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Mawson Resources Ltd.
Summary
| Project: | Rajapalot | |
|---|---|---|
| Deposit: | Palokas | |
| Location: | Finland | |
| Commodities: | Gold | |
| Date: | 2/21/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-2-2017: Mawson Resources Ltd. announces an Exploration/Drilling Update report for its Palokas deposit at the Rajapalot project. Drilling results incl. 10m @ 11.6g/t Au from 110.20m. Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Fran | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Nick Cook (Internal) | |
| ABSTRACT: | Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces drill results from the first four diamond drill holes from the 2016- 17 winter program at the Company’s 100% owned Rompas-Rajapalot Project in Northern Finland. Mr. Hudson, Chairman and CEO, states, "This is a great start to our winter drilling program, with the early discovery of two high grade results with greater than 100 gold gram x metre intercepts. Drill hole PAL0030 (10.0 metres @ 11.6 g/t gold) was especially encouraging, as the target was a high-grade gold shoot, down plunge from near surface mineralization which resulted in the deepest high grade-width intersection at Rajapalot, to date. Two rigs continue to drill 24/7 over 1,800 metres of strike length. Given the discovery success to date, two additional drill rigs, subject to permitting, will be mobilized to site in the coming weeks.” Two rigs continue to drill at site 24/7, and subject to permitting, two additional rigs will be mobilized to site from early to mid-March. The mineralized system at Palokas is hosted by a greater than 20 metre thick, magnesium- and iron-enriched, pyrrhotitebearing isoclinally folded metasedimentary sequence that is sub-planar at the prospect scale, dipping approximately 45 degrees to the west-northwest. Although the host rocks are isoclinally folded and metamorphosed to amphibolite facies, the mineralization appears controlled by a series of late brittle structures, represented in drill core by quartz and quartzpyrrhotite-tourmaline (+/- molybdenite, gold) veins. Retrograde alteration of the host package to chlorite is one of the dominant characters of the margins of quartz veins. | |
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