Victoria Gold reports wide gold intercepts at Raven

Assays from Victoria Gold’s (TSX: VGCX) exploration drill program at the near-surface Raven gold target, 15 km east of its Eagle gold mine in the Yukon, include 83.5 metres grading 3.59 grams gold per tonne starting from 213.5 metres.

The broad intercept from drillhole NG22-155C included 6.26 grams gold over 47 metres, 20.2CE4 grams gold over 14.5 metres and 45.84 grams gold over 5.3 metres. The hole was drilled about 300 metres east along strike from the existing resource at the Raven.

Other highlights released today included 8.28 grams gold over 5 metres from 216.5 metres in drillhole NG22-162C; 1.98 grams gold over 14.2 metres from 216.5 metres in drillhole NG22-082C, and 1.15 grams gold over 25.7 metres from 85.3 metres in drillhole NG22-185C.

“Exploration efforts at the Dublin Gulch gold camp continue to highlight the exceptional gold potential of the property and, in specific, the near-surface Raven gold deposit,” said John McConnell, Victoria Gold’s president and CEO. “Raven exploration this past season was focused on testing the expansion potential from the maiden mineral resource estimate, and notably, 2022 saw more holes collared in and around Raven than all previous campaigns combined.”

The company completed the inferred resource estimate on Raven in September and outlined 19.9 million tonnes grading 1.67 grams gold per tonne for 1.07 million contained oz. gold. The resource estimate used a cut-off grade of 0.5 gram gold. Results from its 2022 exploration drill program were not included in the first resource.

The Dublin Gulch camp lies about 375 km north of the capital of Whitehorse, and about 85 km from the town of Mayo. The 555-sq.-km property includes the Eagle and Olive gold deposits.

The company completed 25,244 metres of diamond drilling last year at the Raven deposit (90 holes) including both the Raven proximal program and the Raven distal program.

Victoria Gold discovered Raven from initial surface trenches in the 2018 field season that exposed scorodite, bismuth, and siderite related sulphide veins under less than 1 metre of overburden.

Shares of Victoria Gold jumped 52¢ on the news or 5.8% to finish the day at $9.45 per share. Over the last year the Vancouver-based gold producer has traded in a range of $6.56 and $18.90 per share.