Shares in Mawson Resources (TSE:MAW) surged as the company announced the latest drill results from its Palokas gold discovery in Northern Finland.
Highlights from the drilling program included 9.2 metres at 3.2 grams per tonne (g/t) gold intersected from 82 metres in drill hole PRAJ0110, and 5.8 metres at 6.2 g/t gold intersected from 39.1 metres in drill hole PRAJ0111, including one metre at 19.8 g/t gold from 42.1 metres.
The mineralization remains open in all directions, while the grades and thickness are consistent with up-dip drilling results, Mawson said.
The drilling campaign continues, with the group looking to excavate 600 metres from 12 holes by the end of October.
"Latest drilling provides another set of solid results," said Michael Hudson, chief executive and president of Mawson.
"Mineralization has now been discovered for greater than 100 metres down dip, and continues to show consistency of grade and thickness. Drilling continues and we look forward to releasing further drill results as they become available," he added.
Shares were up 25% ahead of the close of trading in Toronto, at C$0.225.