Mawson Drills 15.3 Metres at 2.2 G/T GOLD and 2.1% Antimony 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 JULY 06, 2021
MAWSON DRILLS 15.3 METRES AT 2.2 g/t GOLD AND 2.1% ANTIMONY AT SUNDAY CREEK IN
VICTORIA, AUSTRALIA
Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Compa n y ” ) ( T S X : M A W ) ( F r a n k f u r t : M X R )
(PINKSHEETS: MWSNF) is pleased to announce assay results from three further drill holes (MDDSC013A-15A) 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 MDDSC015A, the deepest hole drilled to date at the Apollo mine area (Tables 1-3, Figures 1-3)
intersected (lower cut of 0.3 g/t Au cut over 2.0 metre width, with higher grades reported with a 5 g/t Au cut over
1.0 metre):
o 4.6 metres @ 1.6 g/t Au and 0.1% Sb (1.7 g/t AuEQ) from 222 metres; and
o 15.3 metres @ 2.2 g/t Au and 2.1% Sb (4.3 g/t AuEQ) from 231.4 metres
Including 0.8 metres @ 1.1 g/t Au and 6.8% Sb (7.8 g/t AuEQ) from 232.3 metres
Including 0.5 metres @ 6.6 g/t Au and 15.3% Sb (21.9 g/t AuEQ) from 238.1 metres
Including 2.8 metres @ 5.7 g/t Au and 5.5% Sb (11.1 g/t AuEQ) from 241.3 metres
Including 0.5 metres @ 10.1 g/t Au and 0.7% Sb (10.8 g/t AuEQ) from 245.6 metres
Diamond drillhole MDDSC013A, the most south-easterly hole at Apollo, intersected (Tables 1-3, Figures 1-3):
o 5.3 metres @ 3.1 g/t Au and 1.1% Sb (4.2 g/t AuEQ) from 111.1 metres
Including 0.6 metres @ 14.4 g/t Au and 9.6% Sb (24.0 g/t AuEQ) from 111.1 metres
Including 0.6 metres @ 8.4 g/t Au and 0.01% Sb (8.4 g/t AuEQ) from 113.5 metres
Eighteen drill holes (MDDSC001-018) for 2,968 metres have been now completed at the Sunday Creek gold project.
Drilling continues;
Michael Hudson, CEO, states: “Our Victorian portfolio continues to successfully deliver at Sunday Creek with the deepest
hole drilled to date intersecting broad mineralization with multiple impressive higher-grade zones including 15.3 metres @
2.2 g/t Au and 2.1% Sb (4.3 g/t AuEQ) located 50 metres down-dip from our closest drill hole. We continue to be impressed
by the continuity of gold mineralization as we drill to depth, as well as the increasing antimony grades. Drilling continues
as we work towards a maiden resource.”
MDDSC015A was drilled 50 metres below Mawson’s previously reported drill h ol e MDDSC012 wh i c h i n ter sec ted 3 6 . 4
metres @ 2.4 g/t Au and 0.4% Sb, 2.8 g/t AuEQ from 177 metres d emonstrating the consistency of mineralization
continuing to depth (Figure 2 and 3). MDDSC013 was drilled 50 metres SE of MDDSC015A and supports the interpretation
that higher grade mineralization dips steeply to the NW. MDDSC014, drilled beneath the central zone, drilled under the
NE plunging enveloping mineralized surface, intersected low-grade mineralization, with a near-surface best result of 1 metre
@ 0.6 g/t Au from 8.2 metres. M DDSC013 and MDDSC015 were abandoned at shallow depths due to hole deviation near
their collars and redrilled as MDDSC013A and MDDSC015A respectively.
Mawson has now completed eighteen drill holes (MDDSC001-018) fo r 2,968 metres at the Sunday Creek gold-antimony
project. Drilling continues and assays from 15 out of the 18 fi nalized holes have been released. Geophysical surveys (3D
induced polarization and ground magnetics) and detailed LiDAR surveys have been completed. A 2,500-point soil sampling
program at Sunday Creek is near completion extending east-northeast from drilling areas to test the 11-kilometre trend of
historic epizonal dyke-hosted mineralization within Mawson’s te nured areas. The integration of the LiDAR, soil sampling
data, rock chips and geophysics is key to the expansion of the project along strike.
