CORRECTION FROM SOURCE: Update on Sixty North Gold's Mon Property, Yellowknife, NWT
CORRECTION FROM SOURCE: Update on Sixty North Gold's Mon Property,
Yellowknife, NWT
This document updates the previously issued news release, dated October 3, 2023, to
include additional information regarding the Qualified Person.
V ANCOUVER, British Columbia -- (Newsfile Corp. – October 3, 2023) Sixty North Gold
Mining Ltd. (CSE: SXTY , FKT: 2F4, OTC-Pink: SXNTF) (the “Company” or “Sixty North
Gold”) provides an update on its wholly-owned Mon Property.
Planned underground mining ac/vi/es were not ini/ated this summer due to aggressive
wildfires in proximity to the Mon Mine site. Crews were on standby un /l late June when it
became apparent that wildfires were rapidly approaching the mine site. The ZF012-23 wildfire
swept through the property in August. Fortunately, all mining equipment, plus shops,
generators, compressors, fuel tanks and explosives magazines survived untouched however, the
camp and some ancillary pieces of equipment were damaged.
In September 2023 Dave Webb, CEO and an insurance adjuster visited the site to appraise the
damage, documen/ng items for replacement and matching these against our policy. We are
now preparing for a temporary camp to be installed to allow for a clean-up using our mine
truck, loaders and bulldozer, and to prepare the camp site for replacement units to come in. We
have examined and received proposals for five different camp alterna/ves and have provided
this informa/on to the insurance adjuster .
We are planning to use our temporary camp once the clean-up is complete for subsequent work
un/l a replacement camp is brought in. Planned work includes a diamond drill program tes/ng
our Volcanogenic Massive Sulphide (VMS) targets as discussed below.
Sixty North Gold has been developing its 100%-owned Mon Gold Property within the rich
Yellowknife Gold Camp, NWT . This high-grade past producer averaged an es/mated 30 gpt gold
and produced an es/mated 15,000 ounces of gold from a folded quartz vein from 15 ver/cal
meters. Other targets on the property include the Nelson Lake VMS zone. This includes eight
geophysical targets where outcropping stra/form sulphide mineraliza/on was iden/fied within
favourable intermediate to felsic volcanic flows, tuffs and affiliated epiclas/c rocks. A VTEMTM
plus (Versa/le Time Domain Electromagne/c) survey outlines these zones well, and four targets
have been further modeled by Mira Geosciences.
• North Target has disseminated, semi-massive and massive sulphides exposed on surface
and in trenches over 120 meters of strike length and up to 1.0 meters in width. Trenches
on this target grade up to 203 gpt silver, 1.0 gpt gold, 0.59% lead, and 0.96% zinc over
0.45 m (see NR October 17, 2019).
• East Target is a strong conductor 250 m long and up to 24 m thick, topping 80 m below
surface with a sequence of abundant quartz porphyry lavas, crystal and crystal-lithic
tuffs and hypabyssal intrusions. A subtle magne /c anomaly is associated with this
target.
•West Target is a strong conductor without any associated magne/c anomaly, 200m long
and up to 30 m thick located lower in the sequence within a mixed peli/c and felsic and
intermediate volcanic rocks.
•South Target is a very strong conductor 175 m long with a very strongly conduc /ve
segment 60 m long and up to 30 m thick with a local magne/c anomaly associated with
the unit. It is hosted within a sequence of mixed peli /c and felsic and intermediate
volcanic rocks at the contact with an underlying sequence of quartz porphyry lavas,
crystal, and crystal-lithic tuffs.
Drill permits are in place and work can commence afer the temporary camp is installed and
clean-up is completed.
Figure 1. Isometric image of the four principal VMS targets looking north showing conduc/vity
blocks on base map by Jackson V ., (1998).
Dr. D.R. Webb, Ph.D., P.Geol., P.Eng. is the Qualified Person for this release within the meaning
of NI 43-101 and has reviewed the technical content of this release and has approved its content.
About the Company
The Company is developing mining operations for gold on the Mon Gold Property, 40 km north
of Yellowknife, NWT. Past production extracted 15,000 tonnes of ore to depths of only 15 m
below surface, recovering an estimated 15,000 ounces of gold. The North Ramp has been
reopened and has been extended to within 60 m of the target portion of the vein. The Company
plans to extend the ramp to where some high-grade historic holes intersected the vein beneath the
previously mined stopes. The plan is to install cross-cuts and raises within the vein to extract
and stockpile the vein material on surface. Upon confirmation of the grade and tonnage, a
permitted mill will be brought in to process this and ongoing mined material.
The property also hosts an outcropping precious-metals rich VMS showing and has four modeled
geophysical targets along strike within felsic tuffs, lithic and lapilli tuffs. These are currently
being planned for drilling.
The Mon Gold Property mining leases and mineral claims are located 45 km north of the City of
Yellowknife, NWT.
For more information, please refer to the Company ’s public filings available on SEDAR
(www.sedar.com), under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
“Dave Webb”
Dave Webb, President & CEO
For further information, please contact:
Dave Webb
Tel.: 604 818-1400
Email: [email protected]
Website: www.sixtynorthgold.com
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.sedar.com),
under the Company’s profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED
THE CONTENT OF THIS PRESS RELEASE.