Includes 1.3 m @ 52.6 g/t Gold from 730.0 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 released results from five navigational diamond drill holes (SDDSC050W1, 050W2, 092W1, 092W2 and 092W3) at the Rising Sun prospect, at the 100%-owned Sunday Creek Gold-Antimony Project in Victoria (Figure 5).
Highlights:
- The NAVI drill program successfully demonstrated:
- Predictability of structure: mineralised vein sets were intercepted as planned.
- Predictability of grade: The Coefficient of Variation (“CV”) maintained a consistently low value before and after detailed drilling in each vein set, providing confidence in the geological model and consistency of grade within the model.
- Additional gold-antimony mineralised vein sets were discovered by the detailed drilling.
- The successful execution of the detailed drill program demonstrated it will be a key method during future infill drill programs.
- SDDSC050W2 successfully confirmed geological and grade continuity of four high-grade vein sets. Selected highlights include:
- 1.3 m @ 52.6 g/t AuEq (52.6 g/t Au, 0.0% Sb) from 730.0 m
- 0.1 m @ 173.0 g/t AuEq (173.0 g/t Au, 0.0% Sb) from 739.1 m
- SDDSC092W3 intercepted extensive untested mineralisation as well as confirming geological continuity at 15 m to 30 m separation from mineralisation defined in the parent hole. Selected highlights include:
- 0.6 m @ 10.1 g/t AuEq (6.3 g/t Au, 2.0% Sb) from 636.1 m, including:
- 0.5 m @ 11.4 g/t AuEq (7.3 g/t Au, 2.1% Sb) from 636.1 m
- 0.2 m @ 29.8 g/t AuEq (9.1 g/t Au, 11.0% Sb) from 663.1 m
- 3.4 m @ 3.1 g/t AuEq (0.9 g/t Au, 1.2% Sb) from 666.9 m, including:
- 0.7 m @ 13.9 g/t AuEq (4.0 g/t Au, 5.3% Sb) from 669.6 m
- 0.3 m @ 81.4 g/t AuEq (62.2 g/t Au, 10.2% Sb) from 674.3 m
- 8.5 m @ 1.4 g/t AuEq (0.6 g/t Au, 0.4% Sb) from 683.8 m
- 1.7 m @ 4.6 g/t AuEq (1.7 g/t Au, 1.5% Sb) from 696.3 m, including:
- 0.4 m @ 15.8 g/t AuEq (3.8 g/t Au, 6.4% Sb) from 697.6 m
- 0.6 m @ 10.1 g/t AuEq (6.3 g/t Au, 2.0% Sb) from 636.1 m, including:
- Ongoing Exploration: 60 km of diamond drilling is planned at Sunday Creek over the next year. Twelve 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$296.5 million (C$270.2 million) based on SXG’s closing price on November 12, 2024 AEDT.