Precious Metals

Mawson Resources Limited announced it has mobilized fifth diamond drill rig to the company’s 100 percent owned Rajapalot gold project.

Mawson Resources Limited (TSX:MAW) announced it has mobilized an additional diamond drill rig to the company’s 100 percent owned Rajapalot gold project in Northern Finland. Five rigs are now on site that continue to drill 24/7.

Highlights are as follows:

  • A fifth diamond drill rig has been mobilized to site with all rigs operating 24/7;
  • Thirty-nine holes (PAL0083 – PAL0121) have been completed or are in progress for a total of 8,900 metres of diamond drill core.
  • Results from the first five drill holes as reported March 01, 2018 were highly encouraging with PAL0093 intersecting31.7 metres @ 8.4 g/t gold from 244.1 metres, including 10.9 metres at 21.0 g/t gold from 252.2 metres. Results are pending for thirty-two holes;
  • Drilling at Rajapalot has focussed on expanding the size of the known gold prospects; Raja, Palokas, South Palokas andTerry’s Hammer and testing twelve semi-regional targets;
  • 592 base-of-till (“BOT”) holes for 2780 metres have been completed at the Rompas project which lies 8 kilometres west of Rajapalot. These shallow BOT holes targeted Rajapalot-style gold mineralization in the rocks surrounding Rompas. BOT holes were drilled at between 25-50 metres spacing on 19 lines for a total drill-traverse length of 22.9 kilometres. These holes will be used to define diamond drill targets for the summer season;
  • In the annual Fraser Institute survey as announced February 2018, Finland was recognised as the top jurisdiction in the world for exploration/mining Investment Attractiveness.

Mr. Hudson, chairman and CEO, commented:

With the excellent results achieved in our first five holes, and many high priority targets to test, we have elected to further increase our rig capacity at Rajapalot.With up to six weeks of the Finnish winter drill season remaining, and many holes already awaiting assays, we anticipate many months of discovery and news flow from this exciting program.

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

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