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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (148901)1/6/2021 1:05:56 PM
From: LoneClone  Read Replies (1) of 192593
 
Mawson Drills 11.5 Metres at 3.3 g/t Gold and 4.2 Metres at 3.4 g/t Gold at Sunday Creek in Victoria, Australia

ca.finance.yahoo.com

Tue., January 5, 2021, 2:05 p.m. PST·19 min read

VANCOUVER, BC / ACCESSWIRE / January 5, 2021 / Mawson Gold Limited ("Mawson" or the "Company") (TSX:MAW)(FSE:MXR)(OTC PINK:MWSNF) is pleased to announce assay results from two further drill holes (MDDSC004-05) from the 100%-owned Sunday Creek project in the Victorian Goldfields of Australia. The project is an epizonal-style gold prospect located 56 kilometres north of Melbourne and contained within 19,365 hectares of granted exploration tenements.

Highlights:

  • Diamond drillhole MDDSC005 intersected 4.2 metres @ 3.4 g/t gold from 88.0 metres and 11.5 metres @ 3.3 g/t gold from 123.7 metres including 0.1 metres @ 52.6 g/t gold from 123.7 metres, 0.3 metres @ 17.9 g/t gold from 128.2 metres and 0.3 metres @ 45.1 g/t gold from 133.5 metres, while testing the parallel and down dip extensions of the historic Apollo mine area (Tables 1-3, Figure 1, Photos 1-2). Visible gold was observed within quartz+stibnite veins at 88.7 metres, 123.7 metres, 128.2 metres and 130.9 metres (Photo 1). Without applying a lower cut, the mineralized zone assayed 47.5 metres @ 1.3 g/t gold from 88.0 metres that also included an historic mine working, with no core recovery, from 100.4 to 103.4 metres;

  • Diamond drillhole MDDSC004, drilled 400 metres WNW of MDDSC005, intersected a low gold mineralized zone between 44 metres to 104 metres (50 metres downhole width) at the Golden Dyke mine area. The hole intersected an unrecorded historic mining void between 71.4 metres to 78.6 metres with 5.2 metres core loss, leaving potential to test the mined-out zone at deeper levels;

  • Ten drill holes (MDDSC001-010) with one hole in progress (MDDSC0011) for 1,504 metres have been now completed at the Sunday Creek gold project in the Victorian Goldfields. Drilling continues from early January 2021 after a short Christmas break and assay results will be released during the New Year as they become available; and

  • Fifteen holes (MDDRE001-015) for 2,774.8 m have also been drilled at the Redcastle Project. First results will be released shortly. The Phase 1 drill program at Redcastle was completed immediately prior to Christmas and the drill rig will move to the Doctors Gully prospect in the Whroo Goldfield.

  • Mr. Hudson, Chairman and CEO, states, "We continue to drill strong gold mineralization across a multiple stacked vein system at our 100%-owned Sunday Creek epizonal gold project. Diamond drillhole MDDSC005, reported here, intersected 4.2 metres @ 3.2 g/t gold from 88.0 metres and 11.8 metres @ 3.1 g/t gold from 123.7 metres, adjacent to and beneath the historic Apollo mine where the old miners left significant gold that was considered too low grade during the late 1800s and early 1900s, leaving immediate follow up drill targets. Our results continue to provide more evidence of a widespread multi-event, gold-rich system. We look forward to continuing to trace the extensions of the 40 metre wide zone to depth and along strike as one of the many target areas left to drill and extend at Sunday Creek."

