Sixty North Gold Announces Contract to Build Winter Road to Mon Gold Property and Haul Mining Equipment and Supplies to Site
Vancouver, British Columbia--(Newsfile Corp. - January 6, 2021) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") Sixty North Gold is pleased to announce that it has engaged CJ Contracting out of Yellowknife to build and maintain our winter road to the Mon Gold Property. In addition, CJ will haul and place our camp, fuel tanks, explosives magazines, mining equipment and support equipment and supplies.
Construction is expected to start this month with full access available by mid- to late-February. The Company plans to have mining crews start preparation for mining in late spring, and to commence underground activities before the end of June 2021. The plan is to drive a ramp to 20 m below the two stopes on the property that were in production in the 1990's. The vein has been intersected here with a number of historical holes, including;
|Drill hole||Gpt gold||Width (m)|
With the exception of NDM-3, which was drilled by the Company in 2016, these are all historic holes without any QA/QC program or assay certificates and so must be reported for reference purposes only.
The Mon Mine was originally staked by Cominco within a few months of the discovery of the Con Mine in Yellowknife in 1937 (past production 6 million ounces of gold), and was held continuously since then. The recognition by Cominco of the similarities of the Mon Deposit to the Discovery Mine 1949-1969 (past production 1 million ounces of gold) led to renewed activity on the Mon property. In 1988, a newly applied structural solution found the down-dip extension of the high-grade portion of the deposit and 15,000 tonnes of ore estimated to grade 30 gpt gold was extracted from two 15 m high stopes. Sixty North Gold plans to mine below these stopes where historic diamond drilling has encountered similar grade material over similar widths. The depth of the Giant Yellowknife Mine (~900m), the Discovery Mine (~1,200m) and the Con Mine (~1,900m) leads the Company to be optimistic for the potential of the Mon Mine to extend below the 15m depth of the old stopes and >60m of depths below the old stopes have been drilled.
Dr. D.R. Webb, Ph.D., P.Geol., P.Eng. is the Qualified Person within the meaning of NI 43-101 and is responsible for the technical details of this release.
About the Company
Sixty North Gold Mining Ltd. is focused on restarting the high-grade past producing Mon Mine, 40 km north of Yellowknife, NWT, within the prolific Yellowknife Gold Camp. The Mon Gold Property consists of 11 contiguous mining leases and 3 mineral claims, comprising an aggregate 622 hectares, located in the South Mackenzie Mining District, NWT. The Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989-1997. Permits to explore, mine and mill at 100 tpd are in place, and the Mon is the only gold project permitted for production in the NWT. Other targets on the property include recently discovered silver- and gold-rich volcanogenic massive sulphide (VMS) targets as well as the giant shear zone-hosted gold mineralization. The shear zones are similar in nature to, and hosted in the same rocks as, the world-class deposits at the Con and Giant Mines in Yellowknife which produced 14 million oz. gold.
The company also has an option agreement to acquire a 100% interest in the highly prospective contiguous 2,394 hectare Hangstone Property adjoining the Mon Property to the East and South. The Mon Property shear zone and VMS targets can be projected onto the Hangstone Property.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "David Webb"
President & Chief Executive Officer
For further information, please contact David Webb 604-818-1400
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71455