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Mawson Resources Ltd.
Summary
| Project: | Rajapalot | |
|---|---|---|
| Deposit: | Raja | |
| Location: | Finland | |
| Commodities: | Gold-Cobalt | |
| Date: | 6/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-6-2018: Mawson Resources Ltd. announces an Exploration/Drilling Update report for its Raja deposit at the Rajapalot project. Drilling results incl. 33.6m @ 8.0g/t Au, 823ppm Co from 243.0m. 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) announces results from ten holes drilled at the Company’s 100% owned Rajapalot goldcobalt project in Northern Finland during the winter 2018 program. Eight new holes are reported from three prospect areas while cobalt assays are provided from two holes where gold-only values were previously available. All holes except one intersected gold-cobalt mineralization, with results delivering increased confidence and extensions of the cobalt-gold mineralization at Rajapalot. Thirty-six holes from a total of 75 drilled have now been reported from the winter program. Mr. Hudson, Chairman and CEO, states, "Rajapalot continues to present new and exciting opportunities with every additional result. We continue to be encouraged by the broad uplift in gold-equivalent grades after the addition of cobalt assays, particularly in PAL0093 which assayed 33.6 metres @ 9.7 g/t Au Eq. New targets continue to be generated as evidenced by the near-surface structural zone of mineralization discovered at Raja with PAL0119 intersecting 4.0 metres @ 6.7 g/t Au Eq. Known mineralization was extended at Palokas, 1.8 kilometres from Raja, where the mineralized position was successfully extended down-plunge by 100 metres. Furthermore, our increased geological knowledge of the mineralized system has facilitated regional targeting with 1-2 kilometre step out holes. With thousands of gold and cobalt assays still in the laboratory, we look forward to announcing data as they become available.” Assays from ten holes are reported: PAL0083, 90, 93 (cobalt only), 95, 104 (cobalt only), 107, 119, 124 (gold only), 139 and 143 from the Raja, Palokas and Hirvimaa prospects. All holes, except PAL0124 (gold-only assays to date) hit anomalous gold and/or cobalt mineralization. A plan view of the drill results and named prospects is provided in Figure 1. Cross and longitudinal sectional views and prospect plan views are included in Figures 2–4. Tables 1–3 include all relevant collar and assay information. Assuming a predominant stratabound control, the true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness. Intersections are reported with a lower cut of 0.5 g/t gold or 0.5 g/t gold equivalent when cobalt assays were available, over 1 metre width and no upper cut-off was applied. The gold equivalent (Au Eq) value was calculated using the following formula: Au Eq g/t = Au g/t + (Co_ppm/481) with assumed prices of Co $88,185/t; and Au $1,320/oz, where 1 g/t Au is equivalent to 0.048 % Co. | |
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