Categories:
Precious Metals
Topics:
General Precious Metals
Mawson Gold (TSX: MAW)(OTC: MWSNF) CEO Ivan Fairhall on New Discovery in Sweden, Ongoing PEA, Free Million Ounces of AuEq in Finland and 60% Stake in Southern Cross Gold
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Mawson Gold, Mr. Ivan Fairhall. Ivan, how are you today, sir?
Ivan Fairhall: I'm very good. I'm very good today. How are you?
Gerardo Del Real: I am well. Thank you so much for making time. I understand you are at PDAC, which makes for perfect timing to be announcing a new discovery, this time in Sweden. You just drilled 1.8 meters of 28.4 grams per tonne gold. That included 0.4 meters of 132 grams per tonne gold. This is in the Maiden Drill Program. Congratulations. You have to be excited to keep delivering accretive news to the market.
Ivan Fairhall: Oh, absolutely. It's fantastic news. Skellefteå’s a project that we only acquired in January, had an outcropping gold mineralization. We knew something was there. So we got to work and drilled it quickly. And to get these assays back from the first two holes of a drill hole program into a property that has never been drilled before. It's a good start. I can say that. It's a good start.
Gerardo Del Real: Now you're targeting a mineralized outcrop that's been mapped for 180 meters along surface. These two hits, right? The 4.4 meters of 4.8 grams per tonne gold and the 1.8 meters of 28.4 grams per tonne gold were from very shallow depths, right? 40 meters and 82.8 meters. Respectively, tell me a bit more, Ivan, about the target and the assays that are pending because we still have some holes to be reported, right?
Ivan Fairhall: Yeah. That’s right. Look, this is just the beginning. We announced a modest program to begin to understand the property. As I said, we had a 180 meter outcrop. We sampled it during due diligence, we did channel sampling, we got to understand a little bit about the continuity and we're testing that outcrop at the moment, but so it's 180 meters so we're just scratching the surface in terms of depth. But, in terms of the system, I think where it really gets interesting is we have a regional magnetic anomaly. That's about two kilometers in length. Seems to be coincident with this mineralization that we saw on surface. Now we've drilled through a little bit of depth and it's really going to be about building this story over a much bigger scale. That's what's getting us really excited about the program.
Gerardo Del Real: Elsewhere in the portfolio, you are undertaking a PEA work program in Finland, and of course your subsidiary Southern Cross Gold reported some phenomenal results here recently at Sunday Creek. Mawson Gold of course owns 60% of Southern Cross Gold. Can you give us an update there, Ivan?
Ivan Fairhall: Sure. Yeah. Look, Skellefteå is now the third asset, a real third note of value in our project. Of course, we have our Rajapalot Project. We have a million ounces in resources. That's a project in our view, and that's why we're doing a PEA to articulate the economics of that project, draw out some of the real structured advantages of those projects, that deposit given at this location and how, what that means for capital and operating costs. And then of course, Sunday Creek down in Australia, our spinout Southern Cross Gold. That project is really delivering. Mawson owns 60% of that company. They obviously put out that drill result last week, 119 meters at 3.9 grams a tonne gold equivalent – phenomenal result. The ASX market really grabbed a hold of the story. They can see the value down there. That's why they did that stock up to $100 million. Mawson owned 60% of that. Our stake in that business today is worth more than our entire market.
Gerardo Del Real: You can't make this stuff up, Ivan. I laugh because it's so ridiculous. I don't know how much more clearly I can articulate to the market that you're getting what I believe will be a mine one day. The deposit there, that's at a million ounces across all categories there in gold equivalent. I think that's going to be a multimillion ounce mine one day. The Sunday Creek drilling speaks for itself. And now you're onto a new discovery in Sweden. There's a lot to like there, upcoming assays, concurrent work program, more drilling from Sunday Creek. Am I missing anything, Ivan?
Ivan Fairhall: No, I think that's enough for today. I think that should be enough for everyone, with that I think it is a little bit of a tough market and we're not being rewarded in our share price, but we are being rewarded for the work that we're doing. We're investing in our assets, we're moving them forward. And when this market turns, the market will see that value and I think that we'll benefit from the work that we've been doing.
Gerardo Del Real: Well said, Ivan, thanks for making time. Thank you so much.
Ivan Fairhall: Great. Thanks a lot, Gerardo.