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Mawson Resources secures funding and joins research consortium to advance Finnish project

The Rompas-Rajapalot project’s maiden resource positions it as one of Finland’s top three gold resources by grade and contained ounces, according to the company

cobalt elements
The Rompas-Rajapalot gold-cobalt project is a strategic resource, Mawson says

Mawson Resources Limited (TSE:MAW) (OTCMKTS:MWSNF) announced Tuesday that it has been selected to take part in the Finland-based Battery Metals research and development consortium.

Participation, according to Mawson, is evidence that the company’s Rompas-Rajapalot gold-cobalt project is a strategic resource in the Nordics.

As part of its role in the consortium, also known as BATCircle, Mawson will receive €250,000 (C$378,000) to conduct advanced exploration and metallurgical studies at Rompas-Rajapalot. The funding is on a 50/50 basis, meaning Mawson will contribute another €250,000 to bring the total amount to €500,000 (C$756,000).

READ: Mawson Resources makes 'solid' start to winter drill program in Finland

The Rompas-Rajapalot project’s maiden resource of 424,000 ounces of gold equivalent at 3.1 grams per ton of gold equivalent makes it one of Finland’s top three gold resources by grade and contained ounces, according to Mawson.

"Mawson's Rajapalot project is a strategic gold-cobalt project for Finland, and we are honored to participate in the BATCircle consortium,” Mawson’s CEO Michael Hudson said in a statement. “Equally, we are encouraged by the vision of Business Finland to stimulate the dominant and growing role Finland plays in a modern and sustainable supply chain for battery metals.”

Shares of Mawson were down less than a cent Tuesday at C$0.22 in Toronto and eased to US$0.16 on the OTC Markets.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas


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Price: 0.48 CAD

Market: TSX
Market Cap: $121.74 m

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Full interview: Mawson Resources sees impressive results from their winter...

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on 20/4/20

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