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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

Comment by Routanon Aug 21, 2024 2:26pm
125 Views
Post# 36190357

RE:RE:Root cause

RE:RE:Root cause

Victoria Gold: 2023 Fourth Quarter and Full Year Results


Processing

During the three months ended December 31, 2023, a total of 2.1 million tonnes of ore was stacked on the HLF at a throughput rate of 22.3 k tpd. A total of 1.4 million tonnes of ore was stacked on the HLF at a throughput rate of 14.8 k tpd for the prior comparable period in 2022.

Ore stacked on the HLF increased by 51% for the three months ended December 31, 2023. In Q4 of 2022, the operations experienced a belt splice failure resulting in approximately 18 days of lost production. In addition, there was a period of extreme cold temperatures where operations were curtailed for 6 days (see 2022 Q4 MD&A). During the most recent period, these challenges were not encountered, and coupled with reliability improvements seen over 2023, resulted in stacking rate improvements.

Ore stacked for the quarter had an average grade of 0.65 g/t Au, compared to 0.90 g/t Au in the prior comparable period in 2022. Although grade was expected to be lower due to mine sequencing, the grade was also impacted by the stacking of lower grade bonus ore (material outside of the mine plan above cut off grade) and the processing of lower grade stockpiles.

During the year ended December 31, 2023, a total of 9.0 million tonnes of ore was stacked on the HLF at a throughput rate of 24.6 k tpd. A total of 6.6 million tonnes of ore was stacked on the HLF at a throughput rate of 18.1 k tpd for the prior comparable period in 2022.

Ore stacked on the HLF increased by 36% for year ended December 31, 2023 primarily due to successful implementation of year-round stacking as well as the above noted challenges in 2022 that did not impact 2023. Crusher utilization in 2023 improved by 30% over 2022.

Ore stacked for the year ended December 31, 2023 had an average grade of 0.72 g/t Au, compared to 0.85 g/t Au in the prior comparable period in 2022. The grade difference is primarily due to mine sequencing coupled with the stacking of lower grade bonus ore and stockpile material.

As at December 31, 2023, the Company estimates there are 86,073 recoverable oz within mineral inventory.

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