Mawson Resources (TSE:MAW) says it's aiming to calculate a maiden mineral resource for the Palokas discovery at the Rompas project in Finland in the second quarter of 2016 after it unveiled the latest high grade results from the project.
The gold mineralisation at the property remains open in all directions, while tests on the core have demonstrated excellent extraction of between 95% and 99% (average 97%), the company said.
The first hole of the current programme returned 19 metres at 5.3 grams per tonne(g/t) from 38.7 metres, while the immediate up dip results have included 19.6 metres at 7.5 g/t gold from 18.1 metres.
Drilling is continuing at the site with the anticipated programme until the end of October to consist of up to 12 holes.
Michael Hudson, the group's president and chief executive, said: "This is another great outcome for our investors and the fourth +100 grade thickness (g/t x m) gold intersection recorded at Palokas within a continuous zone from surface to 50 metres depth, confirming the significance of this discovery.
"Given the encouragement received to date from wide, consistent and high gold grades, we will plan to increase our Winkie-rig capacity at Palokas to 3 to 4 rigs this winter, with the aim to be in a position to calculate the first mineral resource at Palokas in Q2 2016.
"We look forward to releasing further drill results as they become available."