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Mawson Drills 7.0 metres at 6.0 g/t Gold and 3.4 metres at 9.7 g/t Gold at Sunday Creek in Victoria, Australia

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Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF - https://www.commodity-tv.com/ondemand/companies/profil/mawson-gold-ltd/is pleased to announce assay results from five further drill holes (MDDSC006-10) from the 100%-owned Sunday Creek project in the Victorian Goldfields of Australia. All holes were drilled at the historic Gladys mine area. The project is an epizonal-style gold prospect located 56 kilometres north of Melbourne and contained within 19,365 hectares of granted exploration tenements.

Highlights: 

  • Diamond drillhole MDDSC0010 intersected 0 metres @ 6.0 g/t gold from 72.4 metres including 2.0 metres @ 18.5 g/t gold from 73.9 metres and 3.4 metres @ 9.7 g/t gold from 97.9 metres including 0.3 metres @ 72.9 g/t gold from 101.0 metres while testing the down dip extensions of the historic Gladys mine area. Antimony results are awaited. (Tables 1-3, Figures 1 and 2).
  • Diamond drillhole MDDSC008, drilled 60 metres above MDDSC010, intersected 1 metres @ 7.6 g/t gold, 1.7% antimony from 67.7 metres including 0.7 metres @ 21.5 g/t gold and 5.0 % antimony from 73.9 metres and 0.2 metres @ 8.0 g/t gold, 3.9 % antimony from 95.0 metres;
  • Diamond drillhole MDDSC007, drilled 60 metres to the SW of MDDSC010, intersected a broad 20 metre lower grade zone from 76.2 metres, that included 8 metres @ 2.2 g/t gold, 0.4 % antimony from 76.2 metres including 0.4 metres @ 22.3 g/t gold and 3.2 % antimony from 78.6 metres;
  • Twelve drill holes (MDDSC001-012) with one hole in progress (MDDSC0013A) and one hole abandoned (MDDSC0013) for 1,955.4 metres have been now completed at the Sunday Creekgold project. Drilling continues.

Michael Hudson, CEO, states: “Sunday Creek continues to deliver with our first results from the Gladys mine area. Encouragingly the deepest hole, MDDSC010, reported here contains the best result reported to date from Gladys, and is reflective of drilling now testing below historic mined areas. Mawson has now drilled strong gold results from three individual sheeted vein structures: Apollo, Central and now Gladys.  All areas remain open towards depth. Additionally, significant strike potential remains untested over 500 metres between and below historic mines, before we consider stepping out into the 11 kilometre historic mine trend.”

At Sunday Creek, historic gold mining occurred between 1880-1920 over a greater than 11 kilometre trend. Drilling during 1990-2000s focused on shallow, previously mined surface workings, covering an area of 100 metres in width, 800 metres length but, only to 80 metres average depth. As such, the entire field remains open along strike and to depth.

Within this, Gladys was the longest worked field on the historic project in the late 1800s and early 1900s, extending over 110 metres in a series of sheeted stibnite-rich veins, predominately hosted within a cataclastic faulted siltstone. Variable amounts of felsic dyke are present, but mineralization is not as intimately associated with the dykes compared to other areas on the project (ie the Apollo mine area). 

A series of historic shallow aircore holes tested Gladys in the mid-1990s. Mawson results are in keeping with or exceed the shallow drillholes that tested oxide mineralization (Figure 2). Better historic results include:

  • CRC028: 19 metres @ 2.7 g/t Au from 6 metres
  • CRC026: 8 metres @ 6.3 g/t Au from 9 metres
  • CRC006: 13 metres @ 3.4 g/t Au from 17 metres
  • CRC007: 15 metres @ 2.9 g/t Au from 7 metres

Five diamond drill holes (MDDSC006-10) from Gladys are reported here (Tables 1-3, Figure 1):

