Mawson Drills 7.0 Metres at 6.0 G/T GOLD and 3.4 Metres at 9.7 G/T GOLD 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 FEBRUARY 11, 2021
MAWSON DRILLS 7.0 METRES AT 6.0 g/t GOLD AND 3.4 METRES AT 9.7 g/t GOLD
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 five further drill holes (MDDSC006-10) from the
100%-owned Sunday Creek project in the Victorian Goldfields of Australia. All holes were drilled at the historic Gladys mine
area. 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 MDDSC0010 intersected 7.0 metres @ 6.0 g/t gold from 72.4 metres including 2.0
metres @ 18.5 g/t gold from 73.9 metres and 3.4 metres @ 9.7 g/t gold from 97.9 metres including
0.3 metres @ 72.9 g/t gold from 101.0 metres while testing the down dip extensions of the historic Gladys
mine area. Antimony results are awaited. (Tables 1-3, Figures 1 and 2).
Diamond drillhole MDDSC008, drilled 60 metres above MDDSC010, intersected 2.1 metres @ 7.6 g/t gold,
1.7% antimony from 67.7 metres including 0.7 metres @ 21.5 g/t gold and 5.0 % antimony from 73.9
metres and 0.2 metres @ 8.0 g/t gold, 3.9 % antimony from 95.0 metres;
Diamond drillhole MDDSC007, drilled 60 metres to the SW of MDDSC 010, intersected a broad 20 metre lower
grade zone from 76.2 metres, that included 5.8 metres @ 2.2 g/t gold, 0.4 % antimony from 76.2 metres
including 0.4 metres @ 22.3 g/t gold and 3.2 % antimony from 78.6 metres;
Twelve drill holes (MDDSC001-012) with one hole in progress (MDDSC0013A) and one hole abandoned
(MDDSC0013) for 1,955.4 metres have been now completed at the Sunday Creek gold project. Drilling continues.
Michael Hudson, CEO, states: “Sunday Creek continues to deliver with ou r first results from th e Gladys mine area.
Encouragingly the deepest hole, MDDSC010, re ported here contains the best result reported to date from Gladys, and is
reflective of drilling now testing below historic mined areas. Mawson has now drilled strong gold results from three individual
sheeted vein structures: Apollo, Central and now Gladys. A ll areas remain open towards depth. Additionally, significant
strike potential remains untested over 500 metres between and below historic mines, before we consider stepping out into
the 11 kilometre historic mine trend.”
At Sunday Creek, historic gold mining occurred between 1880-1920 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 average depth. As such, the entire field remains open along strike and to depth.
Within this, Gladys was the longest worked field on the hist oric project in the late 1800s and early 1900s, extending over
110 metres in a series of sheeted stibnite-rich veins, predomin ately hosted within a cataclastic faulted siltstone. Variable
amounts of felsic dyke are present, but mineralization is no t as intimately associated with the dykes compared to other
areas on the project (ie the Apollo mine area).
A series of historic shallow aircore holes tested Gladys in the mid-1990s. Mawson results are in keeping with or exceed the
shallow drillholes that tested oxide mineralization (Figure 2). Better historic results include:
CRC028: 19 metres @ 2.7 g/t Au from 6 metres
CRC026: 8 metres @ 6.3 g/t Au from 9 metres
CRC006: 13 metres @ 3.4 g/t Au from 17 metres
CRC007: 15 metres @ 2.9 g/t Au from 7 metres
Five diamond drill holes (MDDSC006-10) from Gladys are reported here (Tables 1-3, Figure 1):
MDDSC006, drilled 50 metres up dip from MDDSC010, intersecte d 0.6 metres @ 4.4% antimony, with no gold
returning in assay, despite the presence of visible gold being noted.
MDDSC007, drilled 60 metres to the SW of MDDSC010, intersected a broad 20 metre lower grade zone from 76.2
metres, that included 5.8 metres @ 2.2 g/t gold, 0.4% antimony from 76.2 metres including 0.4 metres
@ 22.3 g/t gold and 3.2% antimony from 78.6 metres.
MDDSC008, drilled 60 metres up dip of MDDSC010, intersected 2.1 metres @ 7.6 g/t gold, 1.7% antimony
from 67.7 metres including 0.7 metres @ 21.5 g/t gold and 5.0% antimony from 73.9 metres and 0.2
metres @ 8.0 g/t gold, 3.9% antimony from 95.0 metres.
MDDSC009, drilled 50 metres NW from MDDSC010, intersected a broad zones of lower grade gold, with the best
result being 1.7m @ 2.4 g/t Au from 67 metres. Antimony results are awaited.
MDDSC0010 intersected 7.0 metres @ 6.0 g/t gold from 72.4 metres including 2.0 metres @ 18.5 g/t
gold from 73.9 metres and 3.4 metres @ 9.7 g/t gold from 97.9 metres including 0.3 metres @ 72.9
g/t gold from 101.0 metres while testing the down dip extensions of the historic Gladys mine area. Antimony
results are awaited.
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 EW to NE-SW trending felsic dykes,
within predominately NW oriented brittle multiple sheeted veins and cataclastic zones. Individual 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.
