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Friday, Sep 22, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Victoria Gold 2023 drilling campaign confirms mineralization at Raven deposit in the Yukon

The 2023 program also saw the progress of various exploration targets within the Dublin Gulch Gold Camp, including Lynx

Victoria Gold 2023 drilling campaign confirms mineralization at Raven deposit in the Yukon
Image via Victoria Gold.

Victoria Gold Corp’s (TSX: VGCX) 2023 drilling campaign at the Raven deposit in the Yukon confirmed mineralization over a strike length of 1.7 kilometers with long intervals of gold mineralization showing 144.0 meters of 0.81 g/t Au and 78.4 meters of 1.40 g/t Au.

The company announced its first analytical results for the 2023 exploration campaign at the Raven deposit on Thursday.

Assays for 16 of the 39 drillholes collared in 2023 have been received – highlighted results are presented below:

  • 7.80 g/t Au over 6.0 meters from 235.5 meters in NG23-167C
  • 3.03 g/t Au over 11.3 meters from 256.3 meters in NG23-168C
  • 20.20 g/t Au over 1.1 meters from 292.3 meters in NG23-170C
  • 3.45 g/t Au over 27.5 meters from 239.0 meters in NG23-172C
  • 3.47 g/t Au over 18.5 meters from 170.5 meters in NG23-179C

Victoria completed 13,220 meters of diamond drilling at its Raven deposit including 39 holes along 1,282 meters of surface trenches. It also completed detailed structural and geological mapping and prospecting. Drilling in 2022 and 2023 also tested an extra 400 meters of strike length from the the 2022 resource eastern limits.

“A busy 2023 exploration program served to validate and expand the mineralized footprint of Raven while increasing overall confidence in the Raven deposit,” said John McConnell, President and CEO of Victoria.

“With each successive season, Raven has grown in size and 2023 should prove no different as we focused exploration towards growth of the deposit along strike – particularly to the east where 2023 results underscore the development of a high-grade trend.”

Alongside the concentrated drilling efforts at the Raven deposit, the 2023 program also saw the progress of various exploration targets within the Dublin Gulch Gold Camp, including Lynx. This progress was achieved through activities such as surface trenching, soil geochemical surveys, geological mapping and prospecting.

Read more: Calibre Mining expands high-grade gold mineralization zones within Limon mine complex

Read more: Calibre Mining reports record breaking sales and increased net income in Q2

Raven deposit shows potential for high-grade gold

Raven has garnered significant attention due to its potential for high-grade gold.

Situated at the far southeast edge of the Nugget Intrusive Stock within the broader Earn Group metasedimentary formation. The Nugget Intrusive Stock, an imposing geological formation measuring about 3 kilometers by 2 kilometers, is composed of geological formations dating back to the Cretaceous era. Its second in size in the Dublin Gulch property, only surpassed by the Dublin Gulch Stock, which is home to the prosperous Eagle Gold Mine.

It also possesses the same sheeted vein mineralization as what’s found at the Eagle Gold Mine. Additionally, a substantial portion of this vast geological formation, covering an expansive area exceeding 5 square kilometers, remains largely untapped, holding the promise of unearthing significant gold resources in the future.

Shares of Victoria Gold rose 2.2 per cent to $6.40 on the Thursday on the Toronto Stock Exchange.


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