  • MDDSC006, drilled 50 metres up dip from MDDSC010, intersected 0.6 metres @ 4.4% antimony, with no gold returning in assay, despite the presence of visible gold being noted.
  • MDDSC007, drilled 60 metres to the SW of MDDSC010, intersected a broad 20 metre lower grade zone from 76.2 metres, that included 8 metres @ 2.2 g/t gold, 0.4% antimony from 76.2 metres including 0.4 metres @ 22.3 g/t gold and 3.2% antimony from 78.6 metres.
  • MDDSC008, drilled 60 metres up dip of MDDSC010, intersected 1 metres @ 7.6 g/t gold, 1.7% antimony from 67.7 metres including 0.7 metres @ 21.5 g/t gold and 5.0% antimony from 73.9 metres and 0.2 metres @ 8.0 g/t gold, 3.9% antimony from 95.0 metres.
  • MDDSC009, drilled 50 metres NW from MDDSC010, intersected a broad zones of lower grade gold, with the best result being 1.7m @ 2.4 g/t Au from 67 metres. Antimony results are awaited.
  • MDDSC0010 intersected 0 metres @ 6.0 g/t gold from 72.4 metres including 2.0 metres @ 18.5 g/t gold from 73.9 metres and 3.4 metres @ 9.7 g/t gold from 97.9 metres including 0.3 metres @ 72.9 g/t gold from 101.0 metres while testing the down dip extensions of the historic Gladys mine area. Antimony results are awaited.

Mineralization at Sunday Creek is hosted in late-Silurian to early-Devonian-aged shales and siltstones containing a series of dykes of felsic-intermediate composition. Gold is concentrated mainly in and around the EW to NE-SW trending felsic dykes, within predominately NW oriented brittle multiple sheeted veins and cataclastic zones. Individual high-grade quartz-stibnite veins at Apollo and Golden Dyke, and cataclastic zones at Gladys were the focus of historical mining at Sunday Creek. These zones have been proven to continue to depth by Mawson. Broader vein-hosted and cataclastic mineralization grading less than 15 g/t gold appears untouched by the historic miners.

Mawson has now drilled strong gold results from multiple sheeted vein structures within a 200 metre by 150m area (Figure 1) with over 500 metres strike to test between historic mines, before drilling will step out to test the broader 11 kilometre historic mine trend.  Better results from individual structures include:

  • Apollo (ie: drill hole MDDSC005: 4.2 metres @ 3.4 g/t gold from 88.0 metres and 11.8 metres @ 3.1 g/t gold from 123.7 metres),
  • Central (ie: drillhole MDDSC002: 5.0 metres @ 5.2 g/t gold from 53.8 metres and 21.0 metres @ 3.4 g/t gold from 109.0 metres) and now
  • Gladys (ie: drillhole MDDSC0010: 0 metres @ 6.0 g/t gold from 72.4 metres including 2.0 metres @ 18.5 g/t gold from 73.9 metres and 3.4 metres @ 9.7 g/t gold from 97.9 metres including 0.3 metres @ 72.9 g/t gold from 101.0 metres).

Mawson has now completed twelve drill holes (MDDSC001-012) with one hole in progress (MDDSC0013A) and one hole abandoned (MDDSC0013) for 1,955.4 metres at the Sunday Creek gold. Drilling continues. Assays from 10 out of the 12 completed holes have been released. Geophysical surveys (3D induced polarization and ground magnetics) have been completed.

Technical and Environmental Background

Tables 1–3 provide collar and assay data. The true thickness of the mineralized interval is interpreted to be approximately 70% of the sampled thickness. Gold-only intersections are reported with a lower-cut of 0.5 g/t gold over a 2.5 metre width except on the edge of calculated intervals where 1 metre @ >2.0 g/t gold was applied. No upper cut-off was applied.

A diamond drill rig from contractor Starwest Pty Ltd was used in the program. Core diameter is HQ (63.5 mm) and oriented with excellent core recoveries averaging close to 100% in both oxidized and fresh rock. After photographing and logging in Mawson’s core logging facilities in Nagambie, intervals were diamond sawn in half by Mawson personnel. Half core is retained for verification and reference purposes. Analytical samples are transported to On Site Laboratory Services’ Bendigo facility which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis use aqua regia digest and ICP-MS methods. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content and blanks within interpreted mineralized rock. In addition, On Site inserts blanks and standards into the analytical process.

