Mawson Drills 15.2 Metres at 3.7 G/T GOLD from Surface IN First Hole at Sunday Creek IN Victoria, Australia
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE OCTOBER 07, 2020
MAWSON DRILLS 15.2 METRES AT 3.7 g/t GOLD FROM SURFACE IN FIRST HOLE AT SUNDAY CREEK
IN VICTORIA, AUSTRALIA
Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Company”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS: MWSNF) is pleased to announce assay results from the Company’s first drill hole from the 100%-owned
Sunday Creek project. Drilling is part of an ongoing 5 kilometre program in the Victorian Goldfields of Australia. The project
is an epizonal-style gold prospect located 56 kilometres north of Melbourne and contained with 19,365 hectares of both
granted and applied for exploration tenements.
Highlights:
Diamond drillhole MDDSC001 intersected 15.2 metres @ 3.7 g/t gold from surface including 0.6 metres at
17.9 g/t gold from 10.4 metres (Tables 1-2, Figures 1-2) while testing unmined extensions of the historic Apollo
mine area;
This is the first diamond drilling of this mineralized horizon confirming the tenor of gold mineralization found within
earlier reverse-circulation drill results, using orientated HQ-sized core;
Historic gold mining between 1880-1920 at Sunday Creek occurred over a greater than 11-kilometre trend. Drilling
during 1990-2000s focussed on shallow, previously mined su rface 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;
Three initial drill holes (MDDSC001-003) have been complete d at the Sunday Creek gold project in the Victorian
Goldfields for 345 metres of drilling. Given the intensity, style and grade of mineralization observed in this drilling,
a second drill-rig will return to Sunday Creek this week to continue to define the gold mineralized system to build
volume and scale.
Mr. Hudson, Chairman and CEO, states, "A strong start to our initial drilling in Australia with good gold grades intersected
from surface at our 100%-owned epizonal gold project at Sunday Creek. This result confirms the tenor of gold-mineralization
found in poorly located reverse circulation drilling from th e 1990s and tested what appears to be an unmined area
immediately from the surface. Our drilling has opened up this goldfield once again, and given our developing understanding
of the intensity, style, scale and grade of mineralization, we have re-mobilized a second rig back to Sunday Creek to continue
to grow the project. Meanwhile one rig also continues to drill 7 days a week at the Redcastle project.”
Three initial drill holes (MDDSC001-003) to taling 345 metres have now been completed at the Sunday Creek gold project
in the Victorian Goldfields. The target was high-grade veining with associated mineralized halos, typical of epizonal-style
gold mineralization. Given the intensity, style and grade of mineralization observed in this drilling, a drill has been
remobilized back to Sunday Creek to continue to define the gold mineralized system to build volume and scale. A geophysical
crew will mobilize soon to the Sunday Creek area to test the system along its strike and to depth by undertaking gradient
IP, 3D IP, gravity and ground magnetics.
Mineralization at Sunday Creek is hosted in late-Silurian to early-Devonian-aged shales and siltstones containing a series of
volcanic dykes of felsic-intermediate composition. Gold is concentrated in late-aged brittle structures and dominated by two
styles: a fracture hosted quartz-stibnite±arsenopyrite extensio nal-type vein-set, and a broader zone of brittle-fault/shear
hosted sulphidic mineralization with more chaotic veining an d brecciation. The fracture-hos ted quartz-stibnite style of
veining seems to have been the focus of historical mining at Sunday Creek, while the broader fault-hosted systems appears
untouched. A series of felsic dykes are known over 2.5 kilometers strike and up to 100 metres width and appear to act as
a favourable host-lithology for the higher-grade gold mineralization.
Technical and Environmental Background
The true thickness of the mineralized interv al 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 1 metre width. No upper cut-off was applied.
A drill rig from drilling contractor Starwest Pty Ltd was used in the drill program. Core diameter was HQ (63.5 mm) and oriente d. Core
recoveries are excellent and average close to 100% in both oxid ized and fresh rock. After photographing and logging in Mawson’s core
logging facilities in Nagambie, core 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 system. 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 aqua regia digest and ICP-MS methods.
