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Dublin Gulch (Eagle) (Au)

Dublin Gulch

LOCATION: Yukon, Canada
OPERATOR: Victoria Gold Corp.
ROYALTY: NSR: 1.5-2%

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 September 2019, Victoria Gold completed its first gold pour from the Eagle Gold mine and expects to achieve commercial production in Q2 2020.

Victoria Gold released an updated feasibility study for the Eagle Gold mine in December 2019. The study envisions 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).


  • First gold pour achieved in September 2019
  • Feasibility study update improved average annual production and mine life, increasing Mineral Reserves by 20%
  • Commercial production expected in Q2 2020

2019 2018 2017
Revenue to Franco-Nevada ($ million) $ 0.4 $ – $ –

Dublin Gulch map