Victoria Gold Corp. Could 11 reported sturdy efficiency at its newly developed Eagle Gold Mine within the Yukon, thanks partially to the corporate’s COVID-19 motion plan.
Mining, crushing and stacking ore on the leach pad at Eagle elevated considerably throughout April. In consequence, the corporate reported a big enhance in gold manufacturing final month, a development that’s anticipated to proceed within the coming months.
Eagle produced 6,768 ounces of gold throughout April, in comparison with a complete of 10,544 ouncesthrough the first three months of 2020. Whereas April manufacturing is lower than the roughly 17,000 ouncesmonth common anticipated from the mine, it reveals the operation is ramping as much as its full potential.
A gradual ramp up in gold manufacturing is a part of the pure development for a heap leach gold operation, because it takes time for the gold to leach out of the rock and to stack further ore on the pad.
And crews stacked 786,954 metric tons of ore on the Eagle Gold pad throughout April, which is sort of as a lot because the 887,700 metric tons stacked through the first three months of 2020 mixed.
This coincides with the mining charge on the Yukon operation. Throughout April, 854,295 metric tons of waste materials and 759,133 metric tons of ore was mined, in comparison with 1.57 million metric tons of waste and 946,479 metric tons of ore through the first quarter.
Eagle’s rising gold output is coming at a really perfect time.
“With manufacturing ramping up and gold worth at file highs, Eagle is poised to exceed our projections!” mentioned Victoria Gold President and CEO John McConnell.
On Sept. 17, when the primary bar of gold was poured at Eagle, gold was hovering round US$1,500/oz. This already sturdy worth for the dear steel has continued to extend to present ranges of round US$1,700/ouncesand analysts are predicting this development to proceed.
Financial institution of America Merrill Lynch is predicting the value of gold will hit US$3,000/ouncesby mid-2021, or roughly double the value when Eagle poured its first ounce.
To make sure that Eagle was capable of proceed to ramp up its gold output on this sturdy worth surroundings, Victoria enacted strict COVID-19 measures to guard its workforce and Yukon communities.
Up to now, there have been no confirmed COVID-19 circumstances at Eagle Mine and solely 11 in Yukon, with not one of the circumstances within the territory requiring hospitalization and all totally recovered.
Eagle Gold workers labored 72,984 hours throughout April with no misplaced time incident. Persevering with an ideal file for 2020, these staff logged 286,092 hours with out an LTI through the first 4 months of the 12 months.
“The ramp-up of Eagle has gone exceptionally properly and we owe a honest debt of gratitude to our workers and contractors for adopting and embracing Victoria’s rigorous COVID protocols whereas working safely and diligently to make sure operational success,” mentioned McConnell.