Sixty North Gold Mining Ltd. Discusses Upcoming Commencement of Mon Gold Project with The Stock Day Podcast
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Phoenix, Arizona--(Newsfile Corp. - May 17, 2021) - The Stock Day Podcast welcomed Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF)("the Company"), a company that is commencing the restart of the high-grade past producing Mon Mine, 40 kms north of Yellowknife, NWT, within the prolific Yellowknife Gold Camp. CEO of the Company, Dr. Dave Webb, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's decision to continue mining rather than drilling, which would define a 43-101 resource. "In order to bring something into a reserve, you need to have pretty tight space drilling," explained Dr. Webb. "We would need a $1.6 million drill budget, including the assays, geology, and etc, versus our ability to mine it for $1.4 million."
Dr. Webb then expanded on the developments of the Company's current projects. "We had the opportunity to drive our heavy equipment across the ice and bring it onto the property. So, our ice roads were installed," said Dr. Webb. "Everything that you need to do the mining we have sitting on the property and ready-to-go," he added. "As a prelude to doing that, we had to get the permits," continued Dr. Webb, adding that the process for obtaining a permit can be challenging in today's environment.
"100 tonnes per day seems small, why not start with a larger operation?", asked Jolly. Dr. Webb explained that with the Company's high-grade gold project, this can often refer to 100 ounces of gold per day. "Generally, for an average rich mine, something around 10 grams or a third of an ounce would be equivalent to 300 tonnes per day," said Dr. Webb. "It's not about the tonnes that you mine, it's about the ounces that you get."
"How many ounces do you think the project is sitting on?", asked Jolly. "Without a 43-101 we are limited in what we can say, but I think it is millions of ounces," shared Dr. Webb. "The reason for that is that we are in the Yellowknife Gold Belt," he added, noting that the area has been historically rich in gold concentrations. "We have gone down, with the past production on our property, a whopping 15 meters," said Dr. Webb. "That was 15,000 ounces that was produced. So, we're developing an additional 20 meters below that for a total of 35 meters below surface."
"Is there a potential for expansion that you see going forward?", asked Jolly. Dr. Webb elaborated on his background in the Yellowknife Gold Belt. "I've been studying these deposits now for almost half a century," shared Dr. Webb. "There's been an exceedingly low level of exploration in the camp given its production history," he continued, noting that deposits around the area of the Company's project represent similar potential. "It's understanding what it is you're looking for and what it looks like in an exploration program to help you develop it."
To close the interview, Dr. Webb expressed his confidence in the Company's Mon Gold project as they begin executing on their goals within the prolific Yellowknife Gold Camp.
To hear Dr. Dave Webb's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7866972-sixty-north-gold-mining-ltd-discusses-upcoming-commencement-of-mon-gold-project-with-the-stock-d.
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