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Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold")
Winter Road reaches the Mon Property
Sixty North Gold is pleased to announce that construction of the winter road to the Mon Property has made its first pass onto the mine site. The plan is for the ice to thicken and the portages to be groomed in preparation for the equipment and supply haul. The next week's forecast for high temperatures of minus 22o to minus 34o C and low temperatures to minus 40o will allow for the ice to thicken and the portages to harden.
Dave Webb, President and CEO states, "Installation of the winter road is progressing as planned and will be used to haul all of the heavy supplies and equipment to the property so mining can commence this spring. The Company is completing additional regulatory filings to allow operations to begin as scheduled. Petroleum storage and quarry permits have recently been received. Crews are being mobilized under the Northwest Territories' COVID-19 requirements, including mandatory 14-day self-isolation. We acknowledge that while the current operating environment is less than ideal, we must protect the communities we work in and will take every step required to work safely."
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 the restart of 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. Initially we plan to extend the existing ramp an additional 200 m to provide access to the A-Zone 20 m below the previous stopes. This will allow access to 20,000 to 40,000 tonnes of the A-Zone vein below the historic 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 and 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/73412