Victoria Gold (VIT.V) has released the assay results from an additional 12 holes at the Shamrock zone and as the company’s VP Exploration correctly states ‘every target we drill on the property, we find gold’. And indeed, with almost 40 meters containing 1.04 g/t gold and several intercepts with gold values of in excess of 2 g/t gold, Victoria Gold can be very happy with its exploration program.
In fact, the company is so happy, it’s even doubling the size of the 2017 exploration budget from C$6.2M to C$12.5M which should see the company complete in excess of 10,000 additional meters of drilling. Approximately 23,000 meters of diamond drilling has been completed at Dublin Gulch whilst an additional 5,000 meters (in 24 drill holes) has been completed at the Olive Shamrock zone, which could expand the currently planned open pit at Olive-Shamrock.
There’s very little doubt Victoria Gold is a high-priority acquisition target and after Goldcorp (G.TO, GG) acquired Kaminak Gold (KAM.V) last year, it’s clear the majors could be very interested in more Yukon-focused gold companies. We wouldn’t be surprised to see Victoria Gold end being acquired by a large player within the next 18 months.