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Mawson Gold Doubles Gold-Cobalt Resource at Rajapalot in Finland

Mining News - Published on Wed, 16 Sep 2020

Image Source: Mawson Gold Rajapalot Project
Mawson Gold Limited announced the doubling of its inferred gold-cobalt mineral resource estimate at the 100% owned Rajapalot project in Finland over the last 20 months. The updated Mineral resource estimate was completed by AMC Consultants Pty Ltd. Chairman and CEO Mr Hudson said “The doubling of the Rajapalot gold-cobalt inferred resource is another key milestone for the project we original found as a single outcrop in a swamp a number of years ago, as the project starts to take critical form. A majority of the resource upgrade came from the 14 kilometre drill program completed earlier this year, after our geological team cracked the geological model and the structural association of gold within electromagnetic conductors. This makes for an effective and approximate US$10/oz discovery cost for the 2020 drill program and augers well for future growth. The robustness of the estimation can be demonstrated by the margin between lower cut-off (0.3 g/t AuEq) and the head grade of the resource, especially within the open pit constrained area (2.4 g/t AuEq). Mawson is fully funded and permitted to expand and infill the Mineral Resource, in order to continue to build critical scale with 20 kilometres of drilling planned to commence in December.”

Key Points:

An open pit and underground constrained Inferred Mineral Resource was estimated at 9.0 million tonnes @ 2.1 g/t gold, 570 ppm cobalt, which equates to 2.5 g/t gold equivalent for 600,000 ounces Au or 716,000 oz AuEq. The AuEq value was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/1430) and using a gold price of US$1,694 per ounce and a cobalt price of US$17.28/lb. Mineral Resources are stated at a 0.3 g/t AuEq open pit cut-off and 1.1 g/t AuEq underground cut-off from three resource areas: Raja, “Palokas”

The updated Mineral Resource doubles the tonnes with a similar grade from the previous inferred Mineral Resource estimation of December 2018 which was 4.3 million tonnes at 2.3 g/t Au, 430 ppm Co

A total of 72% of the resource falls within a WhittleTM optimized pit outline or 6.7 million tonnes @ 2.1 g/t Au, 499 ppm Co, 2.4 g/t AuEq for 512,000 oz AuEq at 0.3 g/t AuEq cut-off at a gold price of US$1,694 per ounce and a cobalt price of US$17.28/lb of the constrained resource

Of significance is the recognition of high-grade trends within the down-dip envelopes at the Raja and Palokas prospects

These high-grade trends are inferred to develop at the lines of intersection between reactive host rocks and steeply to vertically dipping, fracture-controlled hydrothermal alteration

A 20 kilometre drill program with 5 drill rigs is planned from mid to late December 2020 with the aim to immediately expand the Mineral Resource

Source :

Posted By : Yogender Pancholi on Wed, 16 Sep 2020
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