News in case you missed it Sixty North Gold Board Approves 2022 Development Program for the Mon Gold Mine, Yellowknife Gold Belt, NWT
Vancouver, British Columbia--(Newsfile Corp. - November 25, 2021) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold"):
Sixty North Gold is pleased to announce that the Board of Directors met and has reviewed the results of the 2021 development program and have approved an expanded work planned for 2022. This includes:
- Expanding the underground development from 213 m AMSL to elevation 177 m AMSL to open up an expected 30,000 tonnes of vein below the previous stopes (that had produced 15,000 tonnes at 30 gpt from 15 vertical metres to elevation 225m AMSL).
- Initiate preliminary work to develop the next level below this to elevation 165m AMSL (another 45 m below the current development), targeting an additional 25,000 tonnes of vein.
- Acquisition of additional tankage for fuel needs for an extended season, as well as the acquisition of key mill equipment components to enable milling at 100 tpd.
- Commence planning and obtaining contracts to establish the winter road and haul in the necessary equipment and supplies to the property to continue operations.
Dave Webb reports, "We are pleased that we were able to accomplish our initial goals demonstrating that the high-grade vein extends below the historic stopes. Developing 30,000 tonnes of vein material will allow for feed to our mill when it is installed. Developing additional vein below this level will allow for a sustained production profile. Our metallurgical consultant is in the process of sourcing the five main components of our mill. A stretched supply chain and COVID restrictions negatively impacted operations, but the crews performed well and were invested in positive outcome for the project from the beginning. A total of 32 drill holes define the A-Zone below the historic stopes. These are historic in nature and range in grade from nil to 52.45 gpt over 2.7 m.
Webb states, "Although there is a risk that the vein material that has been encountered in the historic drill holes does not yield economically recoverable gold, we feel that the history of the Yellowknife Gold Belt demonstrates production grade can exceed that defined by drilling. We are also aware that all of the gold mines in the Yellowknife Gold Belt commenced production at rates under 250 tons per day; the Con, Negus, and Discovery Mines accounting for 7 million ounces of past production, all started at 100 tpd."
Dr. D.R. Webb is the QP within the meaning of NI 43-101 and has reviewed and approved the technical content of this release.