The QA/QC program of Mawson consists of the systematic insertio n of certified standards of known gold content, duplicate samples by
quartering the core, and blanks within interpreted mineralized rock. In addition, On Site inserts blanks and standards into the analytical
process.
Qualified Person
Mr. Michael Hudson (FAusIMM), 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 th e scientific and technical inform ation 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. The Australian gold acquisition provides Mawson with a strategic
and diversified portfolio of high-quality gold exploration assets in two safe jurisdictions.
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,
Forward-Looking Statement
This news release contains forward-looking statements or forward-looking information wi thin the meaning of applicable securitie s laws
(collectively, "forward-looking statements") . All statements herein, other than statements of historical fact, are forward-look ing
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 for ward-
looking statements as a result of various factors, including, but not limited to, timing and su ccessful completion of the geoph ysics and
drill programs planned at Redcastle and Sunday Creek, capital an d other costs varying significantl y from estimates, changes in world
metal markets, changes in equity markets, the potential impact of epidemics, pandemic s or other public health crises, including the
current outbreak of the novel coronavirus known as COVID-19 on the Company’s business, planned drill programs and results varyi ng
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 an d 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 current diamond drill with historic mines and drilling (top).
Figure 2: Annotated HQ drill core (63.5mm diameter) showing downhole depth and gold grades. Mineralization starts from surface and extends down to 15.2 metres down hole
depth. Gold is hosted in both sediments from 0-10.42 metres and felsic dyke from 10.42-15.2 metres. Core is oxidized and weathered. High grade gold mineralization, as shown by
other drillholes at Sunday Creek, continues to depth below the surface weathering.
Table 1: Collar information from Mawson’s drilling at the Sunday Creek Project
Coordinate Reference System GDA94, Zone 55 (EPSG:28355)
Hole_Id Hole_diam Easting Northing Dip Azimuth RL_m EOH_m Date Reported
MDDSC001 HQ 331079.6 5867769 ‐55 279 318.1 67 Here
MDDSC002 HQ 331084.7 5867771 ‐ 65 250 317.6 150.3 TBA
MDDSC003 HQ 330776.3 5867892 ‐65 240 294.9 127.7 TBA
Table 2: Individual assay data from drill holes reported in this press release.
Hole_Id From (m) To (m) Length (m) Sample ID Gold g/t
MDDSC001 0 0.45 0.45 61000101 2.52
MDDSC001 0.45 1.2 0.75 61000102 0.75
MDDSC001 1.2 2.2 1 61000103 1.11
MDDSC001 2.2 2.95 0.75 61000104 9.38
MDDSC001 2.95 3.2 0.25 61000105 3.12
MDDSC001 3.2 3.68 0.48 61000106 2.00
MDDSC001 3.68 4.5 0.82 61000107 4.53
MDDSC001 4.5 5.3 0.8 61000108 2.01
MDDSC001 5.3 5.95 0.65 61000109 0.70
