Mawson Resources Ltd (TSX:MAW) shares shot up as it released more details of its new gold discovery - East Rompas - in Finland ahead of drilling expected to start in early December.
The prospect lies within the group's 100% owned Rompas-Rajapalot project, 500 metres east of the 6km long Rompas high-grade gold vein system.
READ THE BIC PIC - Mawson Resources poised for more drilling as it continues to find gold at Rompas- Rajapalot
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Sixty samples have now been reported, taken from surface outcrops and boulders at East Rompas along a 750 metre trend.
In total, 21 outcrop samples assayed greater than 0.1 g/t (grams per ton) gold, and highlight assays from outcrop and mini-drill sampling include 2,375 g/t gold, 1,284 g/t gold; 642 g/t gold and 216 g/t gold.
"East Rompas is an exciting new discovery by the Mawson team, with the mineralized footprint now expanded to two semi-parallel zones over 750 metres of strike," said Michael Hudson, the chairman and chief executive.
"Finding visible, high-grade gold at surface, in outcrop is rare, and the significance of discovering multiple outcrops with grades up to 2,375 g/t gold cannot be under-estimated.
"We are highly encouraged by the presence of gold in structural fabrics and the association with silicate and sulphidic alteration, that may indicate potential for disseminated gold mineralization.
"Geophysical crews are working at site and with the area fully permitted we plan to be drilling in early December."
The area is fully permitted for diamond drilling and is located outside Natura 2000 areas, within the recently permitted Mannisto exploration permit.
Geological mapping of the East Rompas prospect continues, accompanied by additional ground magnetics at 25 metre spacing and VLF-R at 50 metre spacing.
Shares surged over 30% in Toronto at C$0.42.