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Mawson Gold reports more high-grade gold and cobalt from Joki East prospect in Finland

Eight holes of now been completed at the target and mineralization remains open in all directions

Mawson Gold Limited -
Highlight assays included 5.5 metres at a grade of 6.9 grams per ton gold and 732 parts per million cobalt from a depth of 220.9 metres in one hole

Mawson Gold Limited (TSE:MAW) (OTCPINK:MWSNF) (FRA:MXR) has reported more high-grade gold and cobalt results from drilling on the Joki East prospect at its huge Rajapalot project in Finland.

Eight holes have been completed at the target and mineralization remains open in all directions and now extends over an area of at least 130 metres by 35 metres.

READ: Mawson Gold completes drilling at F11 target in Mount Isa block in Queensland, Australia

Notably, the ore body plunges at 25 degrees to the northwest (NW), which is a similar trend to other mineralized bodies defined at Rajapalot - a project, which hosts numerous gold- cobalt prospects within a 3 kilometre by 4 kilometre area.

Mineralization so far is thin, but high-grade, and appears to be thickening down plunge, Mawson noted in a statement.

Highlight assays included 5.5 metres (m) at a grade of 6.9 grams per ton (g/t) gold and 732 parts per million (ppm) cobalt (7.4 g/t gold-equivalent) from a depth of 220.9 metres in one hole - the deepest do far at Joki East. That included an intercept of 1m at  25.4 g/t gold and 617 ppm cobalt (25.8 g/t gold equivalent) from a depth of 223.8m.

Meanwhile, cobalt assays returned from Joki East, included 1.3m at 25.3 g/t gold and 2,327 ppm cobalt from 177.1m, including 0.9 m at 36.6 g/t gold and 2,539 ppm cobalt from 177.5m.

Mawson also told investors it had started its 18,000-kilometre winter drill program with the first of four drill rigs now mobilized to site to commence drilling at Joki East. Three additional rigs will be mobilized in the new year, it added.

In addition, Mawson said it has requested the Lapland centre for economic development, transport and the environment (ELY) to arrange a preliminary consultation as part of the environmental impact assessment (EIA) process.

The EIA procedure is not a permit procedure, but provides information on environmental effects of a project that will subsequently be taken into account by official authorities during mine permitting.

The EIA program is expected to be completed in 2023. Mawson has also proposed to the regional municipality of Ylitornio and the city of Rovaniemi that they request the Regional Lapland Council ("Lapin Liitto") to initiate regional land use planning for the Rajapalot project.

Contact the author at giles@proactiveinvestors.com

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