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Mawson Resources Ltd.
Summary
| Project: | Rajapalot | |
|---|---|---|
| Deposit: | Rajapalot | |
| Location: | Finland | |
| Commodities: | Gold-Cobalt | |
| Date: | 12/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-12-2018: Mawson Resources Ltd. announces a Resource Estimation report for its Rajapalot deposit at the Rajapalot project. Initial mineral resource estimate at the project. Mr. Hudson, Chairman and CEO, states, “The Rajapalot gold-cobalt Inferred Minera | |
| Resources: | (Resource, Inf.): 4.3Mt @ 2.3g/t Au, 430ppm Co | |
| CP/QP: | [Resources]: Rod Webster (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | Mr. Hudson, Chairman and CEO, states, “The Rajapalot gold-cobalt Inferred Mineral Resource estimate is a great start and an important milestone for both Mawson and Finland. The resource calculation demonstrates the robustness and highgrade of gold-cobalt mineralization, and highlights the potential for substantial resource expansion with recently surveyed electromagnetic conductors, that closely correspond with the resource area, more than doubling the size of the potential mineralized footprint. These form immediate drill targets for our January 2019 drill plans where five drill rigs plan to test progressive step-out targets from the resource (subject to permitting).” Resource estimations at Rajapalot have been completed for the Raja and Palokas prospects by AMC. The two prospects lie approximately 2.0 kilometres apart within the same geological trend (Figure 1). The calculation represents the first resource estimate for the Rajapalot Gold-Cobalt Project. AMC has reported both a "constrained" and "unconstrained" resource, where the constrained resource has used spatial restrictions of a WhittleTM pit at a gold price of USD $1,250 per ounce and a cobalt price of $30/lb. The gold equivalent (“AuEq”) value was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/608) with assumed prices of Co $30/lb; and Au $1,250/oz. AuEq varies with Au and Co prices. Mr. Hudson, Chairman and CEO, states, “The Rajapalot gold-cobalt Inferred Mineral Resource estimate is a great start and an important milestone for both Mawson and Finland. The resource calculation demonstrates the robustness and highgrade of gold-cobalt mineralization, and highlights the potential for substantial resource expansion with recently surveyed electromagnetic conductors, that closely correspond with the resource area, more than doubling the size of the potential mineralized footprint. These form immediate drill targets for our January 2019 drill plans where five drill rigs plan to test progressive step-out targets from the resource (subject to permitting).” Resource estimations at Rajapalot have been completed for the Raja and Palokas prospects by AMC. The two prospects lie approximately 2.0 kilometres apart within the same geological trend (Figure 1). The calculation represents the first resource estimate for the Rajapalot Gold-Cobalt Project. AMC has reported both a "constrained" and "unconstrained" resource, where the constrained resource has used spatial restrictions of a WhittleTM pit at a gold price of USD $1,250 per ounce and a cobalt price of $30/lb. The gold equivalent (“AuEq”) value was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/608) with assumed prices of Co $30/lb; and Au $1,250/oz. AuEq varies with Au and Co prices. | |
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