    Drillhole MDDSC005 was drilled immediately beneath the 100-metre-deep Apollo shaft to test the parallel and down dip extensions of the unmined extensions of the historic mine area. The hole intersected the north-west oriented mineralized structure over 47.5 metres @ 1.3 g/t gold from 88.0 metres down hole depth without applying a lower-cut. Higher grade intersections in the hole were 4.2 metres @ 3.4 g/t gold from 88.0 metres and 11.5 metres @ 3.3 g/t gold from 123.7 metres, including 0.1 metres @ 52.6 g/t gold from 123.7 metres, 0.3 metres @ 17.9 g/t gold from 128.2 metres and 0.3 metres @ 45.1 g/t gold from 133.5 metres. An historic mining void was intersected from 100.4 to 103.4 metres down the hole. Visible gold was observed within stibnite+quartz veins at 88.7 metres, 123.7 metres, 128.2 metres and 130.9 metres (Photo 1). Mineralization at Apollo remains open along strike within the diorite dyke/sediment host trend, and to depth. Diamond drillhole MDDSC004, drilled 400 metres WNW of MDDSC005, to test eastern end of the Golden Dyke trend, with a best result of 1.0 metres 0.5 g/t gold from 44 metres. The hole intersected an historic mining void between 71.4 metres to 78.6 metres with 5.2 metres core loss in the 7.2 metre interval leaving potential to test the mined-out zone at deeper levels, with a low gold mineralized halo intersected between 44 metres to 104 metres (50 metres downhole width), leaving potential to test the mined-out zone at deeper levels.

    Mawson has now completed ten drill holes (MDDSC001-0010) and one hole remains in progress at Sunday Creek totaling 1,504 metres. Assays from 5 out of the 10 holes have been released and more results will be available during the New Year. The target is high-grade veining with associated mineralized halos, typical of epizonal-style gold mineralization. Geophysical surveys (3D induced polarization and ground magnetics) have been completed.

    Mineralization at Sunday Creek is hosted in late-Silurian to early-Devonian-aged shales and siltstones containing a series of dykes of felsic-intermediate composition. Gold is concentrated in brittle structures and dominated by two styles: veins dominated by quartz-stibnite±arsenopyrite, and a broader zone of brittle-fault/shear hosted pyritic mineralization with more chaotic veining and brecciation. High grade quartz-stibnite veins were the focus of historical mining at Sunday Creek, while the broader fault-hosted systems appear untouched.

    A combined structural-geochemical interpretation from oriented core from Mawson's initial drilling at Sunday Creek indicates mineralization is dominated by a NNW-SSE trend with subsidiary low angle ("flat") and NNE-SSW mineralized vein sets. The host sedimentary package has dips averaging 45 degrees to the NE, but small-scale folds and disruption by faults is locally important. It is clear however that more than one gold generating event has operated at Sunday Creek with visible gold evident in late fractures cutting quartz-stibnite veins, significantly improving gold grades.

    At Sunday Creek historic gold mining between 1880-1920 occurred over a greater than 11-kilometre trend. Drilling during 1990-2000s focused on shallow, previously mined surface workings, covering an area of 100 metres in width, 800 metres length but, only to 80 metres depth. As such, the entire field remains open along strike and to depth.

    Technical and Environmental Background
    Tables 1-3 provide collar and assay data. The true thickness of the mineralized interval is interpreted to be approximately 70% of the sampled thickness. Gold-only intersections are reported with a lower-cut of 0.5 g/t gold over a 2.5 metre width except on the edge of calculated intervals where 1 metre @ >2.0 g/t gold was applied. No upper cut-off was applied.

    A diamond drill rig from contractor Starwest Pty Ltd was used in the program. Core diameter is HQ (63.5 mm) and oriented with excellent core recoveries averaging close to 100% in both oxidized and fresh rock. After photographing and logging in Mawson's core logging facilities in Nagambie, intervals were diamond sawn in half by Mawson personnel. Half core is retained for verification and reference purposes. Analytical samples are transported to On Site Laboratory Services' Bendigo facility which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis use aqua regia digest and ICP-MS methods. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content and blanks within interpreted mineralized rock. In addition, On Site inserts blanks and standards into the analytical process.

    Qualified Person
    Mr. Michael Hudson (FAusMM), Chairman and CEO for the Company, is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure or Mineral Projects and has prepared or reviewed the preparation of the scientific and technical information in this press release.

