Mr. Michael Hudson reports
MAWSON DRILLS 4.0 METRES @ 17.7 G/T GOLD AT THE RAJA PROSPECT
Mawson Resources Ltd. has released results from five new drill holes at the company's 100-per-cent-owned Rajapalot gold-cobalt project in northern Finland. Holes are reported from three prospect areas and all intersected gold mineralization.
Key points:
-
The best result reported is PAL0092 which intersected 4.0 metres at 17.7 grams per tonne gold from 246 metres at the Raja prospect. Cobalt assays are awaited (see Mawson news release
dated May 14, 2018).
- PAL0092 was drilled 45 metres west of drill hole PAL0093 which intersected 31.7 metres at 8.4 g/t gold from 244.1 metres (see Mawson news release
dated March 1, 2018) 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 at 3.3 g/t gold from 144.0 metres and two metres at 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 at 4.1 g/t gold from 124.0 metres (see Mawson news release
dated March 1, 2018).
- Over 470 metres of down-plunge continuity of high-grade gold-cobalt mineralization have 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 (versatile time domain electromagnetic) geophysical data indicates potential down-plunge extent from surface for greater than 900 metres.
- To date, only three 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 at 1,299 parts per million cobalt, 6.2 g/t gold (8.7 g/t gold equivalent) from 8.7 metres (see Mawson news release
dated May 14, 2018). 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 Mannisto exploration permit areas.
Michael Hudson, chairman and chief executive officer, stated: "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 at 17.7 g/t gold in PAL0092, 5.0 metres at 12.4 g/t in
PAL0118
and 31.7 metres at 8.4 g/t 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."
This release provides results from fie drill holes: PAL0092 (Raja), PAL0104 (Raja), PAL0115 (Rumajarvi), PAL0116 (Raja) and PAL0122 (South Palokas). Drill holes not reported above (PAL0104, PAL0115 and PAL0122) also intersected anomalous gold mineralization and assay results are provided in the associated tables. A plan view of the drill results and named prospects is provided in an image on the company's website. Cross-section and long section views and a prospect plan are included as images on the company's website. Assuming a predominant stratabound control, true thickness of the mineralized interval is interpreted to be approximately 90 per cent of the sampled thickness. Intersections are reported with a lower cut of 0.5 g/t gold over one-metre lower cut, no upper cut-off was applied.
In other news, a pilot hyperspectral study of 832 metres of drill core (PAL0092, PAL0093 and PAL0097) is in progress using the TerraCore SisuRock Gen 2 system (three cameras). This study aims to understand the relationship between high-grade gold and hydrothermal silicate alteration, in particular, hydrous silicates, muscovite, biotite and amphiboles.
Technical and environmental background
Five diamond drill rigs from the Arctic Drilling Company OY (ADC), Oy Kati Ab and MK Core Drilling OY, all with water recirculation and drill cuttings collection systems, were used for the drill program. Core diameter is NQ2 (50.7 millimetres) or WL76 (57.5 mm) diameter core. Core recoveries were excellent and average close to 100 per cent in fresh rock. After photographing and logging in Mawson's Rovaniemi facilities, core intervals averaging one metre for mineralized samples and two metres for barren samples were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. The remaining half core is retained for verification and reference purposes. Analytical samples were transported by Mawson personnel or commercial transport from site to the CRS Minlab Oy facility in Kempele, Finland. Samples were prepared and analyzed for gold at Kempele using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS (atomic absorption spectroscopy) equipment. The quality assurance/quality control program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. In addition, CRS inserts blanks and standards into the analytical process.
The qualified person for Mawson's Finnish projects, Dr. Nick Cook, president for Mawson and a fellow of the Australasian Institute of Mining Metallurgy, has reviewed and verified the contents of this release.
About Mawson Resources Ltd.
Mawson Resources is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rompas and Rajapalot gold projects in Finland.
