Mawson Resources drills Finland high-grade gold

Winter exploration in Finland. Source: Mawson Resources Limited.

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Mawson Resources Ltd. [MAW-TSX; MWSNF-OTC; MXR-FSE] has released further high-grade results from the recent 14.1-km drill program at the company’s 100%t-owned Rajapalot Project in Finland. These results continue to extend gold and cobalt mineralization beyond previously defined resources.

Highlights:

Drill hole PAL0228 at Palokas, located 120 metres from 2018 inferred resource (greater than 2 g/t lower cut), intersected 19.5 metres at 7.1 g/t gold and 1,006 parts per million cobalt, or 7.8 g/t gold equivalent (AuEq), from 241.8 metres, including 7.0 metres at 17.0 g/t gold and 2,168 ppm cobalt, or 18.4 g/t AuEq, from 251.4 metres. Hole PAL0222 at Palokas (previously reported for gold only), drilled 75 metres north of PAL0228, returned 12.2 metres at 13.2 g/t gold and 1,326 ppm cobalt, or 14.0 g/t AuEq, from 266.9 metres, including 8.2 metres at 19.1 g/t Au and 1,572 ppm cobalt, or 20.1 g/t AuEq, from 266.9 metres.

In the new high-grade zone, drill holes PAL0222 and PAL0228, together with PAL0194 (7.8 metres at 5.1 g/t gold and 4,454 ppm cobalt, or 7.9 g/t AuEq, from 425.1 metres), define a newly interpreted 190-metre-long higher-grade zone on the southwestern edge of Palokas, which remains open down plunge to the north and to the south toward the South Palokas prospect.

Michael Hudson, Chairman and CEO, stated, “More stunning results from Palokas with PAL0228 intersecting 19.5 metres at 7.1 g/t gold and 1,006 ppm cobalt, highlighting the consistency of high-grade gold mineralization. Importantly, the reported holes define a new higher-grade zone that has considerable room for expansion. Core logging and assaying remains on schedule to deliver an updated resource at Rajapalot at the start of Q3 2020.”

Thirteen drill holes remain to be reported. All three prospect areas with inferred resources at Rajapalot remain open, with further drilling required.

The regional upside potential of the Rajapalot project outside Palokas, South Palokas and Raja prospects is considerable. Coincident high chargeability (IP) and recently discovered (2020) electromagnetic conductors, combined with initial drilling of high-grade gold-cobalt mineralization at the Hut and Rumajarvi prospects, provides strong impetus for testing near-surface mineralization during the next drill season.

Mineralization has now been drilled down plunge for 560 metres at Raja, 500 metres at South Palokas and 590 metres at Palokas. Electromagnetic (EM) conductors indicate mineralized sulphidic host rocks at Palokas, South Palokas and Raja and continue to at least 700 to 800 metres down plunge, which is the limit of this surface geophysical technique.

Further results from the Palokas prospect include PAL0218 that intersected 1.0 metre at 4.0 g/t gold and 378 ppm cobalt, or 4.2 g/t AuEq, from 432.4 metres and was drilled 30 metres downdip and to the west of PAL0194. Hole PAL0221, previously reported for gold only intersected 2.6 metres at 6.2 g/t gold and 304 ppm cobalt, or 6.4 g/t AuEq, from 234.3 metres, was drilled 70 metres to the east-northeast of PAL0228. Refer to original company press release for more details.

During the COVID-19 pandemic, Mawson has implemented safety and physical distancing procedures, including working from home where possible and ceased all travel as recommended by the Finnish government.


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