Today's drill results from gold explorer Mawson Resources (TSE:MAW) was another in a long list of encouraging updates on the prospectivity of its giant Rompas -Rajapalot project in Finland.
These are the group's flagship properties in Finnish Lapland, where high-grade gold has been discovered in camp-scale area over 10 sq km.
This year has already begun with gusto in terms of operations and the group kicked off, in January, a 15,000m winter drill program at Rajapalot aimed in part to provide a maiden resource, while a 900-hole base-of-till drill (BOT) program was planned for nearby Rompas.
In early March the firm said it had drilled its “best hole” so far at Rajapalot - it was at the Raja prospect and hit 31.7 meters at 8.4 grams per ton (g/t) of gold (Au) at 244.1m. That included 10.9m at 21.0 g/t gold from 252.2m.
For those of you who like to keep a record of the stats, Mawson has now drilled 59 holes during the winter program for a total of 13,079 meters of diamond drill core.
Today's assays hailed from nine holes, eight of which hit gold mineralization across five prospect areas.
These are Raja, Ruari, Palokas, Terry's Hammer and the Hut prospect.
"Mawson's dual aims for this winter's drill program were to systematically grid drill and extend known gold prospects, while also testing a dozen new semi-regional structural-stratigraphic targets," said the company
Although still less than a quarter of drill core from the winter program has been assayed, the first part of this strategy is clearly delivering at Raja...,it added.
A major strategic investment..
In February this year, the firm said it was poised for a C$8.1mln strategic investment from mining titan Goldcorp Inc (NYSE:GG).
Mawson arranged a private placing in which Goldcorp will subscribe for 18mln units at a price of 45 cents each.
"We are very pleased to welcome Goldcorp as a strategic shareholder. With the support of both Goldcorp and our existing shareholders we will continue to aggressively explore our district-scale Rajapalot-Rompas gold project which represents one of Finland's most significant gold discoveries, the company said.
What is the history?
Rajapalot is a grassroots discovery made by Mawson in mid 2012. Before that it was unknown and had never been sampled.
The thinking is that this could be a camp-scale discovery, given that gold and uranium have been found within an area approaching 10 kilometres by 10 kilometres.
Chief executive Michael Hudson started out at Broken Hill, one of the most famous of all Australian mining projects. He then went on to work up exploration projects in Australia, Peru, Argentina, Mexico, Sweden, Finland, Spain and Portugal.