logo-loader
viewMAWSON RESOURCES LTD

Mawson Resources shares advance as it awaits first assays from Rajapalot drill program next month

Four drill rigs continue to target EM extensions below and along strike from the maiden resource

Pictured is cobalt mineralisation
Rajapalot gold-cobalt project

Mawson Resources Ltd (TSE:MAW) saw shares advance Thursday as it updated on drilling in Finland and said it expects first assays in early March from the Rajapalot gold-cobalt project.

The drilling is targeting electromagnetic geophysical (EM) plates that are contiguous and extend down plunge from the inferred mineral resource area of 424,000 ounces of gold at 3.1 g/t (grams per ton) gold-equivalent.

READ: Mawson Resources commences ground preparation and diamond drilling at Rajapalot after exploration permit renewal

Fourteen holes for 5,040 metres were completed in the first month and the focus is on the Raja, South Palokas and Palokas prospects, the Vancouver-based company said in a statement.

"Four rigs continue to target EM extensions below and along strike from the maiden resource area," said Michael Hudson, the chairman and CEO at Mawson.

The firm recently gained a new exploration permit which provides a three-year runway for drilling from 200 new drill platforms, which Hudson says is a 'game changer' for Mawson. 

"We have dealt with the Finnish appeal system for each drill program over the long term, and we are very happy to have reached agreement with all environmental authorities on how exploration in the area should be conducted over the next 3 years. In combination with the wonderful support from local communities, we can now continue exploring without further delays," he said.

The 1,462-hectare Kairamaat 2/3 exploration permit allows Mawson to drill from 200 drill platforms (from 529 optional sites) plus 76 existing drill platforms for a further three years.

Shares in Toronto advanced 8.7% to stand at $0.25.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: MAWSON RESOURCES LTD

Price: 0.18 CAD

TSX:MAW
Market: TSX
Market Cap: $34.52 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of MAWSON RESOURCES LTD named herein, including the promotion by the Company of MAWSON RESOURCES LTD in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Mawson Resources releases metallurgical results from project...

Mawson Resources (TSE: MAW) CEO Michael Hudson joined Steve Darling from Proactive Vancouver on Skype to discuss results from the first stage of the metallurgical study at their project in Finland. Hudson telling Proactive the results were positive and he talks about the next steps on the...

on 19/9/19

2 min read