Mawson Resources Limited (TSE:MAW) (OTCMKTS:MWSNF) hit further high-grade gold and cobalt mineralization at its Rajapalot project, the company announced Tuesday.
Drilling results from the Raja prospect continued to extend mineralization beyond the current resource boundaries, with further continuous and thick high-grade gold-cobalt showings, according to Mawson.
A key highlight from the current round of drilling included one hole, PAL0191, that extended the core zone by 70 metres to a total length of 320 metres. The total length of mineralization at Raja is 600 metres down plunge.
READ: Mawson Resources hails latest Finnish drill results, underlines potential to increase resources at Palokas prospect
PAL0191 intersected 21 metres at 4 grams per ton (g/t) gold equivalent, 3.2 g/t gold and 481 parts per million cobalt from 417 metres, including 9 metres at 7.2 g/t gold equivalent, 6.2 g/t gold and 647 ppm cobalt from 421 metres.
The drill hole is the deepest high-grade drill hole reported from Raja to date, the company said in a statement.
"Raja continues to expand with further thick high-grade gold-cobalt intersections that show impressive continuity for 320 metres down plunge with the trend remaining open," said Mawson CEO Michael Hudson.
"Our ability to consistently hit high-grade mineralization at Raja provides compelling evidence for the strength of the Rajapalot mineral system, and augers well for further discoveries within Raja and the other projects that we have defined within the larger project area."
The new drill result follows a series of positive holes from the Rajapalot project in Finland, including the PAL0190 hole that reported 19.7 metres at 8.9 g/t gold equivalent, 7.4 g/t gold and 908 ppm cobalt from 371 metres that was reported in May.
Mawson has completed over 15,000 metres of drilling over 44 holes during the winter 2019 drill deason. The company expects to release assay results from seven remaining holes from other prospects in the coming weeks.
Shares in Mawson added nearly 6% to stand at C$0.18 in Toronto
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