Vancouver, British Columbia--(Newsfile Corp. - June 4, 2024) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold")
Sixty North Gold is pleased to announce that it has successfully moved crews to the Mon Gold Mine Property and has commenced installing a temporary camp and dock facilities. The Yellowknife area is experiencing extremely low water levels, challenging many shore-based facilities. The Company plans to bring mining crews to the property next week and full mining operations will commence shortly thereafter.
Mon Gold Mine Isometric View
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The Company plans to extend the existing North Ramp some 60 m to intercept the A-Zone vein 20 m below the historic stopes (see attached graphic). Historically, the vein has produced at 30 gpt gold grades and 1,000 ounces of gold for every vertical meter mined. Historic diamond drilling and limited diamond drilling reported by the Company show that the vein continues to be mineralized over minable widths at the target level (August 2023 NI 43-101 report, SEDAR+, https://sixtynorthgold.com/site/assets/files/3617/2023-08-mon-gold-tech-report.pdf).
Dr. Dave Webb, Ph.D., P.Eng., P.Geol., President & CEO, Director reports, "The Company's board and management are excited to be mining again. We have assembled an outstanding group of miners, camp operators and suppliers who have worked diligently to bring this project forward. Our Mon Gold Mine holds all licenses and permits needed to commence full mining and milling operations. We plan to open up stopes and to bring enough mineralization to surface to confirm the grade and tonnage potential of this project. A 100 tpd mill has been sourced and we plan to acquire it and install it onto the property to commence recovery of gold as quickly as possible."
Sixty North Gold plans to develop stopes (mining zones) during this phase of mining, and the extracted mineralized material will be stockpiled on surface, with assays reported as they are received. Visible gold is historically abundant in the vein and as viewed today, and panned drill-cuttings have been used as a guide to assess the tenor of mineralization during operations. The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery and Sixty North Gold's Mon Mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con Min and Giant Mine) (ref. Sixty North Gold NI 43-101, August, 2023).
Sixty North Gold further announces that all resolutions were passed at its Annual General Meeting held on May 27th.
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
The Company is developing mining operations for gold on its 100%-owned Mon Gold Property, 40 km north of Yellowknife, NWT. Past production extracted 15,000 tonnes of ore to depths of only 15 m below surface, recovering an estimated 15,000 ounces of gold in the 1990's (NI 43-101, August 2023).
For more information, please refer to the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dave Webb"
Dave Webb, President & CEO
For further information, please contact:
Dave Webb
Tel.: 604 818-1400
Email: dave@drwgcl.com
Website: www.sixtynorthgold.com
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 public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211527
SOURCE: Sixty North Gold Mining Ltd.
