Victoria Gold (TSX: V.VIT, Stock Forum) announced results from the final six holes of the 2014 Phase 1 Olive exploration program next to its Eagle Gold deposit at the Dublin Gulch Project located in the central Yukon Territory, Canada.
According to the news release, these final holes were mainly exploration holes targeting the interpreted North-East extent of the mineralized Olive Shear Zone, approximately 350 metres from the first reported holes in the Olive 2014 program.
The aforementioned step-out holes confirmed the continuity of mineralization within this corridor and added considerably to the size of the Olive Zone.
Highlights from the assay results included 1.43 g/t gold over 23 metres at DG14-597C and 1.18 g/t gold over 89.6 metres including 2.36 g/t gold over 42.5 metres at DG14-600C.
Company President and CEO, John McConnell, commented, “These final holes from the Phase 1 2014 Olive drilling program underscore the success of the near surface Olive Zone mineralization model we developed and tested.”
He went on to explain, “Moreover, these final exploration holes were designed as large step-outs along the projected strike of the Olive shear zone and lead us to believe the Olive target may be larger than we originally anticipated.”
Then concluded, “We look forward to the results from the Phase 2 program which is progressing well.”
Victoria Gold was in the news recently when the Toronto-based company announced the approval of its $3.0 million Phase 2 development program of the Olive Zone at the end of July.
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