Sixty North Gold Mining Ltd. is focused on restarting the high-grade past producing Mon Mine, 40 km north of Yellowknife, NWT, within the prolific Yellowknife Gold Camp.
The Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989-1997. Permits to explore, mine and mill at 100 tpd are in place, and the Mon is the
only gold project permitted for production in the NWT. Other targets on the property include recently discovered silver- and gold-rich VMS targets as well as the giant shear
zone-hosted gold mineralization. The shear zone is similar in nature to, and hosted in the same rocks as, the world-class deposits at the Con and Giant Mines in Yellowknife
which produced 14 million oz. gold. The Mon Gold Property consists of 11 contiguous mining leases and 3 mineral claims, comprising an aggregate 622 hectares, located in the
South MacKenzie Mining District, NWT.
The company also has an option agreement to acquire a 100% interest in the highly prospective contiguous 2,394 hectare Hangstone Property adjoining the Mon Property to the East and South.
The Mon Property shear zones and VMS targets can be projected onto the Hangstone Property.
ELEVATOR PITCH – SIXTY NORTH GOLD MINING LTD.
(CSE: SXTY; FKT: 2F4; OTC-PINK: SXNTF)
· Sixty North Gold Mining Ltd is a restarting the production-permitted, former-producing high-grade Mon Gold Mine in Canada’s Northwest Territories, 45 km from Yellowknife.
· Compelling valuation entry point with $4.2m market cap (as of 2021-01-13) – very low for a production-permitted gold mining property.
· SXTY can acquire 100% of the project by funding $6 million expenditures on Mon Property ($2.75 m remaining at November 2020) for an 80% interest;
then acquisition of the remaining 20% interest through issuance of 25% of shares of the Company. Funds have been advanced into the project to date for
purchase of all major mining equipment and camp needed for mine development and operations, drilling below old stopes, geophysics and surface exploration in VMS and shear zones
· Past production at the Mon mine was about 15,000 oz. produced at ~ 1 oz./ton head grade, using with the same operating management team now in place
· The Mon Property is in the Yellowknife Gold Belt; past mining in this Belt exceeds 15 million ounces of gold at grades >0.5 oz./t, including the Con (6 m oz.),
Giant (8 m oz.) and Discovery (1 m oz. at 1 oz./t) mines
· The Mon Gold Property is the only gold project permitted for production in the NWT
· Strategy is to deliver equipment to site and bulk sample the former underground producing zone in 2021, then bring in a mill and commence full production in 2022
· Low capital cost risk; all major mining equipment and camp has already been acquired
· Recent trenching in the former-producing zone yielded grades up to 688 grams/tonne gold over 0.5 m
· Metallurgical testing yielded 98.8% recoveries with only gravity and flotation – no cyanide needed.
· The Mon’s mineralization and structure is very similar to the nearby 1 m oz Discovery Mine
· The Mon Gold Project is permitted to start operating at 100 tonnes/day. The three historic mines on our Yellowknife Gold Belt initial and final milling rates were:
Discovery Mine 100 Tons/day to 230 T/d; Con Mine 100 to 1,400 T/d; Giant Mine 235 to 1,000 T/d
· Former mining at Mon only went down 15 m, when shut down due to low gold price <$350/oz. in 1997. Depth mined on the Yellowknife Gold Belt: Discovery Mine 1,220 m; Con Mine 1,494 m; Giant mine 610 m
· Mon Gold Mine past production costs during the 1990’s were reported to be between CDN$300 and CDN$350 per tonne.
· SXTY has an option to earn a 100% interest in the Mon Gold Property from New Discovery Mines Ltd.
· Exploration potential on the property with VMS and large scale gold shear zones like the Con and Giant Mines, and the optioned adjacent Hangstone Property.
Dr. Dave R. Webb, President & CEO, Sixty North Gold Mining Ltd. Telephone: 604-818-1400 Email: email@example.com
Webiste: www.sixty https://www.sixtynorthgold.com
Fact Sheet: https://www.sixtynorthgold.com/investors/fact-sheet/