General Precious Metals
Mawson Gold (TSX: MAW)(OTC: MWSNF) Executive Chairman Michael Hudson on Mawson Subsidiary SXG Hitting More High Grade at Sunday Creek
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? Great having you on.
Michael Hudson: Thanks. Nice to be back with the old hat on.
Gerardo Del Real: Well, listen, let's get right to it. Your subsidiary, SXG, Southern Cross Gold, just continues to hit. It just hit 14.6 meters of 7.3 grams per tonne gold equivalent. That included a 1.0 meter intercept of 73.8 grams per tonne gold equivalent at the Sunday Creek Project in Victoria, Australia. Give me the context, Mike. There was a lot in this release, a lot of really good technical information, including how the team at Southern Cross Gold continues to deliver and get more confident in the predictability of the vein sets, which was interesting to me.
Michael Hudson: Yeah, so Mawson owns 51% of Southern Cross, which is listed down here in Australia. And the discovery of course was spun out almost a year ago out of Mawson now. So time goes quickly. But in that time the project has just knocked it out of the park, literally. It's gone from a very good discovery in Victoria to an Australian leading discovery in the gold space. And now I think, in the way that it's just continually delivering, at least on a hit basis, on a 50 gram meter hit or a 100 gram meter hit basis, it really is globally significant now. And so the job for the Southern Cross team is to make it bigger, and that's what they're doing in spades with four rigs turning. The second challenge is to make it hang together and articulate that the story or the geology holds together.
And then the third thing I think, which is a little bit separate, is to continue to advance the project in the Victorian jurisdiction. And with four rigs turning, and turning over seven and a half kilometers of strike, three in the main area, one, seven and a half kilometers along strike in the extensions to the system that have never been drilled before but were mined down to a hundred meters over 120 years ago, it's certainly making it bigger is one part. But this release was all about that second point, making it hang together, and there was a humongous hole at Southern Cross drilled late last year. It was half a kilometer of mineralization, 13 new vein sets, an 800 gram meter hole or more, and one of those vein sets was tested by one of these holes in this release, 59. And it was tested 25 meters along strike, down at around half a kilometer depth, and it hung together very nicely, as predicted.
So hole 50 hit something like five meters at 36 grams equivalent with 0.4 at 159, and this hole, 25 meters away, hit 14.6 at 7.0, including that high grade and the predictability of higher grade, the meter at 73.8 that you spoke about. So, very good to see it start hanging together. The upside of this deposit is that it's very well constrained within a host rock and which is a big fault dyke breccia and then the predictability of these veins. There's lots of them that form a ladder across that dyke breccia. And now we're able to start drilling those veins along strike and hit them. So there's lots of them and we can now hit them along strike as well. So all very, very encouraging stuff.
Gerardo Del Real: You talked about making it bigger and I couldn't help but notice in the release that you speak about the 11 kilometer mineralized trend that extends beyond the main drill area. You also touched on that fourth drill rig that is looking to get in there and try to prove that out. Can you give me just a little context there, Mike?
Michael Hudson: Yeah, so big systems have big footprints and this has a big footprint. We're not drilling in a little postage stamp. We are drilling over about a kilometer strike from Golden Dyke to Apollo, and that's where most of the drilling has occurred. But there's 11 kilometers of the dyke structure, which was mined by historic miners, at least for five and a half of those 11 kilometers. And remember the old timers in the 1890s didn't find everything. So we've got a big footprint, very similar in scale to Fosterville, actually. Fosterville, which is the great analog here in Victoria, the highest grade gold mine on earth, and everybody knows how that has reinvigorated the gold fields down here, had a very similar footprint.
So, we're making it bigger at depth. We're drilling kilometer holes and hitting towards those. And some of the deepest holes are yet to come. They're in the lab at the moment, and drilling it along strike within that kilometer and then at that 11 kilometer trend. So multiple avenues to create value through discovery.
Gerardo Del Real: Assays pending. The hits keep coming. The grade keeps excelling and the continuity and as you put it, the way it's hanging in there, continues to encourage. A lot to like. Appreciate your time, as always, Mike.
Michael Hudson: Always a pleasure, Gerardo. Thanks for your time.Click here to see more from Mawson Gold Ltd.