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Mawson's Subsidiary SXG Acquires High-Grade Laura Drill Discovery at Redcastle and Further Freehold at Sunday Creek
VANCOUVER, BC / ACCESSWIRE / July 24, 2023 / Mawson Gold Limited ("Mawson" or the "Company...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson's Subsidiary SXG Acquires High-Grade Laura Drill Discovery at Redcastle and Further Freehold at Sunday CreekVANCOUVER, BC / ACCESSWIRE / July 24, 2023 / Mawson Gold Limited (\"Mawson\" or the \"Company\") (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) announces its 51% owned ASX-listed subsidiary, Southern Cross Gold (\"SXG\"), has acquired both:The Prospecting Licence PL6415 (\"Laura\") located within the 70% owned Redcastle JV in the Victorian goldfields; andFurther freehold land within the 100%-owned Sunday Creek epizonal-style gold project.The strategic acquisition of the Laura prospecting licence completely secures one of the higher-grade parts of the Redcastle goldfield, where recent drilling has identified very high grades (up to 704 g/t Au and 24.7% Sb) within continuous and targetable structures above a 1.3 km long and a coherent IP anomaly.The new freehold land package purchased at Sunday Creek lies adjacent to both the main access and current freehold ownership at the project.Highlights:SXG expands its epizonal gold-antimony search in Victoria, Australia with the 100% purchase of the Laura PL6415 prospecting licence for A$300,000:Provides an immediate and extremely high-grade drill discovery to expand upon and to build another project of scale for SXG.Consolidates SXG's extensive ground holding and best drill grades at the Redcastle gold and antimony field.Laura is located entirely within SXG's 70% owned Redcastle JV, 2 km immediately north of Mandalay Resources' exploration properties which contain the Costerfield Mine (Figure 1).Laura's previous owners drilled 16 diamond holes for 1,923.2 m (Table 1 and 2) during 2019 below the historic Laura mine, with multiple, thin and continuous high grades. Significant results include:RDDH03: 0.1 m @ 743.0 g/t AuEq (704.0 g/t Au, 24.7 %Sb) from 116.9 mRDDH07: 0.2 m @ 28.1 g/t AuEq (27.9 g/t Au, 0.1 %Sb) from 67.8 mRDDH08: 0.2 m @ 20.0 g/t AuEq (17.5 g/t Au, 1.6 %Sb) from 162.6 mRDDH12: 0.1 m @ 42.9 g/t AuEq (20.0 g/t Au, 14.5 %Sb) from 70.9 mRDDH13: 0.1 m @ 20.2 g/t AuEq (10.1 g/t Au, 6.4 %Sb) from 108.1 mRDDH15: 0.1 m @ 12.5 g/t AuEq (5.8 g/t Au, 4.3 %Sb) from 75.1 mThe Laura project also forms a key geophysical target within the Redcastle goldfield, with a 1.3 km-long coherent induced polarization (\"IP\") chargeability anomaly underlying the Laura PL6415. The IP anomaly als...