Victoria Gold Corp. (TSXV:VIT) reported results from 12 holes drilled at its Olive-Shamrock Zone from ongoing exploration on its Dublin Gulch property
in the Yukon. Results continue to return high-grade results over good widths, as highlighted by 2.78 g/t Au and 33.15 g/t Ag over 22.5m (DG17-848C)
and 2.24 g/t Au and 2.01 g/t Ag over 16.5m (DG17-845C). Notably, due to continued exploration success the company has increased its exploration budget
from C$6.2 million to C$12.5 million. Drilling focused on Olive-Shamrock is now complete (24 holes over 5,000m) with results from 9 holes pending.
The company is now targeting the Spinach Zone located north of Shamrock. We expect continued exploration success to be a positive catalyst for the
stock and should help demonstrate the exploration upside that exists. Victoria currently trades at a discount on a per ounces basis, or C$33/oz versus
peers at C$57/oz, which we believe does not take into account the exploration potential of the Dublin Gulch property or that the project has just transitioned
from shovel ready to under-construction.
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
Red Cloud Klondike Strike Inc.
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Priced as of prior trading day's market close, EDT (unless otherwise noted).
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Victoria Gold Corp. - TSXV:VIT - 1,2,4
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