Mawson Resources Limited [MAW-TSX; MWSNF-OTC; MXR-FSE] provided an update on three additional holes (PAL0015/16/17) from the 4,000-metre winter drill program at Palokas in Finland.
Best result of program to date: 8.4 metres grading 4.2 g/t gold from 206.0 metres in PAL0016, including 3.4 metres of 9.5 g/t gold from 211 metres. The true width is interpreted to be approximately 90% of the sampled thickness.
Deepest and best drill result achieved to date outside Palokas: PAL0016 was drilled 350 metres along strike from the main Palokas mineralization and is the deepest and best result drilled outside of Palokas to date. Mineralization is hosted in a sericite-quartz-pyrrhotite rock which represents a different style to Palokas;
Multiple Mineralized Zones: Mineralization in PAL0016 is hosted in a sericite-quartz-pyrrhotite rock interpreted to be 50 metres lower in the stratigraphy than the Palokas mineralization within a broad +100 metre wide sulphidic-tourmaline-talc-amphibole alteration zone.
Context with surface rocks over 2 km south: The style of mineralization in PAL0016 correlates with boulders and subcrops from the Rumajärvi prospect, located 1,300 metres south. Rumajärvi will be drilled over the next month.
Hudson, President and CEO stated, “We are pleased to see higher grades develop 350 metres from Palokas with 8.4 metres of 4.2 g/t gold in PAL0016. More importantly our recent drilling has provided confirmation that Palokas consists of a large, gold-bearing hydrothermal system with multiple alteration styles that affect numerous intervals in a thick stratigraphic package. Drilling continues.”
To date, eight holes have been completed at the Hirvimaa and Palokas prospects for 1,742 metres, with one hole abandoned and one short test hole. The first five holes from the program were reported on February 24, 2016 with PAL0015, PAL0016 and PAL0017 reported here. PAL0015 and PAL0017 intersected wide (70-metre) alteration zones of chalcopyrite-quartz-pyrrhotite rocks that did not contain any significant gold mineralization. PAL0018 and PAL0019 remain in progress. The true thickness of mineralized intervals is interpreted to be approximately 90% of the sampled thickness.
The remainder of the winter drill program will target:
The area located 1,000 to 1,200 metres south of Palokas, to follow up geophysical targets, gold mineralized boulder fields and shallow drilling results which include 0.3 metres of 49.6 g/t gold from 17.7 metres in PRAJ0097 and 3.9 metres of 3.3 g/t gold from 24.1 metres in PRA0076 – refer to Mawson News Release Dec 16, 2014;
A series of drill hole fences through the 400-metre-long by 100-metre-wide Rumajärvi boulder field, located 1,500 metres south of Palokas;
Mawson, in conjunction with all environmental authorities, are ensuring that all parts of the exploration programs are undertaken with minimal environmental impact. Baseline mapping of habitats and vegetation were completed during the summer and autumn. Mapping and identifying the nature values of the area ensures that threatened and endangered species are not negatively affected by exploration activities.