Categories: Precious Metals
Topics: General Precious Metals / Gold Stocks

Mawson Gold (TSX-V: MAW)(OTC: MWSNF) Executive Chairman Michael Hudson on More Bonanza-Grade Gold Hits, Plus Antimony, at Sunday Creek Project, Australia

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the interim CEO & executive chairman of Mawson Gold — Mr. Michael Hudson. 

Mike, I would ask how you are but I suspect you're going to tell me you're in the field at PDAC celebrating the latest bit of news from your 51%-owned subsidiary Southern Cross Gold. Congrats are in order. I'll explain why in a second. How are you, sir?

Michael Hudson: I usually say, ‘Top of the world Down Under!’ But when I'm in Canada, I'm not allowed to say that… but it's been a good day!

Gerardo Del Real: I bet it has! Listen, let me get right to it. You just drilled one of the single most impressive drill holes that I've seen in some time. And so let me just break it down. It was 0.3 meters of 7,330 grams per tonne gold within one meter of 2,318 grams per tonne gold. 

However, this is the part that really, really, really caught my eye. That was within a broader interval of twelve high-grade vein sets of 455.3 meters of 7.2 grams per tonne gold. And oh, by the way, just for kicks, you had a great antimony credit to go along with it. 

So congratulations. Absolutely spectacular results from Southern Cross and Sunday Creek.

Michael Hudson: Thanks, Gerardo. The result is outstanding. It will be one of the best drill holes this year, if not the last few years drilled in the space. It truly is just one of those holes. But this is one of those deposits. 

And the context of the hole is even more important. This was actually one of the first holes we've drilled within closer distance to other good holes because we've been stepping out and increasing the volume there, or Southern Cross has, I should say. But I'm the managing director of Southern Cross as well — so I swap hats. 

But the context of the high-grade zone is probably the most impressive seeing that 1 meter at 2,300 grams was 17 meters away from one of the key earlier results in Hole-92, which was something like 3.3 meters at… 

Gerardo Del Real: …267.8 grams per tonne gold.

Michael Hudson: Thank you. And there was another meter in there at something like 1,600 g/t Au. So it's the first time we've seen the very high grades have context with each other. 

And if we can continue to build up continuity between these very high grades, literally, the margins on these extremely ultra high-grade zones, you can mine 7,000 or 8,000 tonnes and get a year's worth of production.

That's the kind of thing these mines can do. This is not a mine; this is an exploration project. But that's what makes this so exciting.

Gerardo Del Real: Well, listen, spoiler alert, we have seven holes that are being processed and analyzed. Three holes are in progress. Can you give me an idea of the status on the ground and on the drills that are turning and what we can expect next? 

Because, look, I wrote an update earlier to subscribers, and I ended it with, ‘I don't anticipate that this is going to be the last absolutely bonanza grade out of this part drill result that we get from Southern Cross and Sunday Creek.’ So tell me what comes next.

Michael Hudson: Well, I can tell you ‘The trend is your friend!’ And if you look at the way this project has delivered consistently the best result after the best result… the top five results in this project have come within the last three or four months. And the average grade has kept on increasing and increasing if you take the stats of our database. 

We're obviously onto something incredibly good. We know and understand the deposit and the partitioning of the grade. So we can target it. And then, thirdly, I think just having the very good fortune that this deposit is just extraordinary. So all of those kinds of things add up. I can't tell you because I don't know… but if the trend continues, we're doing okay!

Gerardo Del Real: Four rigs are operating. I cannot wait for the next set of results. For everyone out there that may be newer to the space or that has an appreciation for nuance, that was Michael Hudson's way of telling everyone that we have a tiger by the tail — and stay tuned! 

Everybody should be going to the Mawson Gold and Southern Cross Gold websites to take a look at some absolutely spectacular rock. 

This happens at a time where gold just hit a brand new all-time high and seems like it's headed very, very much higher. So your timing is impeccable, sir. Congratulations again. Anything to add to that?

Michael Hudson: Yeah, I think you can comment on the market but I think this is just one of those discoveries that is heading towards being just one of those discoveries that could reinvigorate the whole market and the dream of what amazing value can come through exploration discoveries — especially when they're so high-grade. 

So there's no doubt we've got a tiger by the tail. And stay tuned… there's always drill results coming out of Southern Cross with four rigs turning.

Gerardo Del Real: And I have to say one last thing. This is why I get so excited about the junior resource space and adding value via the drill bit. Because Mawson Gold has a 52-week low of just C$0.14 per share. It hit a high today of C$0.49. 

And anytime you get 200%-plus returns in a market where a lot of the gold equities are still drastically underperforming the market, it speaks to how quickly a position can turn. You can go from being down 50% to being up a couple hundred percent really, really quickly. 

This obviously is a special hit at a special project with a phenomenal group of technical people advancing it. When you get one of these — it's special.

Michael Hudson: It is very special, no doubt.

Gerardo Del Real: Mike, thanks again for the time. Looking forward to future updates.

Michael Hudson: Thanks, Gerardo.

Gerardo Del Real: Cheers.

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