More High-Grade Gold & Two Discoveries-in-the-Making

 

by Mike Fagan

Mike FaganMawson Gold (TSX: MAW)(OTC: MWSNF) — currently trading around C$0.35 per share — has released yet another set of high-grade drill results from its 100%-owned Sunday Creek Gold Project in the Victorian Goldfields of Australia.

The five holes reported on from this batch are all from the historic Gladys Mine area where old timers recovered high-grade gold up to an ounce per tonne from relatively shallow depths.

Mawson is currently drilling in and around and below those old workings and is consistently intersecting excellent gold grades in the neighborhood of 3 to 4 grams per tonne over decent widths.

The headline intercept from this current batch of assays comes in at 6 grams per tonne (g/t) gold over 7 meters, including 9.7 g/t gold over 3.4 meters.

Mawson CEO, Michael Hudson, whom you’ll be hearing more from in a moment, commented via press release:  
 

"Sunday Creek continues to deliver with our first results from the Gladys mine area. Encouragingly, the deepest hole, MDDSC010, reported here contains the best result reported to date from Gladys, and is reflective of drilling now testing below historic mined areas. Mawson has now drilled strong gold results from three individual sheeted vein structures: Apollo, Central and now Gladys. All areas remain open towards depth. Additionally, significant strike potential remains untested over 500 metres between and below historic mines, before we consider stepping out into the 11 kilometre historic mine trend."


Drilling is continuing via one rig with Mawson completing 12 holes [with one hole in-progress and one hole abandoned] for approximately 2,000 metres, thus far, at the Sunday Creek Gold Project.
 

Victorian goldfields


The plan going forward is to continue the systematic derisking of the project — which, by the way, also boasts a significant antimony byproduct — by drilling additional step out holes below the historic workings at the Gladys Mine area [500 meters of strike] plus several targets recently identified through geophysics along a total strike length of 11 kilometers.

And if you’ve been following our updates, you know that Mawson is simultaneously advancing its 700,000-plus ounce Rajapalot Gold-Cobalt Project in Finland where four rigs are currently spinning with numerous high-grade hits coming from that project as well.  

Rajapalot is a large discovery area with multiple hydrothermal gold-cobalt prospects within a 3 by 4 kilometer area wherein Mawson has completed over 63,000 meters of drilling to-date. Recent results include 6.9 grams per tonne gold and 732 ppm cobalt (7.4 g/t AuEq) over 5.5 meters at the Joki East target.

With multiple discoveries-in-the-making on two continents, it’s a bit of a mystery, frankly, as to why these successive high-grade results have not moved the needle share-value wise of late.

I think all we need, really, is for the gold price to regain some of its lost momentum... and hopefully we’ll begin to see that come to fruition in the coming weeks and months.

In the meantime, speculators can take comfort knowing the company has the drills turning on both of its primary projects with ample high-grade intercepts coming through on both.

Our own Gerardo Del Real of Junior Resource Monthly sat down with Mawson CEO, Michael Hudson, to go over the latest high-grade hits from Sunday Creek plus a quick drilling update from the flagship Rajapalot Gold Project, Finland. You can listen in to their conversation (and read the transcript) here.

Be sure to also click here for our most recent report on Mawson Gold.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest



Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.