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Sunday Creek Mineralised Footprint Extended To 8 km and Remains Open High Grades Include 0.5 m @ 15.7 g/t, 0.3 m @ 19.4 g/t Gold Mineralization Style Same as Main Zone
VANCOUVER, BC / ACCESSWIRE / October 12, 2023 / Mawson Gold Limited ("Mawson" or the "Compan...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Sunday Creek Mineralised Footprint Extended To 8 km and Remains Open High Grades Include 0.5 m @ 15.7 g/t, 0.3 m @ 19.4 g/t Gold Mineralization Style Same as Main ZoneVANCOUVER, BC / ACCESSWIRE / October 12, 2023 / Mawson Gold Limited (\"Mawson\" or the \"Company\") (TSX:MAW)(Frankfurt:MXR)(PINKSHEETS:MWSNF) announces results from 12 diamond drill holes for 2,367 m from regional drilling located between 4 km and 8 km along the same mineralized structure as the main drill area at the 100%-owned Sunday Creek Project in Victoria (Figure 1). The drilled mineralized footprint at Sunday Creek has now been extended for more than 8 km in east-west strike representing an 8-fold increase.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 in the main drill area where 21 holes (SDDSC079-99) are currently being geologically processed and chemically analyzed, with four holes (SDDSC092, 97A, 100, 101) in drill progress (Figure 5).Highlights:The drilled footprint at Sunday Creek now extends for 8 km and remains open, representing an 8-fold increase in the previously drilled host to gold mineralization, demonstrating the district scale opportunities that exist for the project.High grade gold, with anomalous and broad (150 m) mineralized halo discovered in first drill holes ever drilled outside main drill area.Highlights include:SDDLV003:0.5 m @ 15.7 g/t Au from 87.0 m (including visible gold)SDDLV004:0.3 m @ 5.6 g/t Au from 73.4 m and0.3 m @ 19.4 g/t Au from 100.7 mMineralization is the same style as the Sunday Creek main zone.Mawson owns 93,750,000 shares of SXG (51%), valuing its stake at A$74.1 million (C$64.6 million) based on SXG's closing price on October 11, 2023 AEST.Noora Ahola, Mawson Interim CEO, states: \"Today's results from SXG's 100% owned Sunday Creek project confirms the proof of concept that the property is host to an extensive mineralized trend with significant upside beyond the excellent results the company has been producing at its main drill area 8 km to the southwest.\"The results released today are commensurate with the very early drilling undertaken in what is now the core drill area at Sunday Creek and adds another layer of confidence, in our opinion, that the project is one of the best new discoveries in the market today.\"SXG's f...