Mawson Resources Limited (TSE:MAW) (OTCMKTS:MWSNF) is increasing its cache of high-grade gold results from its Rajapalot project in Finland.
On Tuesday the Vancouver-based company announced new drill results from five holes, including one drill section that intersected 19.7 metres at 8.9 grams per ton (g/t) gold equivalent and 908 parts per million (ppm) cobalt. The result confirmed a 250 metre stretch of high-grade gold-cobalt mineralization that remains open at depth.
The drill hole, PAL0190, is the deepest high-grade drill hole reported from the project to date, Mawson said in a statement, providing confidence in the company’s ability to target high grade mineralization.
"The winter drilling has delivered further strong results from Raja with 19.7 metres at 8.9 g/t gold equivalent intersected by PAL0190 within a high core" said Michael Hudson, Chairman and CEO of Mawson. "Most significant is the predictability and continuity of the cigar-shaped high-grade core that is now 30-50 metres wide and 20-30 metres thick that has now been traced over 250 metres down plunge and remains open at depth. This a significant advancement in understanding of the mineralized system by our geological team, which will deliver benefits in future targeting during on-going exploration programs."
Results from the other four holes included one hole that intersected 5 metres a 3.7 g/t gold equivalent, 2.7 g/t gold and 581 ppm cobalt from 200 metres, and 4.3 metres at 3.8 g/t gold equivalent, 2.3 g/t gold and 931 ppm cobalt from 210 metres.
Another drill hole near PAL0190 intersected 1.4 metres at 2.3 g/t gold equivalent, 0.1 g/t gold, 1,345 ppm cobalt from 400.4 metres.
The new results come as part of a 44-hole winter drill program. Sixteen holes with full assay results are yet to be reported.
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas