Mawson Resources (TSX: MAW) CEO Michael Hudson: Winter Drill Program at Rajapalot has Exceeded Expectations with More Assay Results Still to Come
Michael Hudson: Gerardo, an absolute pleasure.
Gerardo Del Real: Well, I wanted to get back in touch to get an update on drilling in Finland. You have a large high-grade district scale land package out there. You just commenced a ground magnetic survey, and you're also still in the midst of a drill program, so I wanted to get an update for shareholders and potential shareholders. What's going on out there, Mike?
Michael Hudson: We're still very busy, Gerardo. The winter, our conditions, we can work both summer and winter on our property, but it's certainly a lot easier during winter and certain areas we’re only permitted to drill in winter, so we've given it a great hit. I think I used the words the other day to somebody that we’ve got a cacophony of drill core in our shed and in the lab trying to process it all. We've drilled now 53 holes. We've had up to five rigs, four diamond rigs and a base of till rig. The base of till rig's finished. It drilled something like 1700 short holes and then the four diamond rigs have been reduced to two. We've kept the lighter rigs there as the ice and snow conditions are thinning and the lighter rigs have a bit more capacity at the end of the season.
53 holes drilled. We've only reported 19, so there's 34 more holes in the system. We're still drilling of course, so we'll have something upwards of about another 37 more holes to report. That was really not the main news that was in our news release, but the key part of the latest news was that we're extending the system. The drill holes that we drilled south, east and west in our last press release were all on the margins of where we gathered earlier data. That being surface geochemical data, but more importantly geophysical data. And geophysical data comes in many different forms. It's important to know that our rocks associated with gold are slightly magnetic. But not all the magnetic rocks are gold bearing. So it's a great tool to target under the thin veneer of glacial soil that covers, or glacial till, if we use the proper term, that covers 99% of our property. It's basically giving us a bit of an indication where we should be drilling.
Now we've extended that area greatly, because we're on the limits of that coverage of that ground magnetic area, so we have put in 105 kilometers line kilometers of ground magnetics. We've rushed a crew in, to get it in before the end of winter, because it's much easier to rush over snow than it is to trudge through tundra. The guys literally go up and down between 10 meter to 50 meter spacing on lines depending on the areas that we've chosen. Up and down, up and down through the field, collecting this new information.
Gerardo Del Real: Wow. I imagine that this will be helping in delineating further drill targets. Is that correct, Mike?
Michael Hudson: Simply put, that's what it is for.
Gerardo Del Real: Perfect, perfect. Well, hopefully we can have you back on soon. I know that you have a lot of assays that are pending. You mentioned you still have two rigs on site? Is that correct?
Michael Hudson: Two rigs coming down to one, just very shortly, and then I'd say that one rig will only last the next week or so. There's some warmer conditions and more importantly the rain kills us a little bit in terms of the snow coverage. We've actually been very fortunate this winter, there's been a bit of an extension. We would never have thought we'd ever get to late April drilling, so it's been fantastic. We've exceeded our expectations in terms of drilling meters. We said we'd drill 10,000. We passed that, so we get an A mark for execution and now we'll wait for assays.
Gerardo Del Real: Fantastic. Well, Mike, I want to thank you for your time. Is there anything else that you'd like to add?
Michael Hudson: It's all good, Gerardo. Keep an eye on the news flow. Look forward to catching up next time.
Gerardo Del Real: I look forward to having you back on when we get those assays. Thank you.
Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.
@RSDigest ON TWITTER
Small Cap Stock Digest