Mawson is a gold exploration company with high-quality gold assets in two safe, Tier 1 mining-friendly jurisdictions. The Company is expanding the most advanced gold-cobalt resource discovery in Finland, while testing a never-explored for search space for high grades at depth, in one of the most fertile gold regions in the world in Victoria Australia.
- An open pit and underground constrained Inferred Mineral Resource was estimated at 9.0 million tonnes @ 2.1 g/t gold (“Au”), 570 ppm cobalt (“Co”), which equates to 2.5 g/t gold equivalent (“AuEq”) for 600,000 ounces (“oz”) Au or 716,000 oz AuEq. The AuEq value was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/1430) and using a gold price of US$1,694 per ounce and a cobalt price of US$17.28/lb. Mineral Resources are stated at a 0.3 g/t AuEq open pit cut-off and 1.1 g/t AuEq underground cut-off (Table 1) from three resource areas: Raja, “Palokas” (incorporating both and Palokas and South Palokas) and Rumajärvi (Figure 1);
- A 20 kilometre drill program with 5 drill rigs is planned from mid to late December 2020 with the aim to immediately expand the Mineral Resource.
- Fully permitted for summer and winter drilling for next 2 years, strong local support, cobalt a strategic resource
- Exciting Targets with new Australian acquisition brings:
- Outright purchase and joint venture of three high-grade, Fosterville-style (shallow-orogenic) exploration projects with numerous historic mines that lack drill testing
- Right of first refusal on largest contiguous land package in the State of Victoria with 3,600sq km of high priority exploration ground.