Exploration is located approximately 300 kilometres north of Melbourne and 4 kilometres south of the snowfields town of Bright in north east Victoria. The tenement area is 4 square kilometres.
Victorian Gold Mines Pty Ltd
Welcome to Victorian Gold Mines
Victorian Gold Mines N. L. (Vic Gold) expects to list on the ASX by issuing up to 15 million shares at 20cents in its IPO. No options will be issued before listing. Loyalty options will be issued to all registered shareholders approximately 12 weeks after listing. Options will be issued on a basis of one option for every two shares at a cost of one cent.
Vic Gold holds or is currently negotiating four ELs and seven MINs. Historically, 242,828 ounces of gold has been recorded as being produced in and around the project areas. Substantially more gold has likely been taken but not recorded by prospectors using various methods over the last 150 years. Vic Gold is initially targeting over 100,000 ounces from these leases. This target will most likely increase over time as more work is done on the leases.
The objective is to mine small high grade mineralisation (average 10-15 grams/per tonne) while keeping costs to between $350 to $450 per ounce. Bonanza grades will most likely be encountered in some areas where nuggetty gold prevails. Vic Gold aims to be profitable from year one. Once this strategy is proven to be profitable, more of the same will occur by acquiring other leases.
