GREY:VITFF - Post by User
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TELEMARKERon Jul 23, 2024 1:42pm
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stockwatch.com
stockwatch.com Globe says Yukon has little faith in Victoria Gold
2024-07-19 07:35 ET - In the News
The Globe and Mail reports in its Friday edition that the Yukon government is contemplating seizing control of Victoria Gold's Eagle mine site, as doubts grow about the company's ability to deal with a catastrophic heap-leach failure last month. The Globe's Niall McGee writes that four million tonnes of cyanide-laced rocks collapsed June 24 at a heap-leach processing facility at the mine. Two million tonnes of material breached the company's containment zone and elevated levels of cyanide were later found in a water body adjacent to the mine. Eagle is located on the traditional territory of the first nation of NaCho Nyak Dun. Over the past few weeks, Whitehorse-based Victoria Gold has been attempting to store and treat all of the contaminated water at the mine site. However, Yukon government officials said Thursday the company is running out of space in storage ponds and currently is not able to treat all of the effluent. As a temporary measure, Victoria Gold is pumping contaminated water from the ponds to the heap-leach facility as it builds more storage capacity. Officials were unable to guarantee that the company can construct enough storage space. Chief executive officer John McConnell is still not returning calls.