Mawson Gold Limited (TSE:MAW) (OTCPINK:MWSNF) (FRA:MXR) has unveiled new assay results from its Sunday Creek project in Australia that showcased the deepest and best drill result to date.
Diamond drill hole MDDSC0012 was drilled 110 metres vertically below the historic Apollo mine workings and intersected thick and high-grade mineralized intervals over a combined width of 36.4 metres at 2.4 grams per ton (g/t) gold and 0.4% antimony from 177 metres.
Other intervals included 13 metres at 1.7 g/t gold and 0.14% antimony from 177 metres, including 0.8 metres at 11.4 g/t gold and 0.9% antimony from 178 metres; and 17.7 metres at 3.7 g/t gold and 0.7% antimony from 196 metres.
READ: Mawson Gold reports encouraging drill assays from historic Gladys mine area at Sunday Creek
Another hole, MDDSC0011, intersected moderate thickness and grade mineralization on the margins of the Gladys structure including 1 metres at 3.1 g/t gold from 100 metres.
In a statement, Mawson told investors that the high-grade tenor of Sunday Creek is becoming evident, with the opportunity to develop similar high grades as those found in nearby world-class mining operations such as Mandalay Resource's Costerfield mine or Kirkland Lake Gold's Fosterville mine.
"Sunday Creek is shaping up as one of the best discoveries to emerge from the new wave of gold exploration in Victoria, with this new drilling delivering our best and deepest result from the project,” Mawson’s CEO Michael Hudson told shareholders.
“Impressively, we see a broad zone of mineralization that includes multiple high grade sheeted veins … MDDSC012 is the first drill hole to test beneath old mine workings, and demonstrates that high-grades continue to depth.”
Hudson noted that drilling is ongoing, with the company looking to bring in extra drill capacity. “As we continue to extend the system in all directions, the chance to find further high-grade blow outs at Sunday Creek remains an exciting opportunity,” the CEO added.
The firm has started a 2,500-point soil sampling program at Sunday Creek, extending east-northeast from drilling areas to test the 11 kilometre trend of historic epizonal dyke-hosted mineralization within Mawson's tenured areas.
Sunday Creek lies in the famous Victorian Goldfields in Australia, which have produced more than 80 million ounces of gold.
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