Mawson’s Subsidiary SXG Drills 21.5 m @ 15.0 g/t AuEq in 350 Metre Step Out at Sunday Creek, Victoria, Australia
(PresseBox) - Mawson Gold Limited (“Mawson” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/mawson-gold-ltd/) (TSX:MAW) (Frankfurt:MXR) reports that its majority-owned Australian subsidiary, Southern Cross Gold Ltd (“SXG”), has reported further results from four drill holes at its 100% owned Sunday Creek property, Victoria, Australia. Mawson owns 60% of SXG following its recent initial public offering (“IPO”) on the Australian Securities Exchange (“ASX”).
Highlights for Mawson Shareholders:
Drill hole SDDSC046 contains the highest grades of gold intersected at Sunday Creek, on a new shoot ‘Rising Sun’ in a 350 m step out west of the ‘Apollo’ high-grade area. Highlights include:
5 m (at) 15.0 g/t AuEq (12.2 g/t Au and 1.7% Sb) from 183.6 m, including
1 m (at) 121.6 g/t AuEq (115.5 g/t Au and 3.9% Sb) from 199.0 m
Abundant visible gold and assays up to 380.3 g/t Au over 0.4 m (Photos 1-3)
17th >100 g/t AuEq * m result from the Sunday Creek project area.
Drill hole SDDSC043 drilled on the Rising Sun shoot 80 m below SDDSC046 and 45 m above MDDSC021 (21.7 m (at) 6.2 g/t AuEq) drilled
5 m (at) 2.4 g/t AuEq (1.1 g/t Au and 0.8% Sb) from 241.0 m, including
8 m (at) 4.8 g/t AuEq (3.0 g/t Au and 1.1% Sb) from 248.8 m
Drill hole SDDSC044 extending continuity of the Apollo shoot, highlights include
5 m (at) 11.3 g/t AuEq (11.3 g/t Au) from 172.5 m
6 m (at) 8.3 g/t AuEq (3.8 g/t Au and 2.8% Sb) from 242.3 m
Six holes pending assays, with drill testing three areas across 700 m strike and the deepest drilling to date undertaken.
Ivan Fairhall, Mawson CEO, states: “Another ‘best to date’ from SXG at Sunday Creek! This time the highest-grade mineralization to date, intersected in a new area at Rising Sun, located 350 metres from the Apollo shoot which included the earlier spectacular result in SDDSC033 of 119m at 3.9 g/t AuEq. Results like this reiterate the quality of SXG’s discovery in Victoria, home to the highest grade and 10th largest gold mine globally. Mawson remains SXG’s largest shareholder, as it focuses on its upcoming Rajapalot PEA to be released this month, and exploration programs in Finland and Sweden.”
Results Discussion
SXG reports that the developing Rising Sun shoot has now been tested to 260 m vertically below surface with single holes extending mineralization down the axis of the mineralized shoot and in the plane of the 50-100 m wide north dipping host sequence consisting of dioritic dykes and related intrusive breccias. Mineralized shoots at Sunday Creek are formed at the intersection of the sub-vertical to shallower dipping 330 degree striking mineralized veins and host breccia structure.
Further Information is attached.
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, Mawson’s expectations regarding its ownership interest in Southern Cross Gold, 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, risks related to negative publicity with respect to the Company or the mining industry in general; exploration potential being conceptual in nature, there being insufficient exploration to define a mineral resource on the Australian-projects owned by SXG, and uncertainty if further exploration will result in the determination of a mineral resource; 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.
Unternehmensinformation / Kurzprofil:
Datum: 04.10.2022 - 13:00 Uhr
Sprache: Deutsch
News-ID 668370
Anzahl Zeichen: 5536
contact information:
Contact person: Marc OllingerJochen Staiger
Town:
Vancouver, Canada
Phone: +41 (71) 354-8501+41 (71) 3548501
Kategorie:
Financial Services & Insurance
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