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Mawson Resources shares boosted by successful winter drill results in Finland

Last updated: 16:32 05 Jul 2017 BST, First published: 11:32 05 Jul 2017 BST

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Mawson said it was now planning the next winter program

 

Mawson Resources Ltd (TSX:MAW) said after a successful winter drill program, which confirmed a gold system, planning was now underway for the next program starting later this year or early next.

Shares in the mining group added 8.82% in Toronto at $0.37.

Summarising the findings from the Rajapalot project in northern Finland, the group said 55 diamond drill holes for 11,056 metres and 1,801 base-of-till (BOT) drill holes were completed.

Mike Hudson, chairman and chief executive, said: "The winter drill program confirmed the presence of a large, gold-mineralized hydrothermal system at Rompas-Rajapalot, delivering one of Finland's most significant gold discoveries.

"The high hit rate of gold over regional-scale areas, the discovery of multiple high grade mineralized bodies and an extensive gold-footprint provided by BOT drilling, all in the first year of systematic, yet regional scale drill testing is impressive."

The key takeaways are that drilling confirmed the presence of a large gold-mineralized hydrothermal system within a 4.5 sq km area.

But that tested only 5% of the 27km strike of the interpreted host sequence in the Rajapalot area.

In addition, significantly 28% of the drill holes recorded greater than 5 g/t  (grams per ton)- metre intersections, while 42% drilled in the Rajapalot project hit significant gold, greater than 1g/t- metre.

The total average drill depth on the project remains shallow at 109 metres.

Highlight assays included 10 metres at 11.6 g/t gold from 110.2 metres, and 2.9 metres at 1 g/t gold from 135.7 metres.

There was also 3m at 5.3 g/t gold from 143.9 metres at the Palokas prospect.

Mawson Resources starts drilling with results expected from February

Michael Hudson, CEO Mawson Resources (TSX:MAW) tells Proactiveinvestors at VRIC 2013 that at 3% gold averaging 100gms per ton gold the company is well blessed and places Mawson uniquely as an investment prospect. The drilling of the asset at Rompas is expected to start delivering results from...

on 28/1/13