Eagle Mine produces C$30M gold in June
Monthly output at Yukon gold operation steadily increases North of 60 Mining News – July 10, 2020
Last updated 9/26/2020 at 3pm
Victoria Gold Corp. July 7 announced that its Eagle Mine in the Yukon produced 13,828 ounces of gold during June. This is the best month for the mine that achieved commercial production on July 1.
"Since restarting stacking mid-March, we have steadily seen an increase in monthly gold production," said Victoria Gold President and CEO John McConnell. "With the increasing price of gold, our June production has a value of greater than C$30 million."
Gold output at Eagle has been steadily increasing throughout 2020. The mine produced 10,544 oz during the first three months of the year, 6,768 oz in April, and 7,756 oz in May.
Gold output during May was lower than originally expected due to slowed production due to COVID-19 travel restrictions limiting the availability of workers from outside of Yukon.
With the majority of the Eagle employees being Yukon residents, mining, crushing and stacking ore on the heap leach facility, continue to perform well.
During the month of June, 694,944 metric tons of ore averaging 0.97 grams per ton gold was stacked on the heap leach pad. This brings the total for 2020 to 3.05 million metric tons of ore at 0.86 g/t gold.
Once up to full capacity, the Eagle Mine is expected to average roughly 210,000 oz of gold annually, or about 17,500 per month, over the initial 10-year mine life.
Victoria Gold anticipates further increases in Eagle gold production in the coming months.
The company also announced that Paul Gray has been promoted to vice president of technical services.
Gray, who has been with Victoria since 2013, has served as the vice president of exploration over the last three years. He will continue to lead exploration and geology activities on the Dublin Gulch property, and will now also oversee metallurgy, mine planning, environmental and permitting. Victoria said Gray's broad technical knowledge combined with over 25 years' experience in mine exploration, development and operations will be invaluable as it continues to grow both gold production and resources.