issued for Eagle. Analytical Method: All drill core from the Olive 2014 drilling program was analyzed at ALS Laboratories of Vancouver, B.C. utilizing the ME-ICP61 33-element analytical package with AuAA-24 Fire Assay finish for gold on all samples. All core samples were split on-site at Victoria's Eagle camp and shipped to ALS Laboratories preparation facility in Whitehorse where samples were sorted and crushed to appropriate particle size (pulp) and representatively split to a smaller size for shipment to ALS' Vancouver analysis facility. A comprehensive system of standards, blanks and field duplicates was implemented in the 2014 exploration program and is monitored as chemical assay data become available.

Victoria Gold Corp. Announces Results of First Five Diamond Drill Holes from Victoria's Phase I 2014 Olive Exploration Program

Victoria Gold Corp. reported that the first five diamond drill holes from Victoria's Phase I 2014 Olive exploration program have returned the higher grade, continuous gold intercepts ever encountered on the Dublin Gulch Property. These intercepts bolster the company's assessment that the Olive Zone represents a near surface, mineralized shear zone target that has the potential to meaningfully contribute to Victoria's Eagle Gold Mine. The Olive Zone is only 2km from the proposed Eagle Gold Mine crushing plant and heap leach pad. The most noteworthy results received to date include 69.7m of 2.29 g/t Au within Hole DG14- 584C including 29.6m of 3.90 g/t Au. Additionally, 96.1m of 1.22 g/t Au, including 25.0m of 2.19 g/t Au was intersected in Hole DG14-586C. Phase I Program: Diamond drilling continues on the Olive Zone with the 19 hole, Phase I 3,000m program nearing completion. Final results from this program are expected in August, 2014. A comprehensive metallurgical sampling program of the Olive target has been initiated, with a preliminary 460kg sample currently undergoing testing at Kappes, Cassiday & Associates in Reno, NV.

 

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