Mawson Resources Ltd announce a maiden inferred gold-cobalt mineral resource estimate for Raja and Palokas Prospects, at the 100% owned Rajapalot Project in Finland.
The resource estimation was completed by AMC Consultants Pty Ltd of Melbourne, Australia.
Key points of the announcement include:
A pit and underground constrained inferred mineral resource of 424 000 oz of gold at 3.1 g/t gold equivalent (4.3 million t at 2.3 g/t Au, 430 ppm Co) at 0.37 g/t AuEq cut-off open pit and 2 g/t AuEq underground was calculated, within a combined unconstrained inferred mineral inventory for the Palokas and Raja prospects of 482 000 oz at a grade of 2.4 g/t AuEq (6.2 million t at 1.7 g/t Au, 410 ppm Co) at 0.4 g/t AuEq cut-off.
The constrained resource demonstrates the high-grade of Rajapalot with open-pittable grades of 2.8 g/t AuEq (2.1 g/t Au and 420 ppm Co) and underground grades of 5.2 g/t AuEq (4.4 g/t Au and 520 ppm Co).
Electromagnetic fixed-loop transient and airborne VTEMplus surveys at least double the potential mineralisation footprints at the Raja and Palokas prospects and form immediate targets for the 15 000 m resource expansion diamond drill programme planned to start in January 2019 (subject to permitting).
The resource has substantial potential to grow, with only 20% (800 m) of the 4 km known mineralised trend included within the maiden resource to relatively shallow depths (average depth of drilling 88 m within 34.2 km drilled to date at Rajapalot).
Establishes Rajapalot as a significant and strategic gold-cobalt resource for Finland. The unconstrained maiden inventory positions Rajapalot as one of Finland’s current top three gold projects by grade and contained ounces and one of a small group of cobalt resources prepared in accordance with NI 43-101 policy within Europe