YUKON – Victoria Gold of Toronto says it has received the final major permit for its Eagle Gold project 375 km north of Whitehorse, within the Dublin Gulch property. With the water use licence obtained, the company is cleared for construction, operation and closure of the project.
Eagle Gold will be an open pit and heap leach project with preproduction costs of C$400. According to the 2015 feasibility study, the project has a pre-tax net present value (8% discount) of C$273 million and a pre-tax internal rate of return of 24.1%. Annual output will be 212,000 oz of gold at an estimated all-in sustaining cost of US$729 per oz.
Victoria said in its latest presentation that it is working with a syndicate of banks on financing or it may entertain a joint venture.
The feasibility study can be read at VitGoldCorp.com.