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Victoria Gold Corp T.VGCX


Primary Symbol: VITFF

Victoria Gold Corp. is a gold mining company. The Company’s flagship asset is its 100% owned Dublin Gulch property, which hosts the Eagle, Olive and Raven gold deposits along with numerous targets along the Potato Hills Trend including Nugget, Lynx and Rex Peso. Dublin Gulch is situated in the central Yukon, Canada, approximately 375 kilometers (km) north of the capital city of Whitehorse. The property covers an area of approximately 555 square kilometers and is the site of the Company's Eagle and Olive Gold Deposits. It also holds a suite of other development and exploration properties in the Yukon, including Brewery Creek, Clear Creek, Gold Dome and Grew Creek. The Eagle West target area lies as close as 500 meters northwest of the main Eagle Gold Deposit and hosts the exposures of the granodiorite. The Raven target is located at the contact zone at the extreme southeastern portion of the Nugget Stock. The Brewery Creek Project is a past producing heap leach gold mining operation.


GREY:VITFF - Post by User

Comment by HoneyBadger77on Jul 27, 2024 5:05pm
114 Views
Post# 36151339

RE:For those not able to watch the briefing yesterday

RE:For those not able to watch the briefing yesterday In relation to earlier comments about the storage pond not being lined, listen to CBC Reporter Darryl Greer's question at about the 47:55 minute mark and the response of the Inspector (Sven) about the status of the pond and that lining of the pond sounds to be next step and soon.  If correct this should address GMAB's earlier mentioned concern about the pond not being lined and the solution pumped into the pond just seemping into the ground.  My guess is that VG planned to line the pond all along but probably was awaiting delivery of lining material.

Regarding VG not complying with the directive to build a berm to protect the workers constructing ground water wells, the berm and wells are for the sole benefit and use by EMR to monitor ground water for the next upmteen years, so it doesn't surprise me then that VG ignored that directive.  Why would VG want to build a berm and drill monitoring wells at their expense for the benefit of EMR so that EMR can then use their monitoring findings to support further charges against the company or more evidence to support the closure of the mine?  Does anyone actually think that they won't find traces of cyanide in the ground water wells either shortly after drilling or in futue with the wells being right on site with 300 milion litre of solution having left containment?   Buildng the berm and these wells isn't for the purpose of solution containment or remediation, they're for the purpose of a providing EMR with a means to monitor ground water contamination at the mine site.   The berm and monitoring wells were never part of the mine build requirement and are essentialy an add-on arising as a result of the slide and so if EMR wants them, then build and pay for them.  VG's focus is on containment and remediation and the safety of their on-site workers.

 Notice that VG has nearly completed building the directed overflow pond and apparently about to line that pond, why?  Well because it pertains to their focus on containment and remediation.  They're working on plans to secure the embankment to avoid a furher slide, why?  Because it is in their interests to contain and avoid another slide and more ore breaching containment.  Until the 3rd party investigation is complete, the cause of the slide and who is liable remains unknown and thus responsibility and liability remains unknown.  The final results of that investigation is what will largely determine whether Eagle will ever operate again or not.  The media, YGT, EMR, and FNs are all  implying that this is all VG's fault, but is it or does it just seem that way, based on the company's hostorical water related incidents.  The investigation will get to the bottom of this eventually and the sooner the better for all concerned.

I also thought this latest meeting was much better than in the past and also found it interesting how these two recent news releases in some cases tell a different story than what came out of the mouths of the people on the pannel.

Yukon may assume Victoria Gold accident cleanup - MINING.COM

Yukon ready to step in after Eagle Gold mine disaster | Financial Post

For example, the recent directive for VG to come up with a 15,000 to 20,000 m3/day water treatment solution by midnight of July 24th was side skirted and instead the Inspector commented how VG was working on converting their Treatment Plant to handle treatment.  So which is it, do they need another 15,000 to 20,000 m3/day treatment solution or is the on-site plant capable of being updated to handle it?  So is VG complying with the directive or aren't they?  Is EMR even capable of handling an event such as this and have the expertise?  If so, then why do they keep hiring all these independent experts to guide them and contractors to do their work?

My opinion, YGT and EMR isn't capable of taking the mine site over and they know it so they need VG on-site at least until they are satisfied the environmental damage is less severe than first anticipated, the ore is contained, remediation efforts are well underway, and steps to mitigate a further slide are taken and or addressed.  In the meantime, the media will keep stirring the pot and VG management will remain largely silent smelting whatever gold bars they can for now.

My opinion only.

HB77
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