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Mawson Acquires Option for 85% of the Skelleftea North Gold Project in Northern Sweden
VANCOUVER, BC / ACCESSWIRE / January 17, 2022 / Mawson Gold Limited ("Mawson") or (the ...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson Acquires Option for 85% of the Skelleftea North Gold Project in Northern SwedenVANCOUVER, BC / ACCESSWIRE / January 17, 2022 / Mawson Gold Limited (\"Mawson\") or (the \"Company\") (TSX:MAW)(Frankfurt:MXR)(OTC Pink:MWSNF) is pleased to announce the entering into an option and joint venture agreement (the \"Option Agreement\") to earn-in up to 85% of the 2,500 ha (\"hectare\") in the Skelleftea North Gold Project (\"Skelleftea North\", or the \"Project\") from Elemental Exploration Scandinavia AB (\"Elemental\"), a private company at arm's length to Mawson. Skelleftea is located in Northern Sweden 4 hours drive from Mawson's flagship Rajapalot project, making it complementary to Mawson's Nordic focus and experience base.Highlights:Multiple gold outcrops across the 3 km x 6 km permit area grading up to 15.1 g/t (12 samples, range 0.01 to 15.1 g/t Au, average 4.35 g/t Au).Drill ready target, with better channel samples including 3.8m at 4.5 g/t Au and 1.6m at 5.4 g/t.Located in renowned Skellefte Belt, a modern goldfield with over 6 million ounces of gold produced.Right to acquire up to 85% in the project over a 10-year period.Excellent strategic fit; leveraging local exploration team and track record, and consolidating the Nordic focus through addition of a year-round drilling prospect to complement our advanced Rajapalot project.Mr. Fairhall, CEO, states, \"Skelleftea North is a hugely exciting drill ready project, in a world-class mining belt, flanked by 4 mines that have extracted over 6 million ounces of gold combined. Fennoscandia is ripe for discovery and we have seen a race for ground and new discoveries resulting from un-precedented exploration activity in the region. Being almost completely covered by till, outcrops of this quality are rare in the Nordics - the last of which in Mawson's portfolio was Palokas, which underwrote our growing million-ounce gold equivalent discovery at Rajapalot. We will leverage that team's decade long experience in the region to advance this Project, thereby adding further value creation optionality for Mawson's shareholders.\"The Skelleftea North Gold Project consists of 2,500 ha of contiguous 100%-owned claims located in the well-endowed Skellefte Mining District of Northern Sweden, located 40 km north-northwest of the city of Skelleftea (Figure 1). The Skellefte Belt comprises a pol...