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Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold")
Winter Road Construction Commences
Sixty North Gold is pleased to announce that construction of the winter road to the Mon Property has commenced. The southern portion of the road to Bluefish Lake owned and operated by the Northwest Territories Power Corporation is 19.5 km long and is a portion of our overall 45 km road.
Dave Webb, President and CEO, states, "Installation of the winter road is a critical milestone for the Company as it will be used to haul all of the heavy supplies and equipment to the property so mining can commence this spring. The Company intends to execute on its plan to bulk sample deeper mineralization in the A-Zone, 20 m below the stopes that had been mined in the past. Responsible mining is an important focus for the Northwest Territories, and has been designated an essential service. The government has instituted important initiatives to support the mining sector, including direct grants for approved exploration programs. The multi-million dollar underground program commencing on the Mon Property will hopefully lead to further development. Only Yellowknife-based suppliers and contractors will be used to install and maintain the road."
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 commencing restarting the high-grade past producing Mon Mine, 40 kms north of Yellowknife, NWT, within the prolific Yellowknife Gold Camp. Crews will be mobilized to the property after all of the equipment has been placed on the property. Extending an existing ramp an additional 200 m will provide access to the A-Zone, 20 m below the previous stopes. 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 and 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 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.
For more information, please refer to the Company's profile on SEDAR (www.sedar.com) or visit the Company's website at www.sixtynorthgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "David Webb"
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/73119