- Mawson Gold is announcing that its subsidiary, the 51-per-cent owned Southern Cross Gold, has hit up to 7,330 grams per tonne of gold at its Sunday Creek project in Victoria, Australia
- The drill hole in question, SDDSC107, is the first indication of high-grade gold continuity between intersections at Sunday Creek
- Mawson Gold has a more than 20-year track record of discovering and developing long-life, sustainable mineral resources in the Nordics and Australia
- Mawson Gold stock has added 87.50 per cent year-over-year, and 104.55 per cent since 2019
Mawson Gold (TSXV:MAW) is announcing that its subsidiary, the 51-per-cent owned Southern Cross Gold (ASX:SXG), has hit up to 7,330 grams per tonne (g/t) of gold at its Sunday Creek project in Victoria, Australia.
Drill hole SDDSC107 from the Rising Sun prospect returned gold-antimony mineralization across 12 high-grade vein sets. Highlight intervals include 455.3 m at 7.2 g/t gold from 413.6 m, including 0.3 m at 7,330 g/t gold within 1 m at 2,318 g/t gold, making SDDSC107 the highest-grade drill hole to date at Sunday Creek.
SDDSC107 contains 10 assayed intervals over 50 g/t gold and 13 intervals over 5 per cent antimony (Sb) up to 25.9 per cent Sb, and cumulatively returned 3,424 gold equivalent g/t per metre.
The drill hole is near SDDSC092, which yielded 3.3 m at 267.8 g/t gold, including 0.4 m at 1,610 g/t gold, providing the first indication of high-grade gold continuity between intersections at Sunday Creek. The company now has the opportunity to explore these ultra high-grade zones and build ounces beyond its initial exploration targets.
Readers can expect results from an additional 10 drill holes at Sunday Creek once processed and analyzed.
Southern Cross Gold owns or controls three high-grade, historic epizonal goldfields in Victoria, Australia, including Sunday Creek.
Mawson’s ownership stake in Southern Cross stands at 93,750,000 shares, which are valued at A$138.75 million (C$122.3 million) as of Tuesday.
“Sunday Creek has again delivered one of the hits of the year and the rebirth of the Victorian goldfields continues,” Michael Hudson, Mawson Gold’s interim chief executive officer and executive chairman, said in a statement. “This is an extraordinary global discovery with hole after hole exceeding previous exceptional drill results.”
Mawson Gold has a more than 20-year track record of discovering and developing long-life, sustainable mineral resources in the Nordics and Australia.
Mawson Gold (TSXV:MAW) is up by 18.42 per cent, trading at C$0.45 per share as of 9:49 am ET. The stock has added 87.50 per cent year-over-year, and 104.55 per cent since 2019.
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