- Victoria Gold (GCX) released Q2 production results from its Eagle Gold Mine in Yukon
- It produced 32,055 ounces of gold in the quarter, up from 24,358 ounces in Q1
- Production at the Eagle Gold Mine is 56,413 ounces year-to-date
- Victoria Gold (GCX) is down 2.44 per cent, trading at C$9.20 at 3:15 p.m. ET
Victoria Gold (GCX) released Q2 production results from its Eagle Gold Mine in Yukon.
The Toronto-based exploration company produced 32,055 ounces of gold in the quarter, up from 24,358 ounces in Q1.
Victoria Gold President and CEO John McConnell stated that similar to previous years, the first half of 2022 was a seasonally slow production period at the Eagle Gold Mine.
“We expect to see significant growth in gold production as we move into the second half of this year. We remain confident 2022 production will be within our previously stated guidance range for the Eagle Gold Mine of between 165,000 and 190,000 ounces,”
Ore mined and stacked as well as gold production in Q2 2022 were in line with the same period of 2021.
Waste mined and resultant strip ratio in Q2 2022 were lower than the same period of 2021 due to mine sequencing.
Production at the Eagle Gold Mine is 56,413 ounces year-to-date.
On July 5, 2022, the Yukon Emergency Measures Organization placed a large area of the north-central Yukon Territory, including the Eagle Mine, on Evacuation Alert.
Wildfires located over 90 kilometers southwest of the Eagle Gold Mine caused some disruption to the main Yukon Power Grid, but full power service has since been restored.
Victoria Gold (GCX) is down 2.44 per cent, trading at C$9.20 at 3:15 p.m. ET.