Sixty North Gold Announces Drill Intersection of Massive Sulphides Returns Anomalous Gold Values

Rhea-AI Summary

Sixty North Gold Mining (OTC: SXNTF) has reported initial drilling results from its Volcanogenic Massive Sulphide (VMS) program. The company completed two drill holes testing one of six identified targets from a VTEM Plus© geophysical survey. The drilling intersected massive and semi-massive sulphide horizons, primarily composed of iron sulphides with limited precious metals at subeconomic levels. No significant base metal enrichment was found. The upper conductor tested is interpreted as an iron-rich cap-rock of the VMS system. The company plans to focus future drilling on the lower horizon conductors, which are on strike with the mineralized 5656 Zone. Drilling was suspended early due to warm weather affecting snowmobile trail access. The project's location near the Bluefish Hydroelectric Power Plant and Yellowknife road network provides potential infrastructure advantages.

Positive

• Successful identification of massive and semi-massive sulphide horizons confirms presence of VMS system
• Strategic location near Bluefish Hydroelectric Power Plant and road network reduces potential infrastructure costs
• Six drilling targets identified with geophysical confirmation of conductor locations

Negative

• Initial drill results showed only subeconomic levels of precious metals
• No significant base metal enrichment found in tested zones
• Drilling program suspended early due to weather conditions

Vancouver, British Columbia--(Newsfile Corp. - May 5, 2025) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") announces the first drilling results in its Volcanogenic Massive Sulphide ("VMS") drill program. The Company has successfully tested one of the six targets identified from the VTEM Plus © geophysical survey and subsequent analysis of that data by Mira Geosciences ("Mira").

Dr. Dave Webb, CEO, states, "We are pleased that the first two drill holes have identified massive and semi-massive sulphide horizons in the first of six targets to be tested. Drilling was suspended early due to warmer weather making our snowmobile trails inaccessible.

"Assays reveal this horizon to be composed primarily of iron sulphides with limited but continuous enrichment of precious metals at subeconomic levels. No significant base metal enrichment was encountered. The upper conductor we tested is now interpreted to be the iron-rich cap-rock of the VMS system. We are now confident that we are in a VMS system and that geophysics correctly identifies where the lenses are located. The Company can now focus on the lower horizon to determine if these conductors carry grade similar to that found in the 5656 Zone along strike to the north or the Likely or Homer Lake Deposits to the south. We believe the lower conductor represents the best target for further work."

Webb further reports that, "We have six targets we plan on testing, with the lower horizon conductors now being the highest priority as they are on strike and within the same horizon as the well-mineralized 5656 Zone. The attached Figure 1 shows our planned drill program. Our first hole at Location A was setup on lake ice to test the lower horizon, but upon completion of set-up, significant and unexpected water overflowed the ice forcing a rapid demobilization from this target and onto the Set up B that had been prepared for drilling. The two holes completed were from Location B. Additional drill holes are planned on the lower horizon."

Plan View VMS Drilling

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5873/250874_vmsdrilling.jpg

"The proximity to the Bluefish Hydroelectric Power Plant, and the road network from Yellowknife makes these targets appealing for potential development in the future, with reduced infrastructure costs. The VMS zones provide the Company with an exciting diversification and a potential portfolio of strategic metals, in addition to our planned underground Mon Gold Mine on the same property."

Drill Hole Results

DDH	Azimuth	Inclination	From (m)	To (m)	Width (m)	Est. True W.	Gold gpt	Silver gpt
VMS 1	080	-50	59.5	63.0	3.5	2.7 m	0.03	<1.0
VMS 2	080	-70	81.2	91.0	9.8	4.9 m	0.04	nsv.

 

nsv = No Significant Value

Six conductors were modeled by Mira, including an exposed VMS showing, the 5656 Zone which grades 1.0 gpt gold, 203 gpt silver, 0.59% lead and 0.96% zinc over 0.45 m in trench samples over 150 m of strike (see news release November 6, 2018). A cluster of much larger, more prominent conductors along strike include the Lower Horizon which includes the Mac Tuff showing 2 km to the south (not on the Mon Property). The Upper Horizon occurs in a mixed mafic and felsic tuff horizon, 300 m stratigraphically above the Lower Horizon.

Core was delivered to camp where it was logged by a registered Professional Geologist. The core was sawn and half samples were bagged and tagged and delivered to ALS Global in Yellowknife NWT with suitable Certified Reference Standards and Blanks. These samples were crushed and pulverized (CRU-31, PUL-31) in Yellowknife and shipped to ALS Global's Geochemistry site in North Vancouver where they were analyzed by ME-ICP61a, AU-AA23, and OA-GRA08. All standards reported acceptable results. ALS Global is a certified laboratory, independent of the Company.

Dr. D.R. Webb, Ph.D., P.Geol., P.Eng., President & CEO the the Company, is the Qualified Person for this release and has reviewed and approved of its technical content.

About the Company

Sixty North is developing mining operations for gold on its 100-per-cent-owned Mon Gold Project, which extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold in the 1990s (NI 43-101, August, 2023). The North Ramp has been reopened and has been extended to the target portion of the vein. The Company plans to develop stopes in the East Limb, West Limb and DD Zone to extract and stockpile the vein material on surface. Upon confirmation of the grade and tonnage, the Company plans to bring a permitted mill in to process this and continuing mined material.

The VMS target, and the shear zones are separate targets on the property and will continue to be tested as circumstances permit.

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

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward-looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250874

FAQ

What were the initial drilling results for Sixty North Gold Mining (SXNTF) VMS program?

The initial drilling intersected massive and semi-massive sulphide horizons with subeconomic levels of precious metals and no significant base metal enrichment. The first two holes returned gold values of 0.03 g/t over 2.7m and 0.04 g/t over 4.9m.

How many drilling targets has SXNTF identified in their VMS program?

Sixty North Gold has identified six targets from their VTEM Plus© geophysical survey and subsequent analysis by Mira Geosciences.

Why was Sixty North Gold's drilling program suspended?

The drilling program was suspended early due to warmer weather conditions making snowmobile trails inaccessible.

What are the infrastructure advantages of SXNTF's VMS project location?

The project is located near the Bluefish Hydroelectric Power Plant and has access to the Yellowknife road network, which could reduce potential development and infrastructure costs.

What are Sixty North Gold's next steps for their VMS drilling program?

The company plans to focus future drilling on the lower horizon conductors, which are on strike with the mineralized 5656 Zone, as they represent the best targets for further work.