Categories: Precious Metals
Topics: General Precious Metals

Mawson Gold (TSX: MAW)(OTC: MWSNF) Executive Chairman Michael Hudson on Hitting Exciting Gold & Antimony Grades at the Majority-Owned Sunday Creek Project, Australia

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the executive chairman of Mawson Gold — Mr. Michael Hudson. Mike, how are you today?

Michael Hudson: Good morning, Gerardo. Great to be with you again.

Gerardo Del Real: It's great to have you back. Once again, your ASX-listed subsidiary, SGX, which, of course, Mawson is a 51% shareholder of, has hit some just incredible numbers: 0.6 meters of 161.6 grams per tonne gold equivalent. And then, just for kicks, you also hit 46.8% antimony. And so, just phenomenal numbers. 

This is what I consider a new discovery; it's a new vein. Can you provide some context on it?

Michael Hudson: Yeah, this is just more building block results for Southern Cross that they're seeing in Australia. They're staggering results. And I’ll sort of play it down by saying they're just more building block results. But this project has been literally spitting out amazing gold results. And now, the Southern Cross team is starting to move into two different phases. 

One is looking for new extensions and new veins, remembering that there's literally dozens of these veins. And they've found a new one here in the west in an area called Rising Sun. And that's the result that you spoke about. It had one hole in it before… so two holes now… and something like a 130-meter step out where we can define the new vein there.

But then, we're also starting to work toward refining areas, I suppose, as we start to infill and drill and the project starts to become coherent and putting volumes and, eventually, tonnes and then grade around it. It's not at the resource stage yet but it's certainly pivoting towards the expansion. And there's probably only 50% of the main core area explored to date… so it's certainly not moving just to infill drilling alone. 

But now, we just need to strategize and find new areas but also refine existing ones. And then, of course, there's the regional exploration where we're drilling also, which is where we'll create a 10X footprint to basically take them from 1 km to 10 km. So lots happening down at Southern Cross.

Gerardo Del Real: Well, Mike, you're busy. And as you can tell from the background noise, you're in the field and up and at it as you always are. It's my understanding that there are three rigs at Sunday Creek now, and I understand a fourth is expected to return to site over the next month or so. 

You kind of already answered my next question, which was going to be, ‘What comes next?’ But it looks like a combination of infill drilling to get this to the resource definition stage and also a combination of exploration drilling to go drill for new discoveries. Is that accurate?

Michael Hudson: Yeah, absolutely. As I said, the strategy around a discovery is just a really interesting internal conversation to be had. Certainly, staying on the Lassonde Curve is a key requirement, I believe. And we believe in the Southern Cross/Mawson team in keeping that discovery going because that's a true way to wealth creation for shareholders is to make a deposit bigger and not try and lock it down quickly. 

But that's not in isolation. You can't be just an explorer without putting together your coherent resources. And hence, the dual strategy the project is now pivoting into. There are three rigs turning today. There had been four turning for the last six months. But one of the rigs just got a bit of an upgrade so that rig will be back with us in the next month. 

Yeah, it's quite a discovery that Southern Cross has. It's still early days and one of the better gold discoveries in the world today without a doubt; I think we can say that now.

Gerardo Del Real: I can't let you go without asking you about the other part of the portfolio, which is, of course, the 100%-owned Mawson holdings. How are things progressing on that front?

Michael Hudson: Yeah, we've taken a bit of a step back post-PEA, and said, ‘Well, where are we?’ And clearly, again, the PEA demonstrated that we have a potential project but we'd like to make it bigger. It needs more ounces… so that's what we’ve looked at over the last four or five months. 

We've had some independent eyes come in after a very steady team held the tiller on that project for quite a long time. So having independent reviews is important in any project. And basically the concept is, ‘Can we bring another half to one million ounces through lower-risk exploration into that project?’ And if that's possible, then it would look like a very compelling proposition.

So that's where we're at. And there certainly is a belief, internally, that that can happen. And now, we've just got to work out strategically where to go with our board and shareholders as to how to shine a light on the two different parts, which is that very good start and good project in Finland and the 51% holding in Southern Cross Gold. 

You'll see those decisions enunciated in the public domain over the next quarter or so as we unlock all of the opportunities in Mawson.

Gerardo Del Real: Well, I’ve got to say, Mawson is one of the more compelling, in a big basket at this point, of gold speculations out in the space. I know it's summer… I know people get bored… I know people tend to check out for the most part until September. 

But in the meantime, Mawson continues to add value to what's already a very, very undervalued company relative to its peers and relative to historic valuations. Mike, I want to thank you for your time, and I'm looking forward to getting you back on. I'll let you get back to it.

Michael Hudson: Thanks, Gerardo. Me and the magpies down here in Australia say goodbye to you!

Gerardo Del Real: I appreciate it! Have a good one out there.

Michael Hudson: Thank you.

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