None of the historic drill data quoted have been independently verified at this time. These historical data have not been verified by Mawson and are quoted for information purposes only. Assay techniques for gold and antimony are unknown.

Qualified Person

Mr. Michael Hudson (FAusMM), Chairman and CEO 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 project in Finland. Mawson also owns or is joint venturing into three high-grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia and is well placed to add to its already significant gold-cobalt resource in Finland.

 

 

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, timing and successful completion of drill programs planned Sunday Creek, 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 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.

 

Figure 1: Plan location of the Sunday Creek Project showing 11 km trend of historic mines (bottom left) and location of historic mine areas and drilling (top).

 

Figure 2: Longitudinal Cross Section of the Gladys Mine Area showing Mawson drillholes MDDSC006-MDDSC0010 reported here.

 

 

 

Table 1: Collar information from Mawson’s drilling at the Sunday Creek Project

Coordinate Reference System GDA94, Zone 55 (EPSG:28355)

Area

HoleID

Easting

Northing

Dip

Azimuth

RL (m)

Depth (m)

Date Reported

Central

MDDSC001

331080

5867769

-55.5

283.3

318

67

October 07, 2020

Central

MDDSC002

331085

5867771

-65.6

241.9

318

150.3

October 27, 2020

Rising Sun

MDDSC003

330776

5867892

-65.2

240.2

295

127.7

October 27, 2020

Golden Dyke

MDDSC004

330637

5867822

-44

240.5

321

280

January 05, 2021

Apollo

MDDSC005

331029

5867798

-45.5

89.6

311

160.1

January 05, 2021

Gladys

MDDSC006

331023

5867799

-39.4

237.1

311

99.6

Here

Gladys

MDDSC007

330985

5867712

-42

70

321.5

150.8

Here

Gladys

MDDSC008

331044

5867763

-52

253.2

320

99.2

Here

Gladys

MDDSC009

331013

5867799

-50

260

311

105.9

Here

Gladys

MDDSC010

331033

5867798

-60

214

310.5

151.3

Here

Gladys

MDDSC011

331042

5867798

-55

270

310

215.8

TBA

Apollo

MDDSC012

331172

5867842

-60

252.4

309

262.9

TBA

Apollo

MDDSC013

331170

5867842

-68

223

309

43.4

Abandoned

Apollo

MDDSC013A

331170

5867842

-68

223

309

41.4

In progress

 

 

 

Table 2: Intersections from the Sunday Creek. Intersections are reported with a lower cut of 0.5 g/t Au cut over 2.5 metre width, except on the edges of the calculated intervals where 1 metre @ > 2.0 g/t Au was applied.

No upper cut-off was applied

HoleID

From (m)

To (m)

Width (m)

