Mawson Drills 17.7 metres at 3.7 g/t Gold and 0.7% Antimony Including 2.2 metres @ 15.8 g/t Gold and 3.3% Antimony at Sunday Creek in Victoria, Australia
Mawson Gold Limited (MWSNF) announced positive assay results from drill holes MDDSC011-12 at its Sunday Creek project in Victoria, Australia. Hole MDDSC012 revealed a significant 36.4 meters of mineralization averaging 2.4 g/t gold and 0.4% antimony, with high-grade intervals including up to 37.3 g/t gold. This follows 14 completed holes totaling 2,487 meters drilled in the area, suggesting potential for further high-grade discoveries. The ongoing drilling and soil sampling program aims to explore historic dyke-hosted mineralization trends within the project.
- Drill hole MDDSC012 intersected 36.4 meters @ 2.4 g/t gold and 0.4% antimony.
- High-grade intervals include 0.2 meters @ 37.3 g/t gold, showcasing rich mineralization.
- Ongoing drilling and a 2,500-point soil sampling program to explore the 11-kilometer mineralization trend.
- Potential to replicate high-grade results seen in nearby mines like Costerfield and Fosterville.
- None.
VANCOUVER, BC / ACCESSWIRE / March 22, 2021 / Mawson Gold Limited ("Mawson" or the "Company") (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) is pleased to announce assay results from two further drill holes (MDDSC011-12) and multi-element data for remaining holes drilled by Mawson from the
Highlights:
- Diamond drillhole MDDSC0012, the deepest hole and Mawson's best drill result to date at Sunday Creek, was drilled 110 metres vertically below the historic Apollo mine workings and intersected thick and high-grade mineralized intervals over a combined width of 36.4 metres @ 2.4 g/t gold ("Au") and
0.4% antimony ("Sb") (2.8 g/t gold equivalent ("AuEQ")) from 177 metres (without a lower cut) (Tables 1-4, Figures 1 and 2): Better intervals included (lower cut of 0.3 g/t Au cut over 2.0 metre width, with higher grades reported with a 5 g/t Au cut over 1.0 metre):- 13 metres @ 1.7 g/t Au and
0.14% Sb (1.9 g/t AuEQ) from 177 metres- including 0.8 metres @ 11.4 g/t Au and
0.9% Sb (12.3 g/t AuEQ) from 178.0 metres
- including 0.8 metres @ 11.4 g/t Au and
- 17.7 metres @ 3.7 g/t Au and
0.7% Sb (4.4 g/t AuEQ) from 196.0 metres- Including 10.4 metres @ 5.4 g/t Au and
1.0% Sb (6.4 g/t AuEQ) from 203.0 metres- 0.2 metres @ 37.3 g/t Au and
12.0% Sb (49.2 g/t AuEQ) from 207.0 metres and - 2.2 metres @ 15.8 g/t Au and
3.3% Sb (19.2 g/t AuEQ) from 209.0 metres
- 0.2 metres @ 37.3 g/t Au and
- Including 10.4 metres @ 5.4 g/t Au and
- 13 metres @ 1.7 g/t Au and
- The high-grade tenor of the epizonal Sunday Creek is now becoming evident with full gold and antimony assays available for all Mawson drill holes for the first time, with the opportunity to develop similar high-grades as seen in adjacent mining operations such as Mandalay Resource's Costerfield mine or Kirkland Lake Gold's Fosterville mine. Better results to date from Mawson's drilling include:
- 2.0 metres @ 18.6 g/t Au and
0.5% Sb (19.1 g/t AuEQ) from 74 metres in MDDSC010 - 0.3 metres @ 82.8 g/t Au and
13.8% Sb (96.5 g/t AuEQ) from 54 metres in MDDSC002 - 0.1 metres @ 52.6 g/t Au and
7.5% Sb (60.0 g/t AuEQ) from 124.0 metres in MDDSC005
- 2.0 metres @ 18.6 g/t Au and
- Diamond drillhole MDDSC0011, the most northerly hole at the Gladys, intersected moderate thickness and grade mineralization on the margins of the Gladys structure (Tables 1-4, Figures 1 and 2) including 1.0 metres @ 3.1 g/t Au from 100.0 metres;
- Fourteen drill holes (MDDSC001-014) for 2,487 metres have been now completed at the Sunday Creek gold project. Drilling continues;
- A 2,500-point soil sampling program at Sunday Creek has commenced extending east-northeast from drilling areas to test the 11 kilometre trend of historic epizonal dyke-hosted mineralization within Mawson's tenured areas.
