Mawson Drills 7.0 metres at 6.0 g/t Gold and 3.4 metres at 9.7 g/t Gold at Sunday Creek in Victoria, Australia

(firmenpresse) - Vancouver, Canada - Mawson Gold Limited (Mawson or the Company) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF - https://www.commodity-tv.com/ondemand/companies/profil/mawson-gold-ltd/) is pleased to announce assay results from five further drill holes (MDDSC006-10) from the 100%-owned Sunday Creek project in the Victorian Goldfields of Australia. All holes were drilled at the historic Gladys mine area. The project is an epizonal-style gold prospect located 56 kilometres north of Melbourne and contained within 19,365 hectares of granted exploration tenements.

Highlights:

- Diamond drillhole MDDSC0010 intersected 7.0 metres (at) 6.0 g/t gold from 72.4 metres including 2.0 metres (at) 18.5 g/t gold from 73.9 metres and 3.4 metres (at) 9.7 g/t gold from 97.9 metres including 0.3 metres (at) 72.9 g/t gold from 101.0 metres while testing the down dip extensions of the historic Gladys mine area. Antimony results are awaited. (Tables 1-3, Figures 1 and 2).
- Diamond drillhole MDDSC008, drilled 60 metres above MDDSC010, intersected 2.1 metres (at) 7.6 g/t gold, 1.7% antimony from 67.7 metres including 0.7 metres (at) 21.5 g/t gold and 5.0 % antimony from 73.9 metres and 0.2 metres (at) 8.0 g/t gold, 3.9 % antimony from 95.0 metres;
- Diamond drillhole MDDSC007, drilled 60 metres to the SW of MDDSC010, intersected a broad 20 metre lower grade zone from 76.2 metres, that included 5.8 metres (at) 2.2 g/t gold, 0.4 % antimony from 76.2 metres including 0.4 metres (at) 22.3 g/t gold and 3.2 % antimony from 78.6 metres;
- Twelve drill holes (MDDSC001-012) with one hole in progress (MDDSC0013A) and one hole abandoned (MDDSC0013) for 1,955.4 metres have been now completed at the Sunday Creek gold project. Drilling continues.

Michael Hudson, CEO, states: 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.

At Sunday Creek, historic gold mining occurred between 1880-1920 over a greater than 11 kilometre trend. Drilling during 1990-2000s focused on shallow, previously mined surface workings, covering an area of 100 metres in width, 800 metres length but, only to 80 metres average depth. As such, the entire field remains open along strike and to depth.

Within this, Gladys was the longest worked field on the historic project in the late 1800s and early 1900s, extending over 110 metres in a series of sheeted stibnite-rich veins, predominately hosted within a cataclastic faulted siltstone. Variable amounts of felsic dyke are present, but mineralization is not as intimately associated with the dykes compared to other areas on the project (ie the Apollo mine area).

A series of historic shallow aircore holes tested Gladys in the mid-1990s. Mawson results are in keeping with or exceed the shallow drillholes that tested oxide mineralization (Figure 2). Better historic results include:

- CRC028: 19 metres (at) 2.7 g/t Au from 6 metres
- CRC026: 8 metres (at) 6.3 g/t Au from 9 metres
- CRC006: 13 metres (at) 3.4 g/t Au from 17 metres
- CRC007: 15 metres (at) 2.9 g/t Au from 7 metres

Five diamond drill holes (MDDSC006-10) from Gladys are reported here (Tables 1-3, Figure 1):

