SXG Drills 470 Metre Downdip Extension Below Historic Golden Dyke Mine

VANCOUVER, BC / ACCESSWIRE / August 27, 2024 / Mawson Gold Limited (TSXV:MAW, Frankfurt:MXR, OTC PINK:MWSNF) has announced significant findings from two diamond drill holes at the 100%-owned Sunday Creek Project, Victoria, Australia. The holes, drilled by Southern Cross Gold Ltd. (SXG), significantly extend the exploration target area beneath the historic Golden Dyke mine.

Highlights include the successful intersection of high-grade gold veins. SDDSC125, drilled 190 meters below historic workings, revealed 1.0m @ 2.4 g/t AuEq. SDDSC126, drilled 470 meters below, intersected multiple high-grade veins, featuring intervals such as 0.4m @ 44.4 g/t Au and 0.2m @ 29.0 g/t Au.

These results indicate the potential for significant mineralization extending well beyond the current exploration area. Mawson owns 48.9% of SXG, valuing its stake at A$275.3 million based on the latest closing price.

With these "control" holes completed, the next steps involve drilling east to west, further testing the mineralized structures. Results from recently completed holes SDDSC130, 132, and 138 are pending.