On June 4, 2009, Victoria Gold Corporation acquired StrataGold Inc. and all of its subsidiaries which included StrataGold Guyana Inc., StrataGold (Barbados) Corporation, and Tassawini (Barbados) Corporation.

Eagle Gold Project- Dublin Gulch, Yukon

The Eagle Gold Project shows the ideal combination of positive mineral indicators, a desirable location with road and power access, and a strong, experienced management team.  Historically, the Yukon has been productive region for gold, and this property shows an Indicated Resource of 2.7 million ounces of gold (98.6 million tonnes grading 0.85 g/t), with a low waste-to-ore ratio and metallurgical characteristics favourable to lower-cost heap leach processing.  Its location provides good road access, is near to hydroelectric power and is within a progressive mining jurisdiction.

Feasibility studies are promising; a 1997 Feasibility Study (conducted by Rescan) indicated its economic viability at a gold price of $350/oz, with significant sensitivity to gold price fluctuation.  An updated NI 43-101 Pre-feasibility Study by Scott Wilson Roscoe Postle Associates will be completed by year end.  Enviromental and socio-economic baseline studies will be completed by Stantec (formerly "Jaques Whitford"), at the same time.

Location

The Dublin Gulch property is situated in the Mayo Mining District of Central Yukon Territory, Canada. It is located approximately 85 kilometres (km) north-northeast of the village of Mayo and is centered at latitude 64º 2' N and longitude 135º 50' W. The property is road accessible.

History

Land

Dublin Gulch is 100% owned by Victoria Gold and consists of 1,896 quartz claims, 10 quartz leases, and 1 federal crown grant quartz claim, comprising an area of 34,576 hectares.

Geology

The Dublin Gulch property is underlain by Proterozoic to Lower Cambrian-age Hyland Group metasediments and the cretaceous intrusive Dublin Gulch granodioritic stock. The stock has been dated at approximately 93 million years, and is therefore a member of the Tombstone Plutonic Suite. The Hyland Group is comprised of interbedded quartzites and phyllitic metasedimentary rocks. The quartzites are variably gritty, micaceous, and massive. Phyllitic metasediments are composed of muscovite-sericite and chlorite. Limestone units are a relatively minor constituent of this stratigraphic sequence.

Mineralization

The Dublin Gulch stock is comprised of four phases, the most significant of which is granodiorite. Quartz diorite, quartz monzonite, leucogranite and aplite comprise younger intrusive phases that occur predominantly as dikes and sills and cut both the granodiorite and surrounding country rocks. The stock has intruded the Hyland Group metasediments near their contact with the underlying Upper Schist.

The Eagle Gold Project hosts an Indicated gold resource of 2.7 million ounces. In addition, the project has road accessibility, a low waste-to-ore ratio, attractive metallurgical characteristics that make the deposit amenable to lower cost heap leach processing, and nearby hydro-electric power. A feasibility study on Eagle conducted by Rescan (now Wardrop) Engineering in 1997 concluded that the project was economic at a gold price of $350 per ounce with significant sensitivity to a fluctuation in the price of gold.

Resources

In 2009 StrataGold released an updated National Instrument (NI) 43-101 Mineral Resource estimate on the Eagle Zone Deposit which increased the Indicated gold resource by 37% from the 2006 previously stated resource estimate. The Mineral Resource is tabulated below, reported at 0.50 g/t gold cut-off.

The 2009 NI 43-101 Mineral Resource Estimate Technical Report is available here.

Work Programs

Drilling in 2006 confirmed that the granodiorite stock associated with the Eagle Zone is the equivalent to the granodiorite stock at the Steiner Zone, a new zone of gold mineralization discovered to the NWof the Eagle Zone. Extensive geochemical soil sampling and trenching was completed approximately 3 km NE of the Eagle Zone where the Shamrock Zone was discovered.

Another of the highlights of the 2006 exploration season was diamond drillhole DG06-314C which successfully intersected the Eagle Zone 180-200 m below the existing resource. The Eagle Zone remains open along strike to the east and west and the results from 2006 represent an opportunity to define additional resources at depth.

The drill program in 2007 tested the Shamrock Zone, 3 km to the NE of the Eagle Zone Deposit, where extensive soil sampling and trenching in 2006 outlined an area of highly anomalous gold in soils along with exposing an arsenopyrite/scorodite/quartz/gold/silver vein system over a strike length of 300 m. All five holes drilled at Shamrock collared in and ended in the Dublin Gulch granodiorite stock, which hosts the Eagle Zone deposit. These results confirm excellent potential to add additional gold resources to the Dublin Gulch property outside of the Eagle Zone. In addition to the diamond drilling, the soil grid at the Shamrock Zone was tripled along the projected defined strike of the exposed veining.

At the Eagle Zone, diamond drilling in 2007 tested the Eagle Zone as well as two new areas, known as 'Target Zones A and B'. The plan was to test these areas for potential sinistral (left lateral) fault offset of the Eagle Zone to the SW and NE of the Eagle Zone. Drillng to the east and south of the previous known limit of the resource model for the Eagle Zone intersected the resource at depth and along strike confirming the potential to add gold resources to the deposit. A soil sampling program also tested the area along strike of the Eagle Zone to the Mar-Tungsten Zone approximately 2.5 km ENE of the Eagle Zone.

A total of 15 diamond drill holes (DDH) were completed on the Eagle Zone during the C$5 million 2008 program totaling totaling 4248.65 m. The 2008 DDH program at the Eagle Zone Deposit focused on defining additional gold resources to the east and southwest of the deposit and successfully extended mineralization along strike to the east and southwest. Wardrop Engineering Inc. completed an updated NI 43-101 Mineral Resource estimate on the Eagle Zone Deposit in January 2009 adding 37% to the Indicated Resource for a total of 2.69 million ounces of gold averaging 0.849 g/t gold. The new Mineral Resource estimate incorporates 13,057.65 m of drilling from 2006-2008 into the previously-stated resource estimate.

A new pre-feasibility study on Eagle to be conducted by Scott Wilson Roscoe Postle Assoc. is currently underway and is on track to be completed by year-end. Stantec (formerly “Jacques Whitford”) has also been retained to update and complete the environmental and socio-economic baseline studies to coincide with the delivery of the pre-feasibility.