Mawson Announces Drill Results at Raja Prospect

Mawson Resources Limited (TSX: MAW) announced results from five new drill holes at the company’s 100 percent owned Rajapalot gold-cobalt project in Northern Finland. Holes are reported from three prospect areas and all intersected gold mineralization.

Highlights are as follows:

• The best result reported is PAL0092 which intersected 4.0 metres @ 17.7 g/t gold from 246 metres (Figures 1-4) at the Raja prospect. Cobalt assays are awaited;
• PAL0092 was drilled 45 metres west of drill hole PAL0093 which intersected 31.7 metres @ 8.4 g/t gold from 244.1 metres  showing significant encouragement for the continuity of high-grade gold mineralization at Raja;
• PAL0116, drilled up-plunge from PAL0092 and PAL0093, intersected 5.0 metres @ 3.3 g/t gold from 144.0 metres and 2 metres @ 3.6 g/t gold from 154.0 metres. Cobalt assays are awaited;
• PAL00116 was drilled 50 metres east of PAL0085 which intersected 9.9 metres @ 4.1 g/t gold from 124.0 metres;
• Over 470 metres of down plunge continuity of high grade gold-cobalt mineralization has now been demonstrated at the Raja prospect alone, with mineralization remaining unconstrained down-plunge and partly across strike. Gold-cobalt mineralization is associated with sufficient sulphide to form an electrical conductor, and interpretation of VTEM geophysical data indicates potential down-plunge extent from surface for greater than 900 metres;
• To date, only 3 from 16 drill holes at Raja have been assayed for cobalt, including PAL0075, drilled up-plunge from PAL0116 and PAL0085, which intersected 10.8 metres @ 1,299 ppm Co, 6.2 g/t Au (8.7 g/t AuEq) from 8.7 metres. A systematic cobalt assay program of approximately 3,000 Rajapalot samples continues with further assays to be reported in the coming months.
• The winter diamond drill program totalled 16,204 metres in 75 drill holes across four exploration permit areas. Including those published here, assays from 28 drill holes have been released from Rajapalot and East Rompas. A further 47 drill holes are currently being logged and assayed.
• Diamond drilling is planned to restart during August 2018 at Hirvimaa and Männistö exploration permit areas.

Michael Hudson, chairman and CEO, commented:

Our Raja prospect, which is one of many prospect areas, continues to deliver. High-grade gold has again been intersected at Raja and drilled down plunge for greater than 450 metres with a width exceeding 100 metres. The continuity and predictability of high-grade mineralization is encouraging, with 4.0 metres @ 17.7 grams per tonne gold in PAL0092, 5.0 metres @ 12.4 grams per tonne in PAL0118 and 31.7 metres @ 8.4 grams per tonne gold in PAL0093 all recently drilled. With cobalt assays outstanding from these drill holes, and thousands of gold and cobalt assays still in the laboratory, we look forward to announcing data as they become available.

Click here to read the full Mawson Resources Limited (TSX: MAW) press release.