BETTER INTERSECTIONS FROM THE 2018 WINTER DRILL PROGRAM
Hole Depth from Depth to Width Au
ID (m) (m) (m) (g/t)
PAL0085 124 133.9 9.9 4.1
PAL0085 137.9 138.9 1.0 0.5
PAL0085 170 171 1.0 1.7
PAL0089 86.65 88.65 2.0 1.2
PAL0089 92.45 93.45 1.0 1.7
PAL0089 101.2 102.2 1.0 0.6
PAL0091 145.9 155.8 9.9 2.5
includes 155 155.8 0.8 19.9
PAL0091 159.4 160.5 1.1 0.9
PAL0091 248.6 251.7 3.1 2.3
PAL0091 256.5 257.4 0.9 0.6
PAL0092 246.0 250.0 4.0 17.7
PAL0093 186 187 1.0 0.6
PAL0093 244.05 275.7 31.7 8.4
includes 252.15 263 10.9 21.0
PAL0093 280.4 281.4 1.0 6.8
PAL0088 142.0 143.4 1.4 0.6
PAL0088 205.0 206.0 1.0 0.6
PAL0097 164.0 165.0 1.0 0.7
PAL0097 169.6 170.6 1.0 0.7
PAL0097 197.0 198.3 1.3 0.7
PAL0097 200.3 201.4 1.1 0.6
PAL0097 256.6 264.3 7.7 1.5
PAL0097 269.3 270.3 1.0 1.5
PAL0097 281.3 285.3 4.0 1.9
PAL0097 290.5 291.6 1.2 2.5
PAL0097 294.8 296.8 2.1 2.7
PAL0099 16.7 17.7 1.0 1.2
PAL0099 65.7 70.4 4.7 2.1
PAL0100 289.0 291.8 2.8 0.8
PAL0100 294.0 296.3 2.3 2.9
PAL0100 300.0 301.0 1.0 1.4
PAL0104 280.0 282.0 2.0 0.5
PAL0109 15.6 23.0 7.4 2.4
PAL0109 79.2 80.2 1.0 0.6
PAL0109 83.2 84.2 1.0 0.6
PAL0110 25.2 26.3 1.1 4.0
PAL0110 37.6 42.3 4.8 2.5
PAL0115 122.0 123.0 1.0 0.6
PAL0115 125.9 127.9 2.0 0.6
PAL0115 165.0 166.0 1.0 1.1
PAL0115 230.6 231.4 0.8 0.6
PAL0116 144.0 149.0 5.0 3.3
PAL0116 154.0 156.0 2.0 3.6
PAL0118 322.0 329.0 7.0 2.8
PAL0118 368.1 391.2 23.1 3.4
including 381.0 386.0 5.0 12.4
including 381.0 382.6 1.6 37.3
PAL0122 87.0 88.0 1.0 0.8
PAL0122 124.2 125.0 0.9 1.0
PAL0122 129.0 132.0 3.0 1.4
PAL0126 6.65 7.5 0.85 0.64
Intersections are reported with a lower cut of 0.5 g/t
gold over two-metre lower cut. No upper cut-off was
applied.
INDIVIDUAL ASSAY DATA FROM REPORTED DRILL HOLES
Hole Sample From To Length Au
No. ID (m) (m) (m) (ppm)
PAL0092 253545 246.0 247.0 1.0 1.8
PAL0092 253547 247.0 248.0 1.0 1.8
PAL0092 253548 248.0 249.0 1.0 66.4
PAL0092 253549 249.0 250.0 1.0 0.7
PAL0104 270786 280.0 282.0 2.0 0.5
PAL0115 270786 122.0 123.0 1.0 0.6
PAL0115 270787 123.0 124.0 1.0 0.3
PAL0115 270788 124.0 124.9 0.9 0.1
PAL0115 270789 124.9 125.9 1.0 0.3
PAL0115 270790 125.9 126.9 1.0 0.5
PAL0115 270791 126.9 127.9 1.0 0.8
PAL0115 260230 165.0 166.0 1.0 1.1
PAL0115 260231 166.0 167.0 1.0 0.9
PAL0115 260277 230.6 231.4 0.8 0.6
PAL0116 257753 125.0 126.0 1.0 0.3
PAL0116 257754 126.0 127.0 1.0 0.1
PAL0116 257755 127.0 128.0 1.0 0.05
PAL0116 257763 135.0 136.0 1.0 0.1
PAL0116 257764 136.0 137.0 1.0 0.9
PAL0116 257772 144.0 145.0 1.0 2.67
PAL0116 257773 145.0 146.0 1.0 4.96
PAL0116 257774 146.0 147.0 1.0 0.26
PAL0116 257776 147.0 148.0 1.0 7.91
PAL0116 257777 148.0 149.0 1.0 0.93
PAL0116 257778 149.0 150.0 1.0 -0.05
PAL0116 257779 150.0 151.0 1.0 -0.05
PAL0116 257780 151.0 152.0 1.0 0.48
PAL0116 257782 152.0 153.0 1.0 0.11
PAL0116 257783 153.0 154.0 1.0 -0.05
PAL0116 257784 154.0 155.0 1.0 0.87
PAL0116 257785 155.0 156.0 1.0 6.33
PAL0122 257833 87.0 88.0 1.0 0.76
PAL0122 257835 88.0 89.0 1.0 0.09
PAL0122 257836 89.0 90.0 1.0 0.13
PAL0122 257868 124.2 125.0 0.8 1.0
PAL0122 257869 125.0 126.0 1.0 0.1
PAL0122 257871 126.0 127.0 1.0 0.2
PAL0122 257872 126.0 127.0 1.0 0.3
PAL0122 257873 127.0 128.0 1.0 0.5
PAL0122 257874 128.0 129.0 1.0 0.1
PAL0122 257876 129.0 130.0 1.0 0.8
PAL0122 257877 130.0 131.0 1.0 1.7
PAL0122 257878 131.0 132.0 1.0 1.1
PAL0122 257879 132.0 133.0 1.0 0.4
PAL0122 257880 133.0 133.7 0.7 0.1
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