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Mawson Starts Drilling and Increases Land Position to 785 sq km in the Mount Isa Block Queensland, Australia
VANCOUVER, BC / ACCESSWIRE / October 19, 2020 / Mawson Gold Limited ("Mawson") or (the ...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson Starts Drilling and Increases Land Position to 785 sq km in the Mount Isa Block Queensland, AustraliaVANCOUVER, BC / ACCESSWIRE / October 19, 2020 / Mawson Gold Limited (\"Mawson\") or (the \"Company\") (TSX:MAW)(Frankfurt:MXR)(PINKSHEETS:MWSNF) is pleased to announce that Mawson has commenced drilling on a combined large-scale gravity/magnetic target under deep cover within the Mount Isa block, northwest Queensland, Australia. Additionally, the Company has applied for an additional 312 square kilometres of exploration permits for a total position of 785 square kilometres of granted exploration licences and applications.Highlights: A grant of $200,000 under the Collaborative Exploration Initiative (\"CEI\") from the Queensland government will fully fund one +800 metre long drill hole to test a coherent and large undrilled multi-point 1.95 mgal residual gravity anomaly (\"F11\") with an adjacent magnetic high. The anomaly has a shallow peak of 700 metres depth and average depth of 1,000-1,500 metres. A video of the inverted magnetic and gravity model can be viewed HERE. Depth of cover is estimated to be >300 metres (Figure 1);Meanwhile, Mawson has increased its mineral tenure by 65% and applied for an additional 312 square kilometres of exploration permits for a total position of 785 square kilometres of granted exploration licences and applications in the Cloncurry district of the Mount Isa block, over a combined 60 kilometres of strike.Mr. Hudson, Chairman and CEO, states, \"Mawson raised significant funds back in May, and is now executing with four rigs turning on three projects through Finland and Australia. This government-backed and fully funded drill test of a large, and untested combined gravity and magnetic target in Mount Isa is an exciting moment. The Mount Isa Block is true elephant country and contains 5% of the world's silver resources, 1.7% of the world's copper resources, 21.2% of the world's lead resources and 11% of the world's zinc resources within numerous world-class mines, and extends to the south almost as far under 100-500 metres of cover as it extends on the surface.\" The F11 gravity target is structurally well positioned. It is located lateral to the interpreted trace of the Cloncurry Fault, a significant regional structure with many splays evident in the seismic line interpretations. South32 ...