Au g/t

MDDSC001

0

15.2

15.2

3.7

including

10.4

11.0

0.6

17.9

MDDSC002

17.2

18.0

0.9

1.9

MDDSC002

26.5

26.7

0.3

6.0

MDDSC002

39.0

41.0

2.0

1.3

MDDSC002

50.0

52.0

2.0

0.8

MDDSC002

53.8

59.0

5.2

5.0

including

53.8

54.09

0.29

79.4

MDDSC002

76.0

76.5

0.5

1.1

MDDSC002

96.0

96.6

0.6

2.3

MDDSC002

109.0

130.0

21.0

3.4

including

109.0

110.1

1.1

22.3

MDDSC002

143.0

144.0

1.0

1.9

MDDSC003

71.7

79.6

7.9

1.8

MDDSC003

83.6

84.5

0.9

1.0

MDDSC003

91.5

92.0

0.5

0.6

MDDSC003

115.6

116.0

0.4

1.5

MDDSC003

117.0

118.7

1.7

0.8

MDDSC005

88.0

92.2

4.2

3.4

MDDSC005

99.3

99.6

0.2

1.3

MDDSC005

100.4

103.4

3.0

VOID

MDDSC005

107.1

107.7

0.6

2.3

MDDSC005

108.8

109.0

0.2

3.0

MDDSC005

119.8

120.2

0.4

2.5

MDDSC005

122.9

123.2

0.3

2.0

MDDSC005

123.7

135.2

11.5

3.3

including

123.7

123.8

0.1

52.6

including

128.2

128.6

0.3

17.9

including

133.5

133.7

0.3

45.1

MDDSC005

88.0

135.5

47.5

1.3

MDDSC006

28.7

29.7

1.0

2.2

MDDSC006

32.7

33.5

0.8

0.9

MDDSC006

57.0

57.5

0.6

0.0

MDDSC007

76.2

82.0

5.8

2.2

including

78.6

78.9

0.4

22.3

MDDSC008

13.0

14.0

1.0

0.9

MDDSC008

15.0

16.0

1.0

0.4

MDDSC008

22.1

22.8

0.6

0.4

MDDSC008

25.7

26.6

0.9

1.4

MDDSC008

27.5

28.4

0.9

0.3

MDDSC008

31.2

33.6

2.5

1.0

MDDSC008

35.3

36.3

1.0

0.4

MDDSC008

67.7

69.8

2.1

7.6

including

67.7

68.4

0.7

21.5

MDDSC008

95.0

95.2

0.2

8.0

MDDSC009

23.8

26.2

2.4

0.5

MDDSC009

29.0

30.2

1.2

0.6

MDDSC009

30.5

30.7

0.2

0.9

MDDSC009

51.0

53.0

2.0

0.6

MDDSC009

67.0

68.7

1.7

2.4

MDDSC009

84.5

85.5

1.0

0.9

MDDSC010

39.5

42.5

3.1

4.3

including

40.9

41.5

0.6

19.2

MDDSC010

47.0

49.2

2.2

1.0

MDDSC010

50.2

50.4

0.2

0.4

MDDSC010

59.4

59.9

0.5

0.6

MDDSC010

70.4

70.6

0.2

0.7

MDDSC010

72.4

79.3

7.0

6.0

including

73.9

75.9

2.0

18.5

MDDSC010

82.3

84.6

2.3

0.9

MDDSC010

91.9

95.3

3.5

0.7

MDDSC010

97.9

101.3

3.4

9.7

including

101.0

101.3

0.3

72.9

MDDSC010

120.0

121.4

1.4

1.0

 

 

 

 

 

Table 3: Individual assay data (Au>0.3g/t) from drill holes reported in this press release.

 

HoleID

From (m)

To (m)

Width (m)

