Mawson Resources Ltd (TSX:MAW) saw shares advance as it revealed it had discovered a new high grade gold trend 500 metres east of the Rompas prospect.
The outcrops were found during fieldwork in the summer and 50 samples were collected from which the grades ranged from more than 0.05 g/t gold to 851 g/t (grams per ton) gold, with an average of 21.6 g/t gold.
The prospect is part of its key Rompas- Rajapalot project in Finland and diamond drilling is now planned for this new area in November to December this year
"The under-explored greenstone belts of Northern Finland present one of the most exciting global gold exploration opportunities of recent years, and Mawson's long experience in the region is paying dividends," said Mr Hudson, Mawson's chairman and chief executive.
"The discovery is a credit to our increased geological understanding of the project, as well as the gold prospectivity of our large, district-scale, 100 square-kilometre mineral system under Mawson's tenure.
"Although this is early days at East Rompas, we are encouraged by the grade, style and strike length of the discovery.
"With new gold discoveries in outcrop and permits already in place, we can quickly move to drill testing this new discovery area while we plan for a large winter drill program at Rajapalot, located 8 kilometres east, commencing in January, 2018."
The gold mineralization in these newly discovered outcrops is hydrothermal, fracture-controlled and shows similar geology to the Joki discovery at Rajapalot.
The area is fully permitted for drilling within the recently permitted Mannisto exploration area.
Mawson shares added 4.84% in Toronto to C$0.325.