- MDDSC006, drilled 50 metres up dip from MDDSC010, intersected 0.6 metres (at) 4.4% antimony, with no gold returning in assay, despite the presence of visible gold being noted.
- MDDSC007, drilled 60 metres to the SW of MDDSC010, intersected a broad 20 metre lower grade zone from 76.2 metres, that included 5.8 metres (at) 2.2 g/t gold, 0.4% antimony from 76.2 metres including 0.4 metres (at) 22.3 g/t gold and 3.2% antimony from 78.6 metres.
- MDDSC008, drilled 60 metres up dip of MDDSC010, intersected 2.1 metres (at) 7.6 g/t gold, 1.7% antimony from 67.7 metres including 0.7 metres (at) 21.5 g/t gold and 5.0% antimony from 73.9 metres and 0.2 metres (at) 8.0 g/t gold, 3.9% antimony from 95.0 metres.
- MDDSC009, drilled 50 metres NW from MDDSC010, intersected a broad zones of lower grade gold, with the best result being 1.7m (at) 2.4 g/t Au from 67 metres. Antimony results are awaited.
- MDDSC0010 intersected 7.0 metres (at) 6.0 g/t gold from 72.4 metres including 2.0 metres (at) 18.5 g/t gold from 73.9 metres and 3.4 metres (at) 9.7 g/t gold from 97.9 metres including 0.3 metres (at) 72.9 g/t gold from 101.0 metres while testing the down dip extensions of the historic Gladys mine area. Antimony results are awaited.

Mineralization at Sunday Creek is hosted in late-Silurian to early-Devonian-aged shales and siltstones containing a series of dykes of felsic-intermediate composition. Gold is concentrated mainly in and around the EW to NE-SW trending felsic dykes, within predominately NW oriented brittle multiple sheeted veins and cataclastic zones. Individual high-grade quartz-stibnite veins at Apollo and Golden Dyke, and cataclastic zones at Gladys were the focus of historical mining at Sunday Creek. These zones have been proven to continue to depth by Mawson. Broader vein-hosted and cataclastic mineralization grading less than 15 g/t gold appears untouched by the historic miners.

Mawson has now drilled strong gold results from multiple sheeted vein structures within a 200 metre by 150m area (Figure 1) with over 500 metres strike to test between historic mines, before drilling will step out to test the broader 11 kilometre historic mine trend. Better results from individual structures include:

- Apollo (ie: drill hole MDDSC005: 4.2 metres (at) 3.4 g/t gold from 88.0 metres and 11.8 metres (at) 3.1 g/t gold from 123.7 metres),
- Central (ie: drillhole MDDSC002: 5.0 metres (at) 5.2 g/t gold from 53.8 metres and 21.0 metres (at) 3.4 g/t gold from 109.0 metres) and now
- Gladys (ie: drillhole MDDSC0010: 7.0 metres (at) 6.0 g/t gold from 72.4 metres including 2.0 metres (at) 18.5 g/t gold from 73.9 metres and 3.4 metres (at) 9.7 g/t gold from 97.9 metres including 0.3 metres (at) 72.9 g/t gold from 101.0 metres).

Mawson has now completed twelve drill holes (MDDSC001-012) with one hole in progress (MDDSC0013A) and one hole abandoned (MDDSC0013) for 1,955.4 metres at the Sunday Creek gold. Drilling continues. Assays from 10 out of the 12 completed holes have been released. Geophysical surveys (3D induced polarization and ground magnetics) have been completed.

Technical and Environmental Background

Tables 1-3 provide collar and assay data. The true thickness of the mineralized interval is interpreted to be approximately 70% of the sampled thickness. Gold-only intersections are reported with a lower-cut of 0.5 g/t gold over a 2.5 metre width except on the edge of calculated intervals where 1 metre (at) >2.0 g/t gold was applied. No upper cut-off was applied.

A diamond drill rig from contractor Starwest Pty Ltd was used in the program. Core diameter is HQ (63.5 mm) and oriented with excellent core recoveries averaging close to 100% in both oxidized and fresh rock. After photographing and logging in Mawsons core logging facilities in Nagambie, intervals were diamond sawn in half by Mawson personnel. Half core is retained for verification and reference purposes. Analytical samples are transported to On Site Laboratory Services Bendigo facility which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis use aqua regia digest and ICP-MS methods. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content and blanks within interpreted mineralized rock. In addition, On Site inserts blanks and standards into the analytical process.

None of the historic drill data quoted have been independently verified at this time. These historical data have not been verified by Mawson and are quoted for information purposes only. Assay techniques for gold and antimony are unknown.

