Mawson Gold Limited (TSE:MAW) (OTCPINK:MWSNF) (FRA:MXR) has reported encouraging assays from another five drill holes at its Sunday Creek project in Australia, this time from the historic Gladys mine area.
Results included an intercept of seven metres (m) at a grade of 6 grams per ton (g/t) from a depth of 72.4m in one hole. That including a 2m length at 18.5 g/t of the yellow metal from 73.9 metres depth.
Also found in the same hole was 0.3 metres at 72.9 g/t gold from 101m depth.
READ: Mawson Gold reports more encouraging drill results from Sunday Creek in the famous Victoria goldfields
“Sunday Creek continues to deliver with our first results from the Gladys mine area,” said Mike Hudson, Mawson CEO in a statement.
Notably, the deepest hole, reported above, contained the best result reported so far from Gladys and is below the historic mined areas, Hudson pointed out.
At Sunday Creek, Mawson has now drilled strong gold results from three vein structures - Apollo, Central and now Gladys – and 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,” added the company boss.
Twelve holes, with one in progress and one hole abandoned have been drilled at the over 19,000 hectare project, which is an epizonal-style gold asset, 56 kilometres north of Melbourne. Drilling continues.
Historic gold mining there occurred between 1880 and 1920 over an 11 kilometre plus trend and Gladys was the longest worked field.
Drilling between 1990 and 2,000 focused on shallow, previously mined surface workings, covering an area of 100m in width, 800mlength but only to 80 metres average depth, highlighted Mawson.
Sunday Creek lies in the famous Victorian Goldfields in Australia, which have produced more than 80 million ounces of gold.
Last year, Mawson acquired three shallow high-grade gold assets in Australia – Clonbinane (renamed Sunday Creek), Redcastle and Doctor’s Gully.
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Story by ProactiveInvestors
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