Victoria Announces Eagle Gold Project Drilling Results Including
161.8 m Grading 1.11 g/t Gold.
TORONTO, ON, December 10, 2009 - Victoria Gold Corp. (VIT.TSX-V)
(�Victoria� or the �Company�) is pleased to provide exploration results and a status update on
the Company�s 100%-owned advanced Eagle Gold Project (�Eagle�) located in
the Yukon Territory, Canada.
Shortly after securing the deposit through the Company�s purchase of
StrataGold Corp. which closed on June 4, 2009, Victoria embarked on its
first ever exploration campaign on Eagle. The objective of this campaign
was to seek gold mineralization by drilling in new areas to the west and
at depth to determine if the Eagle deposit�s size could grow
significantly from its current 43-101 compliant Indicated resource of 2.7
million ounces (98.6 million tonnes grading 0.85 g/t).
The assay results of the seven exploration holes drilled to-date are
summarized in the table below.
Table 1: Eagle Gold Project 2009 Drill Results
|
Hole-Id
|
From (m)
|
To (m)
|
Length (m)
|
Gold Grade (g/t)
|
|
DG09-359C
|
428.03
|
439.05
|
11.02
|
1.22
|
|
DG09-360C
|
21.34
|
117.96
|
96.62
|
0.95
|
|
Plus
|
297.79
|
462.38
|
164.59
|
0.96
|
|
Including
|
297.79
|
346.26
|
48.47
|
1.28
|
|
Including
|
386.18
|
462.38
|
76.20
|
1.03
|
|
DG09-361C
|
299.34
|
461.14
|
161.80
|
1.11
|
|
Including
|
372.44
|
409.80
|
37.36
|
1.68
|
|
DG09-362C
|
239.88
|
291.69
|
51.81
|
0.82
|
|
Including
|
239.88
|
267.81
|
27.93
|
1.26
|
|
Plus
|
320.65
|
486.77
|
166.12
|
0.54
|
|
Including
|
320.65
|
363.32
|
42.67
|
0.92
|
|
DG09-363C
|
221.59
|
233.10
|
11.51
|
1.16
|
|
Plus
|
308.46
|
389.23
|
80.77
|
0.52
|
|
Including
|
332.84
|
354.18
|
21.34
|
0.75
|
|
Plus
|
419.71
|
550.77
|
131.06
|
0.68
|
|
Including
|
448.67
|
463.91
|
15.24
|
1.00
|
|
Including
|
486.77
|
503.53
|
16.76
|
0.86
|
|
Including
|
534.01
|
550.77
|
16.76
|
1.26
|
|
DG09-364C
|
209.40
|
402.95
|
193.55
|
0.77
|
|
Including
|
209.40
|
220.07
|
10.67
|
2.53
|
|
Including
|
287.12
|
336.90
|
49.78
|
1.21
|
|
Including
|
364.85
|
396.85
|
32.00
|
0.89
|
|
DG09-365C
|
230.73
|
354.18
|
123.45
|
0.73
|
|
Including
|
276.45
|
354.18
|
77.73
|
1.03
|
|
Including
|
296.27
|
352.65
|
56.38
|
1.26
|
�We are very pleased with these drill results�, stated Chad Williams,
President, CEO, and Director, �because the consistent grades clearly
demonstrate that the Eagle deposit�s gold mineralization remains open at
depth and at least to the west, with many assays being well in excess of
our existing resource grade over substantial widths; these results bode
well for our future exploration campaigns at Eagle and elsewhere on the
property�.
A plan showing the location of these holes can be found at www.vitgoldcorp.com.
Drill holes DG09-360C, DG09-361C, DG09-362C, and DG09-363C show that gold
mineralization exists at least 175 meters below the current resource
envelope in the eastern portion of Eagle. Drill holes DG0 9-364C, and
DG09-365C demonstrate that gold mineralization extends to the west of the
current resource envelope by at least 175 meters.
Status of Eagle Pre-feasibility
Study
The drill results from the 2009 exploration campaign will be
incorporated in the pre-feasibility study being completed by Scott-Wilson
Roscoe Postle (�SWRPA�). Work on the study is progressing well and
Victoria expects to be in a position to release the results of the study
in early 2010.
Diamond drilling in 2009 was carried out using the triple tube method
with HQ3 sized core. Whole core samples were taken, on average, every
1.52m. Assays were prepared, processed and assayed by ALS Chemex in
British Columbia. Assaying was done by fire assay with an atomic
absorption (�AA�) finish, and samples with AA results greater than 10 ppm
were re-run by fire assay with gravimetric finish. Individual high grade
samples in calculated intervals were capped at 10.5 ppm. One standard,
one blank, one duplicate, and one check-assay duplicate was inserted
every 20 samples. True widths of the intercepts are estimated to be from
about 60% to 70% of the intervals reported; true widths are subject to
change pending future geologic information and interpretation.
About Victoria
Victoria Gold Corp. is
a high growth gold company with a focus on adding value per share through
efficient exploration, project development, accretive acquisitions and
effective marketing. Maintaining a low risk profile through project
diversification, sound financial management, and operating in secure
jurisdictions are key priorities for Victoria�s management team.
The technical contents of this news
release have been read and approved by Dr. William Keats, independent
Consulting Geologist. He was present on site during the exploration
drilling program and has reviewed the analytical results and the QA/QC
procedures in place, and is satisfied that the assay results herein
identified are of industry standard quality and reliable. Dr. Keats is a
Practicing Member of the Association of Professional Geoscientists of
Ontario (P.Geo., APGO) and is a Qualified Person as defined in National
Instrument 43-101.
On Behalf of Victoria Gold Corp.
Chad Williams, P. Eng, CEO,
President & Director
|
Cautionary Language and Forward-Looking Statements
This press release includes certain
statements that may be deemed "forward-looking statements".
All statements in this discussion, other than statements of historical
facts, that address future exploration drilling, exploration activities
and events or developments that the Company expects, are forward
looking statements. Although the Company believes the expectations
expressed in such forward looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include
metal prices, exploration successes, continued availability of capital
and financing, and general economic, market or business conditions.
Accordingly, readers should not place undue reliance on forward-looking
statements.
This news release and the
information contained herein does not constitute an offer of securities
for sale in the United States and securities may not be offered or sold
in the United States absent registration or exemption from
registration.
|
|