Qualified Person

Mr. Michael Hudson (FAusMM), Chairman and CEO for the Company, is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure or Mineral Projects and has prepared or reviewed the preparation of the scientific and technical information in this press release.

About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)

Mawson Gold Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold project in Finland. Mawson also owns or is joint venturing into three high-grade, historic epizonal goldfields covering 470 square kilometres in Victoria, Australia and is well placed to add to its already significant gold-cobalt resource in Finland.

On behalf of the Board,


"Michael Hudson"--
Michael Hudson, Chairman & CEO-

Further Information
www.mawsongold.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary,
+1 (604) 685 9316, info(at)mawsongold.com

In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch

Forward-Looking Statement

This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, timing and successful completion of drill programs planned Sunday Creek, capital and other costs varying significantly from estimates, changes in world metal markets, changes in equity markets, the potential impact of epidemics, pandemics or other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on the Companys business, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson''s most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Figure 1: Plan location of the Sunday Creek Project showing 11 km trend of historic mines (bottom left) and location of historic mine areas and drilling (top).
https://www.irw-press.at/prcom/images/messages/2021/56671/11022021_EN_MAW210211.001.png


Figure 2: Longitudinal Cross Section of the Gladys Mine Area showing Mawson drillholes MDDSC006-MDDSC0010 reported here.
https://www.irw-press.at/prcom/images/messages/2021/56671/11022021_EN_MAW210211.002.png



Table 1: Collar information from Mawsons drilling at the Sunday Creek Project
Coordinate Reference System GDA94, Zone 55 (EPSG:28355)
Area HoleID EastinNorthiDipAzimutRL (mDepth (Date
g ng h ) m Reported
)

Central MDDSC001331080586776-55283.3 318 67 October
9 .5 07,
2020

Central MDDSC002331085586777-65241.9 318 150.3 October
1 .6 27,
2020

Rising MDDSC003330776586789-65240.2 295 127.7 October
Sun 2 .2 27,
2020

Golden MDDSC004330637586782-44240.5 321 280 January
Dyke 2 05,
2021

Apollo MDDSC005331029586779-4589.6 311 160.1 January
8 .5 05,
2021

Gladys MDDSC006331023586779-39237.1 311 99.6 Here
9 .4

Gladys MDDSC007330985586771-4270 321.5150.8 Here
2

Gladys MDDSC008331044586776-52253.2 320 99.2 Here
3

Gladys MDDSC009331013586779-50260 311 105.9 Here
9

Gladys MDDSC010331033586779-60214 310.5151.3 Here
8

Gladys MDDSC011331042586779-55270 310 215.8 TBA
8

Apollo MDDSC012331172586784-60252.4 309 262.9 TBA
2

Apollo MDDSC013331170586784-68223 309 43.4 Abandoned
2

Apollo MDDSC013331170586784-68223 309 41.4 In
A 2 progress


Table 2: Intersections from the Sunday Creek. Intersections are reported with a lower cut of 0.5 g/t Au cut over 2.5 metre width, except on the edges of the calculated intervals where 1 metre (at) > 2.0 g/t Au was applied.
No upper cut-off was applied
HoleID From (m) To (m) Width (m) Au g/t
MDDSC0010 15.2 15.2 3.7
includin10.4 11.0 0.6 17.9
g

MDDSC00217.2 18.0 0.9 1.9
MDDSC00226.5 26.7 0.3 6.0
MDDSC00239.0 41.0 2.0 1.3
MDDSC00250.0 52.0 2.0 0.8
MDDSC00253.8 59.0 5.2 5.0
includin53.8 54.09 0.29 79.4
g

MDDSC00276.0 76.5 0.5 1.1
MDDSC00296.0 96.6 0.6 2.3
MDDSC002109.0 130.0 21.0 3.4
includin109.0 110.1 1.1 22.3
g

