Gold price tumbles on reports of de-escalating Middle East tensions
Gold plunged 3% after Axios reported that Israel and Lebanon have accepted the terms of a ceasefire agreement.
Victoria Gold (TSXV: GCX) has completed over 13,200 metres of diamond drilling at the Raven gold deposit in the Dublin Gulch camp in Canada’s Yukon Territory. The company highlighted three intersections: 7.6 metres at 4.52 g/t gold from 257.8 metres, 11.7 metres at 31.48 g/t gold from 182.9 metres, and 31.4 metres at 5.83 g/t from 44.6 metres.
The drilling occurred to the east of the current resource boundary following up on last year’s high-grade results that included 14.5 metres at 20.24 g/t gold.
“The 2023 Raven exploration season is now completed and, as these latest results demonstrate, has continued to identify high-grade gold mineralization both internally and externally to the current Raven deposit bounds,” Victoria CEO John McConnell said in a news release.
“Work on an updated Raven resource is now underway and we look forward to seeing two full seasons of drilling added to the maiden resource estimate.”
The resource estimate made a year ago included 20 million inferred tonnes averaging 1.67 g/t gold containing 1.1 million oz. at a cut-off of 0.50 g/t.
The recent drilling at the Raven deposit confirmed mineralization over a strike length of 1.7 km. When cores were tested for base metals, several highly anomalous veins were intercepted. They included 1.2 metres at 3.10 g/t gold plus 23.46% lead, 22.32% zinc and 545.0 g/t silver; 3.5 metres at 13.68 g/t gold plus 11.04% lead, 7.00% zinc and 216.08 g/t silver; as well as 1.9 metres at 6.26 g/t gold plus 5.90% lead, 7.33% zinc and 35.08 g/t silver. No economic assessment of these veins has been carried out.
Victoria’s 100%-owned Dublin Gulch gold property is situated in central Yukon about 375 km north of the capital city of Whitehorse, and approximately 85 km from the town of Mayo. It is accessible by road year-round and is located within Yukon Energy’s electrical grid.
