Sunday Creek is 100% owned by
Highlights: High-grade gold intersected in drill hole SDDSC059 (Figs 2-7), which was designed to test continuity and grade of a new vein set at depth. Highlights from SDDSC059 included:
14.6 m @ 7.3 g/t AuEq (6.3 g/t Au, 0.6 %Sb) from 569.8 m including: 0.7 m @ 6.3 g/t AuEq (5.3 g/t Au, 0.6 %Sb) from 573.2 m 2.7 m @ 7.7 g/t AuEq (3.6 g/t Au, 2.6 %Sb) from 575.3 m
1.0 m @ 73.8 g/t AuEq (73.7 g/t Au, 0.1 %Sb) from 583.0 m
Two drill holes at Golden Dyke (SDDSC060, SDDSC062) tested the most easterly vein set at Golden Dyke. Both holes intersected 30 - 40 m wide zones of low-grade mineralization. Higher grades within SDDSC062 included:
4.4 m @ 1.6 g/t AuEq (1.6 g/t Au, 0.0 %Sb) from 279.8 m, including:
0.8 m @ 6.1 g/t AuEq (6.1 g/t Au, 0.0 %Sb) from 281.0 m
1.2 m @ 2.7 g/t AuEq (1.9 g/t Au, 0.5 %Sb) from 291.4 m
10.0 m @ 1.5 g/t AuEq (0.7 g/t Au, 0.5 %Sb) from 306.0 m, including:
0.5 m @ 5.1 g/t AuEq (1.3 g/t Au, 2.4 %Sb) from 310.5 m
SXG has four rigs drilling at Sunday Creek, three in the main drill area and the fourth up to 7.5 km along strike at the Tonstal prospect with 12 holes being processed and analyzed and four in drill progress.
Mawson owns 93,750,000 shares of SXG (51%), valuing its stake atA$60.1 million (
The exploration strategy undertaken by SXG is generating industry leading hit rates of width and predictable high grades including up to 305.8 m @ 2.4 g/t AuEq and up to 0.3 m @ 363.5 g/t Au. This strategy has proven successful at unlocking value at other significant discoveries in
Results Discussion
Sunday Creek has an 11 km mineralized trend that extends beyond the main drill area and is defined by historic workings and soil sampling which is being drill tested for the very first time with the fourth drill rig which mobilized to site just over a week ago.
Rising Sun Prospect
At
Golden Dyke Prospect
Two drill holes at Golden Dyke (SDDSC060, SDDSC062) tested the most easterly vein set at this prospect. Both of holes the holes reported here intersected wide zones of low-grade mineralization and further drilling is required to understand the controls on high-grade mineralization at Golden Dyke, which was the largest and deepest producer in the historical goldfield and is the most westerly of the prospects drilled by SXG to date. Further work is therefore necessary at this high potential prospect.
SDDSC060 intersected the halo to mineralization with broad and low-grade gold and arsenic noted within an intersection of 38.4 m @ 0.1 g/t AuEq (0.1 g/t Au, 0.0 %Sb) from 189.4 m. Visible gold was observed in a narrow vein at 224 m.
SDDSC062 was drilled 70 m lower in the same vein. Wider zones of low-grade mineralization were also intersected including 13.6 m @ 0.7 g/t AuEq (0.7 g/t Au, 0.0 %Sb) from 270.6 m and 27.6 m @ 0.8 g/t AuEq (0.5 g/t Au, 0.2 %Sb) from 291.4 m. Higher-grade intervals included 4.4 m @ 1.6 g/t AuEq (1.6 g/t Au, 0.0 %Sb) from 279.8 m including 0.8 m @ 6.1 g/t AuEq (6.1 g/t Au, 0.0 %Sb) from 281.0 m, 1.2 m @ 2.7 g/t AuEq (1.9 g/t Au, 0.5 %Sb) from 291.4 m and 10.0 m @ 1.5 g/t AuEq (0.7 g/t Au, 0.5 %Sb) from 306.0 m including 0.5 m @ 5.1 g/t AuEq (1.3 g/t Au, 2.4 %Sb) from 310.5 m.
Further discussion and analysis of the Sunday Creek project by
Update on Current Drilling
Drilling with four rigs is in progress at Sunday Creek at the
Technical Background and Qualified Person
The Qualified Person,
Analytical samples are transported to the Bendigo facility of On Site Laboratory Services ('On Site') which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (PE01S method; 25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (BM011 and over-range methods as required) use aqua regia digestion and ICP-MS analysis. The QA/QC program of
MAW considers that both gold and antimony that are included in the gold equivalent calculation ('AuEq') have reasonable potential to be recovered at Sunday Creek, given current geochemical understanding, historic production statistics and geologically analogous mining operations. Historically, ore from Sunday Creek was treated onsite or shipped to the Costerfield mine, located 54 km to the northwest of the project, for processing during WW1. The Costerfield mine corridor, now owned by
MAW considers that it is appropriate to adopt the same gold equivalent variables as
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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, Mawson's expectations regarding its ownership interest in
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