Sixty North Gold announces significant expansion of the Mon property by option of Hangstone property, Yellowknife gold belt
18 November 2020
Sixty North Gold Mining Ltd. Sixty North Gold is pleased to announce that it has signed an option agreement to acquire a 100% interest in 10 Mineral Claims totalling 2,394 hectares adjoining the 622 hectare Mon Property to the East and South. This substantial increase in the size of the Mon Property covers extensions of known mineralized trends. The Vendors retain a 2% NSR, half of which may be purchased any time prior to commercial production by the Company for $1,000,000. A minimum refundable $25,000 payment against the actual NSR payable shall be made after year seven.
The Mon Property is a permitted past producing gold mine that hosts the high-grade A-Zone (past production 15,000 ounces of gold from 15,000 tonnes of ore between 1989-1997). Drilling confirms mineralization extends at shallow depths below the old stopes on this “Discovery Mine” analogue. In addition, shear zone-host gold mineralization has been trenched at several location on the Mon Property yielding results of 7.33 gpt gold over 6.0 m (true width (see NR September 22, 2018)). This is similar in nature to, and hosted in the same rocks as, the world-class deposits at the Con and Giant Mines in Yellowknife. A recently a silver- and gold-rich volcanogenic massive sulphide deposit on the Mon Property has been trenched over a 120m strike length yielding results including 203 gpt silver, 1.0 gpt gold, and 1.55% combined lead and zinc. A VTEM Plus© geophysical survey to trace this discovery was completed and 3D inversions completed by Mira Geoscience Ltd. has clearly identified six additional larger and stronger conductive anomalies within the same strata, all of which are beneath lakes and swamps. The shear zone and VMS targets can be projected onto the Hangstone Property.