See Dr. Nick Cook discussing the technical aspects of the Rompas-Rajapalot Project: https://www.youtube.com/watch?v=btCkz2BzozI.
The Rompas-Rajapalot exploration project is the Company’s flagship properties, located just south of the Arctic Circle in Finnish Lapland. These are straddles the boundary of the Ylitornio and Rovaniemi municipalities.
The Rajapalot project forms the eastern part of a 10 km by 10 km, 100% owned area comprising 3 resource bodies plus 2 new discovery areas within a 4 km x 3 km area in Northern Finland.
In late 2018, a pit and underground maiden Constrained Inferred Mineral Resource of 424,000 ounces of gold at 3.1 g/t AuEq (4.3 million tonnes at 2.3 g/t Au, 430 ppm Co) at 0.37 g/t AuEq cut-off open pit and 2 g/t AuEq underground was calculated.
A 15 km drill program completed during early 2019 increased volumes significantly below the 2018 maiden inferred resource. Best results from the 2019 drill program below the 2018 resource areas were:
Drilling recently recommenced, with a 15 km drill program ongoing through to April 2020. This drill program will infill and aim to extend resource areas. Drill targets for the program are well constrained, given the continuity of the linear high-grade gold mineralization within electromagnetic (“EM”) conductors. Fixed loop EM surveys aid in defining further blind mineralized bodies and downhole EM will be used to refine precise drill targets. A resource upgrade is planned for late Q2 2020.
Metallurgically, gold and cobalt are free milling which auger well for a conventional and simple flow sheet.
Finland refines half the world’s cobalt outside China. The world’s largest cobalt refinery is located 400 kilometres southof Rajapalot, where CRU estimates annual refining of 22,734 tonnes of cobalt (approximately 18% of world refined cobalt production), 90% of which was sourced from Chinese-owned mines in the Democratic Republic of Congo. Finland mines only 650 tonnes or 0.5% of the world's cobalt per year. The Rajapalot resource has the potential to support Finland’s desire to source ethical and sustainable cobalt.
Mawson appreciates the overwhelmingly strong support it receives from local stakeholders. The Ylitornio municipality, which hosts the Rajapalot project, is a sparsely populated area with a decreasing population. The Rajapalot project could create many opportunities for both the current population and those in the future who will settle within the area.