Mawson Resources Limited (TSX:MAW) (FRANKFURT:MXR) (PINKSHEETS:MWSNF) provides an update on drill progress at the Rajapalot gold prospect in Northern Finland.
-- Over the last month, Mawson has completed 120 shallow diamond drill
holes for 871.4 metres to test coincident geochemical and geophysical
anomalies that lie immediately along strike from the Palokas gold
prospect at Rajapalot, Finland. Geochemical assays are awaited (Figure
-- The Company plans to mobilize an additional in-house diamond rig to the
same area shortly (Photo 1). This rig will test specific areas of
interest defined by the recently completed shallow diamond drilling
Mr. Hudson, President & CEO, states, “Although drill assays are awaited, our Finnish technical staff recommend deeper drilling to follow-up on target areas defined by our recent shallow drill program. The aim of this new program is to further map and prospect areas of interest 600-800 metres along strike from the Palokas prospect, where recent core sample results included 19.5 metres @ 7.4 g/t gold from 1.3 metres.
In total, 120 drill holes were completed by independent drilling contractor Ludvika BorrTeknik AB, within an area of 2.5 kilometres by 0.5 kilometres. The average depth of each drill hole was 7.3 metres and the average thickness of glacial soil overburden was 3.9 metres. Geochemical assays are pending and will be released when available.
The aim of the new program is to drill deeper diamond holes around anomalous bedrock defined during the recent shallow diamond drill program, and gold-bearing glacial boulders of the same mineralization style as the Palokas prospect. The drill area is 600-800 metres along strike from the Palokas prospect. The rig is expected to be at site over the next 3 months, with 60-80 metres of drilling expected to be completed each week with drill holes ranging from 10-40 metres depth.
About Mawson Resources Limited
Mawson Resources Limited is an exploration and development company. Mawson has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas gold project in Finland.
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