Includes 1.7 m @ 250.8 g/t Gold, 1.7% Antimony from 208.2 m
Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Company”) (TSXV:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces Southern Cross Gold Ltd. (“Southern Cross Gold” or “SXG”) has made a significant discovery expanding mineralization 260 m west of previous drilling, representing a 19% increase to 1,350 m in the known strike length at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria, Australia (Figure 4).
Results from six diamond drill holes (Figures 1 and 2) materially improve the prospectivity of Sunday Creek demonstrating that Christina has become the fourth high-grade gold-antimony prospect located 840 m, 480 m and 320 m west respectively from Apollo, Rising Sun and Golden Dyke.
Highlights:
- Seventh best intersection on project, in 260 m extension from prior drilling in first results from the historic Christina mine.
- These discoveries at Christina are located up to 650 m east of the exploration target estimation area.
- SDDSC137W2 successfully intercepted three high-grade vein sets and significant visible gold. Selected highlights include:
- 1.7 m @ 254.0 g/t AuEq (250.8 g/t Au, 1.7% Sb) from 208.2 m, including
- 0.3 @ 187.1 g/t AuEq (184 g/t Au, 1.7% Sb) from 208.2 m*
- 1.0 m @ 372.0 g/t AuEq (369 g/t Au, 1.6% Sb) from 209.0 m*
- 1.7 m @ 254.0 g/t AuEq (250.8 g/t Au, 1.7% Sb) from 208.2 m, including
- SDDSC137, drilled six high-grade vein sets over a 54 m down hole interval (27m estimated true width (“ETW”) adjacent to the Christina historic mining area. Selected highlights include:
- 3.8 m @ 11.8 g/t AuEq (10.2 g/t Au, 0.9% Sb) from 209.2 m, including
- 2.0 m @ 20.7 g/t AuEq (18.2 g/t Au, 1.3% Sb) from 210.0 m
- 1.3 m @ 36.9 g/t AuEq (35.0 g/t Au, 1.0% Sb) from 228.2 m
- 0.7 m @ 69.4 g/t AuEq (66.4 g/t Au, 1.6% Sb) from 228.6 m
- 3.8 m @ 11.8 g/t AuEq (10.2 g/t Au, 0.9% Sb) from 209.2 m, including
- Drillholes SDDSC131, 134 and 135 were designed to drill south to north as control holes to confirm the continuity of dyke and altered sediment (the “rails” of the ladder). A significant pyrite halo, altered sediment and dyke structure, commensurate with what is drilled for 1.3 km to the east, was confirmed. Selected highlights include from SDDSC134 (240 m west of previous drilling) include:
- 2.7 m @ 6.4 g/t AuEq (6.3 g/t Au, 0.0% Sb) from 110.6 m, including
- 0.8 m @ 17.1 g/t AuEq (17.0 g/t Au, 0.1% Sb) from 110.6 m
- 2.7 m @ 6.4 g/t AuEq (6.3 g/t Au, 0.0% Sb) from 110.6 m, including
- Ongoing Exploration: 60 km of diamond drilling planned at Sunday Creek over the next year. Sixteen holes are currently being processed and analysed with an additional five holes in progress. Five rigs are operating and a sixth rig is due late November 2024.
- Mawson owns 96,590,910 shares of SXG (48.7%), valuing its stake at A$312.0 million (C$286.2 million) based on SXG’s closing price on October 25, 2024 AEDT.