Finnish Gold-Cobalt Project Surpasses 1 Million Ounce Target


Mawson Gold (TSX: MAW)(OTC: MWSNF) — currently trading around C$0.22 per share — has now surpassed its target of one million gold-equivalent ounces for its flagship, 100%-owned Rajapalot Gold-Cobalt Project, Finland.

The newly-announced Inferred Mineral Resource estimate saw an increase in gold ounces of 47%, a gold grade increase of 19%, and was calculated using a long-term gold price of $1,590 per ounce.

Of course, gold is currently trading above $1,800 an ounce and looks poised to move even higher as we make our way out of the predictable summer doldrums.

Mawson CEO, Michael Hudson — whom you’re about to hear more from — commented via press release:

"Following a significant drilling effort, we are delighted to hit a milestone of 1.04 Moz AuEq, while delivering a year-on-year gold grade increase of 19% with contained gold up 47% from our last resource upgrade in 2020. Rarely does substantial resource growth come together with grade increases, and the robustness of Rajapalot at different cut-offs and constraining models is impressive. This year we doubled the number of prospects within the resource area, and our annual winter campaigns have been adding 300-400 koz AuEq resource growth in a predominant 10-week drilling window. We have developed a strong geological and exploration model to target high-grades, and excitingly it remains early days at Rajapalot with 80% of the target untested, which is just 5% of Mawson's larger 100 square kilometre Finnish project - all from a project that is one of the few in Finland that enjoys majority local support."

Next steps at Rajapalot will include additional exploration, drilling, and permitting — starting with the summer-permitted areas — with the aim of increasing the known gold-cobalt resource.

Drilling is also continuing at the company’s 100%-owned Sunday Creek and Redcastle gold projects in the Victorian Goldfields, Australia. 

Based on a string of recent exploration-drilling successes at both Sunday Creek and Redcastle, the Mawson team is progressing toward a possible splitting of its Australian and Finnish assets. 

Our own Gerardo Del Real of Junior Resource Monthly sat down with Mawson CEO, Michael Hudson, to go over the new resource milestone at Rajapalot as well as the current drilling and thought process for the company’s Australian gold projects. CLICK HERE TO LISTEN (Transcript is also available.)


Also click here for our feature report on Mawson Gold. 

Yours in profits,


Mike Fagan

Mike Fagan
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 readers.

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