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Mawson Resources Ltd.
Summary
| Project: | Rajapalot | |
|---|---|---|
| Deposit: | Raja | |
| Location: | Finland | |
| Commodities: | Gold-Cobalt | |
| Date: | 8/21/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-8-2019: Mawson Resources Ltd. announces an Exploration/Drilling Update report for its Raja deposit at the Rajapalot project. Drilling results incl. 5.1m @ 0.1g/t Au, 1828ppm Co from 434.5m. Vancouver, Canada — Mawson Resources Limited (“Mawson”) or (th | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Nick Cook (Internal) | |
| ABSTRACT: | Vancouver, Canada — Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) summarizes results from the 15,059 metre drill program completed at the Company’s 100% owned Rajapalot Project in northern Finland during the first half of 2019. "Clear evidence for potential to expand the published resource at Rajapalot was confirmed during the past winter’s drill campaign” said Mr. Michael Hudson, Chairman and CEO. “The project has recently pivoted to a resource expansion focus, with 83% of the 49 kilometres of drilling completed over the last 3 drill seasons. Nevertheless, we remain at an early stage of testing with drill hole depth averaging only just over 100m. We are permitted to drill across the project area over the next 2.5 years with down-plunge electromagnetic conductors providing excellent potential for very substantial resource expansion. Drilling remains sparse at numerous pre-resource prospects where mapped conductors and gold and cobalt mineralization provide unlimited upside of the total resource potential of the Rajapalot field. Our team is excited about the prospects for the next drill program which will begin after financing has been secured.” Mawson completed 44 holes (PAL0159–PAL0201D1) for 15,059 metres (two short holes abandoned, one wedged hole) during the 2019 winter drill season. Results from all holes are provided in Tables 2-4 below. Following the 2019 drill program an exploration target of 0.8-1.0 million ounces between 3-5 g/t AuEq is estimated to exist within the three mineralized bodies of Palokas, South Palokas and Rajapalot. The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to increase the mineral resource and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource. Mawson is now working with a qualified resource professional to determine if a new resource calculation is justified. | |
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