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Victoria Gold Corp 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

Bullboard Posts
Post by bajanjohnon Jan 29, 2013 12:40pm
307 Views
Post# 20906296

BMO Upate

BMO Upate

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VICTORIA GOLD (VIT-TSXV)
JOHN HAYES, P.GEO.
Title: Additional Olive Target Drilling Results
Impact: Potentially Positive
Details & Analysis: Victoria Gold released drill results from its exploration drilling program at the Olive target. The Olive target is located 2.5km northeast of the company’s flagship Eagle gold project in Yukon and is part of the Potato Hills trend. Results from nine intercepts in five holes returned a weighted average grade of 3.76g/t gold over an average intercept of 2.8m.  The grades represent an improvement from the five drill results released in October 2012 (3.76g/t vs. 2.15g/t) over a shorter average intercept (2.8m vs. 6.6m).  The holes were drilled in September 2012. The company highlighted hole DG-531C with an intercept of 26.5m grading 2.69g/t.  While the exploration program remains very early stage, the results underscore the potential for the Olive target to contribute resources to complement the Eagle project. Given that Eagle is a low-grade deposit, any incremental improvement in grade would help project economics. Metallurgical work is ongoing, as mineralization in the district is often associated with arsenopyrite. No value is assigned to exploration upside at Dublin Gulch in BMO Research’s estimates. Using spot metal prices, Victoria’s shares are trading at a 49% discount to our 10% NAV estimate of US$0.45/share, below the junior and emerging producers in BMO Research’s coverage universe, which trade, on average, at a 27% discount.


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