    About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)
    Mawson Gold Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold project in Finland. Mawson also owns or is joint venturing into three high-grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia and is well placed to add to its already significant gold-cobalt resource in Finland.

    On behalf of the Board,
    "Michael Hudson"
    Michael Hudson, Chairman & CEO

    Further Information
    www.mawsongold.com
    1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
    Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316, info@mawsongold.com

    Forward-Looking Statement
    This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, timing and successful completion of the geophysics and drill programs planned at Redcastle and Sunday Creek, capital and other costs varying significantly from estimates, changes in world metal markets, changes in equity markets, the potential impact of epidemics, pandemics or other public health crises, including the current coronavirus pandemic known as COVID-19 on the Company's business, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

    Figure 1: Plan location of the Sunday Creek Project showing 11 km trend of historic mines (bottom left) and location of historic mine areas and drilling (top).



    Photo 1: Drillhole MDDSC005 at 130.9 metres showing visible gold grains hosted in a quartz-stibnite vein. The interval from 130.9-131.06 metres (0.16 metres length) assayed 3.7 g/t gold (most of the visible gold was left in the unassayed core). Scale of core is HQ drill core (63.5 mm diameter).



    Photo 2: Drillhole MDDSC005 annotated HQ drill core (63.5 mm diameter) showing downhole depth and gold grades. Gold grades may slightly vary from those quoted in tables as laboratory assay repeats have been averaged during length weighted average calculations.



    Table 1: Collar information from Mawson's drilling at the Sunday Creek Project
    Coordinate Reference System GDA94, Zone 55 (EPSG:28355)


    HoleID

    Easting

    Northing

    Dip

    Azimuth

    RL (m)

    Depth (m)

    Date Reported

    MDDSC001

    331080

    5867769

    -55.5

    283.3

    318

    67

    October 07, 2020

    MDDSC002

    331085

    5867771

    -65.6

    241.9

    318

    150.3

    October 27, 2020

    MDDSC003

    330776

    5867892

    -65.2

    240.2

    295

    127.7

    October 27, 2020

    MDDSC004

    330637

    5867822

    -44

    240.5

    321

    280

    Here

    MDDSC005

    331029

    5867798

    -45.5

    89.6

    311

    160.1

    Here

    MDDSC006

    331023

    5867799

    -39.4

    237.1

    311

    99.6

    TBA

    MDDSC007

    330985

    5867712

    -42

    70

    321.5

    150.8

    TBA

    MDDSC008

    331044

    5867763

    -52

    253.2

    320

    99.2

    TBA

    MDDSC009

    331013

    5867799

    -50

    260

    311

    105.9

    TBA

    MDDSC010

    331033

    5867798

    -60

    214

    310.5

    151.3

    TBA

    MDDSC011

    331042

    5867798

    -55

    270

    310

    112.2

    In progress


    Table 2: Intersections from the Sunday Creek. Intersections are reported with a lower cut of 0.5 g/t Au cut over 2.5 metre width, except on the edges of the calculated intervals where 1metres @ > 2.0 g/t Au was applied.

    HoleID

    From (m)

    To (m)

    Width (m)