Michael Hudson, CEO, states: "Sunday Creek is shaping up as one of the best discoveries to emerge from the new wave of gold exploration in Victoria, with this new drilling delivering our best and deepest result from the project. Impressively, we see a broad zone of mineralization (36.4 metres @ 2.4 g/t Au and
Mawson has drilled strong gold results from multiple sheeted vein structures within a 200 metre by 150 metre area (Figure 1) with over 500 metres strike to test between historic mines, before drilling will step out to test the broader 11-kilometre historic mine trend. The high grade and free gold epizonal mineralization targeted by historic miners is now becoming evident from Mawson's diamond drilling. A full suite of gold and antimony assays are now presented for the first time in Table 1 below shows better high-grade results from individual structures.
Table 1: High-grade epizonal gold and antimony sheeted vein intersections from Mawson's drilling at Sunday Creek, Victoria (5 g/t Au lower cut over 1 metre).
Hole_ID | From | To | Width(1) | Au | Sb% | AuEQ |
MDDSC001 | 10.0 | 11.6 | 1.6 | 11.3 | 0.3 | 11.5 |
MDDSC002 | 54.0 | 54.3 | 0.3 | 82.8 | 13.8 | 96.5 |
MDDSC002 | 109.0 | 110.1 | 1.1 | 21.4 | 3.3 | 24.7 |
MDDSC002 | 117.0 | 117.4 | 0.4 | 18.0 | 2.8 | 20.8 |
MDDSC002 | 119.0 | 119.6 | 0.6 | 7.0 | 7.3 | 14.3 |
MDDSC003 | 79.0 | 79.6 | 0.6 | 5.9 | 10.0 | 15.8 |
MDDSC005 | 124.0 | 124.1 | 0.1 | 52.6 | 7.5 | 60.0 |
MDDSC005 | 128.0 | 128.6 | 0.6 | 13.0 | 2.0 | 15.0 |
MDDSC005 | 133.0 | 134.7 | 1.7 | 8.6 | 4.9 | 13.5 |
MDDSC007 | 79.0 | 79.4 | 0.4 | 22.8 | 3.2 | 26.0 |
MDDSC008 | 68.0 | 68.7 | 0.7 | 20.6 | 5.0 | 25.6 |
MDDSC010 | 41.0 | 41.6 | 0.6 | 20.6 | 0.0 | 20.6 |
MDDSC010 | 74.0 | 76.0 | 2.0 | 18.6 | 0.5 | 19.1 |
MDDSC010 | 100.0 | 101.2 | 1.2 | 25.7 | 4.1 | 29.8 |
MDDSC012 | 178.0 | 178.8 | 0.8 | 11.4 | 0.9 | 12.3 |
MDDSC012 | 207.0 | 207.2 | 0.2 | 37.3 | 12.0 | 49.2 |
MDDSC012 | 209.0 | 211.2 | 2.2 | 15.8 | 3.3 | 19.2 |
Note: (1) The true thickness of the mineralized interval is interpreted to be approximately
At Sunday Creek, historic gold mining occurred between 1880-1920 over a greater than 11 kilometre trend. Drilling during 1990-2000s focused on shallow, previously mined surface workings, covering an area of 100 metres in width, 800 metres length but, only to 80 metres average depth. As such, the entire field remains open along strike and to depth. Apollo was the original deepest shaft to 100 metres in the late 1800s in a series of sheeted stibnite-rich veins, predominately hosted within a felsic dyke that broadly controls gold distribution. Two diamond drill holes (MDDSC0011-12) from the Gladys and Apollo areas are reported here (Tables 1-4, Figure 1):
Mineralization at Sunday Creek is hosted in late-Silurian to early-Devonian-aged shales and siltstones containing a series of dykes of felsic-intermediate composition. Gold is concentrated mainly in and around the EW to NE-SW trending felsic dykes, within predominately NW oriented brittle multiple sheeted veins and cataclastic zones. Individual high-grade quartz-stibnite veins at Apollo and Golden Dyke, and cataclastic zones at Gladys were the focus of historical mining at Sunday Creek. These zones have been proven to continue to depth by Mawson. Broader vein-hosted and cataclastic mineralization grading less than 15 g/t gold appears untouched by the historic miners.
