Mawson Resources Limited (TSE:MAW) (OTCPINK:MWSNF) announced a couple of exciting exploration milestones at its Finnish and Australian projects.
The firm said Thursday that it has restarted activities at its Rajapalot project in Finland and began fieldwork at its new Australian acquisitions.
"We are excited to start exploration on our new acquisitions in Australia and recommence exploration in Finland,” Mawson CEO Michael Hudson said in a statement.
READ: Mawson Resources reports latest round of high grade drill results from Rajapalot gold project in Finland
Exploration will focus on the Hirvimaa target zone just 500 metres from the Palokas resource area where earlier drilling returned results of up to 8.2 metres at 19.1 grams per ton (g/t) gold and 1,572 parts per million (ppm) cobalt from 266.9 metres.
Hudson said that Mawson has reasons to be confident to find repeats of its mineralizing system in Finland along the 3 kilometre trend at Hirvimaa, located immediately along strike from the resource areas.
A geophysical team will conduct fixed loop transient electromagnetic surveys along the trend in order to generate new drill targets for a program to start later in the year.
In Australia, field teams are conducting reconnaissance exploration at the Sunday Creek, Redcastle and Doctors Gully projects following a review of historic literature and assessing data. Drill core at Sunday Creek indicates potential for gold external to previously-mapped dyke rocks, Mawson told shareholders. Comprehensive surface mapping, geophysical, geological and geochemical surveys are planned at Redcastle and Doctors Gully followed by drilling in the fourth quarter of 2020.
Hudson said the company is looking for the same style of mineralization as seen in the neighbouring Fosterville gold mine owned by Kirkland Lake Gold (TSE:KL) (NYSE:KL), one of the highest-grade, lowest-cost gold operations in the world.
“In Victoria, preliminary field investigations confirm the presence of extensive gold-mineralizing systems in all three project areas, and heavily support the proposed strategy to explore for Fosterville-like, shallow orogenic epizonal gold,” Hudson told investors. "We look forward to commencing exploration and ultimately drilling projects in Australia and Finland in the coming months."
Contact Angela at email@example.com
Follow her on Twitter @AHarmantas