Mawson Gold drills 249.5 g/t gold over 0.3 metres at Sunday Creek, Australia

Mawson Gold Ltd. [MAW-TSX; MWSNF-OTC; MXR-FSE] reported results from six further drill holes (SDDSC056 to SDDSC058, SDDSC061, SDDSC063 and SDDSC065) at the Sunday Creek project in Victoria, Australia. Sunday Creek is 100%-owned by Southern Cross Gold Ltd. [SXG-ASX], which is an Australian Securities Exchange-listed company owned 51% by Mawson. Four rigs continue to drill both in the main drill area and up to 7.5 km along strike at the Tonstal prospect, with 13 holes being processed and analyzed or in progress. Mineralization now extends in the main drill area over 1,350 metres from Christina in the far west to SDDSC063.

Drill hole SDDSC061 is a large, 270-metre stepout vertically below the Rising Sun shoot. Multiple points of visible gold were observed between 691 metres to 695.1 metres in SDDSC0061, and it is the second-deepest intersection on the project to date.

Highlights included 12 metres at 7.4 g/t AuEq (gold equivalent) (7.4 g/t gold, 0% antimony) from 688 metres, including 0.3 metres at 249.5 g/t AuEq (249.5 g/t Au, 0% Sb) from 691.1 metres.

SDDSC063, a 200-metre, near-surface step-out from prior drilling at Apollo East, targeted mineralization below surface trenching. Highlights included 2.7 metres at 4.4 g/t AuEq (3.4 g/t Au, 0.7% Sb) from 24 metres, including 0.5 metres at 17.2 g/t AuEq (12.2 g/t Au, 3.2% Sb) from 26.2 metres.

Drill hole SDDSC056, drilled to test a near-surface gap between Apollo and Gladys, intersected one metre at 11.7 g/t AuEq (0.1 g/t Au, 7.4% Sb) from 77 metres; 19.6 metres at 1.5 g/t AuEq (one g/t Au, 0.3% Sb) from 132 metres, including 0.5 metres at 25.7 g/t AuEq (9.9 g/t Au, 10% Sb) from 134.5 metres, including 0.5 metres at 6.3 g/t AuEq (6.3 g/t Au, 0% Sb) from 150.1 metres; 2.4 metres at 3.8 g/t AuEq (3.5 g/t Au, 0.2% Sb) from 172.6 metres, including 0.6 metres at 10.8 g/t AuEq (9.9 g/t Au, 0.6% Sb) from 173.8 metres.

SXG now has four rigs drilling at Sunday Creek, three in the main drill area and the fourth up to 7.5 km along strike at the Tonstal prospect, with 13 holes being processed and analyzed or in progress.

Mawson owns 93.75 million shares of SXG (51%), valuing its stake at $64.7-million (Australian) ($58.7-million (Canadian)) based on SXG’s closing price on March 29, 2022.

Noora Ahola, Mawson’s interim CEO, stated: “We are pleased with the expansive drill campaign being undertaken by SXG at Sunday Creek that is bearing great results. SDDSC061 is the second-deepest hole at the property and a 270-metre step-out below the Rising Sun shoot that intersected 0.3 metres at 249.5 g/t gold within a broader interval and encouragingly sees the system transitioning at depth, with visible gold, in a similar manner to what is observed at other epizonal deposits that are in production in Victoria.

“Also exciting is SDDSC063 that has again extended the mineralized zone to the east of Apollo by a further 200 metres with grades of up to 12.2 g/t gold and 3.2% Sb from 26.2 metres and beneath a surface trench that previously returned eight m at 19.6 g/t gold and 0.4% Sb (3 metres true width).

“SXG has successfully increased the size of its main drill area to 1,350 metres along strike and 800 metres to depth, and with the recently mobilized fourth rig at the Tonstal prospect around 7.5 km to the northeast of the main drill area, we expect known mineralization to increase further still at Sunday Creek.”

The Sunday Creek epizonal-style gold project is located 60 km north of Melbourne, within 19,365 hectares of granted exploration tenements. SXG is also the freehold landholder of 133 hectares that form the key portion in and around the drilled area at the Sunday Creek project.

Sunday Creek has an 11-km mineralized trend that extends beyond the main drill area and is defined by historical workings and soil sampling, which is being drill tested for the very first time with the fourth drill rig, which mobilized to site just over a week ago.

Drill hole SDDSC061 is a large, 270-metre step-out vertically below the Rising Sun shoot and intersected 8 metres at 1.3 g/t AuEq (1.2 g/t Au, 0.1% Sb) from 656 metres; and 12 metres at 7.4 g/t AuEq (7.4 g/t Au, 0% Sb) from 688 metres, including 0.3 metres at 249.5 g/t AuEq (249.5 g/t Au, 0% Sb) from 691.1 metres.

Drill hole SDDSC063, a 200-metre step-out from prior drilling at Apollo East, targeted mineralization found in surface trenching (eight m at 19.6 g/t gold and 0.4% antimony (3 metres true width) as well as 2 metres at 4.9 g/t gold and 0.2% antimony (2 metres true width)). SDDSC063 intersected 2.7 metres at 4.4 g/t AuEq (3.4 g/t Au, 0.7% Sb) from 24 metres, including 0.5 metres at 17.2 g/t AuEq (12.2 g/t Au, 3.2% Sb) from 26.2 metres.

Drill hole SDDSC056, drilled to test a near-surface gap between Apollo and Gladys, intersected 1 metre at 11.7 g/t AuEq (0.1 g/t Au, 7.4% Sb) from 77 metres; 19.6 metres at 1.5 g/t AuEq (one g/t Au, 0.3% Sb) from 132 metres, including 0.5 metres at 25.7 g/t AuEq (9.9 g/t Au, 10% Sb) from 134.5 metres, including 0.5 metres at 6.3 g/t AuEq (6.3 g/t Au, 0% Sb) from 150.1 metres; 2.4 metres at 3.8 g/t AuEq (3.5 g/t Au, 0.2% Sb) from 172.6 metres, including 0.6 metres at 10.8 g/t AuEq (9.9 g/t Au, 0.6% Sb) from 173.8 metres.

Drill hole SDDSC057, testing a gap lower in the Apollo area, intersected lower-grade gold and arsenic mineralization over 16.4 metres at 0.8 g/t AuEq (0.3 g/t Au, 0.3% Sb) from 325.2 metres (20 m at 0.1 g/t Au lower cut-off), which included 0.8 metres at 11.7 g/t AuEq (two g/t Au, 6.1% Sb) from 328.2 metres.

SDDSC058, the first of three holes drilled below old workings at Golden Dyke, intersected the halo to mineralization with broad and low-grade gold and arsenic noted, including 19 metres at 0.2 g/t AuEq (0.2 g/t Au, 0% Sb) from 220 metres (20 metres at 0.1 g/t Au lower cut-off).

Drilling with four rigs is in progress at Sunday Creek at the Golden Dyke, Rising Sun and Apollo prospects.