Highlights include 10.4 m @ 22.4 g/t gold equivalent ('AuEq') (18.6 g/t gold ('Au'), 2.4% antimony ('Sb')) from 542.2 m.
SDDSC066 successfully traversed across multiple (5) high-grade vein sets. Nine intervals >15 g/t Au (up to 188.8 g/t Au), and 6 intervals >5% Sb (up to 22.5% Sb) were intersected.
Sunday Creek is 100% owned by
Highlights: SDDSC066 (Figs 3-5) drilled from east to west intersected five main mineralized structures over a 312 m wide downhole interval with multiple high-grade intersections: 0.5 m @ 8.1 g/t AuEq (8.1 g/t Au, 0.0% Sb) from 240.1 m
0.3 m @ 17.4 g/t AuEq (4.4 g/t Au, 8.3% Sb) from 243.6 m
0.2 m @ 34.1 g/t AuEq (26.3 g/t Au, 5.0% Sb) from 297.2 m
10.5 m @ 5.8 g/t AuEq (4.2 g/t Au, 1.0% Sb) from 302.8 m, including: o 0.2 m @ 18.3 g/t AuEq (18.3 g/t Au, 0.0% Sb) from 306.2 m o 1.0 m @ 23.1 g/t AuEq (12.8 g/t Au, 6.5% Sb) from 308.0 m o 1.5 m @ 17.4 g/t AuEq (14.2 g/t Au, 2.0% Sb) from 311.0 m
7.8 m @ 5.4 g/t AuEq (4.0 g/t Au, 0.9 %Sb) from 401.3 m, including: o 0.4 m @ 42.7 g/t AuEq (28.1 g/t Au, 9.3% Sb) from 404.6 m o 0.2 m @ 44.0 g/t AuEq (40.5 g/t Au, 2.2% Sb) from 407.5 m
0.2 m @ 31.1 g/t AuEq (26.8 g/t Au, 2.7% Sb) from 408.9 m Highlights:
SDDSC066 results continued: 0.5 m @ 5.4 g/t AuEq (4.5 g/t Au, 0.6% Sb) from 431.8 m
0.2 m @ 18.9 g/t AuEq (8.4 g/t Au, 6.6% Sb) from 506.5 m
5.6 m @ 1.9 g/t AuEq (1.5 g/t Au, 0.3% Sb) from 522.8 m, including: o 0.5 m @ 8.4 g/t AuEq (6.7 g/t Au, 1.0% Sb) from 523.9 m
7.4 m @ 1.8 g/t AuEq (1.7 g/t Au, 0.1% Sb) from 531.9 m, including: o 0.8 m @ 13.9 g/t AuEq (13.3 g/t Au, 0.4% Sb) from 538.0 m
10.4 m @ 22.4 g/t AuEq (18.6 g/t Au, 2.4% Sb) from 542.2 m, including: o 1.0 m @ 224.3 g/t AuEq (188.8 g/t Au, 22.5% Sb) from 544.2 m o 0.8 m @ 10.6 g/t AuEq (7.3 g/t Au, 2.1% Sb) from 549.1 m
Mawson owns 93,750,000 shares of SXG (51%), valuing its stake at
SXG is now halfway through its 30,000 m drill campaign for 2023 and is fully funded and permitted to execute on its strategy across its 11 km mineralized trend at Sunday Creek. Given the regularity of high-grade veins, scale and continuity of mineralization, we are excited about the results which will continue to follow in the months ahead at what we consider to be one of the most exciting and high-grade gold discoveries anywhere in the world today.'
Results Discussion
SDDSC066 is the third best intersection on the Sunday Creek project to date, drilled at the east end of drilled mineralization at Sunday Creek (in the Apollo area). The hole was designed to test five main mineralized vein sets and intersected 312 m @ 1.4 g/t AuEq (1.1 g/t Au, 0.2% Sb) from 240.1 m (with no lower cut). This is the greatest down dip extension of mineralization to date on the eastern end of the main mineralized body at Sunday Creek. Highlights include 10.5 m @ 5.8 g/t AuEq (4.2 g/t Au, 1.0% Sb) from 302.8 m, 7.8 m @ 5.4 g/t AuEq (4.0 g/t Au, 0.9% Sb) from 401.3 m, and 10.4 m @ 22.4 g/t AuEq (18.6 g/t Au), 2.4% Sb from 542.2 m, including 1.0 m @ 224.3 g/t AuEq (188.8 g/t Au, 22.5% Sb). In total nine intervals >15 g/t Au (up to 188.8 g/t Au), and six intervals >5% Sb (up to 22.5% Sb) were intersected.
Specifically, SDDSC066 was drilled east to west sub-parallel to the host sequence, a zone of intensely altered 'bleached' sericite-albitic siltstones, and sericite-carbonate-albite altered dyke rocks that range from 50 m to 200 m wide. The hole was also drilled at a moderate to high angle to the north-west striking mineralized vein sets that regularly cross the host structure on a predominate north-west orientation and are typically 10 m to 40 m wide (cut off dependent), 20 m to 60 m along strike, and 300 m to 830 m down dip. Therefore, the hole was able to intersect five main mineralized structures over a 312 m wide downhole interval, while drilling inside the mineralized host.
For the first time a fibrous Pb-Sb sulphosalt, possibly boulangerite (Pb5Sb4S11), a diagnostic alteration mineral in other epizonal deposits, including Fosterville, was identified in void spaces in quartz at 262.5 m in SDDSC066 (Photo 1).
Further discussion and analysis of the Sunday Creek project by
Update on Current Drilling
Drilling with four rigs is in progress at Sunday Creek and up to 7.5 km north-east at the Tonstal, Consols and Leviathan prospects. Sixteen new holes (SDDSC067, 69-75 and SDDTS001-7, SDDCN001 and SDDLV001) are currently being geologically processed and analyzed, with four holes (SDDSC068, 76, 77 and SDDLV001) in drill progress.
Technical Background and Qualified Person
The Qualified Person,
Analytical samples are transported to the Bendigo facility of On Site Laboratory Services ('On Site') which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (PE01S method; 25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (BM011 and over-range methods as required) use aqua regia digestion and ICP-MS analysis. The QA/QC program of
MAW considers that both gold and antimony that are included in the gold equivalent calculation ('AuEq') have reasonable potential to be recovered at Sunday Creek, given current geochemical understanding, historic production statistics and geologically analogous mining operations. Historically, ore from Sunday Creek was treated onsite or shipped to the Costerfield mine, located 54 km to the northwest of the project, for processing during WW1. The Costerfield mine corridor, now owned by
About
Mawson Gold Limitedis an exploration and development company. Mawson has distinguished itself as a leading Nordic exploration company with its 100% owned flagship Rajapalot gold-cobalt project in
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Contact:
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Email: info@mawsongold.com
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
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