6 September 2022
Vancouver, British Columbia--(Newsfile Corp. - September 6, 2022) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold"):
The Company is pleased to report that recent work has defined the 3.2 km by 0.6 km alteration zone on its Mon Property as an Iron Oxide Copper Gold (IOCG) deposit. Petrographic work on a sample from the coincident large magnetic low and intensely hydrothermally altered rocks, together with a comprehensive review of the geochemistry of samples collected from this unit, characterizes the target.
Dr. Webb reports, "We are very excited to make this game-changing discovery, adding a very valuable and sought-after target class to our company. Iron oxide-copper-gold (IOCG) systems are among the world's richest and largest mineral deposits. In addition to potentially economic nickel, cobalt, gold, platinum, palladium (see Table 1, below), by-product strategic elements may include uranium, phosphorus, and rare earth elements (REE) which add to its attractiveness. This is a virgin, grass-roots discovery outlining a very large prospective target that was discovered by our team using standard exploration methodology. Additional geophysical and geochemical targets remain untested and will be reviewed by crews currently mobilizing to the property. We anticipate finding other potentially economic zones within the large target area."
Webb further states, "The metals identified in our IOCG discovery include many of the battery or critical elements (BE, or CE) being sought territorially, and by federal governments around the world."
Mapping and prospecting of a 1.5 km portion of the zone reveals that the very large hydrothermally-altered unit had been incorrectly identified as a gabbro by government and company geologists over the past 80 years. Petrographic report by Ultra Petrography and Geoscience Inc. on a sample submitted this year shows it to be to be a strongly altered unit composed of xenoblastic albite with quartz and hematite with accessory minerals including chlorite, biotite, and minor sulphides and oxides (each <0.5%). This albitite has a geochemistry that has P2O5 values up to 5.91% (average 3.02%), Na2O values up to 4.26% (average 2.90%) with total rare earth oxides (TREO) of 0.09%.
Additional targeted mapping and prospecting will examine other exposures of this IOCG target, focused by our 2018 Geotech VTEM Plus © survey.
Read full news release here.