Mawson unit drills 2,318 g/t gold over 1 metre at Sunday Creek, Australia

Mawson Gold Ltd.’s [TSXV-MAW; OTC-MWSNF; FSE-MXR] unit, Southern Cross Gold Ltd. [ASX-SXG], has released results from SDDSC107 at the Rising Sun prospect, the best hole drilled to date at Sunday Creek, which returned a spectacularly long and high-grade intersection of gold-antimony mineralization, including 1.0 metre at 2,318 g/t gold drilled within 455.3 metres at 7.2 g/t gold from 413.6 metres (uncut), at the 100%-owned Sunday Creek project in Victoria, Australia.

Highlights: SDDSC107, drilled at Rising Sun, intercepted the highest-grade gold and best intersection drilled to date at Sunday Creek: 0.3 m at 7,330 g/t Au within 1.0 m at 2,318 g/t Au (estimated true width of 0.7 m) from 684.3 m within a broader interval traversing 12 high-grade vein sets of 455.3 m at 7.2 g/t Au (uncut) from 335.0 m.

SDDSC107 contains 10 assayed intervals of greater than 50 g/t Au (up to 7,330 g/t Au) and 13 intervals of greater than 5 per cent antimony (up to 25.9% Sb). Cumulatively, the hole returned 3,424 gold equivalent g/t times m.

SDDSC107 contained four greater than 100 AuEq g/t times m intersections: 15.0 m at 15.2 g/t AuEq (9.3 g/t Au and 3.7 per cent Sb) from 546.8 m; 9.1 m at 40.0 g/t AuEq (39.1 g/t Au and 0.6 per cent Sb) from 566.9 m; 1.0 m at 2,318.8 g/t AuEq (2,318.4 g/t Au and 0.3 per cent Sb) from 684.3 m; 7.6 m at 13.5 g/t AuEq (13.3 g/t Au and 0.2 per cent Sb) from 782.7 m.

The hole was drilled to test the strike extent and continuity of 12 high-grade vein set structures 20 m along strike and down dip from SDDSC077B (404.4 m at 5.6 g/t AuEq (uncut)).

The highest-grade interval (1.0 m at 2,318 g/t Au) in SDDSC107 is located 17 m down dip from SDDSC092 (3.3 m at 267.8 g/t Au, including 0.4 m at 1,610 g/t Au) within vein set RS80. Provides one of the first demonstrations of continuity between extremely high-grade (greater than 1,000 g/t Au) intersections at Sunday Creek.

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

Mawson owns 93.75 million shares of SXG (51%), valuing its stake at $121.9-million (Australian) ($107.7-million (Canadian)) based on SXG’s closing price on March 1, 2024.

Michael Hudson, Mawson’s interim CEO and executive chairman, stated: “Sunday Creek has again delivered one of the hits of the year, and the rebirth of the Victorian goldfields continues. This is an extraordinary global discovery, with hole after hole exceeding previous exceptional drill results. Here, drill hole SDDSC107 from Rising Sun intercepted the highest grade and best intersection at the project with 1.0 m at 2,318 g/t Au, including 0.3 m at 7,330 g/t Au, drilled within a broader interval of 455.3 m at 7.2 g/t Au (uncut).

“Importantly, for the first time we have demonstrated continuity of extremely high grades, with SDDSC107 intersecting its best grades 17 m down dip from SDDSC092, which intersected 3.3 m at 267.8 g/t Au, including 0.4 m at 1,610 g/t Au, in vein set RS80. This provides an enticing opportunity to now focus on these ultra-high-grade zones, in small but rich areas, with closer-spaced drilling (including wedging) to rapidly build ounces beyond our initial exploration target expectations while we also continue to expand the footprint of the mineralized system.

“With four drill rigs operating, 10 holes being processed or in progress, we look forward to continued news flow.”

The true thickness of the mineralized intervals reported are interpreted to be approximately 60-70% of the sampled thickness for other reported holes. Lower grades were cut at a 1.0 g/t Au lower cut-off over a maximum width of two m, with higher grades cut at a 5.0 g/t Au lower cut-off over a maximum of one m width.