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Wednesday, Feb 8, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Victoria Gold diamond drilling shows consistent gold mineralization

The company drilled 27,215 meters across the Dublin Gulch claim, including 6 drillholes for 1,971 meters at Lynx

Dublin Gulch camp. Image via Victoria Gold.

Victoria Gold (TSX: VGCX) provided diamond drilling and surface trench assay results to date from the 2022 Dublin Gulch exploration program for the Lynx target.

The company drilled 27,215 meters across the Dublin Gulch claim, including 6 drillholes for 1,971 meters at Lynx. Twelve surface trenches totalling 936 meters were also constructed and sampled as part of the evaluation.

“Exploration at Lynx in 2022 has demonstrated consistent gold mineralization across a large target area. Through the Lynx campaign multiple strong gold intercepts were observed and mineralization was established across 750m of strike length and over 300m in width,” said Paul Gray, VP technical services of Victoria.

Victoria Gold’s 2022 diamond drilling campaign targeted the intrusive metasedimentary contacts and structures in newly constructed surface trenches. Accordingly, this extended the previous historic drillholes and returned strongly anomalous scorodite, bismuth and siderite related sulphide veins within predominantly altered granodiorite lithologies. In addition, the mineralization style and attitude of veins showed similarities between those noted at Olive and Raven Zones.

Likewise, Lynx is in the Dublin Gulch claim block about five kilometers southwest of Raven, which was Victoria’s main 2021 exploration target. It is centered on a 400 by 700 meter elliptical exposure of Cretaceous granodiorite stock that intrudes overlying metasedimentary Proterozoic Hyland Group and Devonian-Mississippian Keno Hill Quartzite formations.

The Dublin Gulch gold property is located in the central Yukon Territory, Canada. It’s approximately 375 kilometers north of Whitehouse and 85 kilometers from the town of Mayo. It’s accessible by road year round, and connected to Yukon Energy’s electrical grid.

Read more: Calibre Mining 2022 operating results show year round gold production of 222K ounces

Read more: Lundin Gold produced 121K ounces of gold from its Fruta del Norte mine in Q4

Assay results show high grade gold

Results for 3 fully and 1 partially received Lynx exploration drillholes:

  • 24.69 g/t Au over 6.5m from 170.5m in LX22-037C, including:
    • 63.32 g/t Au over 2.5m from 172.0m
  • 2.46 g/t Au over 27.2m from 70.3m in LX22-040C, including:
    • 83.90 g/t Au over 0.5m from 70.3m, and
    • 1.89 g/t Au over 7.1m from 292.2m

Assay results for 10 Lynx exploration trenches:

  • 1.11 g/t Au over 38.0m from 24m in TRLX22-030C
  • 1.06 g/t Au over 10.0m from 16m in TRLX22-031C
  • 0.62 g/t Au over 44.0m from 22m in TRLX22-032C

In sum, the company’s exploration in 2022 at Lynx continued the successes of the previous two years with 4.65 g/t Au over 32.0m in trench TRLX20-5; 2.00 g/t Au over 32.3m from 7.6m in drillhole LX21-025C.

Image via Victoria Gold.

Also, Victoria tested 750 meters of mineralized strike and the target is open in all directions.

Image via Victoria Gold.

The Lynx target also shows characteristics similar to Victoria Gold’s Nugget and Raven exploration targets. There has been some earlier interest in these targets, including a drilling/trenching campaign in 1997 and follow-up drill testing in 2004.

Chart via Stockwatch.com

Victoria Gold’s share price has risen by $0.08 so far and is presently trading at $9.21.

Calibre Mining charts a similar course

Calibre Mining (TSX: CXB) (OTCQX: CXBMF) is on a similar course but at a much cheaper price. It is a growing mid-tier gold producer with a development and exploration pipeline across Nevada and Washington in the United States, and in Nicaragua.

Highlights from its latest drill results include:

  • 17.80 g/t Au over 7.9m (LIM-22-4694)
  • 13.14 g/t Au over 8.4 m (LIM-22-4659)
  • 12.30 g/t Au over 4.4 m (LIM-22-4672)
  • 15.18 g/t Au over 2.9 m (LIM-22-4671)
  • 12.85 g/t Au over 10.6 m including 22.47 g/t Au over 4.9 m (LIM-22-4691)

 

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