Victoria Gold says Eagle mine recovered 29,580 oz. in first quarter

Victoria Gold (TSX: VGCX) produced 29,580 oz. of gold from its Eagle mine during the first quarter of 2024, compared to 37,619 oz. in the first quarter of 2023.

“While quarterly gold production is down year over year, the summer and fall seasons are our strongest operating periods,” said president and CEO John McConnell, “and we expect to achieve 2024 gold production guidance of 165,000 to 185,000 oz. and cost guidance of US$1,450 to US$1,650 per oz. of gold sold.”

For the second year in a row, ore was placed on the leach pad throughout the winter. The 2 million tonnes of ore delivered for leaching was in line with the 2.1 million tonnes of 2023. However, the average grade was 0.63 g/t gold in 2024, compared to 0.86 g/t in 2023. The lower year-over-year grades were related to mine sequencing in the Eagle orebody, the timing of placing stacked tonnes under leach, and lower than planned stacking rates in the last quarter of 2023.

Both the Eagle and Olive gold deposits are being mined as part of Victoria’s Dublin Gulch project 375 km north of Whitehorse and 85 km from Mayo, Yukon.