Sixty North Gold Trenches 203 gpt Silver, 1.0 gpt Gold over 0.45 m in VMS Zone
Vancouver, British Columbia--(Newsfile Corp. - October 17, 2019) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") is pleased to announce that it has received initial trench results from its fall trenching program on the Mon Gold Property, 40 km north of Yellowknife, NWT. The Company discovered six volcanogenic massive sulphide (VMS) targets in 2018 by follow-up prospecting of biogeochemical anomalies. An airborne geophysical survey in 2019 confirmed conductive and magnetic anomalies identifying potential VMS targets, some coincident with the sampled zones.
The Company trenched the best exposed target, hosted within mixed mafic and felsic volcanic rocks of the Archean Yellowknife Supergroup. Six 0.5 to 1.0 m deep trenches were blasted into the rocks exposing massive, semi-massive and heavily disseminated sulphides dominated by pyrrhotite, tetrahedrite, sphalerite, galena and pyrite in altered tuffs for 120 metres of strike. The zone is open to the north and to the south.
Table 1. Analytical results from September 2019 trenching program on the 5656 VMS Zone on Sixty North Gold mining Ltd.'s Mon Gold Project.
|Trench||Width (m)||Ag (gpt)||Au (gpt)||Cu %||Pb %||Zn %|
True widths of composite chip samples are reported. Analytical results are from Bureau Veritas International Laboratories (BVI) from their Vancouver Laboratory using AQ270 and FA530 analyses of sampled prepared using PRP70-250. Certified standards and blanks were inserted approximately every 10 samples and all returned acceptable results. BVI is an ISO9002 certified laboratory and is independent of the Company. (Ld = less than detection)
All base and precious metal grades appear to be improving towards the south with the southern-most trench (TrA) returning the best grades before exposure is lost.
Dr. Webb reports, "We have confirmed the style and nature of the mineralization, and confirmed that economically encouraging grades exist. We now need to assess the vector we have identified, and test these and some of the other geophysical anomalies. The stratabound mineralization is hosted within mafic to intermediate volcanic rocks with significant localized silicification and carbonate alteration. Minor felsic units occur proximal to some zones. Stronger isolated conductors, many with coincident magnetic responses, occur in areas that cannot be trenched. One of the strongest anomalies is projected to be within felsic tuffs beneath a shallow lake along strike of geochemical anomalies. Sixty North has now demonstrated the existence of VMS mineralization at economically interesting grades. The trenched VMS horizon is revealing a vector to better grades and the existence of additional targets is promising. The potential expansion of these and other zones requires diamond drilling. VMS deposits often occur in clusters of sedimentary or near sedimentary deposits formed at or near the ocean floor and generally thin as they become more distant from the source or vent area. In addition they are often zoned from copper and gold enriched near the vent to lead and zinc enriched farther away."
Dr. D.R. Webb, Ph.D., P.Geol., P.Eng. is the Qualified Person for this release within the meaning of NI 43-101 and has reviewed the technical content of this release and has approved its content.
About the Company
The Company is engaged in acquisition, exploration and development of mineral properties. Its principal target is the exploration for gold on the Mon Gold Property, 40 km north of Yellowknife, NWT. The Mon Gold Property consists of 11 contiguous mining leases and 3 mineral claims, comprising an aggregate 1,536.92 acres, located in the South MacKenzie Mining District, NWT. For more information, please refer to the Company's Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman, CFO and Director
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Further details about the risks applicable to the Company are contained in the Company's Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company's profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
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