March 24, 2021
Mawson Gold Ltd. (TSX:MAW, BUY, C$0.90 target, David A. Talbot) announced assay results from two drill holes at its 100%-owned Sunday Creek project in Australia, with results extending mineralization in two different areas. Diamond drill hole MDDSC0012 (hole 12), the deepest hole to date drilled below the historic Apollo mine workings, returned the best intercepts at the project so far: 2.4 g/t Au and 0.4% Sb (2.8 g/t Au Eq.) over 36.4m including 1.7 g/t Au and 0.14% Sb (1.9 g/t Au Eq.) over 13m and 3.7 g/t Au and 0.7% Sb (4.4 g/t Au Eq.) over 17.7m. Whereas diamond drill hole MDDSC0011 (hole 11), the most northerly hole drilled at the historic Gladys mine area, intersected moderate thickness and grade mineralization on the margins of the Gladys structure returning: 3.1 g/t Au over 1.0m. We view these results positively as hole 12 intersected broad zones of mineralization with multiple high-grade sheeted veins, extending mineralization at depth, and hole 11 extending mineralization to the north of the historic Gladys mine workings. Mineralization intersected in both holes remains open in all directions. Drilling continues at Sunday Creek with fourteen holes (~2,487m) completed at the project to date. Looking at assay results from previous holes (MDDSC001 – 0010), Mawson is comparing the high-grade tenor of epithermal mineralization intersected at the deposit to neighbouring Mandalay Resources’ (TSX:MND, Not Rated) Costerfield and Kirkland Lake’s (TSX:KL, Not Rated) Fosterville mines. A 2,500-point soil sampling program is underway at the project extending E-NE from drilling areas to further test the 11km trend. Read more