At Sunday Creek, historic gold mining occurred between 1880 and 1920 over a greater than 11-kilometre strike length.
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 average depth. As such, the entire field remains open along strike and to depth.
Apollo was the original deepest shaft to 100 metres in the late 1800s in a series of sheeted stibnite-rich veins, predominately
hosted within a zone of felsic dykes and related alteration that broadly controls gold distribution.
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 mainly in and around the north dipping and EW to NE-SW
striking felsic dykes and the halo of associated pre-mineralization dyke-related sericite-pyrite alteration. The mineralization
generally lies within brittle multiple sheeted veins and catacl astic zones. Individual NW striking high-grade quartz-stibnite
veins at Apollo and Golden Dyke, and cataclastic zones at Gladys were the focus of historical mining at Sunday Creek. These
zones have been proven to continue to depth by Mawson. Broader vein-hosted and cataclastic mineralization grading less
than 15 g/t gold appears untouched by the historic miners.
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 fr esh rock. After photographing and logging in Mawson’s core logg ing
facilities in Nagambie, intervals were diamond sawn in half by Mawson personnel. Half core is retained for verification and re ference
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 go ld 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 insertio n of certified standards of known gold content and blanks withi n
interpreted mineralized rock. In addition, On Site inserts blanks and standards into the analytical process.
Gold Equivalent Calculation
It is the opinion of Mawson that all the elements included in the metal equivalent calculation have a reasonable potential to be recovered.
The gold equivalent (AuEQ) was calculated based on commodity prices as 21 March 2021. The AuEQ formula is as follows: AuEQ(g/t) =
(Aug/t) + (XX * Sb%), where XX = (US$5,600/100) / (US$1,750/31. 1035) and the gold price = US$1,750/oz and antimony price =
US$5,600/tonne.
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 infor mation 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-cobalt proj ect in Finland. Mawson also owns or is joint venturing into thr ee 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,
Forward-Looking Statement
This news release contains forward-looking statements or forwar d-looking information within the meaning of applicable securiti es laws
(collectively, "forward-looking statements"). All statements he rein, other than statements of h istorical fact, are forward-loo king
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 fo rward-
looking statements as a result of various factors, including, but not limited to, timing and successful completion of drill programs planned
at 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 he alth crises, including the current pandemic known as COVID-19 o n the
Company’s business, planned drill programs and results varying from expectations, delays in obtaining results, equipment failu re,
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 la ws, Mawson disclaims any intent or obligation to update any for ward-
looking statement, whether as a result of new information, future events or results or otherwise.
Figure 1: Plan location of the Sunday Creek Project historic mines and location Mawson drilling.
Figure 2: Longitudinal (“Long”) Section of the Apollo Mine Area showing Mawson drillholes MDDSC0013 and MDDSC0015A reported here.
Figure 3: Cross Section of the Gladys to Apollo Mine Area showing Mawson drillholes MDDSC0013 and MDDSC0015A reported here, and enveloping surface to mineralization.
Table 1: Collar information from Mawson’s drilling at the Sunday Creek Project
Coordinate Reference System GDA94, Zone 55 (EPSG:28355)
Area Hole_ID Easting Northing Dip Azimuth RL (m) Depth (m) Date Reported
Central MDDSC001 331080 5867769 -55.5 283.3 318 67 October 07, 2020
Central MDDSC002 331085 5867771 -65.6 241.9 318 150.3 October 27, 2020
Rising Sun MDDSC003 330776 5867892 -65.2 240.2 295 127.7 October 27, 2020
Golden Dyke MDDSC004 330637 5867822 -44 240.5 321 280 January 05, 2021
Apollo MDDSC005 331029 5867798 -45.5 89.6 311 160.1 January 05, 2021
Gladys MDDSC006 331023 5867799 -39.4 237.1 311 99.6 February 11, 2021
Gladys MDDSC007 330985 5867712 -42 70 321.5 150.8 February 11, 2021
Gladys MDDSC008 331044 5867763 -52 253.2 320 99.2 February 11, 2021
Gladys MDDSC009 331013 5867799 -50 260 311 105.9 February 11, 2021
Gladys MDDSC010 331033 5867798 -60 214 310.5 151.3 February 11, 2021
Gladys MDDSC011 331042 5867798 -55 270 310 215.8 March 22, 2021
Apollo MDDSC012 331172 5867842 -60 252.4 309 262.9 March 22, 2021
Apollo MDDSC013 331170 5867842 -68 223 309 43.4 Abandoned
Apollo MDDSC013A 331170 5867842 -68 223 309 270 Here
Apollo MDDSC014 330985 5867712 -75 41.4 303.7 300 Here
Apollo MDDSC015 331191.6 5867860 -65 253 306.7 29.8 Abandoned
Apollo MDDSC015A 331191.6 5867860 -65 253 306.7 423.2 Here
Apollo MDDSC016 331104.4 5867822 -66 236 308.3 15.74 Abandoned
Apollo MDDSC016A 331104.4 5867822 -66 236 308.3 252.5 TBA
Apollo MDDSC017 331196.4 5867856 -72 260 307.6 450 TBA
Golden Dyke MDDSC018 330548 5867891 -55 195 307.6 300 TBA
Note: (1) The true thickness of t he mineralized interval is interpreted to be approximately 70% of the sampled thickness.
