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Tuesday, November 07, 2017 Derek Macpherson

VIT Provides Updates on Eagle Phase 1 Construction

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Victoria Gold Corp. (TSXV:VIT) has reported an update on its Eagle Project Phase 1 De-Risking Program, on its Dublin Gulch project in the Yukon. The objective of the $40M 2017 program was to de-risk the earthwork areas of the capital budget and prepare the construction site for Phase 2. Phase 1 activities included heap leach embankment preparation, control pond construction, project access road and bridge upgrades, pioneering of site roads to crusher and recovery plant, expansion of camp to 250-person capacity, advancing detailed engineering and securing pricing on long-lead items. Management stated that Phase 1 was successful in de-risking the project. We note that the company started construction without the full funding in-place; however, with a cash balance of C$43 million (at August 31, 2017) and a commitment letter in place for a US$220 million debt facility, we estimate the company requires additional funding of ~C$70-100 million. Victoria Gold currently trades at a discount on a per ounce basis, or C$31/oz versus peers at C$46/oz, which we believe does not take into account the exploration potential of the Dublin Gulch property or that the project has just transitioned from shovel ready to under-construction.  read more


Monday, October 30, 2017 Derek Macpherson

VIT Continues to Demonstrate Continuity at Eagle Deep

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Victoria Gold Corp. (TSXV:VIT) has announced the assay results from the last two 2017 Eagle Deep drillholes, DG17-930C and DG17-937C, with 607.8m at 0.56 g/t Au and 122.3m at 0.71 g/t Au, respectively. Both holes revealed similar results to the first two holes of the Eagle Deep campaign, DG17-922C and DG17-910C. The most recent results targeted untested areas adjacent to, and below the 2016 FS pit boundary, which is the Eagle Deep target. The continuity of the gold mineralization and the higher grades at depth indicates the potential for future pit expansion and an extended mine life at Eagle. Victoria Gold currently trades at a discount on a per ounce basis, or C$33/oz versus peers at C$47/oz, which we believe does not take into account the exploration potential of the Dublin Gulch property or that the project has just transitioned from shovel ready to under-construction. Ongoing exploration should be an important catalyst for the company, as they highlight the potential to expand the resource base on the Dublin Gulch property.  read more


Monday, October 23, 2017 Derek Macpherson

VIT Drills 624.1m at 0.50 g/t Au from Surface

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Victoria Gold Corp. (TSXV:VIT) has announced the assay results from the second 2017 Eagle Deep drillhole, DG17-922C, with the entire hole of 624.1m returning a grade of 0.5 g/t Au from surface in an untested area, adjacent to, and below the 2016 Eagle Gold Mine Feasibility Study pit boundary. The results from this deep drilling program continues to demonstrate the potential for additional resources, around and below the planned Eagle Pit (Figure 1). Victoria Gold currently trades at a discount on a per ounce basis, or C$33/oz versus peers at C$50/oz, which we believe does not take into account the exploration potential of the Dublin Gulch property or that the project has just transitioned from shovel ready to under-construction. Ongoing exploration should be an important catalyst for the company, as they highlight the potential to expand the resource base on the Dublin Gulch property.  read more


Monday, October 23, 2017 Derek Macpherson

RCKS 5th Annual Fall Mining Showcase Presenter Preview

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On Thursday October 26, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Fall Mining Showcase. The event features presentations from 18 companies, including a themed breakfast and lunch presentation from industry leaders. For more details, please visit our event page. In this post, we provide a brief preview on the 18 presenting companies and 19 banner participants that will be in attendance.  read more


Tuesday, October 17, 2017 Derek Macpherson

VIT Drills Catto Target

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Victoria Gold Corp. (TSXV:VIT) reported analytical results from their ongoing 2017 exploration program. The targeted Catto Zone is located on the Dublin Gulch property between the flagship Eagle Gold Deposit and the Olive-Shamrock Deposit. Victoria Gold reported 11 exploration drill holes with exceptional results including 24.4 m of 1.64 g/t in drillhole DG17-867C at a depth of 33.5 m. The zone is historically known to host gold and has had limited exploration done to test for potential extensions southeast of the nearby Olive-Shamrock mineralization. Grab samples of 23.7 g/t Au and 65.4 g/t Ag have been found in the Catto Zone indicating the potential for near surface, high-grades. These drill results continue to indicate the exploration potential of the company’s land package and indicates the potential extension of the Olive-Shamrock deposit to the recently drilled Catto Zone. Ongoing exploration should be an important catalyst for the company, as they highlight the potential to expand the resource base on the Dublin Gulch property.  read more


Wednesday, October 11, 2017 Derek Macpherson

VIT Hits Gold Below the Eagle Pit

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Victoria Gold Corp. (TSXV:VIT) reported results from the first drill hole from the Eagle Deep target, adjacent and below the 2016 Eagle Gold Mine Updated FS pit boundary. Results returned 0.59 g/t Au over 423m including 0.91 g/t over 161.4m (hole DG17-910C). The company noted visible gold was encountered in core logging at 577m, 608m and 614m. An additional 3 holes were drilled with results pending. Results were successful in highlighting the growth potential in and around the Eagle Gold mine. Exploration at Dublin Gulch continues to successfully highlight the properties exploration upside. Victoria currently trades at a discount on a per ounce basis, or C$32/oz versus peers at C$57/oz, which we believe does not take into account the exploration potential of the Dublin Gulch property or that the project has just transitioned from shovel ready to under-construction.  read more


Tuesday, September 26, 2017 Derek Macpherson

VIT Shows Near-Mine Potential from Eagle Extension Zone

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Victoria Gold Corp. (TSXV:VIT) reported drill results from 14 holes over 2,467m targeting the Eagle Extension Zone, located west of the proposed Eagle Gold Mine, hosting similar geology as Eagle. Results were highlighted by 0.64 g/t Au over 21.3m (DG17-852C) and 0.76 g/t Au over 26.7m (DG17-879C), in an area that previously had been underexplored. In addition, the company completed a surface trench, which returned 0.41 g/t Au over 104m, the full length of the trench. Importantly, the results suggest that mineralization intersected during drilling extends to the surface. Exploration at Dublin Gulch continues to successfully test the Potato Hills Trend exploration model, and highlight the properties exploration upside. Victoria currently trades at a discount on a per ounce basis, or C$29/oz versus peers at C$48/oz, which we believe does not take into account the exploration potential of the Dublin Gulch property or that the project has just transitioned from shovel ready to under-construction. read more


Tuesday, September 19, 2017 Derek Macpherson

VIT Explores New Bluto Target in the East of Dublin Gulch

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Victoria Gold Corp. (TSXV:VIT) reported initial results from the newly discovered Bluto target, northeast of Eagle on the Dublin Gulch property. Trenching returned 0.67 g/t Au over 146m including 2.44 g/t Au over 30m (TR17-16). The target was only recently accessible by an exploration trail constructed to the Nugget Zone, prior to, limited work had been completed. 2017 exploration work on the target has consisted of 22 trenches over 2,800m as well as 10 diamond drill holes over 2,000m, exploration will continue until the end of the field season. Initial results are positive and open up a new area on the property. Upcoming catalyst on this target will be the expected drill results, following further exploration work. Victoria currently trades at a discount on a per ounce basis, or C$30/oz versus peers at C$45/oz, which we believe does not take into account the exploration potential of the Dublin Gulch property or that the project has just transitioned from shovel ready to under-construction. read more


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