Commodity-TV

The whole world of commodities in one App!

Watch Management & Expert Interviews, Site-Visit-Videos, News Shows and receive top and up to date Mining Information on your mobile device worldwide!

Download our unique App for free!
Commodity-TV Play Store
Commodity-TV App Store
Commodity-TV

Social Media


MAWSON COMPLETES DRILLING AT F11 TARGET MOUNT ISA SOUTHEAST PROJECT, AUSTRALIA

Receive up-to-date information about the company directly via push notification

Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Company”) (TSX: MAW) (Frankfurt: MXR) (PINKSHEETS: MWSNF - https://www.commodity-tv.com/play/mawson-gold-further-drilling-at-joki-east-discovery/) announces that it has completed drilling at the F11 target 50 kilometres to the south of Cannington silver-zinc-lead mine in the Mount Isa block (Figure 1), Queensland, Australia. Drill funding was supported by an AUD$200,000 grant under the Queensland State Government’s Collaborative Exploration Initiative (“CEI”).

Key points:

  • Iron sulphides and disseminated and veinlet chalcopyrite were intersected in intermittent zones throughout the drill hole;
  • Two main styles of sulphide accumulations were intersected:
  • The first style comprises pyrrhotite-rich zones with veinlets and disseminated chalcopyrite hosted by potassic-altered metasediments and mafic rocks; and
  • The second style is controlled by a 43 metre wide zone of brittle faults, fractures and cataclastic zones with pyrite-sericite-chlorite-graphite as the dominant alteration.
  • Samples have been submitted for assay and we expect to report these in January 2021.

The drill hole (MQDDH001) was drilled to 849.7 metres with basement rocks intersected at 318 metres. Based on results of Mawson’s gravity and magnetic surveys, the target source was modelled below the basement-cover contact within amphibolite facies metamorphic rocks to test a coherent and large undrilled multi-point 1.95 mgal residual gravity anomaly with an adjacent magnetic high. The anomaly has a shallow peak of 700 metres depth and average depth of 1,000-1,500 metres. Iron oxide copper-gold (IOCG) and Broken Hill-type silver-lead-zinc systems are the main target styles within Mawson’s Mount Isa Southeast Project. The pyritic fault zone intersected is possibly an extension of the regionally significant Cloncurry Fault.

Mr. Hudson, Chairman and CEO, states: "This government-backed and fully-funded drill test of a large, combined gravity and magnetic target in Mount Isa has tested true elephant country. We look forward to receiving assays and building on our exploration model for this poorly known part of one of the most prospective base metal terranes in the world.”

A presentation video of the background and initial geologic results of the drill hole by Mawson’s Chief Geologist, Dr. Nick Cook can be accessed from the following link. Representative photos and descriptions of drill core are presented in Photos 1-4 and drill hole collar coordinates are shown in Table 1.

One drill rig from DDH1 was used in the drill program. Core diameter was NQ2 (50.7 mm). Core recoveries are excellent and average close to 100% in fresh rock. After photographing and logging, core intervals were selectively sampled for assay. The remaining half core is retained for verification and reference purposes. Assay samples were photographed individually and submitted to ALSGlobal in Brisbane.

Qualified Person

Dr. Nick Cook (FAusIMM), Chief Geologist 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. More recently it has acquired three significant epizonal goldfields with a large tenement portfolio of 471 sq km in the Victorian Goldfields of Australia, which with the Mount Isa exploration permits in QLD, provide a strategic and diversified portfolio of high-quality gold exploration assets in two safe jurisdictions. Mawson will have nine drill rigs turning in four global gold projects during the remainder of 2020.

 

 

On behalf of the Board,

 

 

"Michael Hudson"                 

Michael Hudson, Chairman & CEO

 

Further Information

www.mawsongold.com

1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7

Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316,

[email protected]

 

In Europe:

Swiss Resource Capital AG

Jochen Staiger

[email protected]

www.resource-capital.ch

 

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, changes in world metal markets, changes in equity markets, the potential impact of epidemics, pandemics or other public health crises, including the current outbreak of the novel coronavirus 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.

 

 

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required
SRC Mining & Special Situations ZertifikatSRC Mining & Special Situations Zertifikat