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Saturday, Dec 9, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Victoria Gold provides more assays for Raven Proximal program

The present Raven resource estimate shows 1.1 million ounces at 1.7 g/t Au

Image via Victoria Gold

Victoria Gold (TSX: VGCX) provided additional assay results from its 2022 Raven Proximal program at the Dublin Gulch Gold camp today.

Raven is one of the many on/near-surface gold targets on the property.  It was the principle focus of the exploration activities for the Dublin Gulch region in 2022. the present Raven resource estimate shows 1.1 million ounces at 1.7 g/t Au. Also, during the 2022 season, the company drilled 27,215 metres across the claim package, including 90 drillholes for 25,244 metres at the Raven deposit.

”The consistency of the mineralized structures and grades across Raven are notable and, as demonstrated from the results of the Raven Distal Exploration Program which were released last week, mineralization remains open for expansion, with the eastern strike extent a prime target for the 2023 exploration program,” said John McConnell, president and CEO of Victoria.

Read more: Calibre Mining Pan Mine assays show strong potential for Coyote mine target

Read more: Calibre Mining offers a ‘very attractive’ value-risk proposition: Haywood Securities

Victoria Gold delivers 33 of 44 assays

The Raven Proximal program has 30 drillholes (8,810 meters) in the existing Raven resource footprint and 14 drillholes (4,410 metres) collared in 100 metres of the Raven resource footprint. Victoria Gold has delivered 33 of the 44 assays for these.

Victoria Gold drill results. Image via Victoria Gold.

The Raven drilling program in 2022 advanced two main objectives. The first is the Raven Proximal Program, which included drilling in and around the current footprint of the Raven deposit. Further assays will define and test the mineralization potential and also contribute to an updated resource estimate later this year.

Additionally, the Raven Distal Exploration program is the second consideration. It includes drilling beyond the existing Raven deposit to test mineralization extension by approximately 500 metres strike length and over 100 meters in width.

These assays are not expected in the 2023 updated resource estimate. Consequently, they will confirm the existence of mineralization for future resource expansion.

Shares of Victoria Gold rose $0.38 on the news and are presently trading at $10.12 per share.

Read more: Victoria Gold recent assays show promise for Dublin Gulch Gold Camp

Read more: Victoria Gold reports sub-optimal 2022 results due to mechanical failure

Additionally, Calibre Mining (TSX: CXB) (OTCQX: CXBMF) is another gold explorer making waves in the space with its recent assays, especially in its Coyote target at the Pan Mine project in Nevada.

New Coyote Pan south discovery initial results:

• Hole PR22-237 18.29 metres grading 0.61 per cent g/t Au from 44.20 metres

• Hole PR22-238 13.72 metres grading 1.36 per cent g/t Au from 24.38 metres. Including 4.57 metres grading 2.77 per cent g/t Au from 25.91 metres

Shares of Calibre rose 5 per cent today and are now trading at $1.155 a share.


Calibre Mining is a sponsor of Mugglehead news coverage

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