Vancouver, British Columbia--(Newsfile Corp. - September 10, 2018) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTCQB: SXNTF) (the "Company" or "Sixty North Gold") is pleased to announce rapid advancement on its trenching program, and that it has received a $59,471 Mining Incentive Program grant from the Government of the Northwest Territories.
The Company is pleased to report that the trenching program announced in a news release September 4, 2018, is proceeding well, is ahead of schedule with seven trenches blasted on the West Mafic Trend (WMT) through September 6, 2018, and blasting on a further three trenches is expected to be completed shortly. The crews will then proceed with mucking, mapping and sampling the trenches from camp over the next seven to ten days. Additional results are expected from the prospecting program over the next two weeks.
Ronald Handford, Company CEO, stated, "We are delighted with the Company's progress in the field this summer. The 2018 follow-up chip and grab sample programs across the Mon Gold property, which is still in progress, has already led us to the trenching targets. Further results from the sampling programs are expected in the near future. The 2018 metallurgical results from the A-Zone crown pillar sampling showed very strong gold recoveries averaging 98.8% on a quarter-tonne sample, using a simple gravity and flotation circuit. Also, the results of the 2017 prospecting program across the property defined two gold trends over 3 km long, and the 2017 mechanized trenching of the crown pillar of the past-producing A-Zone, supported its high-grade nature. "
Mining Incentive Program Grant
Mr. Handford further said, "We are very pleased to have received this MIP funding to support our 2018 prospecting, biogeochemistry and trenching activities. We also appreciate the validation of our program and team by the Northwest Territories Geological Survey that this funding represents."
The NWT MIP provides funding to prospectors and exploration companies who propose new exploration projects or are already carrying out NWT mineral exploration work. The Program is intended to stimulate and sustain mineral exploration activities throughout the NWT and reduce the risk associated with grass roots mineral exploration - exploration that is vital to a healthy, sustained, and productive mining industry.
Dr. D.R. Webb, Ph.D., P.Geol., P.Eng. is the Qualified Person for this release within the meaning of NI 43-101 and has reviewed the technical content of this release and has approved its content.
About the Company
The Company is engaged in acquisition, exploration and development of mineral properties. Its principal target is the exploration for gold on the Mon Gold Property, 40 km north of Yellowknife, NWT. The Mon Gold Property consists of 11 contiguous mining leases and 3 mineral claims, comprising an aggregate 1,536.92 acres, located in the South MacKenzie Mining District, NWT. For more information, please refer to the Company's Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and Director
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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.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.