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Mawson Drills 5.6 metres @ 10.0 g/t AuEq in Deepest Hole at Sunday Creek, Victoria, Australia
VANCOUVER, BC / ACCESSWIRE / March 8, 2022 / Mawson Gold Limited ("Mawson" or the "Comp...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson Drills 5.6 metres @ 10.0 g/t AuEq in Deepest Hole at Sunday Creek, Victoria, AustraliaVANCOUVER, BC / ACCESSWIRE / March 8, 2022 / Mawson Gold Limited (\"Mawson\" or the \"Company\") (TSX:MAW)(FRA:MXR)(OTC PINK:MWSNF) is pleased to announce assay results from the deepest diamond drill hole (MDDSC026) drilled at the Sunday Creek project in the Victorian Goldfields of Australia. The Sunday Creek epizonal-style gold project is located 60 kilometres north of Melbourne and within 19,365 hectares of granted exploration tenements.Highlights:5.6 metres @ 9.2 g/t Au and 0.8% Sb (10.0 g/t AuEq) from 469.7 metres in hole MDDSC026, including:1.2 metres @ 36.2 g/t Au and 3.3% Sb (39.4 g/t AuEq) from 470.0 metres.Increases mineralization depth to 420 metres vertical, the deepest drill hole at Sunday Creek.Drilled on the same mineralized shoot 130 metres west and below previously reported MDDSC025, which intersected 11.7 metres @ 16.0 g/t AuEq from 362.0 metres (Tables 1-3, Figures 1-3).Prospectus to be lodged in March for the proposed spin-out of Mawson's Australian assets onto the Australian Securities Exchange (\"ASX\").Michael Hudson, Executive Chairman of Mawson and MD-elect for Southern Cross, states: \"With the last hole to report before we lodge Southern Cross Gold's prospectus, Sunday Creek continues to prove itself as one of the best discoveries to be made in the modern renaissance of the Victorian goldfields. Our deepest hole at the project to date, on a big step out on the Apollo structure is another extremely strong result. Mineralization remains open at depth and the system continues 10 kilometres to the east covering historic mines, without a single drill hole test.\"Exploration work at Sunday Creek over the last 18 months has been undertaken by Clonbinane Goldfield Pty Ltd (\"CGF\"). CGF owns 100% of the project and was recently transferred from Mawson Gold Ltd to Southern Cross Gold Ltd (\"Southern Cross\") as part of a larger internal reorganization ahead of Southern Cross' proposed initial public offering (\"IPO\") onto the ASX expected to be completed in Q2 2022. Today, Mawson holds 84.62% of Southern Cross' issued shares after recently raising A$2.725 million privately into Southern Cross to fund ongoing exploration and IPO costs.MDDSC026 is another large step-out, located 130 metres west of and below MDDSC025 (Figu...