Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Victoria Gold has released assays for the final 13 drilholes from this year’s exploration program at the Raven target within its wholly owned Dublin Gulch property in the Yukon. These intercepts feature long intervals of gold mineralization, which, according to the release, are typical for Raven.
Drill highlights include 19 metres of 3.95 g/t gold from 90.4 metres, within a 174.2-metre section of 0.76 g/t gold; 10.5 metres of 2.13 g/t gold from 183.1 metres, within a 126-metre section of 0.68 g/t gold; and 50.8 metres of 1.63 g/t gold starting at 121.5 metres, in a 107.2-metre section of 0.92 g/t gold.
“Raven continues to deliver high-grade, near-surface gold intervals,” John McConnell, the company’s president and CEO, said in a release. “Raven is one of several targets identified through application of the Potato Hills Trend Mineralization Model. Results from this geological model highlight the extensive mineral potential of the Dublin Gulch gold camp.”
McConnell added that the Raven mineralization remains open, and the target will be a major focus of Victoria’s exploration work next year.
Overall, this year’s campaign tripled the strike extent of this zone, increasing it by over 750 metres.
Over the course of the field season, the company completed diamond drilling, surface trenching, mapping and soil geochemical surveys over the area. Victoria also collected oriented core, which, together with detailed core logging and surface mapping, will be used to vector in on controls to the mineralization.
Victoria Gold wholly owns the 555-sq.-km Dublin Gulch property, which also includes the operating Eagle gold mine. On Friday, the company also reduced the production guidance for Eagle for the second half of this year.
(This article first appeared in the Canadian Mining Journal)
