Mawson Announces Multiple Drill Hole Results at its Rajapalot Project

Mawson Resources Limited (TSX:MAW) announced results from nine new drill holes at the company’s Rajapalot project in Northern Finland.  Eight holes intersected gold mineralization across multiple prospect areas.

Highlights are as follows:

• The best assay result reported is PAL0118, drilled at the Raja prospect, which intersected 5.0 metres @ 12.4 g/t gold from 381.0 metres (Figures 1 and 2) within a broader mineralized zone of 23.1 metres at 3.4 g/t gold (no lower cut) from 368.1 metres. A separate intersection in PAL0118 intersected 7 metres at 2.8 g/t gold from 322 metres;
• PAL0118 was drilled 120 metres down plunge to the NNW of prior high-grade intersections including PAL0093 with 31.7 metres @ 8.4 g/t gold from 244.1 metres.
• Gold mineralization was intersected by diamond drilling at all 5 prospects drilled within the Rajapalot Project across an area of 2.5 kilometres by 1.5 kilometres.
• Fifty-nine holes (PAL0083–PAL0139, 141–142) have now been drilled during the winter program for a total of 13,079 metres of diamond drill core. Including holes from this release, 14 from 59 drill holes have now been released with gold assay data (also see Mawson News Release March 01, 2018). Results are pending for the balance of 45 diamond drill holes.
• Drilling continues 24/7 with three diamond drill rigs and one base-of-till rig, with the program on track to complete 15,000 metres in over 60 diamond drill holes by late April when winter conditions are forecast to end. Drilling is planned to recommence in summer after the winter melt.

Mr. Hudson, chairman and CEO, commented:

Mawson’s dual aims for this winter’s drill program were to systematically grid drill and extend known gold prospects, while also testing a dozen new semi-regional structural-stratigraphic targets. Although still less than a quarter of drill core from the winter program has been assayed, the first part of this strategy is clearly delivering at Raja, with further high-grade mineralization discovered including 5.0 metres @ 12.4 g/t gold in PAL0118 lying 140 metres down-plunge from 10.9 metres at 21.0 g/t gold in PAL0093.

In addition, we have drill discovered significant gold mineralization at five other prospects that were defined within Mawson’s extensive geophysical, geochemical and geological datasets across the 12 square kilometre Rajapalot project. We are excited to have increased the mineralized footprints of each of these prospects, while receiving validation of the targeting methods developed by our technical team in the search for gold under thin glacial cover.

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