    Au g/t

    MDDSC001

    0

    15.2

    15.2

    3.7

    including

    10.4

    11.0

    0.6

    17.9

    MDDSC002

    17.2

    18.0

    0.9

    1.9

    MDDSC002

    26.5

    26.7

    0.3

    6.0

    MDDSC002

    39.0

    41.0

    2.0

    1.3

    MDDSC002

    50.0

    52.0

    2.0

    0.8

    MDDSC002

    53.8

    59.0

    5.2

    5.0

    including

    53.8

    54.09

    0.29

    79.4

    MDDSC002

    76.0

    76.5

    0.5

    1.1

    MDDSC002

    96.0

    96.6

    0.6

    2.3

    MDDSC002

    109.0

    130.0

    21.0

    3.4

    including

    109.0

    110.1

    1.1

    22.3

    MDDSC002

    143.0

    144.0

    1.0

    1.9

    MDDSC003

    71.7

    79.6

    7.9

    1.8

    MDDSC003

    83.6

    84.5

    0.9

    1.0

    MDDSC003

    91.5

    92.0

    0.5

    0.6

    MDDSC003

    115.6

    116.0

    0.4

    1.5

    MDDSC003

    117.0

    118.7

    1.7

    0.8

    MDDSC005

    88.0

    92.2

    4.2

    3.4

    MDDSC005

    99.3

    99.6

    0.2

    1.3

    MDDSC005

    100.4

    103.4

    3.0

    VOID

    MDDSC005

    107.1

    107.7

    0.6

    2.3

    MDDSC005

    108.8

    109.0

    0.2

    3.0

    MDDSC005

    119.8

    120.2

    0.4

    2.5

    MDDSC005

    122.9

    123.2

    0.3

    2.0

    MDDSC005

    123.7

    135.2

    11.5

    3.3

    including

    123.7

    123.8

    0.1

    52.6

    including

    128.2

    128.6

    0.3

    17.9

    including

    133.5

    133.7

    0.3

    45.1

    MDDSC005

    88.0

    135.5

    47.5

    1.3



    Table 3: Individual assay data from drill holes reported in this press release.

    HoleID

    From (m)

    To (m)

    Width (m)

