Sixty North Gold Mining Plans Diamond Drilling on Its Wholly-Owned Mon Gold Property, Yellowknife, NWT
Rhea-AI Summary
Sixty North Gold Mining (CSE: SXTY, OTC: SXNTF) has announced plans for diamond drilling at its wholly-owned Mon Gold Property. The program focuses on two main targets: The DD-Zone, a newly discovered 2m wide vein system adjacent to the past-producing A-Zone, which showed samples up to 62.6 gpt gold, and VMS targets, consisting of four separate volcanogenic massive sulphide locations.
The DD-Zone drilling will involve six holes to test the zone where previous muck samples showed 37.5 gpt gold. The VMS program targets areas with conductors ranging from 45 to 180m in length and 16 to 36m in thickness, with some showing associated magnetic anomalies. Previous samples from the area included intervals with 203 gpt silver, 1.0 gpt gold, 0.56% lead, and 0.96% zinc.
Positive
- New DD-Zone discovery shows high-grade gold samples up to 62.6 gpt
- VMS targets identified with significant size potential and precious metal content
- Previous sampling showed promising results with 203 gpt silver and 1.0 gpt gold
Negative
- DD-Zone's extent and continuity still not well understood
- Drilling program is still in planning phase with no guaranteed timeline
News Market Reaction – SXNTF
On the day this news was published, SXNTF gained 9.41%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - December 19, 2024) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold")
Sixty North Gold Mining Ltd. is planning to drill test a number of targets on its wholly-owned Mon Gold Property commencing this winter.
Drill Target One - Mon Gold Mine
The DD-Zone is a 2 m wide newly discovered vein system immediately adjacent to the past producing A-Zone. The DD-Zone was encountered during mining activities but is not well understood. A short, six-hole surface drilling program has been planned to test the zone up dip and along strike of the 17 m underground exposure that had 37.5 gpt gold from a muck sample collected during mining, and chip samples ranging from nil to 62.6 gpt gold across 30 cm. This will provide necessary information to develop raises and stoping areas in the vein.
Drill Target Two - VMS
This drill program will focus on four separate volcanogenic massive sulphide (VMS) targets at the top of a thick mafic volcanic sequence where volcanism gives way to felsic and intermediate tuffs and pelites. The smallest and weakest geophysical target coincides with a mixed pelite and felsic to intermediate volcanic horizon that contains narrow massive to semi-massive sulphide intervals including 45 cm of 203 gpt silver, 1.0 gpt gold,
Dr. Webb, president, CEO of the company reports "It is important to continue development of the Mon Gold Mine, and to add to the mineralization we can immediately start mining. The DD-Zone is a new discovery within our current mine that needs to be refined to allow for better development plans to be made.
"The VMS targets are very exciting and well defined. The Hacket River VMS deposits, within the Yellowknife Supracrustal rocks, are among the largest in the world with close to 100 million tonnes of reserves and resources grading better than 136 gpt silver, more than
Dave Webb Ph.D., P.Geol., P.Eng. is Qualified Person for the purposes of this release and has reviewed and approved its technical content."
About the Company
The Company is developing mining operations for gold on its
Other targets on the property include silver and gold-rich volcanogenic massive sulphide (VMS) targets, as well as shear zone-hosted gold mineralization.
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/234422
FAQ
What are the gold grades discovered in the DD-Zone at Sixty North's Mon Gold Property (SXNTF)?
What are the dimensions of the VMS targets identified at Sixty North's Mon Gold Property?
What were the silver and base metal grades found in the VMS targets at SXNTF's Mon Property?
How many drill holes are planned for the DD-Zone at Sixty North's Mon Gold Property?