MDDSC001 5.95 6.1 0.15 61000110 15.80
MDDSC001 6.1 6.37 0.27 61000111 0.82
MDDSC001 6.37 6.63 0.26 61000112 0.54
MDDSC001 6.63 7.65 1.02 61000113 0.78
MDDSC001 7.65 8.3 0.65 61000114 5.73
MDDSC001 8.3 9 0.7 61000115 3.95
MDDSC001 9 10 1 61000116 2.03
MDDSC001 10 10.12 0.12 61000117 3.55
MDDSC001 10.12 10.42 0.3 61000118 2.70
MDDSC001 10.42 11 0.58 61000119 17.90
MDDSC001 11 12 1 61000121 7.43
MDDSC001 12 13 1 61000122 2.66
MDDSC001 13 14 1 61000123 0.76
MDDSC001 14 14.9 0.9 61000124 3.40
MDDSC001 14.9 15.1 0.2 61000125 3.65
MDDSC001 15.1 15.2 0.1 61000126 3.20
MDDSC001 15.2 16.2 1 61000127 0.15
MDDSC001 16.2 17.2 1 61000128 0.05
MDDSC001 17.2 18.2 1 61000129 <0.01
MDDSC001 18.2 19.2 1 61000130 <0.01
MDDSC001 19.2 20.2 1 61000131 <0.01
MDDSC001 20.2 21.2 1 61000132 <0.01
MDDSC001 21.2 22.2 1 61000133 0.01
MDDSC001 22.2 23.2 1 61000134 0.05
MDDSC001 23.2 24.2 1 61000135 0.19
MDDSC001 24.2 25.2 1 61000136 0.20
MDDSC001 25.2 26.2 1 61000137 <0.01
MDDSC001 26.2 27.2 1 61000138 0.01
MDDSC001 27.2 28.2 1 61000139 0.05
MDDSC001 28.2 29.2 1 61000141 0.08
MDDSC001 29.2 30.2 1 61000142 <0.01
MDDSC001 30.2 31.2 1 61000143 <0.01
MDDSC001 31.2 32.2 1 61000144 0.03
MDDSC001 32.2 33.2 1 61000145 0.01
MDDSC001 33.2 34.05 0.85 61000146 0.01
MDDSC001 34.05 34.85 0.8 61000147 0.01
MDDSC001 34.85 35.1 0.25 61000148 0.06
MDDSC001 35.1 36.1 1 61000149 0.04
MDDSC001 36.1 36.5 0.4 61000150 0.11
MDDSC001 36.5 37.35 0.85 61000151 0.14
MDDSC001 37.35 37.8 0.45 61000152 0.07
MDDSC001 37.8 38.45 0.65 61000153 0.18
MDDSC001 38.45 39.45 1 61000154 <0.01
MDDSC001 39.45 39.9 0.45 61000155 0.02
MDDSC001 39.9 40.35 0.45 61000156 0.06
MDDSC001 40.35 41.1 0.75 61000157 0.14
MDDSC001 41.1 41.33 0.23 61000158 0.03
MDDSC001 41.33 42 0.67 61000159 0.08
MDDSC001 42 43 1 61000161 0.09
MDDSC001 43 43.4 0.4 61000162 0.05
MDDSC001 43.4 44 0.6 61000163 0.21
MDDSC001 44 45 1 61000164 0.16
MDDSC001 45 45.7 0.7 61000165 0.14
MDDSC001 45.7 46.25 0.55 61000166 0.01
MDDSC001 46.25 46.4 0.15 61000167 0.03
MDDSC001 46.4 47.4 1 61000168 0.20
MDDSC001 47.4 47.75 0.35 61000169 0.22
MDDSC001 47.75 48.75 1 61000170 0.12
MDDSC001 48.75 49.75 1 61000171 0.18
MDDSC001 49.75 50.5 0.75 61000172 0.05
MDDSC001 50.5 51.5 1 61000173 0.08
MDDSC001 51.5 52.5 1 61000174 0.02
MDDSC001 52.5 53.5 1 61000175 0.04
MDDSC001 53.5 54.5 1 61000176 0.08
MDDSC001 54.5 55.5 1 61000177 0.08
MDDSC001 55.5 56.15 0.65 61000178 2.59
MDDSC001 56.15 56.4 0.25 61000179 1.01
MDDSC001 56.4 57.4 1 61000181 0.19
MDDSC001 57.4 58.4 1 61000182 0.01
MDDSC001 58.4 59.1 0.7 61000183 0.02
MDDSC001 59.1 60.1 1 61000184 0.06
MDDSC001 60.1 60.9 0.8 61000185 0.03
MDDSC001 60.9 61.1 0.2 61000186 0.02
MDDSC001 61.1 61.78 0.68 61000187 0.10
MDDSC001 61.78 62.2 0.42 61000188 0.25
MDDSC001 62.2 62.5 0.3 61000189 0.05
MDDSC001 62.5 62.75 0.25 61000190 0.18
MDDSC001 62.75 63.6 0.85 61000191 0.09
MDDSC001 63.6 64 0.4 61000192 0.58
MDDSC001 64 64.55 0.55 61000193 0.13
MDDSC001 64.55 64.72 0.17 61000194 2.02
MDDSC001 64.72 65 0.28 61000195 0.53
MDDSC001 65 66 1 61000196 0.22
MDDSC001 66 67 1 61000197 0.12