Victoria Gold reports Raven and Lynx assays

Victoria Gold Corp. Feb. 28 announced assay results from its 2021 Dublin Gulch exploration program at the Raven gold target about 13 kilometers (eight miles) east of the Eagle Mine, with news quickly following on results from the Lynx target returning results as well.

Discovered with soil sampling and trenching in 2018, Raven is a large, near-surface gold target associated with Nugget, the second-largest known intrusive body on the Dublin Gulch property.

Trenching in 2018 and 2019 began to reveal Raven's potential to host a large gold deposit that is higher grade than what is currently being mined at Eagle. Highlights from this trenching include 124 meters of 3.51 grams per metric ton gold; 50 meters of 4.15 g/t gold; and 12 meters of 7.91 g/t gold.

During the 2021 season, 20,000 meters of diamond drilling were completed across the claim package, including 33 drill holes for 8,063 meters at Raven.

The latest assay results from 19 holes at this highly prospective target include: 1.25 g/t gold over 70 meters from a depth of 245 meters in hole NG21-067C; 1.67 g/t over 13.5 meters from a depth of 97.7 meters in NG21-050C; 1.01 g/t gold over 21.1 meters from a depth of 155.8 meters in NG21-055C; 1.74 g/t gold over 15.1 meters from a depth of 92.4 meters in NG1-061C; and 1.49 g/t gold over 21 meters from a depth of 286.7 meters in NG21-062C.

The 2021 exploration program at Raven was designed to build upon a previously defined 750-meter strike length from fence-based diamond drilling, surface trenches, and additional detailed structural analysis and mapping.

Ultimately, the work carried out last year effectively doubled the strike length of Raven to 1,300 meters, particularly to the west in an area covered by overlying metasedimentary lithologies.

Victoria Gold hopes to target an inaugural mineral resource estimate for Raven before the year is out.

"Raven continues to produce high grade gold intervals with continuity across a greatly expanded 1.3 kilometer strike length," said Victoria Gold President and CEO John McConnell. "Importantly, it is our intention to fast track Raven development with a focused two kilometer drilling program in 2022."

The planned program for this year will begin in the second quarter and includes 20,000 meters of diamond drilling; 10 kilometers (6.2 miles) of trenching; construction of an on-site assay prep lab; expansion of the accommodations camp; expanded soil-geochemistry; and detailed structural and geological mapping and prospecting.

Immediately following the announcement regarding Raven, Victoria reported an update for Lynx, another prospective gold target within the Dublin Gulch claim block.

"Lynx is another example of how under explored the Dublin Gulch claim block is," said McConnell. "Now that Eagle is operating, our team has turned its attention to the systematic exploration of the numerous targets on the block. We fully expect more discoveries in the future."

Exploration last year at Lynx expanded upon the initial work done in 2020, which consisted of four diamond drill holes that totaled 594 meters. The 2021 program was designed to extend the known near-surface gold mineralization and target the vertical extents of the mineralization.

This work culminated in 11 diamond drill holes totaling 2,706 meters at Lynx and 22 surface trenches totaling 2,362 meters. Assays for six of these 11 holes have been received, with the remaining five still pending.

Highlights from the first 6 Lynx holes include: 2 g/t gold over 32.3 meters in hole LX21-025C; 1.14 g/t gold over 31.4 meters in LX21-026C; 2.52 g/t gold over 10.2 meters in LX21-027C; and 3.42 g/t gold over 18.3 meters in LX21-026C.

While not specifically mentioned as Raven was, the 2022 Dublin Gulch exploration program will likely include more exploration work at Lynx, and hopefully, before the year is through, a resource estimate for Raven will be announced, adding a significant new deposit of gold on the Dublin Gulch land package.