SXTY) Announces Discovery of Bulk Mineable Gold Mineralization on Hangstone Claims
Vancouver, British Columbia – July 26, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the “Company” or “Sixty Or du Nord”).
Sixty North Gold identified a potential bulk mineable gold target on its Hangstone option leases during initial field investigations this month. Crews in the camp during the start of the My A-Zone underground mining operation examined the targets identified by the Hangstone vendor in Narrow Lake. The newly discovered zone has significant similarities with the Clan Lake zone located on adjacent claims owned by GoldMining Inc.
The Narrow Lake Zone is a poorly exposed strike of gold showings in gabbros near a mixed contact of pelitic and felsic volcanic rocks within the Yellowknife supergroup rocks. The irregular quartz veins and silicification of the altered gabbros include an exposure zone 24 m long by 14 m wide containing 5% quartz in narrow anastomosed networks with carbonate, arsenopyrite, pyrite and of the associated galena. Sixty grab samples and fragmented over a strike length of 2300 m (open to the north) contain an average of 5.7 gpt of gold and 22 samples over 1 gpt up to 210 gpt of gold. Additional samples were collected.
Dr Dave Webb, who examined the Narrow Lake area, states that “the exposure at the north end is geologically very similar to the exposure at Clan Lake where GoldMining Inc. reports 2.77 million tonnes of ” grading 2.23 gpt of gold containing 198,600 ounces of gold in an inferred zone. Mineral Resources (GoldMining Inc., 2019) The similarity is not unexpected as our claims are contiguous to the Clan Lake property of GoldMining Inc. They also report 12.27 million tonnes of measured and indicated mineral resources with a grade of 2.29 gpt of gold containing 902,000 ounces and 2.8 million tonnes of inferred mineral resources containing 271,000 ounces of gold in their Ormsby zone of similar mineralization 34 km to the northeast. been so diligent. ”Dr. Webb and his team are credited with the discovery and development of the Ormsby area and the Clan Lake area.
About the company
The Company is focused on bringing its Mon mine back to production and has teams that are preparing the site for operations to begin. The Mon mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989 and 1997, mined on a seasonal basis to a depth of 15m below the surface, with gold prices generally included between US $ 350 and US $ 400 per ounce. 100 tpd mining and mill licenses are in place, making the Mon mine the only gold project licensed for production in the Northwest Territories. Teams are currently on site and mining will begin once the infrastructure is in place and functioning properly. The Company plans to drive a ramp deep under the old stope and extract a bulk sample confirming grade and continuity. Management believes that the similarity to the Discovery mine, located north of the Mon property where 1 million ounces were mined from 1 million tonnes of ore, indicates the potential of the Mon mine.
Other targets on the property include recently discovered silver and gold rich volcanogenic massive sulphide (VMS) targets, as well as gold mineralization hosted in shear zones. The shear zones are similar in nature and hosted in the same rock as the world-class deposits at the Con and Giant mines in Yellowknife, which produced 14 million ounces. gold.
The Company also has an option agreement to acquire a 100% interest in the highly promising and contiguous 2,394 hectare Hangstone property adjacent to 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.
For more information, please see 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”
President and CEO
For more information, please contact David Webb 604-818-1400
Statements regarding the Company’s future expectations and all other statements contained in this press release other than historical facts are “forward-looking statements”. These forward-looking statements are based on many assumptions and involve known and unknown risks, uncertainties and other factors, including the risks inherent in mineral exploration and development, which may cause results, performance or achievements. Company realities significantly different. any projected future results, performance or achievements expressed or implied by these forward-looking statements. Further details on 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 OR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.
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