Canada invests $70m in Seymour Lake lithium project in Ontario
The lithium mine operated by Australia's Green Technology Metals could become the province's first lithium producer.
Building on a record first quarter, Victoria Gold (TSX: VGCX) continued to post strong operating results with 45,568 oz. of gold produced during the second quarter of 2023, a 42% improvement over the same quarter last year.
This brings its total gold produced during the first half of 2023 to 83,188 oz., about 47% more than the output from H1 2022. Last year, the company produced 150,182 oz.
Victoria is the 100% owner of the Dublin Gulch gold property situated in central Yukon, approximately 375 km north of the capital city of Whitehorse. It covers an area of approximately 555 sqkm and is the site of the company’s Eagle and Olive open-pit deposits.
The Eagle mine, which entered commercial production in July 2020, is expected to produce 2.1 million oz. over an estimated mine life of 12 years, based on its latest mine plan. Average annual gold production would reach 202,000 oz. over the first eight years, with peak production of 219,000 oz. in 2025.
Shares of Victoria Gold rose 3.8% as of noon EDT on the Q2 2023 results. The company has a market capitalization of $546.4 million.
