Mawson Resources Ltd (TSX:MAW) has underscored the prospectivity of its Rajapalot gold project in Finland with a geological review of nine prospect areas.
A total of 160 boulders and outcrops (within the nine areas) with more than 0.1 g/t gold have been discovered within a 4km by 3km area at Rajapalot.
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The gold grades range from 0.1 g/t gold to 3,870 g/t gold, with an average of 74.9 g/t gold and median of 0.71 g/t gold, the firm said.
The sources of six of the nine gold bearing fields has not yet been discovered, while the sources of three have been found by drilling over the last 18 months - at Palokas, Raja and South Palokas.
Highlight intercepts included 10 metres at 11.6 g/t (grams per ton) gold from 110.2 metres, and 8.4 metres at 4.2 g/t gold from 206.0 metres.
"With more than 99% of the gold prospective area at Rajapalot covered with a thin layer of glacial soil, tracing the source of boulders remains a key to further discoveries, said Mr Hudson, the chairman and chief executive of Mawson.
"The frequency of boulder discovery at Rajapalot over at least 12 sq km is impressive. Our field teams are regularly making new finds, including the exciting Palokas-style mineralized boulders at Hirvimaa, that present immediate drill targets.
"The bedrock source of only three of nine boulder fields are known to date, with all nine still providing excellent discovery opportunities."
Hudson added: "Further discoveries at Rajapalot will come through rigorous exploration practices and a commitment to drilling.
"Given the high success rate of drilling during the last winter program where 28% of drill holes (39 out of a total of 137) recorded greater than 5 g/t-m intersections, we are looking forward to our upcoming programs."
Winter drilling in 2017 and 2018 will focus on delineating additional gold mineralization in prospects already identified by drilling, and follow-up of boulder fields where the primary source of mineralization remains to be discovered, the company added.
Mawson shares in Toronto eased over 3% to C$0.32.