RE:RE:NUGGET ZONE DISCOVERY HOLE RETURNS 101.5M OF 0.57 G/T AU About Nugget Zone
The Nugget Zone, the second largest Cretaceous granodiorite intrusive body on the Dublin Gulch property (second only the Dublin Gulch stock that hosts the Eagle Gold Mine), consists of a 2.2 kilometer by 1.2 kilometer, medium to coarse grained granodiorite stock of the Cretaceous age Tombstone Plutonic Suite. The Nugget stock is hosted in the Earn group and the Keno Hill Quartzite. Coincident arsenic + gold soil anomalies occur along the contact margins of the Nugget stock. This intrusive plus is akin to the Eagle Deposit, and has been the subject of limited historic exploration work due to the inaccessibility of the area.
Historically, a defined gold-in-soils geochemical anomaly that graded from trace up to 1.12 g/t in soils has been defined along with trench samples that graded from trace up to 5m of to 2.38 g/t Au and grab samples from trace up to 1.35 g/t Au.
During the 2017 and 2018 programs an approximately 8.5 kilometer long access trail network was established and has, for the first time ever, allowed vehicular access to this high priority target that up until this season had never been tested by advanced mineral exploration techniques.
A grab sample collected in 2017 from a vein uncovered during Nugget access construction consisted of primarily galena and returned values of 1,440 g/t Ag, 63.44 % Pb, 1.435 % Zn. Another 2017 grab sample from a vein consisting of primarily sulphosalts (jamesonite) returned values of 0.515 g/t Au, 82 g/t Ag 20.3% Pb, 8.34 % Sb, and 4.2 % As. Lastly, a 2017 grab sample from an historic trench on the Nugget stock returned 0.202 g/t Au, 3.7 g/t Ag and 1.3 % As. In 2018, several more notable veins and mineralized exposures were sampled, assays are pending.
Mineralization encountered thus far consists of polymetallic veins occurring within the host rocks peripheral to the Nugget stock as well as disseminated arsenopyrite within in the granodiorite.
The bulk of the Nugget Target, including those areas of highly anomalous gold+arsenic in soils and within historic trenches has never been drilled and largely assessed only for tungsten mineralization potential. With access and camp facilities established at Nugget, the Raven Target is likely to be a high priority for 2019 exploration efforts.
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property is situated in the central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year-round, and is located within Yukon Energy's electrical grid. The Company has constructed and maintains a 400 person all-season camp at the project site.
The Property covers an area of approximately 555 square kilometers, and is the site of the Company's Eagle Gold Deposit. The Eagle Gold Mine is expected to be Yukon's next operating gold mine and, between the Eagle and Olive deposits, include Proven and Probable Reserves of 2.7 million ounces of gold from 123 million tonnes of ore with a grade of 0.67 grams of gold per tonne, as outlined in a National Instrument 43-101 feasibility study. The NI 43-101 Mineral Resource for the Eagle and Olive deposits has been estimated to host 191 million tonnes averaging 0.65 grams of gold per tonne, containing 4.0 million ounces of gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 24 million tonnes averaging 0.61 grams of gold per tonne, containing 0.5 million ounces of gold in the "Inferred" category.
Analytical Method
All exploration drill core from the 2018 program was logged, photographed, split for shipment at Victoria Gold's Bluto Exploration Camp. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Victoria's Bluto Exploration Camp where they were subsequently delivered to the Whitehorse, Yukon, sample preparation facility of Bureau Veritas Minerals. There, samples were crushed with prepared samples sent to Bureau Veritas Minerals', Vancouver, B.C. laboratory facilities.
Bureau Veritas Minerals of Vancouver, B.C. subsequently pulverized all samples and utilized the aqua regia digestion ICP-MS 36-element AQ200 analytical package with FA450 50-gram Fire Assay with AAS finish for gold on all samples. A comprehensive system of standards, blanks and field duplicates was implemented for the 2018 Dublin Gulch drilling programs and were monitored as chemical assay data became available.