Au g/t

MDDSC006

28.7

29.7

1

2.21

MDDSC006

32.7

32.9

0.2

1.02

MDDSC006

32.9

33.5

0.6

0.84

MDDSC007

76.2

76.54

0.34

7.9

MDDSC007

76.54

77.2

0.66

0.46

MDDSC007

78.55

78.9

0.35

22.3

MDDSC007

78.9

79.9

1

0.54

MDDSC007

79.9

80.9

1

0.58

MDDSC007

81.26

81.98

0.72

0.65

MDDSC007

82.5

82.81

0.31

0.4

MDDSC007

83.95

84.87

0.92

0.3

MDDSC007

84.87

85.02

0.15

0.51

MDDSC007

85.02

86

0.98

0.64

MDDSC007

86.72

87.72

1

0.52

MDDSC007

87.72

88.72

1

0.89

MDDSC007

88.72

89.47

0.75

0.59

MDDSC007

89.47

89.7

0.23

0.32

MDDSC007

89.7

90.09

0.39

0.52

MDDSC007

90.09

90.25

0.16

0.79

MDDSC007

90.25

91.04

0.79

0.36

MDDSC007

95.94

96.37

0.43

0.6

MDDSC007

96.37

96.69

0.32

0.5

MDDSC008

5.25

6

0.75

0.45

MDDSC008

13

14

1

0.94

MDDSC008

15

16

1

0.42

MDDSC008

22.1

22.75

0.65

0.35

MDDSC008

25.7

26.6

0.9

1.4

MDDSC008

27.53

28.4

0.87

0.33

MDDSC008

31.19

31.8

0.61

0.34

MDDSC008

31.8

32.7

0.9

1.93

MDDSC008

32.7

33.64

0.94

0.52

MDDSC008

35.28

36.28

1

0.36

MDDSC008

67.19

67.35

0.16

0.3

MDDSC008

67.69

67.89

0.2

20.1

MDDSC008

67.89

68.4

0.51

22

MDDSC008

68.4

69.75

1.35

0.36

MDDSC008

95

95.15

0.15

8

MDDSC009

23.8

24.42

0.62

0.51

MDDSC009

24.42

25

0.58

0.44

MDDSC009

25

25.77

0.77

0.39

MDDSC009

25.77

26

0.23

0.89

MDDSC009

26

26.2

0.2

0.66

MDDSC009

29

29.41

0.41

0.56

MDDSC009

29.41

30.17

0.76

0.68

MDDSC009

30.17

30.31

0.14

0.3

MDDSC009

30.52

30.73

0.21

0.85

MDDSC009

51

52

1

0.63

MDDSC009

52

53

1

0.54

MDDSC009

67

67.6

0.6

3.58

MDDSC009

67.6

68.7

1.1

1.77

MDDSC009

84.5

85.5

1

0.9

MDDSC010

31.19

31.3

0.11

0.45

MDDSC010

39.45

40.3

0.85

0.91

MDDSC010

40.3

40.5

0.2

0.73

MDDSC010

40.5

40.9

0.4

1.6

MDDSC010

40.9

41.5

0.6

19.2

MDDSC010

42.1

42.5

0.4

0.41

MDDSC010

47.03

47.18

0.15

0.89

MDDSC010

47.18

47.9

0.72

0.5

MDDSC010

47.9

48.9

1

1.51

MDDSC010

48.9

49.22

0.32

0.43

MDDSC010

50.15

50.39

0.24

0.35

MDDSC010

59.38

59.88

0.5

0.64

MDDSC010

70.37

70.58

0.21

0.67

MDDSC010

72.37

73.2

0.83

1.22

MDDSC010

73.2

73.62

0.42

0.6

MDDSC010

73.62

73.88

0.26

2.08

MDDSC010

73.88

74.22

0.34

27.1

MDDSC010

74.22

74.8

0.58

1.38

MDDSC010

74.8

75.23

0.43

36.4

MDDSC010

75.23

75.85

0.62

17.4

MDDSC010

75.85

76.65

0.8

1.14

MDDSC010

76.65

77.65

1

0.65

MDDSC010

77.65

78.34

0.69

1.15

MDDSC010

78.34

79.34

1

1.28

MDDSC010

82.32

82.6

0.28

2.23

MDDSC010

82.6

83.6

1

0.65

MDDSC010

83.6

84.6

1

0.81

MDDSC010

91.88

92.85

0.97

0.31

MDDSC010

92.85

93.85

1

0.62

MDDSC010

93.85

94.85

1

1.23

MDDSC010

94.85

95.34

0.49

0.87

MDDSC010

96.8

97.54

0.74

0.39

MDDSC010

97.85

98.16

0.31

0.36

MDDSC010

98.16

98.5

0.34

0.68

MDDSC010

98.5

98.86

0.36

1.54

MDDSC010

98.86

99.84

0.98

2.06

MDDSC010

99.84

100.11

0.27

2.47

MDDSC010

100.11

100.48

0.37

8.5

MDDSC010

100.48

100.95

0.47

5.36

MDDSC010

100.95

101.28

0.33

72.9

MDDSC010

120

120.18

0.18

1.24

MDDSC010

120.18

120.83

0.65

1.02

MDDSC010

120.83

121.39

0.56

0.78

 

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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.

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