- Sixty North Gold (SXTY) has identified a new prospective bulk-minable gold target
- The target is at the junior resource development company’s optioned Hangstone Claims
- The Hangstone Claims are located in the Northwest Territories, adjacent to the company’s Mon Mine Property
- The discovery was made earlier this month during initial field investigations
- Sixty North Gold is up 7.14 per cent, trading at $0.075 at 1:16 pm ET
Sixty North Gold (SXTY) has identified a new prospective bulk-minable gold target.
The target is at the Vancouver-based junior resource development company’s optioned Hangstone Claims.
The discovery was made earlier this month during initial field investigations.
The newly discovered zone has significant similarities to the Clan Lake Zone located on the adjacent claims owned by GoldMining Inc.
The Hangstone Claims are located in the Northwest Territories.
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.
“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,” said Dr. Dave Webb, who examined the Narrow Lake Zone.
Webb and his team are credited with the discovery and development of both the Ormsby Zone and the Clan Lake Zone.
Sixty North Gold has an option agreement to acquire a 100-per-cent interest in the highly prospective and contiguous 2,394 hectare Hangstone Property adjoining the company’s 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.
Sixty North Gold is up 7.14 per cent, trading at $0.075 at 1:16 pm ET.