    Au g/t

    MDDSC004

    43.98

    45

    1.02

    0.45

    MDDSC004

    52.63

    52.85

    0.22

    0.2

    MDDSC004

    52.85

    53.07

    0.22

    0.08

    MDDSC004

    65.1

    65.6

    0.5

    0.21

    MDDSC004

    65.6

    65.95

    0.35

    0.1

    MDDSC004

    65.95

    66.3

    0.35

    0.08

    MDDSC004

    66.3

    66.5

    0.2

    0.12

    MDDSC004

    66.5

    66.95

    0.45

    0.09

    MDDSC004

    67.22

    67.83

    0.61

    0.1

    MDDSC004

    71.4

    71.9

    0.5

    VOID

    MDDSC004

    72.8

    73.1

    0.3

    VOID

    MDDSC004

    73.1

    73.6

    0.5

    0.24

    MDDSC004

    73.6

    76.5

    2.9

    VOID

    MDDSC004

    77.1

    78.6

    1.5

    VOID

    MDDSC004

    79.8

    80.55

    0.75

    0.17

    MDDSC004

    80.55

    81.55

    1

    0.18

    MDDSC004

    81.55

    82.55

    1

    0.06

    MDDSC004

    87.4

    88.3

    0.9

    0.08

    MDDSC004

    88.3

    89.3

    1

    0.08

    MDDSC004

    103.09

    103.55

    0.46

    0.04

    MDDSC004

    103.55

    103.7

    0.15

    0.06

    MDDSC004

    103.7

    104.33

    0.63

    0.03

    MDDSC004

    104.33

    104.97

    0.64

    0.07

    MDDSC004

    104.97

    105.1

    0.13

    0.11

    MDDSC005

    9.7

    10.12

    0.42

    0.1

    MDDSC005

    10.12

    10.64

    0.52

    0.1

    MDDSC005

    10.64

    11.5

    0.86

    0.1

    MDDSC005

    11.5

    11.9

    0.4

    0.2

    MDDSC005

    11.9

    12.85

    0.95

    0.1

    MDDSC005

    12.85

    13.7

    0.85

    0.1

    MDDSC005

    13.7

    14.35

    0.65

    0.3

    MDDSC005

    14.35

    15.35

    1

    0.4

    MDDSC005

    15.35

    15.65

    0.3

    0.7

    MDDSC005

    15.65

    16.65

    1

    0.1

    MDDSC005

    16.65

    17.65

    1

    0.1

    MDDSC005

    17.65

    18.65

    1

    0.2

    MDDSC005

    18.65

    19.65

    1

    0.1

    MDDSC005

    19.65

    20.65

    1

    0.2

    MDDSC005

    20.65

    21.65

    1

    0.1

    MDDSC005

    21.65

    22.05

    0.4

    0.1

    MDDSC005

    22.05

    22.8

    0.75

    0.1

    MDDSC005

    30.87

    31.2

    0.33

    0.1

    MDDSC005

    31.2

    32

    0.8

    0.1

    MDDSC005

    32

    33

    1

    0.2

    MDDSC005

    33

    34

    1

    0.1

    MDDSC005

    34

    35

    1

    0.2

    MDDSC005

    35

    36

    1

    0.1

    MDDSC005

    36

    37

    1

    0.1

    MDDSC005

    37

    37.6

    0.6

    0.1

    MDDSC005

    37.6

    38.6

    1

    0.2

    MDDSC005

    38.6

    39.6

    1

    0.1

    MDDSC005

    39.6

    40.6

    1

    0.2

    MDDSC005

    40.6

    41.6

    1

    0.0

    MDDSC005

    41.6

    42.6

    1

    0.1

    MDDSC005

    42.6

    43.2

    0.6

    0.2

    MDDSC005

    43.2

    44.2

    1

    0.1

    MDDSC005

    44.2

    45.2

    1

    0.1

    MDDSC005

    45.2

    46.2

    1

    0.1

    MDDSC005

    46.2

    46.4

    0.2

    0.1

    MDDSC005

    46.4

    47.4

    1

    0.0

    MDDSC005

    47.4

    48.4

    1

    0.1

    MDDSC005

    48.4

    49.4

    1

    0.1

    MDDSC005

    49.4

    50.4

    1

    0.1

    MDDSC005

    50.4

    51.4

    1

    0.1

    MDDSC005

    51.4

    52.25

    0.85

    0.1

    MDDSC005

    52.25

    52.6

    0.35

    0.1

    MDDSC005

    52.6

    53.6

    1

    0.1

    MDDSC005

    53.6

    54.6

    1

    0.1

    MDDSC005

    54.6

    55.6

    1

    0.0

    MDDSC005

    55.6

    56.5

    0.9

    0.1

    MDDSC005

    56.5

    56.8

    0.3

    0.1

    MDDSC005

    56.8

    57.8

    1

    0.1

    MDDSC005

    57.8

    58.8

    1

    0.0

    MDDSC005

    58.8

    59.8

    1

    0.1

    MDDSC005

    64.8

    65.5

    0.7

    0.2

    MDDSC005

    66.35

    66.65

    0.3

    0.1

    MDDSC005

    86

    87

    1

    0.2

    MDDSC005

    87

    88

