Vancouver, British Columbia--(Newsfile Corp. - April 23, 2018) - Sixty North Gold Mining (CSE: SXTY) is one of the latest new listings on the Canadian Securities Exchange. The company is a junior gold development company focused on the Mon Gold Project, located 40 kilometres north of Yellowknife, in the Yellowknife Greenstone Belt, NWT, Canada.
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The property consists of 11 contiguous mining leases and 2 mineral claims, covering 1,221 acres. The Mon Gold Project, one of the most promising gold development opportunities in the NWT, is quartz shear/vein deposit which operated as an underground mine from 1989 - 1997 until closure due to low gold prices.
Sixty North Gold has an option to earn an 80% interest in the project, subject to a 20% carried interest held by New Discovery Mines Limited, the current property owner, and a 2.0% NSR.
Sixty North Gold plans to conduct underground bulk sampling on the former-producing A-Zone, and to conduct surface exploration on the project. Sixty North Gold and New Discovery Mines conducted a 5-hole, 379 metre drilling campaign in 2016 that confirmed mineralization below the mined-out stopes on the A-Zone. All drill holes intersected the A-Zone at target depths.
The company recently closed an IPO, raising gross proceeds of $1,275,000 from the placement of 8.5 million units, priced at $0.15 per unit, with each unit consisting of 1 share and one-half a warrant, with each full warrant exercisable at $0.25 for 24 months.
For more information, please visit the company's website at www.sixtynorthgold.com, contact Ron Handford, CEO, at 604-230-4263 or email [email protected].
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