Update on Sixty North Gold Mining Ltd. and the Development of the Mon Property, Yellowknife, NWT
Update on Sixty North Gold Mining Ltd. and the Development of the Mon Property, Yellowknife, NWT
We are aware that junior mining market has suffered the past few years and many shareholders have abandoned this sector, despite gold prices attaining record highs. To create the most value for our current and future shareholders, we plan to execute on the project's development towards early cash flow, while minimising the effects of financings and dilution. Insiders own over 40% of the issued shares in the Company, aligning their interests with external shareholders. Our goal is to restart mining operations in a few months, developing the vein below the historic stopes and bringing gold-bearing vein material to the surface for assessment. We plan to install a mill in early 2025 with gold production commencing shortly afterward.Vancouver, British Columbia--(Newsfile Corp. - March 7, 2024) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") provides an update on its recent activities.
不列颠哥伦比亚省温哥华--（Newsfile Corp.，2024年3月7日）——Sixty North Gold Mining Ltd.（CSE：SXTY）（FSE：2F40）（场外交易链接：SXNTF）（the”公司“或”六十北金“) 提供了其近期活动的最新情况。
The Company was impacted by the wildfires in the Northwest Territories in 2023 with our camp burning in August 2023. We have accepted a $388,138.19 insurance settlement of our claim.
该公司在 2023 年受到西北地区野火的影响，我们的营地在 2023 年 8 月被烧毁。我们已经接受了388,138.19美元的索赔保险和解协议。
All major equipment and supplies required for the mining operation were not impacted by the fire. We are planning to install a temporary camp to restart activities.
采矿作业所需的所有主要设备和物资都没有受到火灾的影响。我们计划安装一个临时营地以重新开始活动。
We are aware that junior mining market has suffered the past few years and many shareholders have abandoned this sector, despite gold prices attaining record highs. To create the most value for our current and future shareholders, we plan to execute on the project's development towards early cash flow, while minimising the effects of financings and dilution. Insiders own over 40% of the issued shares in the Company, aligning their interests with external shareholders. Our goal is to restart mining operations in a few months, developing the vein below the historic stopes and bringing gold-bearing vein material to the surface for assessment. We plan to install a mill in early 2025 with gold production commencing shortly afterward.
我们知道，在过去的几年中，初级矿业市场遭受了损失，尽管金价创下历史新高，但许多股东还是放弃了该行业。为了为我们当前和未来的股东创造最大价值，我们计划在实现早期现金流的同时，将融资和稀释的影响降至最低。内部人士拥有公司40％以上的已发行股份，使他们的利益与外部股东保持一致。我们的目标是在几个月后重启采矿业务，在历史停靠点下方开发矿脉，并将含金矿脉材料带到地表进行评估。我们计划在2025年初安装一座工厂，不久之后开始生产黄金。
The Company's strategy is to obtain the best information on the narrow vein, nuggety mineral structure and grade, with the most effective use of scarce cash resources, by completing the bulk sample described above. NI 43-101 prohibits the use of certain terms like "ore" or reporting any financial details without completing prescribed Preliminary Feasibility or Feasibility studies, which includes independence of the authors. Sixty North Gold's team includes registered professional engineers and geologists with many decades of experience on this property, including past mine development and operation, who would be excluded from completing such reports. The Company does not believe it would be in the shareholders' best interest to expend the funds to complete these reports at this time. With all mining equipment and bulk supplies already on site, the project's capital cost for development to production is substantially de-risked.
该公司的战略是通过完成上述批量样本，获得有关狭窄矿脉、块状矿物结构和品位的最佳信息，同时最有效地利用稀缺的现金资源。NI 43-101禁止在未完成规定的初步可行性或可行性研究（包括作者的独立性）的情况下使用诸如 “矿石” 之类的某些术语或报告任何财务细节。Sixty North Gold的团队包括注册的专业工程师和地质学家，他们在该地产上拥有数十年的经验，包括过去的矿山开发和运营，他们将无法完成此类报告。该公司认为，此时花费资金来完成这些报告不符合股东的最大利益。由于所有采矿设备和大宗供应已经在现场，该项目从开发到生产的资本成本已大大降低了风险。
Dr. D.R. Webb Ph.D., P.Geol., P.Eng. is the QP within the meaning of NI 43-101 and is responsible for the technical details of this release.
