Victoria Gold resumes ore stacking

March quarter operations were impacted by periods of “exceptionally cold weather”
Victoria Gold resumes ore stacking Victoria Gold resumes ore stacking Victoria Gold resumes ore stacking Victoria Gold resumes ore stacking Victoria Gold resumes ore stacking

March quarter production slowed due to exceptionally cold weather.

Yukon-based Victoria Gold has resumed ore stacking at its Eagle Gold mine in northern Canada, chief executive John McConnell said.

"During the first quarter, we successfully completed a six-week winter maintenance programme and resumed stacking ore on the heap leach pad," he said.

"As we head into spring, stacking rates will significantly increase along with gold production as fresh ore is placed under irrigation."

March quarter operations were impacted by periods of "exceptionally cold weather," the company said.

The Eagle mine produced 24,358 ounces of gold in the first quarter of 2022, down from 26,759 ounces of gold year-on-year.

Gold production in the March quarter was seasonally low, with Victoria Gold only able to move forward with limited ore stacking on the heap leach pad. Year-on-year stacking rates were roughly the same, the company said.

As for ore mined, this March quarter produced less year-on-year (1.3 million tonnes compared to 1.6 million tonnes). Victoria Gold has stocked up sufficient stockpiles in 2021, and did not need to increase ore production.

The mining rate also fell year on year, at 39,000 tonnes per day from 69,000 tpd.

The Eagle gold mine contains proven reserves of 30 million tonnes at 0.71 g/t for 694,000 ounces of gold, and probable reserves of 118 million tonnes at 0.63 g/t for 2,366,000 ounces of gold.

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