InvestmentPitch Media Video Discusses Sixty North Gold's Defining of a Large IOCG Target on its Mon Property in the NWT

VANCOUVER, British Columbia, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Sixty North Gold Mining (CSE:SXTY) (OTCPink:SXNTF) (FSE:2F4) has defined a large IOCG target on its Mon Property in the North West Territories. The Mon Gold Project, located 45 kilometers north of Yellowknife in the prolific Yellowknife Greenstone Belt, NWT, consists of 11 contiguous mining leases and 3 mineral claims and comprises an aggregate 1537 hectares. Following the recently optioned contiguous Hangstone Property, the total property size is now 5,500 acres.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Sixty North Gold Mining has defined a large IOCG target on its Mon Property in the NWT: Sixty North Gold Mining (CSE:SXTY) (OTCPink:SXNTF) (FSE:2F4) has defined a large IOCG target on its Mon Property in the NWT.

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on "InvestmentPitch" and on "YouTube". If these links are not enabled, please visit www.InvestmentPitch.com and enter "Sixty North" in the search box.

Past mining in this Belt exceeds 15 million ounces of gold at grades exceeding 0.5 ounces per tonne, including the Con, Giant and Discovery Mines.

Recent work has defined the 3.2 km by 0.6 km alteration zone on its Mon Property as an Iron Oxide Copper Gold (IOCG) deposit. Petrographic work on a sample from the coincident large magnetic low and intensely hydrothermally altered rocks, together with a comprehensive review of the geochemistry of samples collected from this unit, characterizes the target.

Mapping and prospecting of a 1.5 km portion of the zone reveals that the very large hydrothermally-altered unit had been incorrectly identified as a gabbro by government and company geologists over the past 80 years. Petrographic report by Ultra Petrography and Geoscience Inc. on a sample submitted this year shows it to be to be a strongly altered unit composed of xenoblastic albite with quartz and hematite with accessory minerals including chlorite, biotite, and minor sulphides and oxides. This albitite has a geochemistry that has (Phosphorus pentoxide) P2O5 values up to 5.91%, averaging 3.02%, (Sodium oxide) Na2O values up to 4.26%, averaging 2.90%, with total rare earth oxides of 0.09%.

Dr. Dave Webb, President and CEO, stated: "We are very excited to make this game-changing discovery, adding a very valuable and sought-after target class to our company. Iron oxide-copper-gold (IOCG) systems are among the world's richest and largest mineral deposits. In addition to potentially economic nickel, cobalt, gold, platinum, palladium, by-product strategic elements may include uranium, phosphorus, and rare earth elements (REE) which add to its attractiveness. This is a virgin, grass-roots discovery outlining a very large prospective target that was discovered by our team using standard exploration methodology. Additional geophysical and geochemical targets remain untested and will be reviewed by crews currently mobilizing to the property. We anticipate finding other potentially economic zones within the large target area. The metals identified in our IOCG discovery include many of the battery or critical elements (BE, or CE) being sought territorially, and by federal governments around the world."

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 meters below surface, with gold prices generally averaging between US$350 and US$400 per ounce. Land Use Permit and Water License for mining and milling production at 100 tpd are in place making the Mon the only gold project in the NWT permitted for production.

The shares are trading at $0.035. For more information, please visit the company's website at www.SixtyNorthGold.com, contact David Webb, President & CEO, at 604-818-1400 or by email at [email protected].

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Sixty North Gold has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
[email protected]