Sixty North Gold Updates Activities at Mon Gold Mine, NWT
Rhea-AI Summary
Sixty North Gold (OTC: SXNTF) reported progress at its wholly owned Mon Gold Mine in Yellowknife, NWT, including a fully assembled 20-person camp, completed equipment maintenance, and blast rock removal from the mill pad, enabling mill assembly and preparation for mining start-up as the mill nears completion.
The company holds a Type B Water License and Land Use Permit and has submitted all 16 required Management Plans, with 9 approved and the remainder under Mackenzie Valley Land and Water Board (MVLWB) review. A water and groundwater monitoring plan was rejected, and the MVLWB directed 14 months of additional baseline sampling before resubmission. Sixty North Gold states it is ready to commence production and is working with consultants and governmental stakeholders to secure remaining approvals.
Positive
- 20-man camp operational and mine infrastructure prepared at Mon Gold site
- Mill pad cleared and company ready to commence mill assembly and mining
- Type B Water License and Land Use Permit in place for small-scale operations
- 16 Management Plans submitted with 9 already accepted by MVLWB
- Historic production of ~15,000 oz gold from 15,000 tonnes mined in 1990s
Negative
- Water and Groundwater Management Plan rejected, requiring 14 months of added baseline sampling
- Advanced Exploration directive changed in spring 2026, limiting activities to already approved plans
- Outstanding Management Plans remain under review, delaying full production start under Type B license
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - July 30, 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.
The Company's Annual General Meeting was held on July 23; all resolutions detailed in the Company's information circular were approved by shareholders, and no other business was put forward.
Sixty North Gold has its 20-man camp fully assembled and operational at the Mon Gold Mine site. The Company has completed standard equipment maintenance. We have cleared blast rock from the mill pad and are ready to commence mill assembly, with mining ready to start as the mill nears completion.
The Company has a Type B Water License and Land Use Permit to explore, develop and operate a small-scale mine at the Mon Gold Mine. A Type B water license is "designed to deal with smaller-scale industrial, municipal, and exploration projects that use moderate amounts of water or deposit lower volumes of waste. Unlike major undertakings requiring a Type A license, Type B projects have a lower potential environmental impact (Mackenzie Valley Land and Water Board - MVLWB)".
As part of the license, the Company is required to submit Security Bonding and sixteen Management Plans to the MVLWB for approval. All sixteen have been submitted, reviewed and have had revised versions re-submitted to the MVLWB based on their comments. Nine Management Plans have now been accepted and the remaining plans have been submitted with the assistance of independent specialists over the past 12 months, and are currently being reviewed by the MVLWB.
Our Water and Groundwater Management and Monitoring Plan V2.0 and V2.1 was submitted with the recognition that baseline sampling has been sparse. This plan was rejected by the MVLWB with a comment that "Part B, Condition 16 allows the Board to provide direction to the Licensee regarding implementation of the conditions of the License." This directive was to collect samples over the succeeding 14 months prior to resubmission in support of our baseline data.
The Company requested Tetra Tech to prepare a technical memo incorporating data collected by government inspectors prior to Sixty North Gold's activities on site. Tetra Tech prepared this memo summarizing twenty-five years of data collected across the Mon Property and stated "With the aforementioned exceptions, the EQC ("Effluent Quality Criteria") water quality parameters have been consistent over the past 25 years and do not show any significant changes over time." The exceptions mentioned in the memo are in part natural, some occurred before Sixty North Gold's involvement on the property and the balance can be accounted for, are natural or have been rectified. This memo was reviewed and did not warrant further consideration by the MVLWB.
Dave Webb, President & CEO, reports, "We had been operating as an Advanced Exploration Plan under a board directive dated October 24, 2022 which allowed for underground development, bulk sampling, infrastructure construction, and limited processing. Our plan had been to continue developing the Mon Mine property under this directive while submitting revised Management Plans for approval. This directive was changed in the spring of 2026 during our winter road construction and mobilization, with only activities in approved Management Plans permitted to proceed.
"We are ready to commence production at the Mon Mine, and have engaged well-respected consultants to assist us in completing the outstanding Management Plans. We have been keeping the Federal, Territorial, and Indigenous Governments aware of our progress and had hoped that the scientific data we already had submitted to the MVLWB would support approvals from them to proceed under the Type B Water License."
Tom MacNeill, Chairman, states, "The only operating mines in the NWT are diamond mines and are now either in receivership or slated for closure, terminating employment, contracts and business in the NWT. Our low-impact mine, including the laydown area, mine openings, shops, generators, compressors and mill, fits in half of the area of the Walmart lot in Yellowknife. Our total daily water use during operations is less than that used by three diamond drills, with over
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
Sixty North Gold is developing mining operations on its 100-per-cent-owned Mon Gold Project. The Company has designed its operation to be as sustainable as possible.
The 100 tpd mill will only require 15 to 20 cubic meters of make-up water each day that will be sourced first from mine water discharge and lastly from fresh sources. The Mon Mine should use less water than a modest diamond drill program and have no liquid slurry to manage and net, the mill will have reduced fresh water usage by >
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/307370