MDDSC002143.0 144.0 1.0 1.9
MDDSC00371.7 79.6 7.9 1.8
MDDSC00383.6 84.5 0.9 1.0
MDDSC00391.5 92.0 0.5 0.6
MDDSC003115.6 116.0 0.4 1.5
MDDSC003117.0 118.7 1.7 0.8
MDDSC00588.0 92.2 4.2 3.4
MDDSC00599.3 99.6 0.2 1.3
MDDSC005100.4 103.4 3.0 VOID
MDDSC005107.1 107.7 0.6 2.3
MDDSC005108.8 109.0 0.2 3.0
MDDSC005119.8 120.2 0.4 2.5
MDDSC005122.9 123.2 0.3 2.0
MDDSC005123.7 135.2 11.5 3.3
includin123.7 123.8 0.1 52.6
g

includin128.2 128.6 0.3 17.9
g

includin133.5 133.7 0.3 45.1
g

MDDSC00588.0 135.5 47.5 1.3
MDDSC00628.7 29.7 1.0 2.2
MDDSC00632.7 33.5 0.8 0.9
MDDSC00657.0 57.5 0.6 0.0
MDDSC00776.2 82.0 5.8 2.2
includin78.6 78.9 0.4 22.3
g

MDDSC00813.0 14.0 1.0 0.9
MDDSC00815.0 16.0 1.0 0.4
MDDSC00822.1 22.8 0.6 0.4
MDDSC00825.7 26.6 0.9 1.4
MDDSC00827.5 28.4 0.9 0.3
MDDSC00831.2 33.6 2.5 1.0
MDDSC00835.3 36.3 1.0 0.4
MDDSC00867.7 69.8 2.1 7.6
includin67.7 68.4 0.7 21.5
g

MDDSC00895.0 95.2 0.2 8.0
MDDSC00923.8 26.2 2.4 0.5
MDDSC00929.0 30.2 1.2 0.6
MDDSC00930.5 30.7 0.2 0.9
MDDSC00951.0 53.0 2.0 0.6
MDDSC00967.0 68.7 1.7 2.4
MDDSC00984.5 85.5 1.0 0.9
MDDSC01039.5 42.5 3.1 4.3
includin40.9 41.5 0.6 19.2
g

MDDSC01047.0 49.2 2.2 1.0
MDDSC01050.2 50.4 0.2 0.4
MDDSC01059.4 59.9 0.5 0.6
MDDSC01070.4 70.6 0.2 0.7
MDDSC01072.4 79.3 7.0 6.0
includin73.9 75.9 2.0 18.5
g

MDDSC01082.3 84.6 2.3 0.9
MDDSC01091.9 95.3 3.5 0.7
MDDSC01097.9 101.3 3.4 9.7
includin101.0 101.3 0.3 72.9
g

MDDSC010120.0 121.4 1.4 1.0


Table 3: Individual assay data (Au>0.3g/t) from drill holes reported in this press release.

HoleID From (m) To (m) Width Au g/t
(m)

