Phoenix, Arizona--(Newsfile Corp. - May 17, 2021) - The Stock Day Podcast welcomed Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF)("the Company"), a company that is commencing the restart of the high-grade past producing Mon Mine, 40 kms north of Yellowknife, NWT, within the prolific Yellowknife Gold Camp. CEO of the Company, Dr. Dave Webb, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's decision to continue mining rather than drilling, which would define a 43-101 resource. "In order to bring something into a reserve, you need to have pretty tight space drilling," explained Dr. Webb. "We would need a $1.6 million drill budget, including the assays, geology, and etc, versus our ability to mine it for $1.4 million."
Dr. Webb then expanded on the developments of the Company's current projects. "We had the opportunity to drive our heavy equipment across the ice and bring it onto the property. So, our ice roads were installed," said Dr. Webb. "Everything that you need to do the mining we have sitting on the property and ready-to-go," he added. "As a prelude to doing that, we had to get the permits," continued Dr. Webb, adding that the process for obtaining a permit can be challenging in today's environment.
"100 tonnes per day seems small, why not start with a larger operation?", asked Jolly. Dr. Webb explained that with the Company's high-grade gold project, this can often refer to 100 ounces of gold per day. "Generally, for an average rich mine, something around 10 grams or a third of an ounce would be equivalent to 300 tonnes per day," said Dr. Webb. "It's not about the tonnes that you mine, it's about the ounces that you get."
"How many ounces do you think the project is sitting on?", asked Jolly. "Without a 43-101 we are limited in what we can say, but I think it is millions of ounces," shared Dr. Webb. "The reason for that is that we are in the Yellowknife Gold Belt," he added, noting that the area has been historically rich in gold concentrations. "We have gone down, with the past production on our property, a whopping 15 meters," said Dr. Webb. "That was 15,000 ounces that was produced. So, we're developing an additional 20 meters below that for a total of 35 meters below surface."
"Is there a potential for expansion that you see going forward?", asked Jolly. Dr. Webb elaborated on his background in the Yellowknife Gold Belt. "I've been studying these deposits now for almost half a century," shared Dr. Webb. "There's been an exceedingly low level of exploration in the camp given its production history," he continued, noting that deposits around the area of the Company's project represent similar potential. "It's understanding what it is you're looking for and what it looks like in an exploration program to help you develop it."
To close the interview, Dr. Webb expressed his confidence in the Company's Mon Gold project as they begin executing on their goals within the prolific Yellowknife Gold Camp.
To hear Dr. Dave Webb's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7866972-sixty-north-gold-mining-ltd-discusses-upcoming-commencement-of-mon-gold-project-with-the-stock-d.
Investors Hangout is a proud sponsor of "Stock Day," and Stock Day Media encourages listeners to visit the company's message board at https://investorshangout.com/.
About The Company
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 Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989 and 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 volcanogenic massive sulphide (VMS) targets, as well as shear zone-hosted gold mineralization. The shear zones are 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 Company also has an option agreement to acquire a 100% interest in the highly prospective and contiguous 2,394 hectare Hangstone Property adjoining the Mon Property to the East and South from an independent prospector. The Mon Property shear zone and VMS targets can be projected onto the Hangstone Property.
For more information, please refer to the Company's profile on SEDAR (www.sedar.com) or visit the Company's website at www.sixtynorthgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "David Webb"
David Webb,
President & Chief Executive Officer
For further information, please contact David Webb 604-818-1400
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 Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company's profile.
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SOURCE:
Stock Day Media
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84290
