Victoria Gold Corp VITFF

VGCX PR on Kitco Home Page

[MVargas]

Nice to have the additional exposure of Victoria's NR on reaching Commercial Production on Kitco's Home Page.  However though mostly a repeat of the text contained in the actual PR they add at the bottom:

"The Eagle and Olive deposits have a combined estimated of proven and probable reserves of 123 million tonnes with a grading of 0.67 g/t gold for 2.7 million oz."

Kitco Article

Not true. This is from the actual news release that they quoted from:

The Eagle and Olive deposits include Proven and Probable Reserves of 3.3 million ounces of gold from 155 million tonnes of ore with a grade of 0.65 grams of gold per tonne, as outlined in a National Instrument 43-101 Technical Report for the Eagle Gold Mine dated December 3, 2019. The Mineral Resource under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for the Eagle and Olive deposits has been estimated to host 227 million tonnes averaging 0.67 grams of gold per tonne, containing 4.7 million ounces of gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 28 million tonnes averaging 0.65 grams of gold per tonne, containing 0.6 million ounces of gold in the "Inferred" category.

In a post the other day, commenting on the possibility of Victoria acquiring Banyan and their low-grade inferred resources, I said that Victoria had 4.5 million ounces of resources, including inferred resources, but this NR says the total is 4.7 million ounces of M&I resources + 0.6 million ounces of inferred for a total of 5.3 million ounces.