Mawson Resources Ltd (TSX:MAW) has unveiled more positive exploration results in Finland, where it says it has doubled the prospective mineralized zone at the south Palokas gold-cobalt prospect.
In December last year, the firm unveiled a maiden inferred gold-cobalt estimate for its Raja and Palokas prospects at Mawson' Rajapalot Project in Finland.
Combined inferred estimate for both prospects was 482,000 ounces of gold equivalent at a grade of 2.4 g/t.
In today’s press release, Vancouver-based Mawson said a recently completed electromagnetic geophysical survey had outlined a strongly conductive body immediately down plunge from the South Palokas gold-cobalt resource.
"Electromagnetic geophysical surveys have defined an undrilled conductive body, extending more than 200 metres down-plunge from high grade gold intersections at South Palokas," said Michael Hudson, chairman and CEO at Mawson.
"Similar success was achieved with TEM at Raja, where a conductive body was discovered for 550 metres below the resource.
"Geophysical surveying is ongoing at Rajapalot, in preparation for an exciting 15,000 metre winter drill campaign focused on resource expansion, scheduled to start in January 2019 (subject to final permits)."
Hudson added: "With the recent publication of a gold-cobalt resource at Rajapalot, the company has never been better positioned to define a project that can contribute positively to the economic well-being of the communities of Lapland, while providing the opportunity for a conflict-free cobalt supply for the Finnish State and European Union."
He said the group was looking forward to an exciting 2019.
Mawson is gearing up to test the South Palokas and Raja conductive bodies, along with other extensions to gold-cobalt resources, earmarked to begin later this month.
A 15,000 metre, five drill rig program is proposed, with contracts in place with three drilling companies.
Around 70 people will be employed on the program once work commences, it added.
Contact Giles at [email protected]