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
MARCH 22, 2021 - Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF - https://www.commodity-tv.com/ondemand/companies/profil/mawson-gold-ltd/) 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 100%-owned Sunday Creek project in the Victorian Goldfields of Australia. Holes were drilled below the historic Apollo and Gladys mine areas. The project is an epizonal-style gold prospect located 56 kilometres north of Melbourne and contained within 19,365 hectares of granted exploration tenements.
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 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- 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- 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 0.4% Sb) that includes multiple high grade sheeted veins including 0.2 metres @ 37.3 g/t Au and 12.0% Sb and 2.2 metres @ 15.8 g/t Au and 3.3% Sb. MDDSC012 is the first drill hole to test beneath old mine workings, and demonstrates that high-grades continue to depth. Drilling continues with the Company looking to bring in extra drill capacity. As we continue to extend the system in all directions, the chance to find further high-grade blow outs at Sunday Creek remains an exciting opportunity.”
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 (m)
To (m)
Width(1)
Au g/t
Sb%
AuEQ g/t
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 70% of the sampled thickness.
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 70% of the sampled thickness. Gold-only intersections are reported with a lower-cut of 0.5 g/t gold over a 2.5 metre width except on the edge of calculated intervals where 1 metre @ >2.0 g/t gold was applied. No upper cut-off was applied.
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 100% in both oxidized and fresh rock. After photographing and logging in Mawson’s core logging facilities in Nagambie, intervals were diamond sawn in half by Mawson personnel. Half core is retained for verification and reference purposes. Analytical samples are transported to On Site Laboratory Services’ Bendigo facility which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis use aqua regia digest and ICP-MS methods. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content and blanks within interpreted mineralized rock. In addition, On Site inserts blanks and standards into the analytical process.
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$5,600/100) / (US$1,750/31.1035) and the gold price = US$1,750/oz and antimony price = US$5,600/tonne.
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,
"Michael Hudson"
Michael Hudson, Chairman & CEO
Further Information
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316, info@mawsongold.com
In Europe:
Swiss Resource Capital AG
Jochen Staiger
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 (m)
Depth (m)
Date Reported
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
105.9
Gladys
MDDSC010
331033
5867798
-60
214
310.5
151.3
Gladys
MDDSC011
331042
5867798
-55
270
310
215.8
Here
Apollo
MDDSC012
331172
5867842
-60
252.4
309
262.9
Here
Apollo
MDDSC013
331170
5867842
-68
223
309
43.4
Abandoned
Apollo
MDDSC013A
331170
5867842
-68
223
309
270
TBA
Apollo
MDDSC014
330985
5867712
-75
41.4
303.7
300
TBA
Note: (1) The true thickness of the mineralized interval is interpreted to be approximately 70% of the sampled thickness.
