Mawson Gold Limited (TSE:MAW) (OTCPINK:MWSNF) (FRA:MXR) reported promising new drill results from four drill holes as part of the company's 76-hole, 19,422-metre (m) 2020-2021 drill program at its flagship Rajapalot gold-cobalt project in Finnish Lapland, just south of the Arctic circle.
The Vancouver-based company, which has distinguished itself as a leading Nordic Arctic exploration company, drilled 20.7m at 7.4 grams per tonne (g/t) gold from 74m at the Raja prospect in Finland, including 2.2m at 32.6 g/t gold and 3m at 19.4 g/t gold.
In a statement, Mawson Gold Chairman and CEO Michael Hudson said: "To discover such high grades, over broad widths and at such shallow depths is demonstrative of both the untapped potential of this expanding camp scale discovery in Finland, as well as the continued geological understanding being developed by our experienced Finnish project team.”
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“These results more than double the grade and thickness of the shallow parts of the Raja prospect and provide further encouragement as we move towards our soon to be announced resource upgrade for Rajapalot," he added.
Mawson highlighted the following results:
- Drill Hole PAL0297 intersected 20.7m at 7.4 g/t gold, 111 ppm cobalt, 7.5 g/t gold equivalent from 74.0m, including 2.2m at 32.6 g/t gold, 91 ppm cobalt, 32.7 g/t gold equivalent from 75.0m;
- Drill hole PAL0295 intersected 15.7m at 3.8 g/t gold, 783 ppm cobalt, 4.5 g/t gold equivalent from 74.0m, including 6m at 8.5 g/t gold, 344 ppm cobalt, 8.8 g/t gold equivalent from 63.0m; and
- Drill hole PAL0302 intersected 2.0m at 7.1 g/t gold, 96 ppm cobalt, 7.2 g/t gold equivalent from 97.4m;
All holes were drilled on a shallow 90m-wide cross-section at the Raja prospect and were targeted to test an undrilled shallow area. The holes are located 250m up-plunge from PAL0093 that intersected 33.6m at 8 g/t gold and 823 ppm cobalt from 243.0m.
In total, since drilling kicked off in September 2020, Mawson has drilled 76 drill holes for 19,422m.
“A total 43 drill holes for 11,130 metres from five individual prospect areas remain to be reported, with a resource upgrade scheduled during August 2021,” said the company.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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