Aerial view of the Mon Gold Mine, North Portal in September 2021.
Back to Basics.
Restarting a high-grade gold producer near Yellowknife Sixty North Gold Mining Ltd. (CSE:SXTY, FKT:2F4, OTC-Pink:SXNTF) plans to continue underground development of its former-producing Mon Gold Mine in 2022, developing stopes in preparation for anticipated full production in 2023. The Mon Gold Property is located 45-kilometres north of Yellowknife, NWT. Past production in the 1990’s extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold. The overall size, grade and form of the Mon mineralization, as well as its host rock assemblage, is similar to the Discovery Mine (located 50 kilometres to the north) where one-million tons of ore were mined and one-million ounces 10
of gold were recovered between 1949 and 1969, to a depth of 1,200 metres below surface. History of the Mon Property During the initial staking rush in Yellowknife in the 1930’s, a high-grade quartz vein was discovered outcropping along the side of a hill 45 kilometres north of Yellowknife, NWT. Cominco identified a 42-metre-long folded quartz vein with the fold grading 121.7 gpt gold over 1.5 metres, and the planar western limb grading 14.4 gpt gold over 0.7 metres. Subsequent exploration attempted to trace the vein to the west with limited
success. In 1988, it was recognized that the vein was folded into a horseshoe shape and drill holes intersected 50.7 gpt gold over 2.8 metres, and 35.3 gpt gold over 1.5 metres. Mining over the next six years extracted 15,000 tonnes of ore grading >27 gpt gold to a depth of 15 metres below surface, operating on a seasonal basis, with gold prices generally averaging between US$350 and US$400 per ounce. It closed as gold prices declined to below US$300 per ounce. Drilling has traced the gold bearing vein to a depth of 60 metres below surface where it remains open. Sixty North Gold Mining Ltd. signed an earn-in agreement on the property in 2016, and in 2022 acquired a 100 per cent
