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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.
Sixty North Gold has been informed that construction of the southern half of our winter road has commenced from Highway 4, 20 km east of Yellowknife, northwards across Prosperous Lake for a total extent of approximately 15 km. The balance of the road to the Mon Gold Mine site (approximately 30 km farther north) will be installed and managed by Matrix (https://matrixco.ca/) commencing next month. A total of 19 truckloads of supplies including the 100 tpd mill will be hauled to site in February and March.
Matrix was founded in Yellowknife and has over 25 years of experience running projects in some of the world's most remote and challenging environments (as well as some projects closer to home). With a focus on mining and construction, Matrix provides world-class camps, personnel, logistics, project management, and mechanical services. Matrix is committed to providing safe, reliable, and cost-effective solutions making them the ideal partner on the Sixty North Mon Gold project.
The Company plans to commence assembly of the mill in late April with initial commissioning of the mill in June and July. We plan to operate this 100 tpd mill 24/7, treating material extracted from the second level of the A-Zone vein below the historic stopes. The DD-Zone will be evaluated for potential stope development, and the Company plans to extend the main ramp to the third level.
Dave Webb comments, "We are very pleased with progress this winter. The installation of the winter road is an important part of our operations. Cold weather with limited snow is creating thick ice, enabling faster and stronger roads to be constructed. Our plans are to get the mill operating as expeditiously as possible."
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 in the 1990s (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 as well as a newly identified zone, the DD-Zone 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 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 NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280446
