Due to wildfire activity, Victoria Gold Corp. (TSX-VGCX) has implemented a partial evacuation of its personnel at the Eagle Gold mine in Yukon.
On Monday, the company said that on the evening of July 29, the mine started to be evacuated and was successfully evacuated on July 30. Some Employees have voluntarily remained on site to continue to run heap leach pumping activities. However, mining and stacking operations have been suspended.
The East McQuesten wildfire is approximately 2,726 hectares in size and is 4 kilometers from the Eagle Gold mine. The company has provided heavy equipment to assist the fire response and measures have been taken to protect mine infrastructure.
On Sunday, the Government of Yukon said in a notice that fire management specialists are using hand ignition to remove fuels from a fire guard with support from air tankers and rotor-wing aircrafts.
The Yukon government will be providing an update on the fire situation at 3 p.m. on Monday. Mugglehead will update the article accordingly.
As of Monday morning at 10 a.m, the wildfire is out of control according to the Yukon wildfire hub. 24 firefighters and one helicopter are working to control the fire.
Image via Yukon Wildfires.
Read more: Yukon government files charges against Victoria Gold over activity at territory’s largest mine
Read more: Victoria Gold reports 50% increase in gold sales during Q1
“The safety of our employees is our highest priority,” CEO John McConnell said in a statement. “We would like to thank the Yukon Wildland Fire Management for their assistance during this time and their continued efforts to manage and respond to wildfire activity in the territory.”
Victoria Gold fully owns a gold property known as Dublin Gulch, located in the heart of Yukon Territory, Canada. The property is approximately 555 square kilometres and has Eagle and Olive deposits. The Eagle gold mine, which is part of this property, is the newest operational gold mine in the Yukon.
The Eagle and Olive deposits have been proven to hold reserves of 3.3 million ounces of gold, extracted from 155 million tonnes of ore with a concentration of 0.65 grams of gold per tonne. This was confirmed in a technical report for the Eagle Gold Mine back in December 2019.
The deposits are estimated to contain a total of 227 million tonnes of ore, averaging 0.67 grams of gold per tonne. This translates to 4.7 million ounces of gold in the “Measured and Indicated” category, which includes the confirmed reserves.
On top of that, there’s an additional 28 million tonnes of ore, averaging 0.65 grams of gold per tonne, potentially containing 0.6 million ounces of gold in the “Inferred” category.
Company stock went up slightly on Monday by 1.06 per cent to $8.59 on the Toronto Securities Exchange.
