- Sixty North Gold (SXTY) has started mobilizing crews to the Mon Property in the Yellowknife Belt in Northwest Territories
- The company plans to reopen the existing North Ramp and extend the decline a further approximately 200 metres
- The company plans to extract a bulk sample of 4,000 to 6,000 tonnes to confirm the previous mined grades from the mine
- Underground work will commence once preparations are complete
- Sixty North Gold is up 6.67 per cent, trading at $0.08 at 1:04 pm ET
Sixty North Gold (SXTY) has started mobilizing crews to the Mon Property in the Yellowknife Belt in Northwest Territories.
The company plans to reopen the existing North Ramp and extend the decline a further approximately 200 metres.
Doing so will allow it to access between 30,000 to 40,000 tonnes of vein material about 20 metres beneath the historic stopes.
The Vancouver-based junior gold development company plans to extract a bulk sample of 4,000 to 6,000 tonnes to confirm the previous mined grades from the mine.
Crews are setting up all equipment and materials that had been trucked in this past winter and underground work will commence once all preparation is complete.
“Sixty North Gold continues to execute on its stated plans in preparation for extracting a bulk sample this year. We have a management team skilled in underground mining in the Yellowknife Gold Belt and at the Mon Mine in particular. We are excited to have within reach our goal of bringing the permitted Mon Gold Mine back into production,” said Sixty North Gold President and CEO Dr. Dave Webb.
The Mon Gold Property consists of 11 contiguous mining leases and three mineral claims, comprising an aggregate 622 hectares, located in the South Mackenzie Mining District, NWT. The Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989 and 1997.
The company also has an option agreement to acquire a 100% interest in the highly prospective and contiguous 2,394-hectare Hangstone Property adjoining the Mon Property to the East and South from an independent prospector.
Sixty North Gold is up 6.67 per cent, trading at $0.08 at 1:04 pm ET.