Vancouver, British Columbia--(Newsfile Corp. - October 16, 2024) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold")
Sixty North Gold Mining Ltd. has received the second batch of assays from the recently developed A-Zone East Limb at its 100% owned Mon Gold Mine, Yellowknife Gold Belt, NWT Canada. The Company now has chip assays from this year's program ranging from 62 gpt over 0.3 m to <0.05 gpt over 1 m, characteristic of nuggety deposits like the A Zone.
This year the Company continued mining, reopened the Main Ramp to elevation 211 m AMSL, and completed a cross cut at 212 m AMSL exposing the East and West Limbs of the A-Zone 9 and 16.5 m below the historic East and West Stopes. A new vein, the DD-Zone, was encountered in the Main Ramp 45 m below surface. Approximately 250 tonnes of development muck from the east limb of the A-Zone have been stockpiled.
In 2024 a temporary 17-man tent camp with kitchen and dining, and wash facilities on the property was installed, replacing the trailer camp that had been lost to the wildfires in 2023. The burned camp was cleaned up, salvageable materials were separated and the waste material was consolidated for removal. Two geotechnical holes were drilled and thermistors were installed. Water samples were collected in compliance with our operating permits.
Sixty North Gold mined a total of 44 days of mining in 2024 with two shifts per day for the initial 27 days. In the last 12 days of operations, a single crew advanced the 970XCE to the East Limb of the A-Zone a total of 27 m, bolting and hanging services, moving an estimated 55 tonnes per shift. There were no lost time accidents during operations in 2024.
Dr. Dave Webb, Ph.D., P.Eng., P.Geol., President & CEO, Director stated "We accomplished all of our goals in 2024, exposing rich gold-bearing veins above our sill elevation. Mining and camp operations have been suspended for the season. A bulk sample of the A-Zone allows for immediate extraction of the vein. Previous operations extracted 1,000 tonnes of ore per vertical meter grading 30 gpt from the A-Zone, to a depth of 15 metres below surface totaling 15,000 tonnes (Webb, 2023). Our costs came in as budgeted with direct development costs, including camp operation and flights, coming in at $140 per tonne mined or around $3,500 per metre advanced.
"The DD Zone returned an average grade of 17.24 gpt from seven samples, ranging up to 62.6 gpt gold/0.3 m. It is exposed over 17 m in the Main Ramp, where it averages 2.0 m in width. The DD-Zone was not mined historically.
"The West Limb of the A-Zone is exposed 16.5 m below the historic West Stope that produced 12,000 tonnes grading an estimated 30 gpt. The East Limb of the A-Zone is exposed 9 m below the historic East Stope that produced 2,085 tonnes grading an estimated 25.6 gpt returned lower than expected grades at 3.56 gpt from the 1 m wide exposure of the vein on the north-side of the 970XCE. This is not unexpected.
"The successful completion of this phase supports the company's planned acquisition and installation of the permitted 100 tpd mill and relevant infrastructure to restart processing on site."
Samples were collected by D.R. Webb and delivered to Bureau Veritas Laboratories (BVI). All assays were completed by BVI, an independent certified laboratory using PRP70-250 preparation and fire assay (FA530-Au) analytical techniques. Check assays by metallic screening techniques (FA450) confirmed the analysis. One Certified Reference Standard was submitted in the sample stream and returned acceptable results.
Dr. D.R. Webb, PhD., P.Geol., P.Eng is the Qualified Person and is responsible for the technical details in this release.
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).
For more information, please refer to the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
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.
