Sixty North Gold Board Approves 2022 Development Program For the Mon Gold Mine, Yellowknife Gold Belt, NWT
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; FKT: 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:
1. 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).
2. 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.
3. 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.
4. 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 Yel lowknife 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.
About the Company
The Company is focused on bringing its Mon Mine back into production. The Mon Mine produced 15,000
ounces of gold from 15,000 tonnes of ore between 1989 and 1997, operating on a seasonal basis to a
depth of 15 m below surface, with gold prices generally averaging between US$350 and US$400 per
ounce. Permits to mine and mill at 100 tpd are in place, making the Mon Mine the only gold project
permitted for production in the NWT. The Company is currently working to develop the second level
below the historic stopes to commence mining. Management believes the similarity to the Discovery
Mine, located to the north of the Mon Property where 1 million ounces were mined from 1 million tons
of ore, indicates the potential for the Mon Mine.
Other targets on the property include recently discov ered silver - and gold -rich volcanogenic massive
sulphide (VMS) targets (NR October 17, 2019), as well as shear zone-hosted gold mineralization. The shear
zones are similar in nature to, and hosted in the same rocks as, the world -class deposits at the Con and
Giant Mines in Yellowknife which produced 14 million oz. gold.
The Company also has an option agreement to acquire a 100% interest in the highly prospective and
contiguous 2,394 hectare Hangstone Property adjoining the Mon Property to the East and South from an
independent prospector. The Mon Property shear zone and VMS targets can be projected onto the
Hangstone Property.
The Company cautions that there is not now, nor has there been any Mineral Resources or Reserves on
the Mon Property. Past operators mined a gold-bearing quartz vein system that contained economically
recoverable gold.
For more information, please refer to the Company’s profile on SEDAR (www.sedar.com) or visit the
Company’s website at www.sixtynorthgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “David Webb”
David Webb,
President & Chief Executive Officer
For further information, please contact David Webb 604-818-1400
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 Prospectus dated January 19,
2018 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.