    1

    0.1

    MDDSC005

    88

    88.7

    0.7

    2.2

    MDDSC005

    88.7

    88.85

    0.15

    7.1

    MDDSC005

    88.85

    89.6

    0.75

    1.2

    MDDSC005

    89.6

    90

    0.4

    4.7

    MDDSC005

    90

    91

    1

    4.1

    MDDSC005

    91

    92

    1

    4.2

    MDDSC005

    92

    92.15

    0.15

    4.4

    MDDSC005

    99.32

    99.55

    0.23

    1.3

    MDDSC005

    99.55

    100.4

    0.85

    0.1

    MDDSC005

    100.4

    103.4

    3

    VOID

    MDDSC005

    103.4

    104.3

    0.9

    0.1

    MDDSC005

    104.3

    105.3

    1

    0.0

    MDDSC005

    105.3

    106

    0.7

    0.0

    MDDSC005

    106

    106.2

    0.2

    0.2

    MDDSC005

    106.2

    106.85

    0.65

    0.1

    MDDSC005

    106.85

    107.05

    0.2

    0.1

    MDDSC005

    107.05

    107.67

    0.62

    2.3

    MDDSC005

    107.67

    108.12

    0.45

    0.4

    MDDSC005

    108.12

    108.45

    0.33

    0.7

    MDDSC005

    108.45

    108.83

    0.38

    0.3

    MDDSC005

    108.83

    109

    0.17

    3.0

    MDDSC005

    109

    109.35

    0.35

    0.3

    MDDSC005

    109.35

    109.5

    0.15

    0.8

    MDDSC005

    109.5

    110.21

    0.71

    0.4

    MDDSC005

    110.21

    110.73

    0.52

    0.4

    MDDSC005

    110.73

    111.43

    0.7

    0.2

    MDDSC005

    111.43

    112.32

    0.89

    0.1

    MDDSC005

    112.32

    112.5

    0.18

    0.4

    MDDSC005

    112.5

    112.91

    0.41

    0.1

    MDDSC005

    112.91

    113.06

    0.15

    0.2

    MDDSC005

    113.06

    114

    0.94

    0.1

    MDDSC005

    114

    115

    1

    0.2

    MDDSC005

    115

    115.85

    0.85

    0.1

    MDDSC005

    115.85

    116.1

    0.25

    0.1

    MDDSC005

    116.1

    117.1

    1

    0.0

    MDDSC005

    117.1

    118.1

    1

    0.1

    MDDSC005

    118.1

    118.7

    0.6

    0.1

    MDDSC005

    118.7

    119.75

    1.05

    0.1

    MDDSC005

    119.75

    120.17

    0.42

    2.5

    MDDSC005

    120.17

    121.1

    0.93

    0.1

    MDDSC005

    121.1

    121.8

    0.7

    0.1

    MDDSC005

    121.8

    122.05

    0.25

    0.4

    MDDSC005

    122.05

    122.87

    0.82

    0.2

    MDDSC005

    122.87

    123.2

    0.33

    2.0

    MDDSC005

    123.2

    123.69

    0.49

    0.0

    MDDSC005

    123.69

    123.82

    0.13

    52.6

    MDDSC005

    123.82

    124.4

    0.58

    0.7

    MDDSC005

    124.4

    125.4

    1

    1.1

    MDDSC005

    125.4

    126.15

    0.75

    0.1

    MDDSC005

    126.78

    127.2

    0.42

    0.8

    MDDSC005

    127.2

    127.65

    0.45

    1.6

    MDDSC005

    127.65

    128.23

    0.58

    0.5

    MDDSC005

    128.23

    128.55

    0.32

    17.9

    MDDSC005

    128.55

    128.8

    0.25

    6.8

    MDDSC005

    128.8

    129.1

    0.3

    0.7

    MDDSC005

    129.1

    129.57

    0.47

    0.1

    MDDSC005

    129.57

    129.95

    0.38

    0.1

    MDDSC005

    129.95

    130.54

    0.59

    0.1

    MDDSC005

    130.54

    130.9

    0.36

    0.8

    MDDSC005

    130.9

    131.06

    0.16

    3.7

    MDDSC005

    131.06

    131.33

    0.27

    11.0

    MDDSC005

    131.33

    132

    0.67

    0.2

    MDDSC005

    132

    132.48

    0.48

    0.2

    MDDSC005

    132.48

    132.66

    0.18

    0.2

    MDDSC005

    132.66

    133.07

    0.41

    0.8

    MDDSC005

    133.07

    133.46

    0.39

    2.7

    MDDSC005

    133.46

    133.72

    0.26

    45.1

    MDDSC005

    133.72

    134

    0.28

    5.8

    MDDSC005

    134

    134.6

    0.6

    0.3

    MDDSC005

    134.6

    135

    0.4

    0.2

    MDDSC005

    135

    135.2

    0.2

    6.5

    MDDSC005

    135.2

    135.48

    0.28

    0.6


    SOURCE: Mawson Gold Limited

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