| Announcement Date: | 2022-02-22 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Mawson Gold Ltd. |
| Project name: | Redcastle |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 0.5m @ 9.1g/t Au from 76.3m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, Canada — Mawson Gold Limited (“Mawson” or the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) is pleased to announce results and future plans for the Redcastle epizonal gold -antimony (“AuSb”) joint venture project in the Victorian Goldfields of Australia. The project is located 120 km north of Melbourne (Figure 1) within 56.7 sq. km of granted exploration tenements, immediately along strike from Mandalay Resources’ Costerfield mine (Figure 2), the sixth highest-grade global underground mine in 2020. Work at Redcastle during the 70% earn-in period has been undertaken by Mawson Victoria Pty Ltd (“Mawson Victoria”). Mawson Victoria was recently transferred from Mawson Gold Ltd to Southern Cross Gold Pty Ltd (“Southern Cross”) as part of a larger internal reorganization. Southern Cross holds three historic epizonal gold fields (Sunday Creek, Whroo and Redcastle) and is working towards a proposed initial public offering (“IPO”) on the Australian Securities Exchange (“ASX”). As at the date of this news release, Mawson holds 84.62% of Southern Cross’ issued shares after recently raising A$2.725 million privately into Southern Cross to fund ongoing exploration and IPO costs. |
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