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Mawson Gold hits good gold grades from surface with first hole at Sunday Creek in Victoria goldfields

The drill campaign is part of the firm's ongoing 5 kilometre (km) program in the area

Mawson Gold Limited -
The first hole hit 15.2 metres (m) at 3.7 grams per ton (g/t) gold from surface

Mawson Gold Ltd (TSE:MAW) (OTCPINK:MWSNF) has made what it called a "strong" start to drilling in the famous Victoria goldfields in Australia, with the first hole at its Sunday Creek project hitting 15.2 metres (m) at 3.7 grams per ton (g/t) gold from surface.

The drill campaign is part of the firm's ongoing 5 kilometre (km) program in the area. Sunday Creek, spanning over 10,000 hectares, is an epizonal-style gold prospect 56 kilometres north of Melbourne.

READ: Mawson Gold eyeing 'game-changing discovery' as it starts diamond drilling in Finland at Hirvimaa and East Joki zones

"This result confirms the tenor of gold-mineralization found in poorly located reverse circulation drilling from the 1990s and tested what appears to be an unmined area immediately from the surface," said Michael Hudson, the chief executive of Mawson said in a statement.

"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."

Earlier this year, Mawson struck a deal with Australia-listed Nagambie Resources (ASX:NAG) giving it access to three high-grade, Fosterville-style (shallow-orogenic or epizonal) exploration projects with numerous historic mines that lacked drill testing to depth.

This first hole at Sunday Creek also hit 0.6 metres at 17.9 g/t of the precious metal from 10.4 metres depth, while testing unmined extensions of the historic Apollo mine area.

Drilling at Sunday Creek during 1990-2000s focused on shallow, previously mined surface workings, covering an area of 100m by 800m but only to 80m depth. Thus, the entire field remains open along strike and to depth, Mawson noted.

Three initial holes have so been completed at the project for 345m.

"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," added the company.

Contact the author at giles@proactiveinvestors.com

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