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MAWSON RESOURCES LTD

Mawson Resources says survey has doubled scope of potential Raja target in Finland

This conducive body more than doubles the Raja mineralization footprint to more than 1 kilometre

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Cobalt mineralisation

Mawson Resources Ltd (TSE:MAW) posted electromagnetic survey results from its Raja prospect - part of the Rompas-Rajapalot gold-cobalt project in Finland -  which has doubled the size of the potential target associated with the mineralization there.

Surveying completed so far has discovered a strongly conductive body to the north of Raja, that corresponds closely with known mineralized drill intercepts, including one of 8 g/t (grams per ton) gold, 823 ppm (parts per million) cobalt from 243.0 metres, and extends 550 metres down plunge beyond the drilled area, the company said.

READ: Mawson Resources excited about new potential gold frontier as it options Oregon project

This conducive body more than doubles the Raja mineralization footprint to more than 1 kilometre and remains open down plunge, the company said.

"Gold-cobalt mineralized zones at Rajapalot form excellent conductive targets which allows us to geophysically identify potentially mineralized areas at depth and increase the confidence of our drill targeting," said Michael Hudson, the chairman and chief executive at Mawson.

"A key result to date is the doubling of the conductive body associated with Raja mineralization, delivering an untested target with more than 500 metres down-plunge extent from high grade gold intersections.

"Geophysical surveying is ongoing along the 3.5 kilometre Rajapalot mineralized trend, in preparation for an exciting 15,000 metre winter drill campaign, scheduled to start in January 2019 (subject to final permits)."

Earlier this month, the group said it was optioning an exciting gold project, which has sat behind 'locked gates' for the last 150 years in mainland USA.

The WUSA project in Oregon spanning 150,000 hectares is highly prospective for high and low sulphidation epithermal gold systems.

Due to long-term ownership by a single private landholder, it has remained largely unexplored, and the firm has the right to explore the project initially for three years.

It must spend US$500,000 of in-the-ground expenditures and lease payments of US$100,000 in the first year before electing to continue any further.

Mawson also noted that it will still focus on the flagship Rompas-Rajapalot gold-cobalt project in Finland, where it is poised for a winter drilling program.

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