00:05:06 EDT Wed 15 May 2024
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Sixty North Gold Mining Ltd (2)
Symbol SXTY
Shares Issued 27,643,837
Close 2023-08-24 C$ 0.13
Market Cap C$ 3,593,699
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Sixty North Gold camp damaged by NWT fire

2023-08-24 11:03 ET - News Release

Dr. Dave Webb reports

WILDFIRE IMPACT ON SIXTY NORTH GOLD'S MON PROPERTY, YELLOWKNIFE, NWT

Sixty North Gold Mining Ltd. has provided an update on the Yellowknife, NWT, wildfire situation and its impact on the Mon property.

The Northwest Territories and Western Canada have been experiencing a devastating wildfire season with many communities and properties under evacuation orders. The 19,200-hectare ZF012-23 fire north of Yellowknife is still out of control and has swept through the area around the Mon property. On Aug. 16, Yellowknife and surrounding communities were placed on evacuation orders.

Sixty North Gold supported a visit to the mine site on Aug. 21 by a supplier, to examine it and assess any damage to equipment left on site. He reported that all equipment appears to have survived the fire unscathed with the exception of the six-trailer, 20-man camp, two pickup trucks and a quad all-terrain vehicle at the north end of the property. The camp generator and sewage treatment plant appear to be in good shape. All assets away from the camp at the mine are undamaged. This includes the compressors and generators, scooptrams and rock trucks, shops, bulldozer, diamond drill, and miscellaneous equipment. The explosive magazines and fuel tanks also are in good shape. The company has contacted its insurance company to advise them of a potential claim and will be visiting with adjusters at an appropriate time.

Dr. Dave Webb, president and chief executive officer, states: "We are very lucky to have survived this fire with what can best be described as minimal damage, when there is so much devastation in the NWT and elsewhere in Canada. Replacement accommodations for the mine will be sought to support continued underground development and exploration across the property."

About Sixty North Gold Mining Ltd.

Sixty North is developing mining operations for gold on the Mon gold property, 40 kilometres north of Yellowknife, NWT. Past production extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold. 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 crosscuts 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 continuing mined material.

We seek Safe Harbor.

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