Sign up USA
Proactive Investors - Run By Investors For Investors

Mawson Resources rushes in geophysical team to Rajapalot

Mineralization consists of sulphide, magnetite, biotite and chlorite hydrothermal mineral assemblages
Mawson truck
Striking while the iron is hot (but only figuratively ...)

Mawson Resources Ltd (TSE:MAW) has mobilized a geophysical survey contractor at its wholly-owned Rajapalot project in northern Finland.

Mawson, which already has two diamond drilling rigs operating round the clock on site, said the survey contractor would extend the ground magnetic data coverage at Rajapalot.

The move follows a successful winter drilling campaign that saw the discovery of gold mineralizaton well beyond the current limits of geophysical coverage.

READ an overview of the Rompas-Rajapalot project in Finland

The plan is to do 105 kilometre-long lines of ground magnetics at 50 metres spacing.

The planned ground magnetic survey will cover the newly discovered area of potassic-iron-sulphide alteration announced on 6 March.

Line spacing for the new survey will be 50 metre (m) at Rajapalot, and 10 metre infill at Palokas.

To date, drilling has defined a zone that extends for 1,200m along strike and 400m in width that remains open. Further mineralization of the same style was reported on 6 April.

"Our winter drilling program has significantly expanded the footprint of gold mineralization at Rajapalot, well beyond the area where we have detailed ground geophysical data,” said Michael Hudson, chairman and chief executive officer of Mawson.

“Owing to the association of pyrrhotite and magnetite with gold mineralization, ground magnetics is a valuable tool to map gold-bearing host rocks at Rajapalot under the thin glacial soil that covers 99% of the prospect area. While winter conditions persist, we have moved quickly to mobilize a geophysical team to site," Hudson added.

Shares in Mawson were off 1.3% at C$0.39 in early deals.

View full MAW profile View Profile

MAWSON RESOURCES LTD Timeline

Related Articles

elk-petroleum_brad-lingo-757.jpg
February 02 2017
Brad Lingo discussed with investors ELK's assets in the U.S.
tungsten.jpg
August 02 2017
Ormonde Mining is now only a year away from production at Barruecopardo
galileo resources team at Concordia copper project
May 15 2017
“We consider the drill programme a success and consider our in-house model for Concordia is developing favourably towards a major copper resource”
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use