Sixty North Gold Mining Ltd. Additional to the Firm’s press launch on December 7, 2020, Sixty North Gold studies that the beforehand introduced unit personal placement providing at $0.065 per unit is not going to be continuing. The Firm is happy to report that it has closed a non-brokered personal placement of seven,012,286 models at an providing value of $0.055 per Unit to lift gross proceeds of $385,675.73 . Every Unit …
Additional to the Firm’s press launch on December 7, 2020, Sixty North Gold studies that the beforehand introduced unit personal placement providing at $0.065 per unit is not going to be continuing.
The Firm is happy to report that it has closed a non-brokered personal placement of seven,012,286 models (the “Models”) at an providing value of $0.055 per Unit to lift gross proceeds of $385,675.73 (the “Providing”). Every Unit consisted of 1 (1) frequent share (a “Share”), and one (1) non-transferable share buy warrant (a “Warrant”), with every Warrant being exercisable to buy one (1) further Share at an train value of $0.08 per Share till February 19, 2023.
The web proceeds of the Providing might be used for additional exploration and improvement of the Mon Gold Property, NWT, and the Firm’s normal working capital necessities.
The securities for the Providing will bear legends proscribing resale till June 20, 2021.
Operations and Winter Highway Replace
Dave Webb, President and CEO, studies from Yellowknife that our crews have began all of our heavy gear, which is saved in Yellowknife, previous to delivery up the winter street to the Mon Gold Property. Vans, scooptrams, jumbos and bulldozers are all working usually. The street is at full load capability for all however the closing 5 km, which is at 75% capability. It’s anticipated to achieve full capability by the center of subsequent week. Shipments of kit and provides to website are anticipated to start subsequent week.
Dr. D.R. Webb, Ph.D., P.Geol., P.Eng. is the Certified Individual throughout the which means of NI 43-101 and is answerable for the technical particulars of this launch.
Concerning the Firm
Sixty North Gold Mining Ltd. is commencing the restart of the high-grade previous producing Mon Mine, 40 kms north of Yellowknife, NWT, throughout the prolific Yellowknife Gold Camp. Crews might be mobilized to the property after all the gear has been positioned on the property. Initially plans are to increase the prevailing ramp a further 200 m to offer entry to the A-Zone, 20 m under the earlier stopes. This can permit entry to twenty,000 to 40,000 tonnes of the A-Zone vein under the historic stopes.
The Mon Gold Property consists of 11 contiguous mining leases and three mineral claims, comprising an mixture 622 hectares, situated within the South Mackenzie Mining District, NWT. The Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989 and 1997. Permits to discover, mine and mill at 100 tpd are in place, and the Mon is the one gold undertaking permitted for manufacturing within the NWT. Different targets on the property embody not too long ago found silver and gold-rich volcanogenic huge sulphide (VMS) targets, in addition to shear zone-hosted gold mineralization. The shear zones are related in nature to, and hosted in the identical rocks as, the world-class deposits on the Con and Large Mines in Yellowknife which produced 14 million oz. gold.
The Firm additionally has an choice settlement to accumulate a 100% curiosity within the extremely potential and contiguous 2,394 hectare Hangstone Property adjoining the Mon Property to the East and South. The Mon Property shear zone and VMS targets might be projected onto the Hangstone Property.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “David Webb”
President & Chief Govt Officer
For additional info, please contact David Webb 604-818-1400
Statements in regards to the Firm’s future expectations and all different statements on this press launch aside from historic information are “ahead wanting statements”. Such forward-looking statements are primarily based on quite a few assumptions, and contain recognized and unknown dangers, uncertainties and different elements, together with dangers inherent in mineral exploration and improvement, which can trigger the precise outcomes, efficiency, or achievements of the Firm to be materially totally different from any projected future outcomes, efficiency, or achievements expressed or implied by such forward-looking statements. Additional particulars in regards to the dangers relevant to the Firm are contained within the Firm’s Prospectus dated January 19, 2018 obtainable on SEDAR (www.sedar.com), beneath the Firm’s profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
This information launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase any of the securities in america. The securities haven’t been and won’t be registered beneath america Securities Act of 1933, as amended (the “U.S. Securities Act”) or any securities legal guidelines of any state of america and will not be provided or bought inside america or to a U.S. individual (as outlined in Regulation S beneath the U.S. Securities Act) except registered beneath the U.S. Securities Act and any relevant securities legal guidelines of any state of america or an exemption from such registration necessities is out there.
Not for distribution to United States newswire companies or for
dissemination in america.
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