The Conversation (0)
Sixty North Gold Mining Ltd. (CSE: SXTY,OTC:SXNTF) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") is pleased to provide an update on its plan to commence gold production this year on its wholly-owned Mon Gold Mine, Yellowknife, NWT.
All of our equipment has successfully been mobilized to the Mon Gold Mine site north of Yellowknife by winter road, as planned. We are within our budgeted expenditures to date, had no lost time accidents or environmental incidents. Importantly, all of the residual material from our burned camp, spent batteries and miscellaneous garbage has been removed from site and disposed of at authorized facilities in Yellowknife. We appreciate the efforts of our contractors and subcontractors during this significant event.
Ball mill heading to Mon Gold Mine from Yellowknife
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5873/290907_c184c8008435ab32_001full.jpg
Dave Webb, President & CEO reports "Mobilizing all supplies to site allows Sixty North Gold to move the Mon Gold Mine towards production again. Regulatory reporting continues to be a significant component of our efforts as we prepare to commence mill construction and start operations at the permitted 100 tpd design rate, planned to commence this summer. We expect to be extracting gold-bearing vein material from four stopes developed on the second level below the historic stopes that produced at an average gold grade of 30 gpt. Continued development to depth is planned.
Preparing the blast for the mill foundation
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5873/290907_c184c8008435ab32_002full.jpg
About the Company
Sixty North Gold is developing mining operations for gold on its 100-per-cent-owned Mon Gold Project. Mining in the 1990's extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold (Company Technical Report NI 43-101, August 3, 2023 on SEDAR+ or https://sixtynorthgold.com/projects/technical-report/). Recently, underground development has intersected the productive A-Zone 17 m below the historic stopes. A newly discovered zone, the DD-Zone is exposed in the main ramp. The company plans to develop and mine stopes in the East Limb, West Limb and DD Zone and to extend the ramp to allow for the development of deeper levels.
The silver-rich VMS deposits (https://sixtynorthgold.com/projects/volcanogenic-massive-sulphide-vms-deposits/), the large shear zone-hosted gold targets (https://sixtynorthgold.com/projects/shear-zones/), and the critical-element-enriched IOCG-style mineralization (https://sixtynorthgold.com/projects/iocg-target/) will be explored and developed as warranted.
The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery Mine with one million ounces of gold produced, 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 Mine and Giant Mine); (ref. Company Technical Report NI 43-101, August 3, 2023). The Yellowknife Gold Belt is an historic gold producing camp where all of the mines commenced production at <100 tpd. Yellowknife has the people, services and experience to bring this Archean gold belt back to life.
The technical content of this release has been reviewed and approved by Dr. D.R. Webb, P.Geol, P.Eng., President and CEO of Sixty North Gold Mines Ltd.
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.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NORÂ
DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290907
