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Mawson Update On The Redcastle Epizonal Gold Project, Victoria, Australia
VANCOUVER, BC / ACCESSWIRE / February 22, 2022 / Mawson Gold Limited ("Mawson" or the "...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson Update On The Redcastle Epizonal Gold Project, Victoria, AustraliaVANCOUVER, BC / ACCESSWIRE / February 22, 2022 / Mawson Gold Limited (\"Mawson\" or the \"Company\") (TSX:MAW)(FRA:MXR)(OTC PINK:MWSNF) is pleased to announce results and future plans for the Redcastle epizonal gold -antimony (\"Au-Sb\") joint venture project in the Victorian Goldfields of Australia. The project is located 120 km north of Melbourne (Figure 1) within 56.7 sq. km of granted exploration tenements, immediately along strike from Mandalay Resources' Costerfield mine (Figure 2), the sixth highest-grade global underground mine in 2020.Work at Redcastle during the 70% earn-in period has been undertaken by Mawson Victoria Pty Ltd (\" Mawson Victoria \"). Mawson Victoria was recently transferred from Mawson Gold Ltd to Southern Cross Gold Pty Ltd (\" Southern Cross \") as part of a larger internal reorganization.Southern Cross holds three historic epizonal gold fields (Sunday Creek, Whroo and Redcastle) and is working towards a proposed initial public offering (\" IPO \") on the Australian Securities Exchange (\" ASX \"). As at the date of this news release, 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.Highlights:Mawson Victoria has explored below historic mines with deep drilling and modern exploration techniques, with highlights from a 16-hole diamond drill program including:0.5 metres @ 9.1 g/t Au from 76.3 metres in hole MDDRE010 from the Mullocky prospect;0.1 metres @ 7.2 g/t Au from 148.2 metres in hole MDDRE008 from the Clarke's prospect;0.3 metres @ 4.2 g/t Au and 1.2% Sb from 52.7 metres in hole MDDRE009a from the Redcastle North prospect.1-km-long 3D induced polarization anomaly (\" 3DIP \") defined under the Welcome Group of mines where 8,669.5 tonnes at 103.6 g/t Au for 28,850 oz were produced from 19th century mines.Sampled 73 g/t Au/3,500 ppm Sb, 0.2 g/t Au/26 ppm Sb and 5.0 g/t Au/3,200 ppm Sb from rock chips at Black Squall coincident with a 750 metre x 500 metre Sb soil anomaly.Six drill ready targets : the Welcome Group of Mines, Clarke's Mine, Redcastle North, Mullocky, Beautiful Venus and Mitchell's Dam.Seventeen kilometres of mineralized structures with historic mining, along strike from Costerfield, remain to be ...