Sixty North Gold Extends East Limb of A-Zone 115 M North of East Stope with 10.2 gpt Gold over 0.9m from Underground Sampling Program on Its Mon Gold Property
Vancouver, March 17, 2022 - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") is pleased to announce that it has received the assay results from sampling four exposures of the Main Vein, extending the east-limb of the A-Zone 115 m to the north. With reference to the attached sections:
A 0.9 m wide exposure of the east-limb of the Main Vein 115 m north of the last stope returned 10.2 gpt gold from a continuous chip sample. This extends the potential beyond what had been anticipated.
An undocumented stope located below the north-end of the stope on the west-limb of the folded Main Vein was sampled in three locations. Although the vein had been mined in this location with the removal of the well mineralized vein, low-grade residual material remained and was sampled. The northern quartz graded as shown on the table below:
Continuous chip samples across a 1.7m vein grade 4.05 gpt gold are reported below:
| Sample | From (m) | To (m) | Au, gpt |
| 3195802 | 0.2 | 0.7 | 5.14 |
| 3195803 | 0.7 | 1.2 | 2.25 |
| 3195804 | 1.2 | 1.7 | 4.78 |
Samples of quartz on the footwall of the stope from the south-end of the stope returned low-grade values.
Dave Webb, president and CEO, reports, "The 10.2 gpt gold assay from the east-limb of the Main Vein 115m north of what had been mined is unexpected. The grades are certainly very interesting. We will test the east-limb father to the north than we had previously planned, as we expected all economically interesting mineralization in both limbs to be extending to depth and to the south of the existing stopes. Samples collected from the undocumented stope (North Stope) are typical of the ends of a mined area in the mid to late 1990's and suggest that the previous operator had a good handle on where the gold was, extracting what was economic at the time and leaving behind the rest. We should not expect to get results much better than this from a mined-out area."
The Company is on track with its 2022 program. It plans to drive the ramp to the south for an additional 70 m to intersect the A-Zone where NDM-3 (15.29 gpt gold/1.6m) tested it. This is 15 m below 87-11 (61.38 gpt gold/1.2m) on the west-limb. We plan to turn to the east and then north, following the east-limb of the A-Zone beneath the East Stope, 30m below 89-7 (47.49 gpt gold/3m), 15 m below 89-14 (25.37gpt gold/1.7m) and 10 m below 87-20 (19.82 gpt gold/1.5 m). The recent 10.2 gpt gold/0.9m (reported above) is a further 115 m along the east-limb. There is no drilling at or below this ramp elevation that would end up 50m below the 10.2 gpt results. The Company plans to develop stopes at the south-end of the east and west limbs, and as far to the north as warranted.
The samples were collected by Webb and analysed by Bureau Veritas Laboratories (BVI) in Vancouver together with standards and duplicates using fire assays (FA330, FA350, and FA550 laboratory techniques). BVI is ISO 9001 and ISO 17025 certified and independent of the Company.
All drill hole intercepts except NDM-3 are historic in nature, and while believed to be valid, have no residual core to sample, not have any QA/QC work completed.
About the Company
The Company is focused on bringing its Mon Mine in the Yellowknife Gold Belt, NWT Canada back into production. The Yellowknife Gold Belt has accounted for over 14 million ounces of gold production at average grades in excess of 16 gpt gold to depths from surface to 1,900 m below surface.
The Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989 and 1997, operating on a seasonal basis to a depth of 15 m below surface, 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. The current gold price is in excess of US$1,900/oz. Management believes the similarity to the Discovery Mine, located to the north of the Mon Property where 1 million ounces were mined from 1 million tons of ore from surface to depths of 1,200 m indicates the potential for the Mon Mine.
Sixty North Gold has permits to mine and mill at 100 tpd, making the Mon Mine the only gold project currently permitted for production in the NWT. The Company is developing the second level below the historic stopes to commence mining from depths of 40 m below surface.
Other targets on the property include recently discovered silver- and gold-rich volcanogenic massive sulphide (VMS) targets (NR October 17, 2019). Trench samples returning 203 gpt silver, 1.0 gpt gold, 0.59% lead and 0.96% zinc have been returned from exposed VMS mineralization. Larger unexposed geophysical anomalies have been identified but not yet been tested. The property also hosts shear zones that are similar in nature to, and hosted in the same rocks as, the world-class deposits at the Con and Giant Mines in Yellowknife where 14 million oz. gold was produced from 28 million tonnes of ore. Trenching on the Mon Property has returned 7.22 gpt gold over 6.0 m in an undrilled >4 km long shear zone (NR August 29, 2018).
The Company also has an option to acquire a 100% interest in the highly prospective and contiguous 2,101 hectare Hangstone Property adjoining the Mon Property to the East and South from an independent prospector. The Mon Property shear zone and VMS targets can be projected onto the Hangstone Property. The Hangstone Property is contiguous to the Clan Lake Property of Gold Mining Inc. where 91,000 ounces of gold in an Inferred Resource is a modeled open pit and 108,000 ounces of gold in an Inferred Resource occurs in an underground configuration (GoldMining Inc., 2021).
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. For more information, please refer to the Company's profile on SEDAR (www.sedar.com) or visit the Company's website at www.sixtynorthgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "David Webb"
David Webb,
President & Chief Executive Officer
For further information, please contact David Webb 604-818-1400
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.
Inclined orthogonal view down to the northwest of the Mon Property A-Zone, Sixty North Gold Mining Ltd.
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