Sixty North Gold Updates Its Drilling Plans on the Wholly-Owned Mon Gold Property, Yellowknife, NWT

Rhea-AI Summary

Sixty North Gold Mining (CSE: SXTY, OTC: SXNTF) has announced plans to drill test several Volcanogenic Massive Sulphide (VMS) targets on its wholly-owned Mon Gold Property this winter. The targets were identified through recent geological, geochemical, and geophysical surveys.

The property features significant geological structures including an 8m thick massive sulphide unit within the Mac Tuff. Notable findings include Anomaly C with samples grading 1.0 gpt gold, 203 gpt silver, 0.59% lead and 0.96% zinc over 0.45m, and Anomalies D, E, F, and G showing various levels of conductivity up to >500,000 S/m.

The company draws comparisons to other significant deposits in the region, such as the Hacket River VMS deposits and the Sunrise Lake deposit, highlighting the potential of the area for substantial mineral resources.

Positive

• Company owns 100% of the Mon Gold Property
• Multiple VMS targets identified for winter drilling program
• High-grade samples from Anomaly C showing 203 gpt silver and 1.0 gpt gold
• Strong conductivity readings up to >500,000 S/m in multiple anomalies

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - January 16, 2025) - 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 Volcanogenic Massive Sulphide (VMS) targets on its wholly-owned Mon Gold Property commencing this winter. These targets were derived from geological, geochemical and geophysical surveys completed over the property recently. A video presentation on our website presents most of this information and can be found here https://sixtynorthgold.com/investors/videos/.

VMS Video Cover Page

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The Archean Yellowknife Supergroup at this location includes a sequence of tholeiitic mafic volcanics overlain by a calc-alkalic volcanic package with inter-formational turbiditic sediments. These are overlain by an extensive turbidite sequence. Massive sulphide horizons occur in the area of the Mon Property where an 8 m thick massive sulphide unit is hosted within the Mac Tuff near the base of the calc alkaline volcanics. Anomaly C on the Mon Property occurs with this horizon 2 km to the north with trench samples grading 1.0 gpt gold, 203 gpt silver, 0.59% lead and 0.96 zinc over 0.45 m (see NR November 6, 2018). Anomaly D is located within a quartz porphyry unit 200 m up dip from Anomaly C. The VTEMplus© survey reports conductivities from 1 S/m to > 500,000 S/m for these anomalies (Napier S., MIRA Geoscience, 2020). One km to the south of Anomalies C and D a composite VTEM Plus © EM anomaly (E, F, and G) occurs under a covered area within the Mac Tuff horizon as well as in the overlying quartz porphyry and crystal tuffs of the Sito Lake volcanic rocks. These anomalies have conductivities from 1 S/m to >4,500, >500,000, and >500,000 S/m respectively (Napier S., MIRA Geoscience, 2020). Three of the conductive targets have associated but offset magnetic anomalies associated with them.

Dr. Webb, president, CEO of the company reports: "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 4.46% zinc with appreciable copper, lead and gold (Ragsdale, R., 2013). This reported as a historic figure, not NI 43-101 compliant and should not be relied upon. The Sunrise Lake deposit, 100 km to the east is another silver-rich deposit with historic indicated resources of 1.52 Mt at 5.99% Zn, 2.39%Pb, 0.08% Cu, 262 g/t Ag, and 0.67 g/t Au (MacMillan, E.J. et al., 2020). This is reported as a historic figure, not NI 43-101 compliant and should not be relied upon."

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 100%-owned Mon Gold Property, 40 km north of Yellowknife, NWT. Past production of the A Zone extracted 15,000 tonnes at 30 gpt gold from this vein (Company Technical Report, August 3, 2023, on SEDAR or https://sixtynorthgold.com/projects/technical-report/). The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery 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 Min and Giant Mine) (ref. Sixty North Gold NI 43-101, August, 2023).

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/237314

FAQ

What are the drilling plans for Sixty North Gold (SXNTF) in winter 2025?

Sixty North Gold plans to drill test several Volcanogenic Massive Sulphide (VMS) targets on its wholly-owned Mon Gold Property, based on recent geological, geochemical and geophysical surveys.

What are the sample grades from Anomaly C on SXNTF's Mon Gold Property?

Anomaly C samples showed grades of 1.0 gpt gold, 203 gpt silver, 0.59% lead and 0.96% zinc over 0.45m.

How many VMS targets has SXNTF identified on the Mon Gold Property?

The company has identified multiple VMS targets including Anomalies C, D, E, F, and G, with varying conductivity levels up to >500,000 S/m.

What is the thickness of the massive sulphide unit at SXNTF's Mon Property?

The massive sulphide unit at the Mon Property is 8 meters thick and is hosted within the Mac Tuff near the base of the calc alkaline volcanics.