Sixty North Gold Mining Ltd. (CSE:SXTY,OTC Pink:SXNTF,FWB:2F4) is a junior gold development company focused on bringing the past-producing Mon gold project back into production. The Mon project is located 45 kilometers north of Yellowknife, Northwest Territories and 20 kilometers north of the Bluefish hydro-electric plant. The Mon project’s proximity to Yellowknife provides the company with quick and easy access to personnel, food and materials.
Between 1990 and 1997, the mine was in operation and is estimated to have produced 15,000 ounces of gold grading 30 g/t gold. The mine was closed in 1997 due to low gold prices. The mining permits for the property were reissued in 2014, ensuring that the property can quickly be put into production again now that gold prices are on the rise. Sixty North Gold believes that it can do this with little capital investment.
While the gold markets were down, Sixty North Gold conducted additional exploration on the property to find other mineralization. This led to the discovery of a new, high-grade gold-silver massive sulfide horizon, known as the Nelson Lake deposit. To date, the company has identified six zones of significant base metal concentrations and has identified seven drill targets along the Nelson Lake deposit for further exploration. Sixty North Gold also plans to undertake a bulk sampling program from the past-producing A zone once the mill and dry stack tailings facility is installed on the property.
Sixty North Gold’s Company Highlights
- Sixty North Gold is operating in the mining-friendly Northwest Territory in Canada.
- Past production grades of one ounce per ton and recent bulk samples in excess of two ounces of gold per ton.
- The Mon gold project is easily accessible by air and winter road from Yellowknife, which is located 45 kilometers to the south.
- The Mon gold project has operating permits for mining at 100 tonnes per day.
- The Mon property is the only permitted gold project in the Northwest Territories.