VIT, five years ahead of KAM, 1/3 Market CapSun Valley just bumped Kinross as largest shareholder................................. Gold mineralization at Eagle occurs in extensional quartz veins that are most abundant on the hanging and footwall contacts of the narrowest part of the Dublin Gulch granodiorite near its western limits. Subordinate quantities of mineralization occur in quartz veins within nearby metasediments. Several other showings occur on the property, with most showing similar characteristics to Eagle. There isnt much opportunity to re-engineer the Eagle mine plan in light of lower gold prices, but Victoria can leverage exploration potential across Dublin Gulchs larger 345-sq.-km property package. A year ago I asked our geological team to go through all of our targets and run a ranking process. Very quickly we saw the Olive area rise to the top of our list because there were historic results there, and its right on surface, 3 km from the main Eagle deposit, McConnell points out while driving back to Victorias site office. We invested in a significant amount of drilling there [in mid-2015], but more importantly it allowed us to do a lot of metallurgical work. We knew that the mineralization at Olive was different with a lot more sulphides in the system, but it turns out it is still amenable to heap leaching, he continues. Victoria says Olive and the neighbouring Shamrock deposit could form a single, near-surface zone that boosts Eagles overall economics due to higher grades. The company drilled the area in 2014, with assay highlights including: 96 metres grading 1.22 grams gold from 27 metres deep in hole 14-586C, 99.8 metres of 1.02 grams gold from 46 metres in hole 14-588C and 90 metres of 1.18 grams gold from surface in hole 14-600C. Assuming a higher-grade starter pit could be delineated at the Olive-Shamrock zone, payback could accelerate on initial development costs and give a better overall return on investment. Olive could make a material difference at Eagle due to its grades, McConnell says, and points out an area populated by sparse trees that could become an Olive-Shamrock open pit. Since it is near-surface were likely also looking at a really low stripping ratio, and it wont require much additional capital investment, since we can roll it into our main mine plan, he adds. In late December Victoria completed a $3.6-million non-brokered private placement that will fuel exploration efforts at Olive-Shamrock later this year. The company issued 17.6-million flow-through shares priced at 17, and 3.4 million flow-through shares priced at 18. McConnell says a high demand for the financing helped Victoria increase the placement from its original $1.8-million gross value. With the financing, Victoria can incorporate Olive-Shamrock into an updated feasibility study by year-end, while keeping a $12-million cash position. The company's shares have traded within a 52-week window of 11 to 23 per share, and closed at 15.5 at press time. Victoria has 361 million shares outstanding for a $56-million market capitalization. We definitely have a nice position in terms of our leverage to gold price, but we arent simply waiting around for markets to bounce back. Everything we do, and the money we spend, is geared towards de-risking the project and creating a shovel-ready scenario, McConnell says. After receiving our water rights we are essentially completely de-risked in terms of permitting, and the camp and site infrastructure weve developed will allow us to start construction tomorrow, if we obtain financing. - See more at: https://www.northernminer.com/news/site-visit-victorias-eagle-truly-shovel-ready/1003750790/#sthash.vAH3AS7X.dpuf Read more at https://www.stockhouse.com/companies/bullboard/bullboard/v.vit/victoria-gold-corp#I17ciet4JpcAoMBw.99