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MAWSON RESOURCES LTD

Mawson Resources eyeing new drilling next month at Rajapalot

In the last six weeks, contractors have completed a 103 line km ground magnetic survey in the northern part of the Hirvimaa permit

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Mawson is on the hunt for metals in Finland

Mawson Resources Ltd (TSE:MAW) is looking forward to restarting diamond drilling during September at its large  Rajapalot gold-cobalt project in Finland.

In the last six weeks, contractors have completed a 103 line km ground magnetic survey on 25 metre spaced lines in the northern part of the Hirvimaa permit, it told investors.

Further geophysical programs to start during August include downhole electromagnetics studies at the Kairamaat 2/3 permit and are designed to discover new mineralised bodies and extensions to known gold mineralization at Raja, Rumajärvi and Palokas.

Diamond drilling to test geophysical and base-of-till anomalies is earmarked to begin at the Hirvimaa and Männistö exploration permits next month.

Mawson also added that 6,912 from a total 7,078 assays remain unreported from the cobalt re-assay program and further results will be released shortly.

"The sulphide minerals associated with gold-cobalt mineralisation at Rajapalot have a predictable geophysical signature," said Michael Hudson, chairman and chief executive.

"These new geophysical surveys will allow us to derisk, refine and expand drilling targets for testing in the coming months.

"Combined with BOT geochemical drill data we have multiple drill targets defined on the Hirvimaa and Raja permits that are accessible for drilling year-round.

"We look forward to restarting diamond drilling during September as we wrap up the final assays and compilation from our extensive 75 drill hole (16,204 metres) winter diamond drill program."

Mawson shares lost 3.85% to C$0.25 on Monday.

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Price: $0.19

Market: TSX
Market Cap: $27.05 m
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