Holes From Sunday Creek Creek Project Demonstrating Continuity

Holes From Sunday Creek Creek Project Demonstrating Continuity

VANCOUVER – Mawson Gold Limited reported that Southern Cross Gold Ltd. has released nine drill holes (SDDSC094A, 96, 98-104) from the Rising Sun area at its Sunday Creek Project in Victoria, Australia. Release of data from nine drillholes (SDDSC094A, 96, 98-104) that further enhance confidence and demonstrate continuity to near surface levels within the Rising Sun area. Notably, four of nine holes reported contain downhole cumulative intervals of > 100 g/t AuEq x metres.

Michael Hudson, Interim CEO and Executive Chairman, said, “These holes provide the critical elements to drill out a mineralized body as we keep on demonstrating continuity and predictability of gold-antimony mineralization. Completed as drill fans starting at the upper Rising Sun area and going to depth, they fill in large gaps in an up- and down-dip sense as well as testing the strike extension of the mineralized vein sets. They increase our confidence in the geological model and demonstrate the continuity that supports the <2.0 coefficient of variation of our assay data within modelled veins that our geostatistics provides."

The holes reported can be separated into two areas:

1) Rising Sun Upper and Rising Sun Lower. Rising Sun Upper SDDSC094A (cumulative 199 g/t AuEq x m @ 2 m @ 1g/t AuEq lower cut) and SDDSC098 (cumulative 134 g/t AuEq x m) showed continuity of high grades to near surface levels (from 70 m vertically below surface). The two drill holes intersected four mineralized vein sets each which provided key infill points and assist in the definition of a new vein set at Rising Sun, named RS35 (1.3 m @ 22.1 g/t AuEq (13.0 g/t Au, 5.8% Sb) from 277.3 m in SDDSC094A and 1.5 m @ 1.1 g/t AuEq (1.1 g/t Au, 0.0% Sb) from 241.1 m in SDDSC098. SDDSC096 (cumulative 13 g/t AuEq x m) with a highlight of 0.5 m @ 21.8 g/t AuEq (21.8 g/t Au, 0.0% Sb) from 120.8 m and SDDSC099 (cumulative 10 g/t AuEq x m) were drilled at too high an intersection angle across the mineralized host horizon, and therefore passed from the hangingwall to the footwall of the mineralized host too rapidly and remained in unaltered sediment until end of hole SDDSC101 and SDDSC103 were drilled 20 m to 30 m north of the host horizon and did not contain mineralization. They define the northern mineralization boundary in the western portion of Rising Sun Upper and provide further structural information in the hanging wall.

2) Rising Sun Lower SDDSC100 (cumulative 236 g/t AuEq x m) was drilled through the lower zone of Rising Sun, demonstrating up and down dip continuity between high-grade intervals intercepted in SDDSC082 and 77B. The hole was drilled 80 m to 180 m down dip from SDDSC077B and 7 m to 160 m up dip from SDDSC082 (Figure 3) and provides critical infill points to confirm continuity of eleven vein sets over 430 vertical m.

Ten holes (SDDSC0105 – 107, 108A, 109-112, 112W1, 114) are currently being processed and analyzed, with three holes (SDDSC113, 115A, 116) currently in progress (Figures 1-2). Southern Cross Gold has stated that it anticipates drilling an additional 19,000 m by April 2024.