Gold-Cobalt Resource in Finland Getting Bigger & Deeper

Mawson Gold (TSX: MAW)(OTC: MWSNF) — currently trading around C$0.25 per share — has released assays from an additional 7 drill holes from its flagship Rajapalot Gold-Cobalt Project, Finland, resulting in a significant extension of mineralization down-plunge at the South Palokas target.

Highlights from hole PAL0303 (the deepest drill hole to-date at South Palokas) include: 
  • 3.9 grams per tonne (g/t) gold and 1,403 ppm cobalt (or 5.1 g/t gold equivalent “AuEq”) over 30.8 meters; including:
                     • 8.2 g/t gold and 2,020 ppm cobalt over 7.0 meters 
That significant intercept successfully extends mineralization at South Palokas by some 280 meters down-plunge and is a follow up to last month’s release, which included:
 
  • Hole PAL0235 [120 meters up-plunge]: 3.0 g/t gold and 998 ppm cobalt (or 3.9 g/t AuEq) over 15.3 meters
The results are part of Mawson’s recently completed 76-hole, 19,400-meter program at Rajapalot (see drill hole assay tables here). 
 
 
 
Mawson CEO, Michael Hudson — whom you’re about to hear more from — commented via press release: 
 
 

"This is a great result. South Palokas has delivered very strongly this season, with high-grade mineralization extended by 280 metres down plunge and remains open. PAL0303 (30.8 metres @ 3.9 g/t Au, 1,403 ppm Co, 5.1 g/t AuEq) is the deepest hole drilled at South Palokas and is demonstrative of the significant resource expansion opportunities that remain at Rajapalot. The mineralized body at South Palokas has now been drilled 650 metres down plunge. Drilling this year has demonstrated significant growth to the four current resource areas and has also added two further resource areas. We look forward to releasing remaining drill hole results and announcing the next resource upgrade in August."

 
 
Through a combination of multi-rig diamond drilling and land use planning processes, the Mawson team has been systematically derisking 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. 
 
 
 
 
The company is proving its ability to hit consistent gold-cobalt mineralization over solid widths at Rajapalot… and there’s still another 30-plus holes from five resource areas yet to be reported on from the recently completed program.

And as noted, those forthcoming assay results will be followed up by a resource upgrade slated for release later this month.

Our own Gerardo Del Real of Junior Resource Monthly sat down with Mawson CEO, Michael Hudson, to get his take on the latest high-grade intercepts from the flagship in Finland along with an update from Australia. CLICK HERE TO LISTEN. Transcript is also available. 
 

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 and Hard Asset Digest readers.

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