Toronto Stock Exchange: MAW www.mawsongold.com
Vancouver, British Columbia / ACCESSWIRE / December 13, 2021 / Mawson Gold Limited ("Mawson" or "Company") (TSX code: MAW) (Frankfurt code: MXR) (OTC code: MWSNF) I am pleased to announce the results of the analysis of the three diamond drill bits drilled in the Sunday Creek project (MDDSC023-25), which is 100% owned by the gold mining area in Victoria, Australia. The Sunday Creek watchband gold mine project is located 56 kilometers north of Melbourne and covers an area of 19,365 hectares. It has been approved for exploration rights.
Executive Chairman Michael Hudson said: “Sunday Creek is one of the best discoveries of the modern revival of Victorian gold mines. With bolder and larger steps out, the project will continue to be delivered. We have so far The deepest pit in this project has intersected with the highest grade and width we have seen. This is the eighth intersection of more than 100 "grade (g/t) x width (m)" in this project. The mineralization is at depth The place remained open, and the system continued to cover 10 kilometers of historic mines to the east without conducting a drilling test."
MDDSC025 is a large step located 380 meters east of MDDSC021 (Figure 1). This is the deepest intersection drilled before the project (21.7 meters @ 4.7 g/ton gold and 1.0% Sb (5.6 g/ton AuEq, from 274.7) M) (Picture 2) MDDSC025 (Picture 3) intersect:
Gladys MDDSC024 meters, drilled 180 meters southwest of MDDSC025, intersect:
Rising Sun's MDDSC022 and Gladys' MDDSC023 did not intersect significant mineralization (Figure 1).
Since mid-2021, Mawson has completed 26 drill holes (MDDSC001-026) on the Sunday Creek Gold Antimony Project with a depth of 6,447.8 meters (Figures 1 and 2). The test results of 25 of the 26 final holes have been published. After the Whroo JV project has completed two diamond drill holes, the rig will return to Sunday Creek in January 2022. Geophysical surveys (3D induced polarization and geomagnetism) and detailed LiDAR surveys have been completed. Mawson also completed a 1,200-point soil sampling program on Sunday Creek, which extends northeast from the drilling area, to test the 11-kilometer mineralization trend of the historically mined skin veins in the Mawson tenure area. The integration of lidar, soil sampling data, cuttings and geophysics is the key to the expansion of the project.
Previously announced the spin-off of Mawson’s Australian assets into a new entity, Southern Cross Gold Pty Ltd. ("Southern Cross Gold") through an initial public offering ("IPO"), in order to enter the official list of ASX Limited ("ASX") or "Australia" The stock exchange") is progressing smoothly. The principled proposal submitted by Southern Cross Gold supports the suitability of Southern Cross Gold to join the official list of the Australian Securities Exchange, and has now received an affirmative reply from ASX. Southern Cross Gold will now enter the pre-IPO stage of private equity financing to provide funding for the continued exploration, drilling, working capital and IPO expenses of senior and professional ("accredited") investors in Australia.
Table 1-3 provides the collar and laboratory data. The true thickness of the mineralized interval is interpreted as approximately 60% of the sampled thickness. All drilling results cited have a lower cut of 0.3 g/ton of gold at a width of 2.0 meters, unless otherwise stated, the higher grades reported use 5 g/ton of gold at 1.0 meters. The laboratory copy and the quarter core field copy show that the mineralization is uniform and has a significant low gold nugget effect. The project used a diamond drill from the contractor Starwest Pty Ltd. The core diameter is HQ (63.5 mm) and is oriented with an excellent core recovery rate, which is close to 100% on average in oxidized rock and fresh rock. After photographing and logging at Mawson's core logging facility in Nagambie, Mawson personnel saw the spacer diamond in half. The half core is reserved for verification and reference. The analytical samples are transported to the Bendigo facility for on-site laboratory services, which operates under the ISO 9001 and NATA quality systems. Use fire analysis technology (PE01S method; 25 g charge) to prepare and analyze the gold in the sample, and then measure the gold in the solution with a flame atomic absorption spectrometer device. The samples used for multi-element analysis (BM011 and the required over-range method) were analyzed using aqua regia digestion and ICP-MS. Mawson's QA/QC program includes systematically inserting known gold content, quarter core copies, and blank certification standards in the mineralized rocks that are interpreted. In addition, blanks and standards are inserted into the analysis process on site.
