Flagship Gold-Cobalt Project Attains Major Milestone
by Mike Fagan
Mawson Gold (TSX: MAW)(OTC: MWSNF) — currently trading below C$0.30 per share — has announced the commencement of two key planning processes, EIA and land use planning, for its flagship Rajapalot Gold-Cobalt Project, Finland.
The initiation of the Environmental Impact Assessment (EIA) and land use planning process is a crucial milestone for the company as it effectively pivots the project — which is already considered a strategic gold-cobalt resource for the country of Finland — from the exploration stage to a potential mine project.
The EIA is designed to generate information on the environmental impacts of the Rajapalot project (which, thus far, has received strong local and government support) including providing the public and other stakeholders an opportunity to participate in the overall planning process.
Mawson CEO, Michael Hudson, whom you’ll be hearing more from in a moment, commented via press release:
The Rajapalot Gold-Cobalt Project contains a large discovery area with numerous hydrothermal gold-cobalt prospects within a 3 by 4 kilometer area wherein Mawson has completed over 63,000 meters of drilling to-date.
Most recently, the Mawson team announced a new discovery zone at the Joki East target where the drills intersected high-grade mineralization including 6.9 grams per tonne gold and 732 ppm cobalt (7.4 g/t AuEq) over 5.5 meters.
At present, Mawson has 4 rigs drilling 24/7 at Rajapalot with the aim of significantly expanding the current 716,000 gold-equivalent inferred resource by completing 20,000 meters of infill drilling by mid-April.
While Rajapalot is a gold-dominant resource, it’s important to note that the significant cobalt kicker — which comes in at about 10% to 15% of the in-situ value — has made Rajapalot a strategic resource for Finland with tremendous support for the project both from local municipalities and from the Finnish government.
The start of the EIA and land use planning process is the critical next step in putting the rubber to the road in that respect.
Mawson is also advancing its Sunday Creek and Redcastle gold projects in Victorian Goldfields, Australia — where, despite some weather delays, drilling is continuing with assays forthcoming from both projects.
The most recent highlight intercept from Sunday Creek came in at 6 grams per tonne (g/t) gold over 7 meters, including 9.7 g/t gold over 3.4 meters.
Keep in mind also that Victoria is true elephant country with historic production of some 80 million gold ounces by way of numerous high-grade discoveries including the 8.2 million ounce Fosterville Mine.
Speculators can expect plenty of news flow throughout 2021 from the company’s flagship Rajapalot project and its two Australian projects.
Our own Gerardo Del Real of Junior Resource Monthly sat down with Mawson CEO, Michael Hudson, to discuss all of the latest happenings up in Finland and Down Under in Australia. You can listen in by clicking here.
Be sure to also click here for our most recent report on Mawson Gold.
Yours in profits,
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 and Hard Asset Digest readers.
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