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Mawson Resources poised to restart drilling at Rompas prospect after it's granted Mannisto permit

Last updated: 04:43 31 Aug 2017 AEST, First published: 20:24 30 Aug 2017 AEST

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Targets identified will immediately be followed up with diamond drilling

Mawson Resources Ltd (TSX:MAW) is poised to start drilling at the Rompas prospect of its key Rompas- Rajapalot gold project after it was granted another exploration permit.

The Mannisto permit spans 2,123 hectares at the project in northern Finland within the larger 16,162-hectare area of permits and applications.

It includes both the Rompas high-grade nuggety gold mineralization and areas, which are prospective for Rajapalot-style disseminated gold, the firm said.

It brings to an end a four-year hiatus on drilling at Rompas.

Field mapping, prospecting and surveys at Mannisto have been completed over the last two months, which has defined a Rajapalot-style target horizon extending for 2.5 kilometres along strike.

"The Rompas prospect is central to Mawson's ongoing investment in gold exploration in northern Finland, being the site where our team drilled the country's richest-ever gold intersection of six metres at 617 g/t gold in 2012," Michael Hudson, chairman and chief executive, told investors.

"Our recent work at Rajapalot, where an extensive area of gold disseminated mineralization has been discovered, has shown the Rajapalot style of mineralization lies stratigraphically adjacent to the Rompas host rocks, in an area of very limited outcrop and no prior drilling.

"Drilling close to high-grade gold is always exciting for an exploration team, and we look forward to sharing the results of this highly anticipated RC drill program."

Mawson revealed that a reverse circulation (RC) drill rig had now been moved to the site and  20 shallow holes (five to 10 metres) will be drilled through thin glacial soil to bedrock along three lines.

Targets identified will immediately be followed up with diamond drilling.

A significant drilling program will resume at Rajapalot in late 2017/early 2018 when winter conditions allow access, Mawson added.

Shares added 7.94% to C$0.34 in Toronto.

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