Mawson Gold subsidiary drills 576 g/t gold over 0.2 metres at Sunday Creek, Australia

Mawson Gold Ltd.’s [TSXV-MAW; OTC Pink-MWSNF; FSE-MXR] subsidiary, Southern Cross Gold Ltd., reported one drill hole, SDDSC108A, from the Apollo area at its 100%-owned Sunday Creek project in Victoria, Australia.

Highlights: SDDSC108A drilled eight high-grade vein sets at Apollo Deep over a 445-metre down-hole interval and delivered on multiple levels. The highest grades of gold found at Apollo to date, including 0.2 metres at 576 g/t gold. Three new vein sets, extending mineralization 150 m east; extensions of known mineralization 150 m below prior drilling from SDDSC066.

SDDSC108A hosts seven intervals greater than 15 g/t gold (up to 576 g/t Au) and six intervals greater than 5% Sb (up to 15.1% Sb).

Selected highlights include three new vein sets that extend mineralization 150 m east, including 11.0 m at 5.0 g/t AuEq (1.9 g/t Au, 2.0% Sb) from 354.1 m, including 0.8 m at 21.0 g/t AuEq (12.0 g/t Au, 5.7 per cent Sb) from 357.6 m; 1.0 m at 15.0 g/t AuEq (1.0 g/t Au, 8.9 per cent Sb) from 359.5 m; and 1.4 m at 8.8 g/t AuEq (3.3 g/t Au, 3.5% Sb) from 363.0 m.

Down-dip extension of mineralization 150 m below Apollo, including 7.8 m at 2.6 g/t AuEq (1.0 g/t Au, 1.0% Sb) from 636.2 m, including 1.1 m at 5.9 g/t AuEq (1.7 g/t Au, 2.6% Sb) from 636.9 m; 9.8 m at 3.9 g/t AuEq (1.8 g/t Au, 1.3% Sb) from 655.6 m, including 1.2 m at 19.4 g/t AuEq (8.6 g/t Au, 6.8% Sb) from 657.8 m; 0.2 m at 576.1 g/t AuEq (576.0 g/t Au, 0.1% Sb) from 762.9 m; and 1.1 m at 17.1 g/t AuEq (16.9 g/t Au, 0.1% Sb) from 797.9 m.

Eight drill holes at Sunday Creek are being processed and analyzed, with three holes in progress.

Mawson owns 93,750,000 shares of SXG (51%), valuing its stake at A$120.0 million (C$108.9 million) based on SXG’s closing price on February 26, 2024 AEST.

Michael Hudson, Mawson’s interim CEO and executive chairman, stated: “Drill hole SDDSC108A delivers on multiple levels, increasing both volume and grade at Sunday Creek in multiple dimensions. The hole demonstrates the system at Sunday Creek continues to the east and to depth, and that it is predictable and targetable.

“Firstly, three new veins were discovered in the upper parts of the hole and these extend mineralization another 150 m further east towards the nine km of regional strike that remains open for further discovery. These add to the 42 vein sets already defined at Sunday Creek for a current total of 45 vein sets.

“Secondly, SDDSC108A extends mineralization 150 m deeper than previous drilling at Apollo Deep proving the continuity and persistency of mineralization in the step-out areas.

“And thirdly, the hole drilled the highest grades of gold found at Apollo to date, including 0.2 m at 576 g/t Au. It continues to validate the opportunity to find even higher grades depth at Apollo Deep, as we have found at Rising Sun 400 m to the west. This high-grade intercept is interpreted to be located 150 m down-dip from the previously highest-grade vein set drilled at Apollo in SDDSC066 (1.0 m at 224 g/t AuEq). This demonstrates the exciting opportunity to further define coherent and extremely high-grade bodies at Sunday Creek with closer spaced drilling.

“Additionally, we continue to be pleased with the high grades of antimony intersected. Antimony is an important potential by-product with its own economic and strategic value.

“With four drill rigs operating and assays from 11 holes awaited, there always remains imminent news flow coming from Sunday Creek, which continues to produce some of the most exciting gold exploration results globally.”

The three new veins sets discovered extend mineralization 150 m east. These new veins sets are interpreted to correlate with mineralization previously identified by surface trenching located 260 m up dip, that included Trench 1: 14.0 m at 12.0 g/t AuEq (11.5 g/t Au and 0.3% Sb) including 8.0 m at 20.2 g/t AuEq (19.6 g/t Au and 0.4% Sb) and Trench 2: 2 m at 5.2 g/t AuEq (4.9 g/t Au and 0.2% Sb).

Drilling, where a very shallow drill hole, SDDSC063 intersected 1.5 m at 6.6 g/t AuEq (5.0 g/t Au, 1.0% Sb) from 25.2 m depth.

Highlights from the three new vein discoveries in SDDSC108A include 11.0 m at 5.0 g/t AuEq (1.9 g/t Au, 2.0 per cent Sb) from 354.1 m, including 0.8 m at 21.0 g/t AuEq (12.0 g/t Au, 5.7% Sb) from 357.6 m; 1.0 m at 15.0 g/t AuEq (1.0 g/t Au, 8.9% Sb) from 359.5 m; 1.4 m at 8.8 g/t AuEq (3.3 g/t Au, 3.5% Sb) from 363.0 m; 2.4 m at 6.1 g/t AuEq (5.6 g/t Au, 0.3% Sb) from 382.8 m, including 0.4 m at 13.0 g/t AuEq (12.6 g/t Au, 0.2% Sb) from 383.2 m; 0.6 m at 10.7 g/t AuEq (10.2 g/t Au, 0.3 per cent Sb) from 384.6 m; 0.3 m at 23.7 g/t AuEq (19.6 g/t Au, 2.6% Sb) from 419.0 m; 0.3 m at 48.8 g/t AuEq (48.8 g/t Au, 0.0% Sb) from 438.4 m; and 9.8 m at 1.8 g/t AuEq (1.6 g/t Au, 0.1% Sb) from 440.7 m.

Highlights from the deep extension of Apollo Deep in SDDSC108A include 7.8 m at 2.6 g/t AuEq (1.0 g/t Au, 1.0% Sb) from 636.2 m, including 1.1 m at 5.9 g/t AuEq (1.7 g/t Au, 2.6% Sb) from 636.9 m; 9.8 m at 3.9 g/t AuEq (1.8 g/t Au, 1.3% Sb) from 655.6 m, including 1.2 m at 19.4 g/t AuEq (8.6 g/t Au, 6.8% Sb) from 657.8 m; 5.5 m at 1.2 g/t AuEq (0.7 g/t Au, 0.3% Sb) from 694.9 m; 5.2 m at 3.2 g/t AuEq (2.3 g/t Au, 0.6% Sb) from 707.6 m, including 0.2 m at 44.8 g/t AuEq (33.9 g/t Au, 6.9% Sb) from 707.8 m; 0.2 m at 576.1 g/t AuEq (576.0 g/t Au, 0.1% Sb) from 762.9 m; and 1.1 m at 17.1 g/t AuEq (16.9 g/t Au, 0.1% Sb) from 797.9 m.

Pending results and update

Eight holes (SDDSC107, 110-112, 112W1, 113, 114, 115A) are currently being processed and analyzed, with three holes (SDDSC116, 117, 118) in progress.

True thickness of the mineralized intervals reported are interpreted to be approximately 60-70% per cent of the sampled thickness for other reported holes.