Drills Unlock Thickest Mineralized Zone To-Date at Flagship Gold-Cobalt Project in Finland
by Mike Fagan
Mawson Gold (TSX: MAW)(OTC: MWSNF) — currently trading at approximately C$0.25 per share — has released 15 of 76 diamond drill holes from its flagship, 100%-owned Rajapalot Gold-Cobalt Project, Finland, confirming two new discovery areas.
The first is a near-surface, high-grade discovery located approximately 1,500 meters from the closest known resource area at the recently discovered Joki East target.
18.1 grams per tonne (g/t) gold and 1,696 ppm cobalt — or 19.6 g/t gold equivalent (AuEq) — over 1.5 meters.
The second is a brand new discovery at The Hut prospect [approx. 500 meters from the closest known resource area], which has returned the thickest mineralized zone drilled to-date at Rajapalot at just over 70 meters.
0.9 g/t Au and 828 ppm cobalt — or 1.6 g/t AuEq — over 70.3 meters.
Mawson CEO, Michael Hudson, whom you’ll be hearing more from in a moment, commented via press release:
Through a combination of multi-rig diamond drilling and land use planning processes, the Mawson team has been systematically de-risking the Rajapalot project — which is already considered a strategic gold-cobalt resource for the country of Finland — from the exploration stage to a potential mine project.
An EIA (Environmental Impact Assessment) is currently underway to generate information on the environmental impacts of the project — which, to-date, has received strong local and government support — including providing the public and other stakeholders an opportunity to participate in the overall planning process.
As noted, drilling continues to be on-point with the confirmation of two new discovery areas in the first 15 holes released from the recently completed 2020/2021 program. Assays from the remaining 50 holes [~12,600 meters] from five individual prospect areas will be released over the next few months with a resource upgrade scheduled for completion in July.
For speculators, that means lots and lots of news flow from Mawson over the coming weeks and months. And not just from Finland but also from the company’s two gold exploration projects in Victorian Goldfields, Australia — Sunday Creek and Redcastle.
Despite a couple of recent weather delays, drilling is ongoing with assays forthcoming from both projects. The most recent highlight intercept from Sunday Creek came in at 6 g/t gold over 7 meters, including 9.7 g/t gold over 3.4 meters... so lots of potential there as the company targets Fosterville-style gold mineralization down under.
Our own Gerardo Del Real of Junior Resource Monthly sat down with CEO, Michael Hudson, for a quick recap on all-things Mawson Gold. Enjoy!
Our most recent report on Mawson Gold can be accessed here.
Yours in profits,
Editor, Resource Stock Digest
Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.