- The board of directors at Sixty North Gold (SXTY) has reviewed 2021 development results and approved an expanded program for 2022
- The company has been working on advancing the Mon Mine back into production
- The expanded work program will develop the next level of the mine and acquire the materials needed for long-term development work at the property
- Sixty North Gold Mining is engaged in the acquisition and exploration of mineral property assets
- Shares in Sixty North Gold Mining Ltd. (SXTY) are steady, trading at $0.05 per share
The Sixty North Gold (SXTY) board has reviewed 2021 development results and approved an expanded program for 2022.
The company has been working on advancing the Mon Mine, located in the Yellowknife Gold Belt of the Northwest Territories, back into production. Between 1989 and 1997, the Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore, operating to a depth of 15 metres below the surface.
Previous work at the property produced approximately 15,000 tonnes at 30 grams per tonne, to an elevation of 225 metres AMSL.
The expanded work program will include the following steps:
- Expanding underground development to open up an additional 30,000 tonnes of vein below historic stopes;
- Initiating preliminary work to develop the next level of the mine another 45 metres below the current development, targeting an additional 25,000 tonnes of vein;
- Acquiring additional tankers for an extended season of fuel capacity;
- Acquiring key mill equipment components to allow for milling at 100 tonnes per day; and
- Planning and obtaining contracts to establish the winter road and haul in necessary equipment for the program.
“Developing 30,000 tonnes of vein material will allow for feed to our mill when it is installed,” said Sixty North CEO Dave Webb.
“Although there is a risk that the vein material that has been encountered in the historic drill holes does not yield economically recoverable gold,” he added, “we feel that the history of the Yellowknife Gold Belt demonstrates production grade can exceed that defined by drilling.”
Sixty North Gold Mining is engaged in the acquisition and exploration of mineral property assets.
Shares in Sixty North Gold Mining Ltd. (SXTY) are steady, trading at $0.05 per share as of 12:19 pm EST.