Mawson believes that all elements included in the metal equivalent calculation have reasonable recovery potential. The gold equivalent (AuEq) is calculated based on the commodity price on March 21, 2021. The AuEq formula is as follows: AuEq(g/t) = (Aug/t) + (XX * Sb%), where XX = (US$5,600 /100) / (US$1,750/31.1035) Gold price = 1,750 US dollars/ounce, antimony price = USD 5,600/ton.
The company’s chief geologist, Dr. Nick Cook (FAusMM), is a qualified person as defined by National Instrument 43-101-Disclosure or Mineral Project Standards, and has prepared or reviewed the preparation of the scientific and technical information in this press release.
About Mawson Gold Limited (Toronto Stock Exchange: MAW, Frankfurt: MXR, OTPINK: MWSNF)
Mawson Gold Limited is an exploration and development company. Mawson is a leading Nordic Arctic exploration company focusing on Finland's flagship Rajapalot gold and cobalt project. Mawson also owns or is in joint venture to enter three high-grade, long-standing surface gold mines in Victoria, Australia, covering an area of 470 square kilometers, and is in a favorable position to increase its already important gold and cobalt resources in Finland.
On behalf of the board of directors,
1305-1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), company secretary, +1 (604) 685 9316, this email address has been protected by an anti-spam plug-in. You need to enable JavaScript to view it.
This press release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively referred to as "forward-looking statements"). Except for statements of historical facts, all statements herein are forward-looking statements. Although Mawson believes that such statements are reasonable, there is no guarantee that such expectations will prove to be correct. Forward-looking statements are usually identified by the following words: beliefs, expectations, expectations, plans, estimates, assumptions, and similar expressions, or those that, by their nature, refer to future events. Mawson cautions investors that no forward-looking statements can guarantee future results or performance. Due to various factors, including but not limited to time and successful completion, actual results may differ materially from those in the forward-looking statements. The Whroo project’s exploration and drilling plan, Southern Cross Gold’s Pre-IPO private placement, initial public offering, and the timing and successful completion of the listing of Southern Cross Gold’s common stock on ASX, capital and other costs and estimates, changes are very different in the world In the metals market, changes in the stock market, pandemics, pandemics or other public health crises, including the impact of the current pandemic known as COVID-19 on the company’s business, related to negative publicity by the company or the mining industry Risks in general industry; planned drilling plans and results are different from expectations, delays in obtaining results, equipment failures, unexpected geological conditions, local community relations, contacts with non-governmental organizations, operating delays due to license grants, environmental and Security risks and other risks and uncertainties are disclosed under the heading "Risk Factors" in Mawson's latest annual information form submitted on www.sedar.com. Any forward-looking statements are only published on the date they are made, unless applicable securities laws may require, Mawson assumes no intention or obligation to update any forward-looking statements, whether due to new information, future events or results or otherwise.
Figure 1: According to this new version (MDDSC0022-25), the location of the historical mine and the Mawson drilling location of the Sunday Creek Project are planned.
Figure 2: Longitudinal ("long") section from Golden Dyke to the Apollo mine, highlighting the Mawson drill MDDSC0022-25 reported here.
Figure 3: A cross-section of the Apollo mine field showing MDDSC025 from the Mawson borehole reported here.
Figure 3: The marked HQ core (diameter 63.5 mm) shows the downhole depth and gold grade from MDDSC0025: 11.7 m @ 12.4 g/ton gold and 3.6% Sb (16.0 g/ton AuEq) from 362.0 m in the MDDSC025 hole, including 3.0 meters @ 41.4 g/t Au and 12.0% Sb (53.4 g/t AuEq) from 364.0 meters or 6.5 meters @ 20.6 g/t Au and 6.0% Sb (26.6 g/t AuEq) from 362.5 meters and 0.5 g/t AuEq @ 14.3 t Au and 4.4% Sb (18.7 g/t AuEq) at 370.8 meters.
Table 1: Collar information from Mawson's drilling at the Sunday Creek project. Coordinate reference system GDA94, zone 55 (EPSG:28355)
Note: (1) The actual thickness of the mineralized interval is interpreted as approximately 60-70% of the sampled thickness.
Table 2: Intersections drilled by Mawson on the Sunday Creek project. According to reports, the amount of gold cut at the intersection is low, 2.0 meters wide and 0.3 g/ton gold, and the higher grade is reported as 5 g/ton gold and 1.0 meters wide.
Note: (1) The actual thickness of the mineralized interval is interpreted as approximately 60% of the sampled thickness.
Table 3: Individual test data of drill holes reported in this press release (Au>0.3 g/t).
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