Sixty North Gold Mining (CSE: SXTY; US-OTC: SXNTF) plans to restart the past-producing Mon gold mine in the Northwest Territories by midyear after installing a 100-tonne-per-day mill at the site, CEO David Webb said.
The project, about 40 km from Yellowknife, is in a gold belt with a history of high grades. Past production totalled about 15 million oz. at an average 16 grams gold per tonne, according to Webb. Sixty North plans to develop beneath historical stopes – about 17 metres below the old workings – and feed the new mill, which the company expects to deliver in March.
“We would ramp down underneath the old [stopes] and start mining that with a brand-new mill,” Webb told The Northern Miner’s Western Editor, Henry Lazenby, at a recent industry event. “And we feel that at 100 tonnes a day, recovering somewhere close to a 100 oz. gold per day – that would work out to over $600,000 (US$442,911) per day.”
So confident are Web and the team in the mineralization they’re seeing that the restart is moving ahead without a formal economic study or compliant mineral resources or reserves. Webb said he prefers to prove the project through mining rather than spend on technical reports he considers costly and inconclusive.
Watch the full interview below:
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