Mawson Gold drills 49.7 g/t gold over 0.6 metres at Whroo, Australia
Mawson Gold Ltd. [MAW-TSX; MWSNF-OTC; MXR-FSE] reported assay results from its Whroo joint venture project. Two diamond drill holes totalling 903 metres were drilled under the Balaclava Hill open pit, the deepest drilling to date across the entire Whroo goldfield. Whroo is one of the largest historic epizonal goldfields in Victoria, Australia, located 130 km north of Melbourne, within 221 km2 of exploration tenements.
The regional exploration work at Whroo over the last 18 months has been undertaken by Mawson Victoria Pty. Ltd. Mawson Victoria was recently transferred from Mawson Gold Ltd. to Southern Cross Gold Pty Ltd as part of a larger internal reorganization ahead of Southern Cross’ proposed IPO expected to be completed in Q2 2022.
Drilling intersected the deepest and highest grades ever drilled on the project to date. Drill hole MDDBC001 intersected a broad 200-metre-wide down-hole zone of gold and antimony (with an uncut zone of 44.8 metres of 0.8 g/t gold and 0.1% antimony – Sb). Higher grade highlights include 0.5 metres og 16.5 g/t gold from 201.5 metres; 0.4 metres of 1.4 g/t gold and 10.5% Sb from 262.4 metres; 0.6 metres of 49.7 g/t gold from 324.9 metres; 0.2 metres of 0.2 g/t gold and 16.5% Sb from 359.6 metres; 0.2 metres of 3.8 g/t gold and 6.3% Sb from 362.8 metres; and 0.3 metres of 1.0 g/t gold and 3.3% Sb from 365.0 metres.
Drill hole MDDBC002, drilled 150 metres west of MDDBC001, intersected:0.7 metres of 5.0 g/t gold from 332.1 metres.
Michael Hudson, Executive Chairman of Mawson and Managing Director for Southern Cross, stated: “There remains a lot of gold to be found in Victoria. Our drilling below one of the largest historic epizonal mines in Victoria, at Balaclava Hill, has produced the best drill result on the field since hard rock mining commenced 167 years ago. Grades up to 49.7 g/t gold over 0.6 metres are impressive as are the antimony grades including 0.2 metres of 16.5% antimony, and the +200-metre-wide zone of anomalous ‘mine sandstone’ host. These results provide Southern Cross Gold with its second bona fide high-grade drill project after Sunday Creek, as we head towards the initial public offering on the ASX.”
As of the date of this press release, Mawson Victoria has met its minimum first year commitments of A$400,000 and is working towards meeting its second year commitment by December 02, 2022.
Through its 84.62% ownership of Southern Cross Gold Pty Ltd, Mawson has a significant interest in the ownership or JVs of three high-grade, historic epizonal goldfields covering 471 km2 in Victoria, Australia.