Shares in Finnish gold explorer Mawson Resources Ltd (TSX:MAW) nudged higher in Toronto as the group unveiled positive findings from an infill ground magnetic survey at the Rajapalot gold project in Finland.
In all, 90 line kilometres of infill ground magnetic data was collected at 25 metre line spacing.
The firm also told investors today that drilling continues with three diamond drill rigs operating around the clock. Initial drill results will be released during the first week of March.
"With more than 60 people working at site and initial drill results imminent, we are excited to see that detailed ground magnetic data demonstrates both continuity of the host horizons and structural control on gold mineralisation," said Michael Hudson, chairman and chief executive.
"As the gold at Rajapalot is commonly associated with both pyrrhotite and magnetite, ground magnetics is a valuable tool to directly map gold-bearing host rocks under the thin glacial soil that covers 99% of the area.
"We look forward to testing more targets with the many diamond drill rigs currently on site."
The firm said 16 diamond holes from 12 pads have been completed in 2018 and are currently being logged for geotechnical, geological and geophysical parameters.
The rigs are currently at the Raja prospect, which saw drill results in 2017 of 8.8 metres at 7.5 g/t gold from 82.2 metres, South Palokas prospect, where 8.4 metres at 4.2 g/t gold from 206.0 metres was found.
The first batches of samples have now been submitted for assay, and Mawson looks forward to beginning to report assays in the first week of March, it said.
Shares added 1.72% to C$0.59.