Mawson has now completed fourteen drill holes (MDDSC001-014) for 2,487 metres at the Sunday Creek gold. Drilling continues. Assays from 12 out of the 14 completed holes have been released. Geophysical surveys (3D induced polarization and ground magnetics) have been completed. A 2,500-point soil sampling program at Sunday Creek has commenced extending east-northeast from drilling areas to test the 11 kilometre trend of historic epizonal dyke-hosted mineralization within Mawson's tenured areas.
Technical and Environmental Background
Tables 1-4 provide collar and assay data. The true thickness of the mineralized interval is interpreted to be approximately
A diamond drill rig from contractor Starwest Pty Ltd was used in the program. Core diameter is HQ (63.5 mm) and oriented with excellent core recoveries averaging close to
Gold Equivalent Calculation
It is the opinion of Mawson that all the elements included in the metal equivalent calculation have a reasonable potential to be recovered. The gold equivalent (AuEq) was calculated based on commodity prices as 21 March 2021. The Au Eq. formula is as follows: Au Eq. (g/t) = (Au g/t) + (XX * Sb%), where XX = (US
Qualified Person
Mr. Michael Hudson (FAusMM), Chairman and CEO for the Company, is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure or Mineral Projects and has prepared or reviewed the preparation of the scientific and technical information in this press release.
About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)
Mawson Gold Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland. Mawson also owns or is joint venturing into three high-grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia and is well placed to add to its already significant gold-cobalt resource in Finland.
On behalf of the Board, | Further Information |
Forward-Looking Statement
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, timing and successful completion of drill programs planned at Sunday Creek, capital and other costs varying significantly from estimates, changes in world metal markets, changes in equity markets, the potential impact of epidemics, pandemics or other public health crises, including the current pandemic known as COVID-19 on the Company's business, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Figure 1: Plan location of the Sunday Creek Project historic mines and location Mawson drilling.
Figure 2: Longitudinal Cross Section of the Apollo Mine Area showing Mawson drillhole MDDSC0012 reported here.
Table 2: Collar information from Mawson's drilling at the Sunday Creek Project
Coordinate Reference System GDA94, Zone 55 (EPSG:28355)
Area | Hole_ID | Easting | Northing | Dip | Azimuth | RL | Depth | Date |
Central | MDDSC001 | 331080 | 5867769 | -55.5 | 283.3 | 318 | 67 | |
Central | MDDSC002 | 331085 | 5867771 | -65.6 | 241.9 | 318 | 150.3 | |
Rising Sun | MDDSC003 | 330776 | 5867892 | -65.2 | 240.2 | 295 | 127.7 | |
Golden Dyke | MDDSC004 | 330637 | 5867822 | -44 | 240.5 | 321 | 280 | |
Apollo | MDDSC005 | 331029 | 5867798 | -45.5 | 89.6 | 311 | 160.1 | |
Gladys | MDDSC006 | 331023 | 5867799 | -39.4 | 237.1 | 311 | 99.6 | |
Gladys | MDDSC007 | 330985 | 5867712 | -42 | 70 | 321.5 | 150.8 | |
Gladys | MDDSC008 | 331044 | 5867763 | -52 | 253.2 | 320 | 99.2 | |
Gladys | MDDSC009 | 331013 | 5867799 | -50 | 260 | 311 |
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FAQ
What were the recent assay results from Mawson Gold's Sunday Creek project?
Mawson Gold announced significant results, including 36.4 meters @ 2.4 g/t gold and 0.4% antimony from drill hole MDDSC012.
How many drill holes have been completed at Sunday Creek?
A total of 14 drill holes have been completed, totaling 2,487 meters.
What is the significance of the high-grade mineralization found?
The high-grade mineralization, including intervals up to 37.3 g/t gold, indicates a strong potential for further exploration and resource development.
Is Mawson Gold planning further exploration at Sunday Creek?
Yes, drilling continues and a 2,500-point soil sampling program has been initiated to assess the broader mineralization trend.
What potential does the Sunday Creek project have compared to nearby mines?
The project shows potential to develop similar high-grade mineralization as seen in adjacent mines, enhancing its attractiveness to investors.
MAWSON GOLD LTD
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