Mawson Gold (TSX: MAW) CEO Michael Hudson on Launch of Drilling at Sunday Creek Gold Project & Geophysics at Redcastle Gold Project in Australia
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the Chairman and CEO of Mawson Gold (TSX: MAW)(OTC: MWSNF), Mr. Michael Hudson. Mike, how are you?
Michael Hudson: Very well. I hope you can hear me, Gerardo. I'm driving to a drill rig.
Gerardo Del Real: Live from the field down under. I love it. How are things coming along? You just had some exciting news that you announced. Diamond drilling and geophysics underway in Australia. A lot to get to. Two projects. One rig initially, a second one arriving soon, and a big, big, important program. Can you give us some details?
Michael Hudson: Yeah, sure. Taking a little bit longer than we would have anticipated. We've got a state of disaster down here in Victoria. Melbourne's in Stage 4 lockdowns and curfews, but country Victoria is in Stage 3, which allows us all to continue to explore. Mining is considered an essential service and exploration is part of the mining business, so we're underway.
We've got some great drillers contracted, rigs secured, and, literally, I am on the way to the drill rig at Sunday Creek, where we'll be drilling our three initial holes. We're drilling diamond holes into the upper parts of the deposit. We're now diamond drilling to get that structural control, understand the system, do some initial drilling there, orientate the drill core, and then we'll move the drill rig directly to Red Castle, which is the second project you referred to.
Sunday Creek's 100% owned by us. Red Castle's a joint venture where we can earn 70% over the next 5 years by spending a million bucks. We'll spend that million bucks pretty soon. We're pretty excited about all the projects here, but Red Castle, especially. That's where we've got the geophysics teams running, too. We've got four different types of geophysics occurring there. The first one is gradient array IP, which is the first time it's ever been run over that gold field and it's working a treat at the moment. It's mapping, basically, the rocks, so we can now be much more predictive where to go and poke the drill rig, and then we'll be following up with other more detailed IP dipole-dipole that will help us see the depth. Then magnetics and gravity, and then the geophysics crew will move to Clonbinane. So lots happening, and we're not stopping drilling, and more rigs coming. It's all happening, as they say.
Gerardo Del Real: It's a lot of news flow. Let me start with Sunday Creek. There's an initial 500 meters. You mentioned three holes, I believe. How far spaced will those be?
Michael Hudson: They will be something like over a few hundred meters, I think. There's two holes that may be around only 50 or 60 meters apart to determine continuity, and then we've got another hole a few hundred meters away from that. That's how it's shaping for just the first few weeks, right? Just to learn about this system as we ease our way into that. We'll have to do a lot more drilling there. But we haven't done the geophysics at Sunday Creek yet, so we're just easing our way into that project. Then when the geophysics has been completed over the next few weeks, that's why the rig is going to Red Castle next.
Gerardo Del Real: Excellent. It sounds like you're going to have two rigs at Red Castle, right? The first, initially, and then the second one that arrives here in the next four to six weeks?
Michael Hudson: That's right. We can see, obviously, a lot more drilling. It allows us to start with a bit of rigor and systematics and getting it all right and understanding the geology. Having drill rigs up your behind, literally, you want to make sure you're spending that money appropriately. So we're just staging it.
Gerardo Del Real: Exciting times in Australia. Finland, we're expecting a resource update soon, I believe. Is that still on track for month end?
Michael Hudson: Yes, it should be. We're delayed by a few weeks just due to just practical issues and our people working a little differently. But we should have it at month's end or soon thereafter. It's imminent.
Gerardo Del Real: Mike, that's a lot of news flow here over the next several months. Is there anything else that you'd like to add? I know you have to be excited to start pulling core and seeing the rocks in Australia home, right?
Michael Hudson: Yeah, absolutely. Well, there's only one way to make discoveries and that's the drill. We've had four months waiting to do that since we acquired these projects, essentially. Very excited, as everybody should be.
Gerardo Del Real: Agreed, I'm looking forward to it. Mike, I'll let you get back to it. Thank you so much for your time today. I appreciate it.
Michael Hudson: All hands-free, Gerardo. Thanks a lot. Take care.
Gerardo Del Real: Stay safe.