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Mawson Resources Drills Best South Palokas Intercept

Mining News - Published on Thu, 13 Feb 2020

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Mawson Resources Limited announced assay results from an additional 5 drill holes from the 2020 winter program at the Company's 100% owned Rajapalot Project in Northern Finland. The highlight is drill hole PAL0203 at South Palokas, where an 80 metre step out returned 8 metres @ 7.9 g/t gold from 303.0 metres, the best gold intersection to date from this prospect. In addition, hole PAL02020A drilled 370 metres down plunge from the resource boundary at Palokas, demonstrated the mineralized system is predictable and continues to significant depth.

Resource expansion drilling at Rajapalot is ongoing with five diamond drill rigs testing Palokas, South Palokas and Raja prospects. A total of 16 holes (PAL0202-PAL0216) for 5,520 metres have been completed, to schedule, out of a 15,000 metre planned program. The drill program aims to infill and extend mineralization (Figure 1) and provide the data for an updated resource estimate to be delivered by the end of Q3 2020. Cobalt and multi-element assays remain pending.

Drilling continues with two drill rigs at each of Palokas and South Palokas prospects and one at Raja prospect.

Highlights from the South Palokas prospect:

Drill hole PAL0203 intersected 8.0 metres @ 7.9 g/t gold from 303.0 metres (Tables 1-3, Figures 1-3)
This is an 80 metre down-plunge step out from the December 2018 resource area and the best gold intersection returned from South Palokas;

Highlights from the Palokas prospect:

Drill hole PAL0207 intersected 7.6 metres @ 1.6 g/t gold from 150.8 metres
Hole was drilled 30 metres to the southwest of PAL0030 (10 metres @ 10.6 g/t gold from 110.2 metres)
Drill hole PAL0206 intersected 1 metre @ 28 g/t gold from 262.2 metres:
This high-grade intersection is the first hole drilled on the next section 145 metres down-plunge from the PAL0030 section;
Drill hole PAL0202 tested 370 metres down-plunge from the resource boundary (2g/t gold equivalent "AuEQ" lower cut) at 600 metres below surface, while daughter drill hole PAL0202A was wedged at 451 metres to test a slightly deeper target:
Drill hole PAL0202A intersected 10.1 metres @ 0.6 g/t gold (no lower cut) from 771.7 metres. Although lower grades were encountered (Table 3), confirmation of the mineralized structure 600 metres down plunge from surface is considered significant and indicates the system is predictable and continues to depth;
Follow-up downhole electromagnetics ("DHEM") detected strongly conductive bodies lying immediately off both holes, helping to refine further drill targets;

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Posted By : Rabi Wangkhem on Thu, 13 Feb 2020
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