Table 3: Intersections from the Sunday Creek. Intersections are reported with a 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.
Hole_ID
From (m)
To (m)
Width(1) (m)
Au g/t
Sb%
AuEQ g/t
MDDSC001
0.0
15.2
15.2
3.7
0.2
3.9
including
2.0
2.8
0.8
9.4
0.4
9.7
including
6.0
6.2
0.1
15.8
0.1
15.9
including
8.0
8.7
0.7
5.7
0.1
5.8
including
10.0
11.6
1.6
11.3
0.3
11.5
MDDSC001
56.0
56.9
0.9
2.2
0.0
2.2
MDDSC001
64.0
65.4
1.4
0.6
0.1
0.7
MDDSC002
16.0
17.5
1.5
1.2
0.3
1.4
MDDSC002
26.0
26.3
0.3
6.3
0.2
6.4
MDDSC002
39.0
41.0
2.0
1.4
0.0
1.4
MDDSC002
50.0
59.0
9.0
3.2
0.5
3.7
including
54.0
54.3
0.3
82.8
13.8
96.5
MDDSC002
76.0
76.5
0.5
1.0
0.0
1.1
MDDSC002
96.0
96.6
0.6
2.2
0.3
2.5
MDDSC002
109.0
110.1
1.1
21.4
3.3
24.7
MDDSC002
113.0
113.3
0.3
10.6
1.1
11.7
MDDSC002
116.0
130.3
14.3
2.9
0.5
3.3
including
116.0
116.3
0.3
25.6
0.0
25.6
including
117.0
117.4
0.4
18.0
2.8
20.8
including
119.0
119.6
0.5
7.0
7.3
14.3
including
123.0
124.1
1.1
5.2
0.8
6.0
including
128.0
128.2
0.2
7.1
0.0
7.1
MDDSC002
135.0
136.0
1.0
0.6
0.0
0.6
MDDSC002
143.0
144.0
1.0
1.8
0.0
1.8
MDDSC003
72.0
73.5
1.5
3.6
0.3
3.9
including
72.0
72.9
0.9
5.3
0.5
5.7
MDDSC003
76.0
81.5
5.5
1.6
1.4
3.0
including
79.0
79.6
0.6
5.9
10.0
15.8
MDDSC003
84.0
84.9
0.9
1.0
0.0
1.0
MDDSC003
91.0
92.4
1.3
0.4
0.6
1.0
MDDSC003
116.0
119.1
3.1
0.6
0.0
0.6
MDDSC005
15.0
15.3
0.3
0.7
0.0
0.7
MDDSC005
88.0
92.2
4.2
3.4
0.1
3.5
including
89.0
89.2
0.1
7.1
0.7
7.9
MDDSC005
99.0
99.2
0.2
1.3
0.4
1.6
MDDSC005
107.0
112.7
5.7
0.6
0.6
1.2
including
109.0
109.2
0.2
3.0
11.2
14.1
MDDSC005
120.0
135.7
15.7
2.6
1.0
3.6
including
124.0
124.1
0.1
52.6
7.5
60.0
including
128.0
128.6
0.6
13.0
2.0
15.0
including
131.0
131.4
0.4
8.3
5.1
13.4
including
133.0
134.7
1.7
8.6
4.9
13.5
MDDSC006
29.0
30.0
1.0
2.3
0.0
2.3
MDDSC006
33.0
33.8
0.8
0.9
0.0
0.9
MDDSC006
57.0
57.6
0.6
0.0
4.4
4.4
MDDSC007
76.0
81.8
5.8
2.2
0.4
2.6
MDDSC007
76.0
76.3
0.3
7.8
2.4
10.2
MDDSC007
79.0
79.4
0.4
22.8
3.2
26.0
MDDSC007
85.0
90.4
5.4
0.6
0.0
0.6
MDDSC007
96.0
96.8
0.8
0.6
0.0
0.6
MDDSC008
13.0
14.0
1.0
1.0
0.0
1.0
MDDSC008
26.0
26.9
0.9
1.3
0.0
1.3
MDDSC008
32.0
33.8
1.8
1.2
0.0
1.2
MDDSC008
68.0
68.7
0.7
20.6
5.0
25.6
MDDSC008
95.0
95.2
0.2
8.4
3.9
12.3
MDDSC009
26.0
26.4
0.4
0.8
0.0
0.8
MDDSC009
29.0
30.7
1.7
0.6
0.4
1.0
MDDSC009
51.0
53.0
2.0
0.6
0.0
0.6
MDDSC009
67.0
68.7
1.7
2.5
0.0
2.5
MDDSC009
84.0
85.0
1.0
1.0
0.0
1.0
MDDSC010
41.0
41.6
0.6
20.6
0.0
20.6
MDDSC010
47.0
48.9
1.9
1.0
0.0
1.0
MDDSC010
59.0
59.5
0.5
0.6
0.0
0.6
MDDSC010
70.0
79.0
9.0
4.7
0.1
4.8
including
74.0
76.0
2.0
18.6
0.5
19.1
MDDSC010
82.0
84.3
2.3
0.9
0.0
0.9
MDDSC010
93.0
95.5
2.5
0.9
0.1
1.0
MDDSC010
98.0
101.1
3.1
10.8
1.6
12.4
including
100.0
101.2
1.2
25.7
4.1
29.8
MDDSC010
120.0
121.4
1.4
1.0
0.0
1.0
MDDSC011
55.0
56.0
1.0
0.9
0.0
0.9
MDDSC011
79.0
82.0
3.0
0.4
0.0
0.4
MDDSC011
99.0
101.0
2.0
2.0
0.0
2.0
MDDSC011
184.0
187.8
3.8
0.6
0.0
0.6
MDDSC012
74.0
74.7
0.7
0.9
0.2
1.1
MDDSC012
76.0
78.2
2.2
0.4
0.3
0.7
MDDSC012
141.0
141.6
0.6
0.7
0.1
0.8
MDDSC012
155.0
155.3
0.3
0.2
0.8
1.0
MDDSC012
178.0
180.8
2.8
4.0
0.3
4.3
including
178.0
178.8
0.8
11.4
0.9
12.3
MDDSC012
184.0
189.9
5.9
1.7
0.1
1.8
including
185.0
186.0
1.0
4.3
0.8
5.1
MDDSC012
196.0
200.3
4.3
2.2
0.2
2.4
including
196.0
197.0
1.0
5.9
0.3
6.2
MDDSC012
203.0
213.4
10.4
5.4
1.0
6.4
including
207.0
207.2
0.2
37.3
12.0
49.2
including
209.0
211.2
2.2
15.8
3.3
19.2
MDDSC012
226.0
227.1
1.1
1.4
0.0
1.4
Note: (1) The true thickness of the mineralized interval is interpreted to be approximately 70% of the sampled thickness.
