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EDISON EQUITY RESEARCH: VICTORIA GOLD - OLIVE MET RESULTS SUPPORT HEAP LEACHING


Metallurgical test results for the Olive satellite (to Eagle) deposit back up initial test results published in February and support Olive as a worthwhile potential higher-grade ore feed to the future Eagle processing plant. Additional testing at the Shamrock deposit is also anticipated, with early indications of potentially greater gold recoveries. Victoria Gold (VIT) had C$14.8m in cash at end February 2015 which, at current cash burn rates, should last well beyond end CY17.

The Eagle Gold Project, Victoria Gold’s flagship project, is located in the 100%-owned Dublin Gulch property in the Yukon Territory, Canada. Victoria Gold also intends to explore its other claims while developing Eagle and is looking to monetise its Santa Fe project in Nevada, US.

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