MDDSC006 28.7 29.7 1 2.21
MDDSC006 32.7 32.9 0.2 1.02
MDDSC006 32.9 33.5 0.6 0.84
MDDSC007 76.2 76.54 0.34 7.9
MDDSC007 76.54 77.2 0.66 0.46
MDDSC007 78.55 78.9 0.35 22.3
MDDSC007 78.9 79.9 1 0.54
MDDSC007 79.9 80.9 1 0.58
MDDSC007 81.26 81.98 0.72 0.65
MDDSC007 82.5 82.81 0.31 0.4
MDDSC007 83.95 84.87 0.92 0.3
MDDSC007 84.87 85.02 0.15 0.51
MDDSC007 85.02 86 0.98 0.64
MDDSC007 86.72 87.72 1 0.52
MDDSC007 87.72 88.72 1 0.89
MDDSC007 88.72 89.47 0.75 0.59
MDDSC007 89.47 89.7 0.23 0.32
MDDSC007 89.7 90.09 0.39 0.52
MDDSC007 90.09 90.25 0.16 0.79
MDDSC007 90.25 91.04 0.79 0.36
MDDSC007 95.94 96.37 0.43 0.6
MDDSC007 96.37 96.69 0.32 0.5
MDDSC008 5.25 6 0.75 0.45
MDDSC008 13 14 1 0.94
MDDSC008 15 16 1 0.42
MDDSC008 22.1 22.75 0.65 0.35
MDDSC008 25.7 26.6 0.9 1.4
MDDSC008 27.53 28.4 0.87 0.33
MDDSC008 31.19 31.8 0.61 0.34
MDDSC008 31.8 32.7 0.9 1.93
MDDSC008 32.7 33.64 0.94 0.52
MDDSC008 35.28 36.28 1 0.36
MDDSC008 67.19 67.35 0.16 0.3
MDDSC008 67.69 67.89 0.2 20.1
MDDSC008 67.89 68.4 0.51 22
MDDSC008 68.4 69.75 1.35 0.36
MDDSC008 95 95.15 0.15 8
MDDSC009 23.8 24.42 0.62 0.51
MDDSC009 24.42 25 0.58 0.44
MDDSC009 25 25.77 0.77 0.39
MDDSC009 25.77 26 0.23 0.89
MDDSC009 26 26.2 0.2 0.66
MDDSC009 29 29.41 0.41 0.56
MDDSC009 29.41 30.17 0.76 0.68
MDDSC009 30.17 30.31 0.14 0.3
MDDSC009 30.52 30.73 0.21 0.85
MDDSC009 51 52 1 0.63
MDDSC009 52 53 1 0.54
MDDSC009 67 67.6 0.6 3.58
MDDSC009 67.6 68.7 1.1 1.77
MDDSC009 84.5 85.5 1 0.9
MDDSC010 31.19 31.3 0.11 0.45
MDDSC010 39.45 40.3 0.85 0.91
MDDSC010 40.3 40.5 0.2 0.73
MDDSC010 40.5 40.9 0.4 1.6
MDDSC010 40.9 41.5 0.6 19.2
MDDSC010 42.1 42.5 0.4 0.41
MDDSC010 47.03 47.18 0.15 0.89
MDDSC010 47.18 47.9 0.72 0.5
MDDSC010 47.9 48.9 1 1.51
MDDSC010 48.9 49.22 0.32 0.43
MDDSC010 50.15 50.39 0.24 0.35
MDDSC010 59.38 59.88 0.5 0.64
MDDSC010 70.37 70.58 0.21 0.67
MDDSC010 72.37 73.2 0.83 1.22
MDDSC010 73.2 73.62 0.42 0.6
MDDSC010 73.62 73.88 0.26 2.08
MDDSC010 73.88 74.22 0.34 27.1
MDDSC010 74.22 74.8 0.58 1.38
MDDSC010 74.8 75.23 0.43 36.4
MDDSC010 75.23 75.85 0.62 17.4
MDDSC010 75.85 76.65 0.8 1.14
MDDSC010 76.65 77.65 1 0.65
MDDSC010 77.65 78.34 0.69 1.15
MDDSC010 78.34 79.34 1 1.28
MDDSC010 82.32 82.6 0.28 2.23
MDDSC010 82.6 83.6 1 0.65
MDDSC010 83.6 84.6 1 0.81
MDDSC010 91.88 92.85 0.97 0.31
MDDSC010 92.85 93.85 1 0.62
MDDSC010 93.85 94.85 1 1.23
MDDSC010 94.85 95.34 0.49 0.87
MDDSC010 96.8 97.54 0.74 0.39
MDDSC010 97.85 98.16 0.31 0.36
MDDSC010 98.16 98.5 0.34 0.68
MDDSC010 98.5 98.86 0.36 1.54
MDDSC010 98.86 99.84 0.98 2.06
MDDSC010 99.84 100.11 0.27 2.47
MDDSC010 100.11 100.48 0.37 8.5
MDDSC010 100.48 100.95 0.47 5.36
MDDSC010 100.95 101.28 0.33 72.9
MDDSC010 120 120.18 0.18 1.24
MDDSC010 120.18 120.83 0.65 1.02
MDDSC010 120.83 121.39 0.56 0.78

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Datum: 11.02.2021 - 07:26 Uhr
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