Issue link: http://resourceworld.uberflip.com/i/1037672
42 www.resourceworld.com O C T O B E R / N O V E M B E R 2 0 1 8 C onstruction of the Victoria Gold Corp. [VIT-TSXV] Eagle Gold Mine in central Yukon is well underway with the first gold pour expected in the second half of next year. Located on the 100%- owned Dublin Gulch property, the Eagle Mine is 85 km north of Mayo and 375 km north of the capital of Whitehorse. "The successful construction program completed late in 2017 allowed us to hit the ground running and construction of the Eagle Gold Mine is off to an out- standing start," stated John McConnell, President and CEO. "I am pleased with the significant number of Yukon-based com- panies and Yukon First Nation partnered businesses that have already been engaged for construction which has resulted in a high level of local hiring. This is an important focus area for Victoria as we build Yukon's next and largest ever gold mine." Combined, the Eagle and Olive deposits host NI 43-101 compliant proven and prob- able reserves totaling 2.7 million ounces of gold contained in 123 million tonnes of ore grading 0.67 g/t gold as determined in a feasibility study. Resources for the Eagle and Olive deposits have been estimated to host 191 million tonnes averaging 0.65 g/t gold containing 4.0 million ounces of gold in the measured and indicated cat - egory, including the proven and probable reserves, as well as a further 24 million tonnes averaging 0.61 g/t gold containing 0.5 million ounces of gold in the inferred category. Total commitments for procurement are approximately $304 million with over $175 million incurred to date. The 2016 Feasibility Study construction capital plus year one sustaining capital was estimated at $411 million with the revised construc - tion capital estimate finalized at $442 million. The company decided to purchase new major mobile equipment to improve operational efficiency and take advantage of attractive pricing as well as expected inflationary increases. All primary mobile mining equipment has arrived on site with crushers to follow shortly. Major earthworks are well underway on the crushing plant, gold recovery plant and heap leach facility preparation. Casting of foundations for the crushing and gold recovery facilities are in progress. Camp expansion from 250 to full 440-bed capacity has been completed. The proposed mine will produce doré bars from a conventional open pit opera Victoria Gold builds Eagle Mine and concurrently explores Dublin Gulch by Ellsworth Dickson MINING