Dublin Gulch (Eagle) (Au)

Dublin Gulch

LOCATION: Yukon, Canada
OPERATOR: Victoria Gold Corp.
ROYALTY: NSR: 1-1.5%

Franco-Nevada has a 1% NSR on the Eagle Gold mine which is owned and operated by Victoria Gold Corp. (“Victoria Gold”).

The Eagle deposit is part of the larger Dublin Gulch claim block and is located in central Yukon. In addition, Franco-Nevada has a 1.5% NSR on the Lynx properties (part of the Dublin Gulch claim) which is subject to a C$15,000 annual advance royalty payment and is capped at C$1,500,000. In July 2020 the Eagle Gold mine achieved commercial production and in 2020 produced 116,644 ounces of gold. Gold production for 2021 is estimated to be between 180,000 and 200,000 ounces as the mine continues to ramp up.

Victoria Gold’s December 2019 feasibility study for the Eagle Gold mine envisioned average yearly production of 210,000 ounces over a 12-year mine life versus the previous feasibility study released in September 2016 which envisioned average yearly production of 190,000 ounces over a 10-year mine life.

Franco-Nevada’s royalty is estimated to cover the entire Eagle deposit which contains Mineral Reserves of 3.06 million ounces (148 million tonnes grading 0.64 g/t) and a small portion of the smaller satellite Olive Zone which contains Mineral Reserves of 0.2 million ounces (7 million tonnes grading 0.95 g/t). In 2021, Victoria Gold will continue to explore the broader land package targeting Eagle Deep, Lynx, and Olive-Shamrock (on or partially on royalty ground) as well as Nugget-Raven and Falcon (not on royalty ground).


  • Commercial production in July 2020
  • Planned 2021 production of 180,000 to 200,000 ounces as ramp-up continues

2020 2019 2018
Revenue to Franco-Nevada ($ million) $ 1.9 $ 0.4 $ –

Dublin Gulch map