Table 4: Individual assay data (Au>0.3g/t) from drill holes reported in this press release.
Hole_ID
From (m)
To (m)
Width(1) (m)
Au g/t
Sb%
MDDSC011
54.0
55.0
1.0
0.3
0.0
MDDSC011
55.0
56.0
1.0
0.9
0.0
MDDSC011
79.0
80.0
1.0
0.5
0.0
MDDSC011
81.0
82.0
1.0
0.6
0.0
MDDSC011
99.0
100.0
1.0
0.9
0.0
MDDSC011
100.0
101.0
1.0
3.1
0.0
MDDSC011
150.5
151.3
0.8
0.3
0.0
MDDSC011
184.2
185.2
1.0
1.0
0.0
MDDSC011
186.7
187.0
0.3
0.9
0.0
MDDSC011
187.0
188.0
1.0
0.7
0.0
MDDSC011
188.0
189.0
1.0
0.4
0.0
MDDSC012
73.6
74.3
0.7
0.9
0.2
MDDSC012
74.3
75.0
0.7
0.5
0.0
MDDSC012
75.0
75.5
0.5
0.4
0.0
MDDSC012
75.5
76.4
0.9
0.4
0.0
MDDSC012
76.4
77.8
1.4
0.5
0.0
MDDSC012
140.9
141.5
0.6
0.7
0.1
MDDSC012
177.0
177.3
0.3
0.3
0.0
MDDSC012
177.3
178.2
0.9
0.4
0.0
MDDSC012
178.2
179.0
0.8
11.4
0.9
MDDSC012
179.0
180.0
1.0
1.1
0.0
MDDSC012
180.0
181.0
1.0
1.0
0.1
MDDSC012
181.0
182.0
1.0
0.4
0.0
MDDSC012
183.0
184.1
1.1
0.4
0.0
MDDSC012
184.1
185.0
0.9
0.7
0.0
MDDSC012
185.0
186.0
1.0
4.3
0.8
MDDSC012
186.0
187.0
1.0
1.6
0.0
MDDSC012
187.0
188.0
1.0
1.6
0.0
MDDSC012
188.0
189.0
1.0
1.1
0.0
MDDSC012
189.0
190.0
1.0
0.6
0.0
MDDSC012
195.8
196.8
1.0
5.9
0.3
MDDSC012
196.8
197.6
0.9
0.9
0.0
MDDSC012
197.6
199.0
1.4
1.6
0.2
MDDSC012
199.0
200.0
1.0
0.5
0.0
MDDSC012
203.0
204.0
1.0
0.9
0.0
MDDSC012
204.0
205.0
1.0
2.7
0.5
MDDSC012
205.0
206.0
1.0
2.2
0.1
MDDSC012
206.9
207.1
0.2
37.3
12.0
MDDSC012
207.1
208.2
1.1
2.1
0.0
MDDSC012
208.2
208.8
0.6
2.8
0.1
MDDSC012
208.8
209.7
0.9
8.6
1.1
MDDSC012
209.7
210.4
0.8
29.7
7.9
MDDSC012
210.4
211.0
0.6
8.8
0.8
MDDSC012
211.0
212.0
1.0
1.6
0.2
MDDSC012
212.0
213.0
1.0
0.4
0.1
MDDSC012
213.0
213.4
0.4
4.0
0.1
MDDSC012
226.4
227.5
1.1
1.4
0.0
Note: (1) The true thickness of the mineralized interval is interpreted to be approximately 70% of the sampled thickness.