- Sixty North Gold (SXTY) provides development and exploration update and announces New nickel-cobalt discovery
- New Discovery Mines Ltd is owned by Dr. Dave Webb and Gerry Hess and is the pending controlling shareholder of Sixty North Gold
- Their experience is invaluable to Sixty North Gold as it continues to advance the Mon Gold Mine into production
- It is currently developing plans to mine the next 20 metres below the historic stopes this summer
- Past production extracted 15,000 tonnes of ore to depths of only 15 m below surface, recovering an estimated 15,000 ounces of gold
- Sixty North Gold Mining Ltd. (SXTY) is up 11.11 per cent, trading at C$0.050 at 11:49 am EST
Sixty North Gold Mining (SXTY) and New Discovery Mines will accelerate the earn-in and conversion of NDML’s interest in the Mon Property.
New Discovery Mines Ltd is owned by Dr. Dave Webb and Gerry Hess and is the pending controlling shareholder of Sixty North Gold.
Dr. Webb has been involved with the Mon Gold project since 1988, and Gerry Hess was its Mine Manager during its operation in the 1990s. Their experience on the property and in other operations in the Northwest Territories is invaluable to Sixty North Gold as it continues to advance the Mon Gold Mine into production.
Mining development commenced in 2021, and it plans to accelerate this in 2022, extending the decline, developing stopes, and extracting high-grade vein material from beneath the historic stopes.
Dr. Dave Webb, President and CEO of Sixty North Gold, reports, “Gerry and I are pleased to move the Mon Property forward to benefit company shareholders. We have mined the A-Zone in the past and have many decades of experience in the Yellowknife Gold Belt discovering, developing and operating profitable mines here.”
As for the A-Zone, gold mineralization is open to a depth below the historic slopes at the Mon Mine.
It is currently developing and plans to mine the next 20 metres below the historic stopes this summer and then diamond drill below this level to better define extensions of this high-grade zone for future production planning.
The broad mineralized shear zones made the Con and Giant Mines world-class deposits transect the same rocks here on the Mon Property.
There are trench results of up to 7.22 gpt gold over 6.0 metres that have never been drilled. These zones will be targeted for a follow-up this summer.
The Nelson Lake volcanogenic massive sulphide deposits discovered in 2018 extend over 2,500 m in length on the Mon Property and likely extend onto the recently optioned Hangstone Property.
Eight grab samples collected from an exposed lens on the Mon Property in 2018 average 253.3 gpt silver, 1.61 gpt gold, 2.45 per cent lead and 1.66 per cent zinc.
These VMS zones have never been drilled, and additional geophysics on extensions across the Hangstone Property will be completed and evaluated before initiating a larger drill program.
The discovery is located 1,800 m south of the A-Zone.
A prospecting program following up on some very anomalous biogeochemical samples produced grab samples returning >1 per cent nickel and 0.19 per cent cobalt, together with the same 0.43 gpt gold from a rusty gabbroic phase.
This winter, six follow-up samples returned lower but very anomalous gold, nickel and cobalt values, plus very anomalous platinum and palladium values.
Other cobalt showings have been identified but not developed.
There has not been any follow-up work, mapping or sampling on this showing, which may be similar to the developing Dumont Nickel deposit (0.27 per cent Ni, 0.011 per cent Co) in Québec.
The elevated nickel, cobalt and PGM values have been known from several minor occurrences with very little follow-up work.
This gabbro sill intrudes Burwash Formation metasedimentary rocks, is over 550 m in thickness, has a shallow total magnetic field and generally is non-conductive.
A first vertical derivative of the total magnetic intensity data reveals six 250 to 300 m long by 100 to 200 m wide anomalies over 1,300 m long strike lengths, one of which is coincident with the showing.
The Western Mafic Trend consists of three to four anastomosing gabbro sills intruding intermediate to felsic volcanic rocks over 550 m in width and is 500 m west of the EMT.
Two nickel, cobalt plus PGM trends are noted near the top of these intrusions, exposed over 3.4 km in the strike (open) with nickel values up to >0.15 per cent, cobalt values up to 0.094 per cent, phosphorus to 0.15 per cent and gold values to 58 gpt.
No platinum or palladium was analyzed in the past. These sills are strongly magnetic and conductive.
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 the surface, recovering an estimated 15,000 ounces of gold.
Sixty North Gold Mining Ltd. (SXTY) is up 11.11 per cent, trading at C$0.050 at 11:49 am EST.
