Issue link: http://resourceworld.uberflip.com/i/581931
22 www.resourceworld.com o c t o b e r / n o v e m b e r 2 0 1 5 2.3 million ounce gold Reserve (92 M tonnes averaging 0.78 g/t) 200,000 ounces of gold per year billion lbs of copper. Mill throughput is a planned 120,000 tonnes per day. The quartz mining license, which allows for construction to start, is expected in late 2016 or early 2017. The company has already locked in equipment costs and has signed a letter of intent with M3 Engineering to operate the mine. M3 Engineering and Technology is expected to begin construction of the mine in 2017 with gold heap leach produc- tion to begin in 2019 and mill production expected to begin around 2021. Capital costs total $2.45 billion and the next step is to secure project financing. Management says that they are looking to line up a partnership to build the mine. The company says they have had dis- cussions with interested parties and are feeling positive about their financing opportunities. Currently, the company has $13 million in the bank and plans to spend $3 million more this year on permitting. Cooperation agreements with First Nations have been signed. Victoria Gold Corp. [VIT-TSXV] has a completed feasibility study, signed an Impact Benefit Agreement with First Nations, has completed the Environmental Assessment process and has permits for construction of their Eagle Gold Project on their Dublin Gulch property, 80 km from the village of Mayo, central Yukon. The Eagle Gold Project, with a 2.3 million oz reserve and a per oz average operating cost of $615, has a LOM of 10 years. The project has a NPV of $381 million with estimated capital costs of $400 million. The company expects to receive the Water Use Licence by the end of September; all other permitting is in hand. As John McConnell, President and CEO, says, "It's shovel ready." The mine plan is a simple, open pit, heap leach operation. The company will look to debt and a JV partner to build the mine. McConnell says Victoria is in dis- cussions with potential partners. Once in operation the mine is expected to produce +200,000 ounces of gold annually. The Eagle Gold Project is located within the 350 sq km Dublin Gulch property, where additional exploration targets have been discovered. Drilling results from the 2014 exploration program at the Olive Zone, located 2 km from the Eagle deposit, show that Olive could potentially add significant impact on Eagle economics. McConnell says the results also indicate that the Shamrock Zone is connected to the Olive Zone. The Olive Zone is expected to add tremendous GolDen PreDaTor MininG inTerSecTS ounceS Per Ton On September 14, Golden Predator Mining Corp. [GPY-TSXV] announced some spectacular drill results from their completed RAB drill program which con- firmed gold mineralization, in advance of bulk sampling, from the Sleeping Giant vein at their 3 Aces project in southeast Yukon. The property consists of 1,118 con- tiguous quartz claims (23,000 hectares) and is located along the all‐season Nahanni Range Road which accesses the Cantung Mine 40 kilometres to the north. All 13 shallow holes totaling 150 ft (45.73m) intersected gold mineralization at or near the surface. Highlights include: • Hole 3ARAB15-11 with 2.5 ft from surface of 9.73 oz/t (333.50 g/t) gold; • Hole 3ARAB15-05 with 2.5ft from surface of 6.84 oz/t (234.50 g/t) gold; • Hole 3ARAB15-12 with 7.5ft from surface of 3.04 oz/t (104.39 g/t) gold; and • Hole 3ARAB15-13 with 7.5 ft from surface of 4.64 oz/t (158.97 g/t) gold.