Vancouver, British Columbia--(Newsfile Corp. - March 17, 2021) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold")
Further to the Company's press release on March 8, 2021, Sixty North Gold is pleased to report that a total of just over 500 tonnes of mining and support equipment and supplies have successfully been transported to the property over the past four weeks. This was completed on a 45 km winter road constructed from Highway #4 to the mine site, on time and on budget with a five-man crew working carefully with Yellowknife-based suppliers and contractors.
Mine activity is planned to start late spring to early summer, and will see the installation of water, air, electrical, and waste infrastructure. The existing North Ramp is planned to be reopened and extended to access between 30,000 to 40,000 tonnes of vein material beneath the historic stopes. A permitted mill is planned to be installed to process the bulk sample in 2022.
John Campbell, Chairman states, "We've liked the idea of generating revenue from high-grade operations. We've acquired the right to earn a 100% interest in a project that keeps derisking operations going forward. Obtaining permits to mine and mill was an important milestone. Getting good quality heavy equipment to Yellowknife was an important milestone and now, placing that equipment on site with all of the bulk supplies moves the operations closer to reality. Keeping to the budgets as developed over the years along the way is crucial in demonstrating our ability to forecast and execute each step."
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
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 from an independent prospector. The Mon Property shear zone and VMS targets can be projected onto the Hangstone Property.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "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.