Sixty North tables update on NWT gold mine development plan
Sixty North Gold Mining Ltd. [SXTY-CSE, SXNTF-OTC Pink, 2F40-FSE] has released an update on its plan to commence gold production this year on its wholly-owned Mon Gold Mine, near Yellowknife, Northwest Territories.
Sixty North is developing mining operations for the gold the past producing Mon Mine, which is located 40 kilometres north of Yellowknife.
The Mon Gold property consists of 11 contiguous mining leases and three mineral claims, covering 622 hectares, located in the South Mackenzie Mining District. Mon produced 15,000 ounces of gold from 15,000 tonnes of A-Zone ore between 1989 and 1997.
Sixty North gained an option to earn a 100% interest in the project from New Discovery Mines Ltd. (NDM), a private company owned and controlled by Sixty North President and CEO David Webb.
In its latest press release, Sixty North said it has been informed that construction of the southern half of a winter road has commenced from Highway 4, 20 kilometres east of Yellowknife, northwest across Prosperous Lake for a total extent of 15 kilometres. The balance of the road to the Mon Gold Mine site (approximately 30 kilometres further north) will be installed and managed by Matrix Co., a company that provides industrial services for mineral exploration, mining and forestry, commencing next month.
A total of 19 truckloads of supplies, including the 100 tonne per day mill, will be hauled to the site in February and March, the company said.
Matrix was founded in Yellowknife and has 25 years of experience running projects in some of the world’s most remote and challenging environments. Sixty North said it plans to commence assembly of the mill in late April, with initial commissioning of the mill in June and July. “We plan to operate this 100 tonne per day mill 24/7, treating material extracted from the second level of the A-Zone vein below the historic stopes,’’ the company said. “The DD-Zone will be evaluated for potential stope development, and the company plans to extend the main ramp to the third level.’’
“We are very pleased with progress this winter,’’ said Webb. “The installation of the winter road is an important part of our operations. Cold weather with limited snow is creating thick ice, enabling faster and stronger roads to be constructed. Our plans are to get the mill operating as expeditiously as possible.’’
Recently, underground development has intersected the productive A-Zone 17 metres below the historic stopes as well as a newly identified zone, the DD-Zone in the main ramp. The company plans to develop and mine the stopes in the East Limb, West Limb and DD Zone and to extend the ramp to allow for the development of deeper levels.
Sixty North shares were unchanged at 24 cents Thursday and trade in a 52-week range of 27 cents and 0.04.