Table 2: Intersections from Mawson’s drilling from the Sunday Creek Project. Intersections are reported with a lower cut of 0.3 g/t Au
cut over 2.0 metre width, with higher grades reported with a 5 g/t Au cut over 1.0 metre.
Hole_ID From
(m)
To (m) Width(1)
(m)
Au g/t Sb% AuEQ
g/t
MDDSC001 0.0 15.2 15.2 3.7 0.2 3.9
including 2.0 2.8 0.8 9.4 0.4 9.7
including 6.0 6.2 0.1 15.8 0.1 15.9
including 8.0 8.7 0.7 5.7 0.1 5.8
including 10.0 11.6 1.6 11.3 0.3 11.5
MDDSC001 56.0 56.9 0.9 2.2 0.0 2.2
MDDSC001 64.0 65.4 1.4 0.6 0.1 0.7
MDDSC002 16.0 17.5 1.5 1.2 0.3 1.4
MDDSC002 26.0 26.3 0.3 6.3 0.2 6.4
MDDSC002 39.0 41.0 2.0 1.4 0.0 1.4
MDDSC002 50.0 59.0 9.0 3.2 0.5 3.7
including 54.0 54.3 0.3 82.8 13.8 96.5
MDDSC002 76.0 76.5 0.5 1.0 0.0 1.1
MDDSC002 96.0 96.6 0.6 2.2 0.3 2.5
MDDSC002 109.0 110.1 1.1 21.4 3.3 24.7
MDDSC002 113.0 113.3 0.3 10.6 1.1 11.7
MDDSC002 116.0 130.3 14.3 2.9 0.5 3.3
including 116.0 116.3 0.3 25.6 0.0 25.6
including 117.0 117.4 0.4 18.0 2.8 20.8
including 119.0 119.6 0.5 7.0 7.3 14.3
including 123.0 124.1 1.1 5.2 0.8 6.0
including 128.0 128.2 0.2 7.1 0.0 7.1
MDDSC002 135.0 136.0 1.0 0.6 0.0 0.6
MDDSC002 143.0 144.0 1.0 1.8 0.0 1.8
MDDSC003 72.0 73.5 1.5 3.6 0.3 3.9
including 72.0 72.9 0.9 5.3 0.5 5.7
MDDSC003 76.0 81.5 5.5 1.6 1.4 3.0
including 79.0 79.6 0.6 5.9 10.0 15.8
MDDSC003 84.0 84.9 0.9 1.0 0.0 1.0
MDDSC003 91.0 92.4 1.3 0.4 0.6 1.0
MDDSC003 116.0 119.1 3.1 0.6 0.0 0.6
MDDSC005 15.0 15.3 0.3 0.7 0.0 0.7
MDDSC005 88.0 92.2 4.2 3.4 0.1 3.5
including 89.0 89.2 0.1 7.1 0.7 7.9
MDDSC005 99.0 99.2 0.2 1.3 0.4 1.6
MDDSC005 107.0 112.7 5.7 0.6 0.6 1.2
including 109.0 109.2 0.2 3.0 11.2 14.1
MDDSC005 120.0 135.7 15.7 2.6 1.0 3.6