Part of the Stock Digest group of websites: Visit Tech Stock Digest  

Mawson Resources (TSX: MAW) CEO Michael Hudson on Latest Discovery of High-Grade Gold in Outcrop that Solidifies the East Rompas Story

January 9, 2018

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is Chairman and CEO of Mawson Resources (TSX: MAW)(OTC: MWSNF), Mr. Michael Hudson. How are you, Mike?

Michael Hudson: As always, top of the world, Gerardo.

Gerardo Del Real: Well, with gold at $1,317 the last that I looked and the news release this morning, you have to be pretty excited. Let me read the headline and then I'm going to let you fill in the details. The headline for today's news release reads, "Mawson Completes Infill Sampling at East Rompas with Multiple New High-Grade Outcrop Samples Delivering Up to 283 Grams per Tonne Gold." Can you please provide the details? That's pretty impressive. In a market where a lot of people say that all of the easy discoveries have been made and you can't walk anywhere nowadays and just find gold outcropping. This is impressive and this isn't a one off because you've had samples up to 2,375 grams per tonne gold in prior news releases on October 11th and October the 23rd. Can you provide the details of this particular set of results and where you're finding this?

Michael Hudson: We went back to the project, well it was a continuous run, basically a mapping, sampling, prospecting, and channel sampling importantly here in this press release for the first time. What these new results have done, they've extended the zone, given us much more understanding, infilled the zone in terms of giving 78 new samples within the trend. So we've found a lot more gold within the trend. And then given us some more representative samples in terms of channeling and getting some thin but high-grade widths. It's very much confirmation and some extension. We've found two different zones now, so it's not one trend, it's two parallel zones that we've defined. It's a different style of mineralization than we've seen before. We've got a lot of multi-element, so assays back from other than gold and we've seen association now with tellurium and low sulfide. It's a work in progress but certainly very much solidifies the East Rompas story.

Gerardo Del Real: Excellent. Now you mentioned those semi-parallel mineralized zones, that now exceeds 700 meters. Is that correct, the strike length?

Michael Hudson: Exactly. Exactly. And the key point here is that there's only a couple of percent outcrop. As we've talked about before, Gerardo, in that part of Finland the glaciers came across the whole land up to three kilometers thick. When they melted they left a few meters of rubble and that's called glacial till and the glacial till covers 99% of the area. So we're seeing little windows of outcrop. These are all outcrop, not boulders or float, they're in-situ. As you've said, it's very rare to walk across gold at surface in any timeframe, but certainly today that easier discoveries we've thought have been made. But this is 500 meters from where we've drilled Finland's best ever drill hole. A drill hole with 6 meters at 617 grams that we drilled a number of years ago but it still remains Finland's best drill hole. Even fairly close to Finland's best drill hole, we hadn't made these discoveries and we've had thousands and tens of thousands of man hours walking across this ground. It's all very exciting.

Gerardo Del Real: Now, diamond drilling is ongoing. Is that correct?

Michael Hudson: We have a rig drilling underneath these gold outcrops as we speak and along that entire 700 plus meter trend. The trend is actually around 1.2 kilometers but the high-grade gold is within the 700 meter core that we've defined to date. And we should see more drill rigs coming to site, the one rig at East Rompas and then we're planning to bring more rigs into the entire land package over the coming weeks towards the end of January. And the first drill results — I know you're going to ask me, Gerardo, so I'll beat you to it — should start to flow in the third to fourth week of January.

Gerardo Del Real: Excellent. Now you mentioned some of the other minerals that you're having these results assayed for other minerals. Why is that important? How do those other minerals associate with the gold? And what is that telling you, Mike? If you could explain that to me as if I were a fifth grader or a non-geologist. Why is that important, because it's highlighted in the release?

Michael Hudson: I'm going to put it in the terms of cryptocurrency, I think is probably the best way to speak about it.

Gerardo Del Real: Please don't cross over to the dark side, Mike.

Michael Hudson: No, not at all. You know I'm a bit of a buff and intrigued by the crypto space but my heart and soul is in gold exploration and gold is the ultimate cryptocurrency. In terms of hash power, if you like, or trying to work out the riddles that are mathematically built into crypto, there's riddles built into the gold's mineralization and looking at how the gold got there. So we have so many riddles that we've got to try and sort out. We have a lot of associations, very key for us, right? Because if we have sulphide in the rock, we can see it geophysically most of the time but not all the time. We have a mineral called pyrrhotite that is an iron sulphide, it's associated with the gold at Rajapalot and we saw it here in outcrop but we've also now starting to see the lack of pyrrhotite.

Pyrrhotite is important because you can see it with magnetics most of the time. So you do some ground magnetics and if you get a bump in the ground magnetics, you think you've got pyrrhotite at least some of the time because there's lots of other magnetic minerals. So there's all those variabilities and just seeing a low sulphide mix means we can't just rely on geophysics alone but we can't ignore it. The hashing power and iterations required for this crypto nature universe is challenging and intriguing but we're peeling back bit by bit as we collect more information.

Gerardo Del Real: Excellent. Well, I'm really curious to see the first set of assays when those come in. You mentioned those would likely be out hopefully this month, you said, correct?

Michael Hudson: Exactly.

Gerardo Del Real: Wonderful. Well, Mike, I want to thank you for your time. Is there anything else that you'd like to add?

Michael Hudson: I think we hit the key points. Just more solidity, a lot more sampling now. We've finished the sampling. We've finished the geophysics, drill rigs turning and that's the ultimate truth machine. And the challenge here is to find continuity at the lower grades actually between all these higher grades and that's what we're focusing on.

Gerardo Del Real: Mawson checks a lot of boxes right now. It's a district-scale land package. There is high grade at surface and of course, the drill, the truth machine, the drills are turning as we speak. I encourage everyone who's not familiar with Mawson Resources to go to its website, which because it truly is, I think, one of the more exciting drill programs and hopefully in a few weeks I can have you back, Mike, and you can validate some of what I'm saying today.

Michael Hudson: Let's trust that's the case, Gerardo. I look very much forward to it.

Gerardo Del Real: Wonderful. Thank you very much for your time, Mike.

Michael Hudson: Thank you.

View Interview Archive

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.



Name Last Change
DOW 25120.60 0.31%
S&P 500 2753.17 0.75%
NASDAQ 7841.36 0.17%
TSX 16477.40 0.25%
TSX-V 717.58 0.00%

Resource Commodities

Name Last Change
Gold 1215.60 0.96%
Silver 15.27 1.83%
Copper 2.75 0.010
Platinum 800.12 1.92%
Oil 68.76 0.99%
Natural Gas 2.72 0.70%
Uranium 23.65 0.08%
Zinc 1.17 0.00%


Part of the Stock Digest family of websites
Small Cap Stock Digest