Planned Arctic Economic and Security Corridor All-Weather Road Positively Affects Sixty North Gold's Mon Gold Mine, NWT
Rhea-AI Summary
Sixty North Gold (OTC: SXNTF) reported that the proposed Arctic Economic and Security Corridor all-season road route would encompass its wholly owned Mon Gold Mine near Yellowknife, NWT. The company expects potential operating cost reductions and lower on-site fuel and explosives inventories if the road is built.
Underground work has intersected the A-Zone below historic stopes and exposed a new DD-Zone in the ramp, supporting plans to develop and mine multiple zones at Mon, alongside exploration of additional VMS, shear-zone and IOCG-style targets as warranted.
Positive
- Proposed AESC corridor route encompasses the Mon Gold Mine, improving potential access
- All-weather road is projected to reduce operating costs by eliminating winter road construction
- Road access may lower on-site fuel and explosives inventories, reducing environmental liabilities
- Underground development intersected the A-Zone 17 m below historic stopes as planned
- Newly discovered DD-Zone exposed in main ramp adds another mining target
- Company plans stope development in East Limb, West Limb and DD-Zone, plus deeper ramp extension
Negative
- None.
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Vancouver, British Columbia--(Newsfile Corp. - August 19, 2026) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") provides an update on its wholly-owned Mon Gold Mine, Yellowknife, NWT.
Sixty North Gold wishes to congratulate the Yellowknives Dene First Nation and Tłı̨chǫ Government on reaching consensus on a proposed route for the Arctic Economic and Security Corridor. The agreement between two of the First Nations over whose land the road is planned took hard work, compromise and a willingness to find common ground on issues that matter deeply to both nations and their citizens.
Dr. Dave Webb, President and CEO of the Company, states, "We are pleased that the broad corridor was planned to respect First Nation's values and preserve caribou habitat while at the same time linking lands of potential economic and security benefits to local communities and Canada as a whole. We note that the corridor, as selected, encompasses Sixty North Gold's wholly-owned Mon Gold Mine. We will do what we can to assist all levels of government in meeting their objectives for this proposed road.
"The all-weather road access to the Mon Mine is projected to significantly reduce our operating costs, by avoiding the need to build a winter road for heavy equipment and bulk supplies delivery, as well as shipment of concentrates out from the mine. Operating costs will be reduced by allowing for smaller, as-needed resupply of consumables. Environmental liabilities can also be reduced by keeping lower levels of fuel and explosive inventories on site."
Figure 1. Map provided by the Yellowknives Dene First Nation and Tłı̨chǫ Government amended.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5873/310328_e968e62194de0990_001full.jpg
The Arctic Economic and Security Corridor, or AESC, is a proposed 400 km +/- all-season highway through the Slave Geological Province to the Nunavut border, where it will connect with the Grays Bay Road and to the Arctic Ocean. Prime Minister Mark Carney referred this to the federal Major Projects Office in March 2026.
Dr. D.R. Webb, P.Geol, P.Eng., a "qualified person" under National Instrument 43-101 and President and CEO of Sixty North Gold, has reviewed and approved the technical content contained in this news release.
About the Company
Mining at the Mon Gold Mine in the 1990's extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold (Company Technical Report NI 43-101, August 3, 2023 on SEDAR+ or https://sixtynorthgold.com/projects/technical-report/). Recently, underground development has intersected the productive A-Zone 17 m below the historic stopes as planned. A newly discovered zone, the DD-Zone is exposed in the main ramp. The company plans to develop and mine stopes in the East Limb, West Limb and DD Zone and to extend the ramp to allow for the development of deeper levels.
The silver-rich VMS deposits (https://sixtynorthgold.com/projects/volcanogenic-massive-sulphide-vms-deposits/), the large shear zone-hosted gold targets (https://sixtynorthgold.com/projects/shear-zones/), and the critical-element-enriched IOCG-style mineralization (https://sixtynorthgold.com/projects/iocg-target/) will be explored and developed as warranted.
The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery Mine with one million ounces of gold produced, and Sixty North Gold's Mon Mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con Mine and Giant Mine); (ref. Company Technical Report NI 43-101, August 3, 2023). The Yellowknife Gold Belt is an historic gold producing camp where all of the mines commenced production at <100 tpd. Yellowknife has the people, services and experience to bring this Archean gold belt back to life.
For more information, please refer to the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dave Webb"
Dave Webb, President & CEO
For further information, please contact:
Dave Webb
Tel.: 604 818-1400
Email: dave@drwgcl.com
Website: www.sixtynorthgold.com
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding the anticipated timeline for mobilization of equipment and personnel to the mine site as well as the receipt of necessary regulatory approvals.
Forward-looking information is based on certain assumptions that Sixty North Gold believes are reasonable at this time, including assumptions as its ability to receive, in a timely manner and on satisfactory terms, the necessary regulatory and other third-party approvals.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: the risk that mobilization of equipment and personnel may not be completed on a timely basis or at all; the risk that doing so may involve unexpected costs, liabilities or delays; the possible occurrence of an event, change or other circumstance that could result in the Company being unable to commence operations; risks relating to the failure to obtain necessary regulatory approvals; general economic, market and business conditions; fluctuations in securities markets and the market price of precious metals and of the Company's shares; and other risks inherent in the mining industry.
Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof and, except as required by applicable securities laws, Sixty North Gold does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310328