D.R. Webb 博士、P.Geol.、P.Eng. 是 NI 43-101 所指的 QP，负责本版本的技术细节。
About the Company
关于本公司
Sixty North Gold has been developing its 100%-owned Mon Gold Property, 40 km north of Yellowknife, NWT, within the rich Yellowknife Gold Camp. This high-grade past producer averaged a mined grade of an estimated 30 gpt gold and produced an estimated 15,000 ounces of gold from a folded quartz vein to depths of only 15 m below surface.
Sixty North Gold一直在开发其100％持股的Mon Gold地产，该地产位于西北西部耶洛奈夫以北40公里处，位于富饶的耶洛奈夫金营地内。这家过去的高品位生产商平均开采的黄金品位估计为30 gpt，从折叠的石英矿脉到地表以下仅15米的深度生产了约15,000盎司的黄金。
The North Ramp has been reopened and has been extended to within 60 m of the target portion of the vein. The Company plans to extend the ramp to where some high-grade historic holes intersected the vein beneath the previously mined stopes. The plan is to install cross-cuts and raises within the vein to extract and stockpile the vein material on surface. Upon confirmation of the grade and tonnage, a permitted mill will be brought in to process this and ongoing mined material.
北坡道已重新开放，并已延伸至距离矿脉目标部分的60米以内。该公司计划将坡道延伸到一些高等级的历史洞穴与先前开采的矿脉相交的地方。计划在矿脉内安装横切口和竖井，以便在地表提取和储存静脉材料。在确认等级和吨位后，将引进一座经许可的工厂来加工这种和正在开采的材料。
The property also hosts an outcropping precious-metals rich VMS showing and has four modeled geophysical targets along strike within felsic tuffs, lithic and lapilli tuffs. These are plans to drill these when it is appropriate.
该物业还展示了露出的富含贵金属的VMS，并在长石凝灰岩、岩石和青金石凝灰岩的走向上有四个建模的地球物理目标。这些计划是在适当的时候进行钻探。
The Mon Gold Property mining leases and mineral claims are located 45 km north of the City of Yellowknife, NWT.
Mon Gold Property的采矿租约和矿产索赔位于西北部耶洛奈夫市以北45公里处。
For more information, please refer to the Company's public filings available on SEDAR (), under the Company's profile.
欲了解更多信息，请参阅公司在SEDAR上提供的公开文件（），在公司的简介下。
ON BEHALF OF THE BOARD OF DIRECTORS
代表董事会
"Dave Webb"
Dave Webb, President & CEO
“戴夫·韦伯”
戴夫·韦伯，总裁兼首席执行官
For further information, please contact:
Dave Webb
Tel.: 604 818-1400
Email: dave@drwgcl.com
Website:
欲了解更多信息，请联系：
戴夫·韦伯
电话：604 818-1400
电子邮件： dave@drwgcl.com
网站：
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 public filings available on SEDAR (), under the Company's profile.
关于公司未来预期的陈述以及本新闻稿中除历史事实之外的所有其他陈述均为 “前瞻性陈述”。此类前瞻性陈述基于多种假设，涉及已知和未知的风险、不确定性和其他因素，包括矿产勘探和开发固有的风险，这些风险可能导致公司的实际业绩、业绩或成就与此类前瞻性陈述所表达或暗示的任何预期未来业绩、业绩或成就存在重大差异。有关适用于公司的风险的更多详细信息包含在SEDAR上提供的公司公开文件中（），在公司的简介下。
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
加拿大证券交易所尚未批准或不批准本新闻稿的内容。