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Sixty North Gold Mining Ltd. (CSE: SXTY) (OTC Pink: SXNTF) (FSE: 2F4) (the "Company" or "Sixty North Gold") Sixty North Gold is pleased to announce that it has received preliminary results on a review of our 2019 VTEM Plus © airborne survey from Mira Geoscience. Dave Webb states "It is very exciting to have identified four distinct drill targets on the property. Mira Geoscience has the tools and experience to help us focus on bigger and better geophysical targets within favourable rocks that have been shown in places to host economically significant grades. Our proximity to power and transportation makes these viable exploration targets and the company is currently permitted to drill test these."
Trenching had identified a 240 m long zone of massive and disseminated sulphides that returned trench assays including 0.45m of 203 gpt silver, 1.0 gpt gold, 0.59% lead and 0.96% zinc and 1.0 m of 82 gpt silver, 1.2 gpt gold, 0.26% lead and 0.02% zinc (see NR October 17, 2019) from volcanogenic massive sulphides ("VMS"). The geophysical survey was designed to identify the extent and potential of our newly discovered gold and silver-rich VMS deposit, particularly in areas covered by swamps or lakes.
Mira's review is ongoing, however preliminary results have focused on three distinct areas, each area covering potential VMS mineralization. None of the targets are exposed. The conductors are all conformable to semi-conformable conductors within favourable stratigraphy, two of which are associated with magnetic anomalies. There are very encouraging lithogeochemical and/or biogeochemical anomalies proximal to these targets.
The 5757 Target is a newly recognized target. It is a relatively strong 45 m long conductor with a steep westward dip, parallel to the enclosing felsic to intermediate volcanic rocks. It extends to depth and is associated with a 250 m by 200 m magnetic low, elongated in the strike direction in the footwall rocks. This localized magnetic low is believed to represent a magnetite-destructive hydrothermal alteration zone. Strong Cu, Pb, Zn, Ag, and Hg lithogeochemical anomalies occur within 200 m.
The 6247 Target occurs 1 km to the south of 5757 within the same felsic to intermediate volcanic rocks. It is a local conductivity high within a 1,000 m long trend of conductors which seems to define the boundary between two types of volcanic units. The conductor dips steeply east and is conformable to the contact in this area and is not associated with any discrete magnetic anomalies. Biogeochemical samples in this area are elevated in Hg, Sb, As, and Cu and rocks samples near this anomaly have anomalous Cu, Zn, and Ag.
The 6548 Target occurs approximately 300 m east of 6247 within quartz feldspar porphyry and crystal and crystal-lithic tuffs. It is a conductivity high in a 900 m long trend of conductors aligned with a lithological contact. The conductor is modeled to be about 80m below the surface in an area mapped as a swamp. It appears as an extensive strong conductor aligned with strike dipping steeply to the east. A compact and very subtle magnetic high, measuring about 100 m by 50 m, is associated with the conductor, offset slightly in the dip direction.
The 5750 Target sits about 30m below a lake surface and is a relatively strong EM conductor approximately 175 m long within mixed pelitic and intermediate tuffs stratigraphically on top of felsic tuffs. It dips to the west associated with a low magnetic signature. A stronger conductive portion is associated with a local magnetic high 200 m in strike length but with the magnetic high centered slightly south of the conductor. The anomaly is believed to represent an exhalative setting with disseminated and concentrated sulphides. Elevated Ag, Pb, and Cu occur in rocks 300 m away along strike.
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 Sixty North Gold
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. Other targets on the property include recently discovered silver- and gold-rich VMS targets as well as the giant shear zone-hosted gold mineralization. Permits to explore, mine and mill are in place and are subject to ongoing renewals. 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 profile on SEDAR (www.sedar.com) or visit the Company's website at www.sixtynorthgold.com.
About Mira Geoscience
Mira Geoscience stands for technology and solutions for the best geoscience-based business decisions. Since 1999, Mira has pioneered the application of advanced geological modelling, 3D-GIS technology, and 4D multi-disciplinary data management in the mining industry through the integrated "Common Earth Model". Mira supplies the mining industry with practical and cost-effective multi-disciplinary 3D and 4D modelling and data management solutions for mineral exploration and geotechnical hazard assessment. Mira believes in the power of knowledge, data, and technology integration to address clients' geoscience-based challenges. An approach based on the strength of committed commercial, technology, and R&D partnerships. Mira's team deploys best-in-class technology for the integrated interpretation of geological, geophysical, geochemical, and geotechnical data.
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/65849