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Mawson Resources Ltd.
Summary
| Project: | Rajapalot | |
|---|---|---|
| Deposit: | Palokas | |
| Location: | Finland | |
| Commodities: | Gold-Cobalt | |
| Date: | 6/3/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-6-2019: Mawson Resources Ltd. announces an Exploration/Drilling Update report for its Palokas deposit at the Rajapalot project. Drilling results incl. 15.2m @ 4.3g/t Au, 2566ppm Co from 418.7m. Vancouver, Canada — Mawson Resources Limited (“Mawson”) or | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Nick Cook (Internal) | |
| ABSTRACT: | Vancouver, Canada — Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces gold-cobalt drill results from 2 holes at the Palokas prospect from the Company’s 100% owned Rajapalot Project in northern Finland. Fourteen holes with full assays remain to be reported from the 44 drill hole winter program. In one of the most significant advances made at the Rajapalot gold-cobalt project this year, drill hole PAL0194 intersected 15.2 metres @ 8.5 g/t gold equivalent (“AuEq”), 4.3 g/t gold (“Au”) and 2,566 ppm cobalt (“Co”) from 418.7 metres (Figures 1-4) and was drilled 275 metres down-plunge from the high-grade gold-cobalt mineralization previously announced at Palokas. The intersection, in which both visible gold and cobaltite were noted in the core, is located approximately 425 metres down plunge from the surface whereas the nearest previous high-grade drill hole (PAL0030 (10.0 metres @ 10.8 g/t AuEq, 9.9 g/t Au and 562 ppm Co from 110.2 metres) is located about 150 metres down plunge from surface. The results from this hole effectively triple the potential high-grade gold-cobalt mineralization trend at Palokas and it remains open at depth and to the north. This result shows the strong potential to significantly increase the known resources at Palokas. Also noteworthy is the high cobalt content in PAL0194 compared to other holes on the property. The highest-grade interval in PAL0194 assayed 1 metre @ 23.6 g/t Au and 1.5% Co (47.7 g/t AuEq). The Rajapalot project is a significant and strategic gold-cobalt resource for Finland with the maiden resource positioned as one of Finland's current top three gold resources by grade and contained ounces and one of a small group of cobalt resources prepared in accordance with NI 43- 101 policy within Europe. Mr. Michael Hudson, Chairman and CEO states: “The 2019 drill program is now delivering across multiple prospects. This is an extremely strong result, tripling Palokas’ high grade potential with PAL0194 intersecting 15.2 metres @ 8.5 g/t AuEq from a 275 metre step out below high-grade mineralization. The targeting of such broad step-outs is a credit to our technical team, and was developed using careful analysis of the Au-Co grade distribution combined with geophysical conductors, highlighting the importance of the knowledge gained during the last two drill campaigns across the Rajapalot project area. The Palokas high-grade zone remains open up and down-plunge of PAL0194 and to the north of the conductive trend.” | |
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