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Mawson's Subsidiary SXG Intersects 1.2 m @ 121.8 g/t Au in Deepest Hole with Visible Gold Increasing with Depth at Sunday Creek, Victoria, Australia
VANCOUVER, BC / ACCESSWIRE / May 16, 2023 / Mawson Gold Limited ("Mawson" or the "Company") ...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson’s Subsidiary SXG Intersects 1.2 m @ 121.8 g/t Au in Deepest Hole with Visible Gold Increasing with Depth at Sunday Creek, Victoria, AustraliaVANCOUVER, BC / ACCESSWIRE / May 16, 2023 / Mawson Gold Limited (\"Mawson\" or the \"Company\") (TSX:MAW)(Frankfurt:MXR)(OTC PINK: MWSNF) announces results from drillhole SDDSC064 ( 1.2 m @ 121.8 g/t Au from 889.6 m ) from the deepest mineralization (830 m vertically below surface) and one of the two highest grade intersections to date, and a 115 m down-dip extension from SDDSC061 (12.0 m @ 7.4 g/t AuEq incl 0.3 m @ 249.5 g/t AuEq) at the Sunday Creek Project in Victoria, Australia (Figure 1). Of major importance is the increasing abundance of visible gold at depth at Sunday Creek (Photos 1-4), as is typical for epizonal deposits.Sunday Creek is 100% owned by Southern Cross Gold (\"SXG\"), which is an ASX listed company owned 51% by Mawson. Four rigs continue to drill both in the main drill area and up to 7.5 km along strike at the Tonstal prospect with 16 holes being processed and analyzed and four drill rigs operating. Mineralization now extends in the main drill area over 1,350 m from Christina in the far west to SDDSC063.Highlights:SDDSC064 (Figs 3-6) drilled the deepest mineralization (830 m vertically below surface) and one of the two highest grade intersections on the Sunday Creek project with increasing abundance of visible gold (Photos 1-4). Highlights from five separate mineralized veins include:0.4 m @ 48.5 g/t AuEq (44.6 g/t Au, 2.5 %Sb) from 715.8 m0.3 m @ 16.3 g/t AuEq (15.6 g/t Au, 0.4 %Sb) from 725.8 m0.9 m @ 5.6 g/t AuEq (5.2 g/t Au, 0.2 %Sb) from 882.7 m1.2 m @ 121.8 g/t AuEq (121.8 g/t Au, 0.1 %Sb) from 889.6 m including: 0.5 m @ 158.5 g/t Au and 0.4 m @ 177.5 g/t Au0.6 m @ 12.6 g/t AuEq (8.6 g/t Au, 2.5 %Sb) from 907.3 mAs well as being the deepest mineralization on project, SDDSC064 extended mineralization significantly, being a 115 m down-dip extension from SDDSC061 (12.0 m @ 7.4 g/t AuEq incl 0.3 m @ 249.5 g/t AuEq).Of major importance is the abundance of visible gold becoming increasingly significant at depth.Mawson owns 93,750,000 shares of SXG (51%), valuing its stake at A$52.5 million (C$47.3 million) based on SXG's closing price on May 16, 2023 AEST.Noora Ahola, Mawson Interim CEO, states : \"This is an exceptional result from team at Southern Cross...