Canadian Mining Journal

News

GOLD: Victoria Gold raises $10M for Dublin Gulch drilling



Stylized layout of the Eagle gold mine site. Accommodations are at the lower left.

YUKON – Victoria Gold of Toronto is raising $10 million through the sale of approximately 11.5 million flow-through shares at a price of $0.87 each. The proceeds will be used to fund exploration drilling at the Dublin Gulch gold property 85 km north of the town of Mayo.

Dublin Gulch covers about 555 km2 and includes the company’s flagship Eagle gold deposit that has received all the major permits for construction and mining. The Eagle project promises to be the largest ever gold mine in the territory. A conventional open pit and heap leaching operation is planned at a cost of $369 million.

The Eagle gold feasibility study can be read by clicking here.