- Sixty North Gold (SXTY) has completed construction on the company’s winter road at its Mon Gold Mine
- The project is located in the Yellowknife Gold Belt in the Northwest Territories
- The Vancouver-based mining company is now waiting for the ice on the road to thicken
- Trucking of supplies to site is expected to commence in March
- The company also acquired a small drill rig to enable short underground holes to assist in defining areas to be mined in 2024
- Sixty North Gold is unchanged, trading at $0.05 at 11:45 a.m. EST
Sixty North Gold (SXTY) has completed construction on the company’s winter road at its Mon Gold Mine.
The project is located in the Yellowknife Gold Belt in the Northwest Territories.
The Vancouver-based mining company is now waiting for the ice on the road to thicken.
Temperatures are forecast to remain below -20o C, reaching below -40o C on the coldest nights. Trucking of supplies to the site is expected to commence in March.
The company also acquired a small drill rig to enable short underground drill holes to be completed to assist in defining areas to be mined in 2024 and beyond. The holes are less than 30 metres in depth and are expensive to contract out, but required to properly maintain site licenses.
“We believe that the Mon Mine has potential to return to production with very little additional investment required. All mining and support equipment is on site, and the resupply of the mine uses proven winter road technologies as had been used for the very profitable Discovery Mine, Lupin Mine, Tundra Mine, Salmita Mine and is currently used for the Northwest Territories diamond mines. We also wish to report that we are still awaiting receipt of the analytical results from last year’s underground program. The laboratory has confirmed imminent completion of these analyses, and the results will be reported upon receipt and confirmation QA/QC checks. We have been informed to expect these results in early March,” said Sixty North Gold CEO Dave Webb.
The company’s primary focus remains on bringing the historic mine back into production. The Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989 and 1997, operating on a seasonal basis to a depth of 15 m below surface, with gold prices generally averaging between US$350 and US$400 per ounce.
Sixty North Gold is unchanged, trading at $0.05 at 11:45 a.m. EST.