11 September: Victoria Gold Corp (VIT:TSXV) has reported encouraging results from its 2017 drilling programme at the Olive zone, part of the Eagle gold project where mine construction has commenced.
The company has drilled seven diamond holes (2,428 m) targeting areas south and west of the main Olive zone. Highlights include 33.3 m at a grade of 1.54 g/t gold; 9.1 m at 3.14 g/t gold and 13.9 m at 1.56 g/t gold. Confirming the geological interpretation for the property, the holes intersected gold mineralisation within the granodiorite, with lower grades where the host metasediments were intersected.
The current Olive M&I resource is 10.0 Mt at a grade of 1.07 g/t gold and the Inferred resource is 7.0 Mt at a grade of 0.89 g/t gold. Both were included in the 2016 feasibility study. The 2017 drilling programme is aimed at increasing these resource estimates.
Victoria is also drilling elsewhere on the Dublin Gulch property at Shamrock and the new Spinach target.