Jun 6 2016
Victoria Gold Corp. "Victoria" or the "Company" is pleased to announce the next batch of results from the 2016 Olive-Shamrock diamond drilling program. The 2016 drill campaign has been expanded from 7,800m to over 12,000m.
Mr. John McConnell, President and CEO of Victoria commented; "Results for the 2016 exploration program continue to demonstrate the potential for Olive to become a high quality deposit within Victoria's Dublin Gulch mining camp. Based on the strong results to date and significant cost savings from a well-executed program, we have expanded our drilling campaign by 50%."
2016 Olive-Shamrock Zone Assay Results
Gold assays from 40 of an estimated 60 diamond drill holes from the 2016 program at Olive have been received to date. The assay results from the first 27 holes, which included 38.1m at 2.1 g/t, 73.8 at 1.6 g/t and 26.5m at 2.1 g/t gold were outlined in News Releases dated May 5, 2016, May 13, 2016 and May 24, 2016. The assay results for the subsequent 13 holes received included in-fill and step out drilling along strike from Olive northwest towards the Shamrock Zone, and are summarized in the table below:
|
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Gold (g/t)
|
|
DG16-672C
|
138.7
|
252.8
|
114.1
|
0.6
|
|
including
|
162.2
|
177.7
|
15.5
|
2.3
|
|
DG16-673C
|
38.1
|
86.9
|
48.8
|
0.9
|
|
including
|
42.7
|
71.6
|
29.0
|
1.3
|
|
DG16-674C
|
4.6
|
17.2
|
12.6
|
0.9
|
|
DG16-675C
|
47.0
|
93.0
|
46.0
|
1.1
|
|
including
|
51.3
|
71.6
|
20.3
|
2.1
|
|
DG16-676C
|
27.1
|
84.8
|
57.7
|
0.5
|
|
including
|
27.1
|
40.8
|
13.7
|
1.4
|
|
DG16-677C
|
24.0
|
109.5
|
85.5
|
0.9
|
|
including
|
24.0
|
70.7
|
46.7
|
1.5
|
|
DG16-678C
|
36.6
|
73.2
|
36.6
|
0.9
|
|
including
|
37.3
|
58.5
|
21.2
|
1.5
|
|
DG16-679C
|
No Significant Values
|
|
DG16-680C
|
27.4
|
73.2
|
45.7
|
2.5
|
|
including
|
28.8
|
39.6
|
10.9
|
8.2
|
|
DG16-681C
|
23.3
|
24.0
|
0.7
|
1.0
|
|
and
|
73.8
|
74.8
|
1.0
|
2.6
|
|
DG16-683C
|
41.9
|
50.4
|
8.5
|
0.8
|
|
including
|
41.9
|
43.0
|
1.1
|
5.9
|
|
DG16-684C
|
14.7
|
16.7
|
2.0
|
7.8
|
|
DG16-685C
|
52.6
|
60.1
|
7.5
|
1.3
|
|
and
|
92.7
|
184.4
|
91.7
|
0.4
|
|
including
|
92.7
|
117.6
|
24.9
|
1.0
|
Note: Reported intersections are drilled intersections, but are estimated at approximately two-thirds of true width of the mineralized zone.
The 2016 Olive-Shamrock exploration program is designed to increase confidence in a potential gold resource estimate and expand the Olive-Shamrock Zone along strike and across the interpreted mineralization controlling structure. Currently, the Olive-Shamrock Zone has been tested over a strike length of 1.5 kilometres and approximately 300 metres in width, with the main focus of 2016 drilling concentrated within an area of approximately 500 metres by 300 metres.
An updated plan map and drill sections relating to the assay results presented above, as well as a summary table of the 2016 Olive drilling results, will be made available on the Company's website www.vitgoldcorp.com.
Analytical Method
All exploration drill core from the Olive-Shamrock 2016 program was analyzed at SGS Canada Inc. of Burnaby, B.C. utilizing the GE-ICP40B, 34-element analytical package with FAA5515 50-gram Fire Assay with Gravimetric finish for gold on all samples. All core samples were split on-site at Victoria's Eagle camp and shipped to SGS Canada Inc.'s mobile sample preparation laboratory that has been set-up on-site, at the Eagle Gold Project. There, samples were sorted and crushed to appropriate particle size (coarse crush) and representatively split to a smaller size (250 grams) for shipment to SGS Canada Inc.'s Burnaby analytical laboratory facilities. A comprehensive system of standards, blanks and field duplicates has been implemented for the 2016 Olive-Shamrock drilling program and is monitored as chemical assay data become available.
2016 Olive-Shamrock Exploration Program
The Olive-Shamrock Zone is a near-surface mineralized target situated approximately 2 kilometers from the fully-permitted Eagle Gold project and has the potential to enhance Eagle Project economics by virtue of additional higher-grade ore; increased flexibility in mine planning and lowering capital intensity from shared infrastructure.
The Olive-Shamrock definition and exploration program began in March 2016. The program consists of diamond drilling, surface trenching and geophysical surveys over the Olive-Shamrock zone with a focus on the previously undrilled areas linking Olive and Shamrock mineralization. The program is designed to result in the maiden Resource Estimate for the Olive-Shamrock Zone.