Sixty North Gold Announces Discovery of Bulk-Minable Gold Mineralization on Hangstone Claims
14 minutes ago
Vancouver, British Columbia--(Newsfile Corp. - July 26, 2021) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold").
Sixty North Gold has identified a prospective bulk-minable gold target on its optioned Hangstone claims during initial field investigations this month. Crews in camp during startup of the Mon A-Zone underground mining examined targets identified by the Hangstone vendor at Narrow Lake. The newly discovered zone has significant similarities to the Clan Lake Zone located on the adjacent claims owned by GoldMining Inc.
The Narrow Lake Zone is a poorly-exposed trend of gold showings in gabbros near a mixed pelitic and felsic volcanic rock contact within Yellowknife Supergroup rocks. Irregular quartz veining and silicification of the altered gabbros include an exposure 24 m long by 14 m wide zone containing 5% quartz in narrow anastomosing networks with associated carbonate, arsenopyrite, pyrite, and galena. Sixty grab and chip samples over a 2,300 m strike length (open to the north) average 5.7 gpt gold and have 22 samples greater than 1 gpt ranging up to 210 gpt gold. Additional samples have been collected.
Dr. Dave Webb, who examined the Narrow Lake Zone states "the exposure at the north-end is very similar geologically to the exposure at Clan Lake where GoldMining Inc. reports 2.77 million tonnes grading 2.23 gpt gold containing 198,600 ounces of gold in an Inferred Mineral Resource (GoldMining Inc., 2019). The similarity is not unexpected as our claims are contiguous with the Clan Lake Property of GoldMining Inc. They also report 12.27 million tonnes of Measured and Indicated Mineral Resource grading 2.29 gpt gold containing 902,000 ounces and 2.8 million tonnes of Inferred Mineral Resource containing 271,000 ounces of gold in their similarly mineralized Ormsby Zone 34 km to the northeast. We anticipate more of these "Ormsby-style" gold deposits to be located in the Yellowknife Gold Belt and are pleased our prospecting crew has been so diligent." Dr. Webb and his team is credited with the discovery and development of both the Ormsby Zone and the Clan Lake Zone.