Business
Mawson's Subsidiary Southern Cross Gold Reports 17.3m @ 4.9 g/t AuEq Intersection at Sunday Creek
VANCOUVER, BC / ACCESSWIRE / May 25, 2022 / Mawson Gold Limited ("Mawson" or the "Compan...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson’s Subsidiary Southern Cross Gold Reports 17.3m @ 4.9 g/t AuEq Intersection at Sunday CreekVANCOUVER, BC / ACCESSWIRE / May 25, 2022 / Mawson Gold Limited (\"Mawson\" or the \"Company\") (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) reports that its majority-owned Australian subsidiary, Southern Cross Gold Ltd (\"SXG\"), has reported assay results from six diamond drill holes at its 100% owned Sunday Creek property, Victoria, Australia. Mawson now owns 60.3% of SXG following its recent initial public offering (\"IPO\") on the ASX.Highlights for Mawson Shareholders:SXG reports high grade gold intersections continue at Sunday Creek17.3m @ 4.9 g/t AuEq (3.9 g/t Au and 0.6% Sb) from 214.4m in hole SDDSC0319.8m @ 4.6 g/t AuEq (3.9 g/t Au and 0.5% Sb) from 55.5m in hole SDDSC032Sunday Creek now contains a total of twelve 100 g/t AuEq x m intersections (Figure 1)Further core drilled pre-IPO await assay.Assays are pending and drilling continues, with SXG's IPO funding an expected 24 month work programMawson's share of SXG has a market capitalization of ~C$17.0 million based on 24 th May closing price of A$0.20 per share.Ivan Fairhall, Mawson CEO, states : \"We are very pleased to highlight Southern Cross' continued success at Sunday Creek. We consider Sunday Creek one of the best discoveries in Victoria, and thankful that results like this could be bought forward by the funding accessed by spinning-out SXG onto the ASX. Southern Cross is now well funded to continue drilling and we look forward to more assays as the Sunday Creek discovery matures.In the meantime, Mawson focuses its attention on its maiden drill program at Skellefteå in Sweden, and PEA studies to underwrite value in its million-ounce gold equivalent inferred resource at Rajapalot in Finland.Drill Hole DiscussionDrill holes MDDSC0027 and SDDSC031-32 were targeted to extend and infill mineralization across specific multiple north-west striking mineralized shoots in the Apollo mine area. As is typical with the Sunday Creek property, wide mineralized zones with high grade central intersections were intersected.SDDSC031 was drilled to target mineralized shoots to the west of the Apollo shaft in a 67m gap to infill between drill hole MDDSC015A (15.3m @ 5.5 g/t AuEq (2.2 g/t Au and 2.1% Sb) from 231.4m) and drill hole MDDSC0012 (10.4m @ 7.0 g/t AuEq (5.4 g/t Au and ...