Vancouver, British Columbia--(Newsfile Corp. - December 19, 2024) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold")
Sixty North Gold Mining Ltd. is planning to drill test a number of targets on its wholly-owned Mon Gold Property commencing this winter.
Drill Target One - Mon Gold Mine
The DD-Zone is a 2 m wide newly discovered vein system immediately adjacent to the past producing A-Zone. The DD-Zone was encountered during mining activities but is not well understood. A short, six-hole surface drilling program has been planned to test the zone up dip and along strike of the 17 m underground exposure that had 37.5 gpt gold from a muck sample collected during mining, and chip samples ranging from nil to 62.6 gpt gold across 30 cm. This will provide necessary information to develop raises and stoping areas in the vein.
Drill Target Two - VMS
This drill program will focus on four separate volcanogenic massive sulphide (VMS) targets at the top of a thick mafic volcanic sequence where volcanism gives way to felsic and intermediate tuffs and pelites. The smallest and weakest geophysical target coincides with a mixed pelite and felsic to intermediate volcanic horizon that contains narrow massive to semi-massive sulphide intervals including 45 cm of 203 gpt silver, 1.0 gpt gold, 0.56% lead and 0.96% zinc and elevated cobalt and antimony. A recent high-resolution magnetic and electromagnetic geophysic survey (VTEMplus©) has traced these horizons to covered areas where the host units thicken to 180 m wide. Up to five strong to very strong conductors have been independently modeled with lengths of 45 to 180 m and 16 to 36 m in thickness. Three targets have associated but offset magnetic anomalies associated with them.
Dr. Webb, president, CEO of the company reports "It is important to continue development of the Mon Gold Mine, and to add to the mineralization we can immediately start mining. The DD-Zone is a new discovery within our current mine that needs to be refined to allow for better development plans to be made.
"The VMS targets are very exciting and well defined. The Hacket River VMS deposits, within the Yellowknife Supracrustal rocks, are among the largest in the world with close to 100 million tonnes of reserves and resources grading better than 136 gpt silver, more than 4.46% zinc with appreciable copper, lead and gold (Ragsdale, R., 2013) reported as a historic figure, not NI 43-101 compliant and should not be relied upon. The Sunrise Lake deposit, 100 km to the east is another silver-rich deposit with historic indicated resources of 1.52 Mt at 5.99% Zn, 2.39%Pb, 0.08% Cu, 262 g/t Ag, and 0.67 g/t Au (MacMillan, E.J. et al., 2020), reported as a historic figure, not NI 43-101 compliant and should not be relied upon. We expect our targets have the potential to be similar in size and grade as other known deposits."
Dave Webb Ph.D., P.Geol., P.Eng. is Qualified Person for the purposes of this release and has reviewed and approved its technical content."
About the Company
The Company is developing mining operations for gold on its 100%-owned Mon Gold Property, 40 km north of Yellowknife, NWT. Past production of the A Zone extracted 15,000 tonnes at 30 gpt gold from this vein (Company Technical Report, August 3, 2023, on SEDAR or https://sixtynorthgold.com/projects/technical-report/. The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery 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 Min and Giant Mine) (ref. Sixty North Gold NI 43-101, August, 2023).
Other targets on the property include silver and gold-rich volcanogenic massive sulphide (VMS) targets, as well as shear zone-hosted gold mineralization.
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
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.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234422