Mawson has now drilled strong gold results from multiple sheeted vein structures within a 200 metre by 150m area (Figure
1) with over 500 metres strike to test between historic mines, before drilling will step out to test the broader 11 kilometre
historic mine trend. Better results from individual structures include:
Apollo (ie: drill hole MDDSC005: 4.2 metres @ 3.4 g/t gold from 88.0 metres and 11.8 metres @ 3.1 g/t
gold from 123.7 metres),
Central (ie: drillhole MDDSC002: 5.0 metres @ 5.2 g/t gold from 53.8 metres and 21.0 metres @ 3.4 g/t
gold from 109.0 metres) and now
Gladys (ie: drillhole MDDSC0010: 7.0 metres @ 6.0 g/t gold from 72.4 metres including 2.0 metres @ 18.5
g/t gold from 73.9 metres and 3.4 metres @ 9.7 g/t gold from 97.9 metres including 0.3 metres @
72.9 g/t gold from 101.0 metres).
Mawson has now completed twelve drill holes (MDDSC001-012) with one hole in progress (MDDSC0013A) and one hole
abandoned (MDDSC0013) for 1,955.4 metres at the Sunday Cree k gold. Drilling continues. Assays from 10 out of the 12
completed holes have been released. Geophysical surveys (3 D induced polarization and ground magnetics) have been
completed.
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 ar e reported with a lower-cut of 0.5 g/t gold over a 2.5 metre width except on the e dge 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 photog raphing and logging in Mawson’s core logging
facilities in Nagambie, intervals were diamon d sawn in half by Mawson personnel. Half core is retained for verification and ref erence
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 insertio n of certified standards of know n gold content and blanks within
interpreted mineralized rock. In addition, On Site inserts blanks and standards into the analytical process.
None of the historic drill data quoted have been independently ve rified at this time. These historical data have not been verif ied by
Mawson and are quoted for information purposes only. Assay techniques for gold and antimony are unknown.
Qualified Person
Mr. Michael Hudson (FAusMM), Chairman and CE O 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 Rajapalo t gold project in Finland. Mawson also ow ns 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 sig nificant 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 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 successful completion of drill programs planned
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 outbreak of the novel coronavirus known
as COVID-19 on the Company’s business, planned drill programs an d results varying from expectatio ns, delays in obtaining result s,
equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in
operations due to permit grants, environm ental and safety risks, and other risks an d 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 o f
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).
Figure 2: Longitudinal Cross Section of the Gladys Mine Area showing Mawson drillholes MDDSC006-MDDSC0010 reported here.
Table 1: Collar information from Mawson’s drilling at the Sunday Creek Project
Coordinate Reference System GDA94, Zone 55 (EPSG:28355)
Area HoleID 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 Here
Gladys MDDSC007 330985 5867712 -42 70 321.5 150.8 Here
Gladys MDDSC008 331044 5867763 -52 253.2 320 99.2 Here
Gladys MDDSC009 331013 5867799 -50 260 311 105.9 Here
Gladys MDDSC010 331033 5867798 -60 214 310.5 151.3 Here
Gladys MDDSC011 331042 5867798 -55 270 310 215.8 TBA
Apollo MDDSC012 331172 5867842 -60 252.4 309 262.9 TBA
Apollo MDDSC013 331170 5867842 -68 223 309 43.4 Abandoned
Apollo MDDSC013A 331170 5867842 -68 223 309 41.4 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 1 metre @ > 2.0 g/t Au was applied.
No upper cut-off 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
MDDSC006 28.7 29.7 1.0 2.2
MDDSC006 32.7 33.5 0.8 0.9
MDDSC006 57.0 57.5 0.6 0.0
MDDSC007 76.2 82.0 5.8 2.2
including 78.6 78.9 0.4 22.3
MDDSC008 13.0 14.0 1.0 0.9
MDDSC008 15.0 16.0 1.0 0.4
MDDSC008 22.1 22.8 0.6 0.4
MDDSC008 25.7 26.6 0.9 1.4
MDDSC008 27.5 28.4 0.9 0.3
MDDSC008 31.2 33.6 2.5 1.0
MDDSC008 35.3 36.3 1.0 0.4
MDDSC008 67.7 69.8 2.1 7.6
including 67.7 68.4 0.7 21.5
MDDSC008 95.0 95.2 0.2 8.0
MDDSC009 23.8 26.2 2.4 0.5
MDDSC009 29.0 30.2 1.2 0.6
MDDSC009 30.5 30.7 0.2 0.9
MDDSC009 51.0 53.0 2.0 0.6
MDDSC009 67.0 68.7 1.7 2.4
MDDSC009 84.5 85.5 1.0 0.9
MDDSC010 39.5 42.5 3.1 4.3
including 40.9 41.5 0.6 19.2
MDDSC010 47.0 49.2 2.2 1.0
MDDSC010 50.2 50.4 0.2 0.4
MDDSC010 59.4 59.9 0.5 0.6
MDDSC010 70.4 70.6 0.2 0.7
MDDSC010 72.4 79.3 7.0 6.0
including 73.9 75.9 2.0 18.5
MDDSC010 82.3 84.6 2.3 0.9
MDDSC010 91.9 95.3 3.5 0.7
MDDSC010 97.9 101.3 3.4 9.7
including 101.0 101.3 0.3 72.9
MDDSC010 120.0 121.4 1.4 1.0