공시 • Nov 07
Mawson Finland Limited Provides Summary of 2024 Exploration Drilling At Rajapalot: Setting the Stage for Continued Success into 2025
Mawson Finland Limited provided an exploration summary of the highly successful 38 hole, 11,376 metre 2024 exploration drilling programme at the Company's wholly-owned Rajapalot gold-cobalt project in Finland. Additionally, the balance of outstanding cobalt results are also presented. During January to April 2024, 3 drill-rigs drilled a total of 11,376 metres of diamond core from 38 drillholes around the Palokas, South Palokas, The Hut, Raja and Joki zones of gold-cobalt mineralization. Primary aims of this 2024 drilling campaign at the Rajapalot project were to further delineate additional gold-cobalt mineralization in order to enlarge the inferred category mineral resource over the property beyond its presently defined size of 9.78 mt @ 2.8 g/t gold and 441 ppm cobalt, with total contained metal of 867 koz of gold and 4311 tonnes of cobalt. Palokas Area: Twenty drillholes were drilled around the Palokas and South Palokas mineralized zones, with several intercepts encountering significant gold-cobalt mineralization. Along the southern margin of the presently defined limits of the Palokas zone, several significant intercepts were drilled, including a shallow high-grade intercept of 7 m @ 9.1 g/t gold and 706 ppm cobalt approximately 70 metres below surface (PAL0346), and a deeper intercept of 12 m @ 1.7 g/t Au approximately 300 metres below surface. At South Palokas, significant intercepts were also recorded along the southern margin of its presently defined limits, with holes PAL0335, PAL0340, PAL0344, PAL0361 and PAL0364 all intercepting multiple significant intercepts from approximately 100 metres, to 450 metres below surface. A new zone of high-grade mineralization was discovered in the footwall of South Palokas, approximately 100 metres below the presently defined gold-cobalt mineralized envelope of the South Palokas. Here, a thick 21.75 metre lens of high-grade mineralization was intercepted in PAL0335, grading at 5.25 g/t Au & 515 ppm Co. A follow-up intercept on this ‘New Lens' of mineralization, located 50 metres up-plunge from the PAL0355 intercept, drilled a 17 metre thick interval grading 1.05 g/t Au and 224 ppm Co, confirming both the local geological and grade continuity of ‘New Lens'. Raja Area: Six drillholes were drilled around the Raja zone of mineralization in an effort to extend the mineralized envelope here to both the north-east, and south-west of its presently defined limits. Five of 6 drillholes intercepted significant mineralization, with drillholes PAL0355, PAL0353, and PAL0358 extending the known limits of gold-cobalt mineralization between 40 metres and 90 metres to the north-east. The Hut Area: Drilling around The Hut area consisted of 8 drill holes; 4 holes investigating potential extensions to The Hut inferred resource, 2 drillholes below the Terry's Hammer mineralized zone, and a further 2 drillholes in the unexplored area located between South Palokas and The Hut zones of mineralization. Drillholes PAL0363 and PAL0368 extended the mineralized strike-length at The Hut in both the north and south directions, while drillhole PAL0371 encountered gold-cobalt mineralization below Terry's Hammer. Joki Area: Drilling around the Joki mineralized zone consisted of 4 drillholes, of which 3 holes were designed to further design gold-cobalt mineralization up-dip of the main lens, while an additional drillhole was located to the north-east in order to step-out from the known limits of mineralization. The 3 drillholes placed up-dip or mineralization returned no significant intercepts, while the remaining north-east step-out drillhole (PAL0338) returned only a single significant intercept. Three diamond drill rigs from MK Core Drilling Oy, Comadev Oy and Arctic Drilling Company Oy, all with water recirculation and drill cuttings collection systems, were used in this drill program. Core diameter is NQ2 (50.7 mm). Core recoveries are excellent and average close to 100% in fresh rock. After photographing and logging in Mawson's Rovaniemi facilities, core intervals of between 0.5 to 2 metres are taken, then half-sawn by independent contractors the Geological Survey of Finland (GTK) in Rovaniemi, Palsatech Oy in Kemi and Geopool Oy in Sodankylä. The remaining half core is retained for verification and reference purposes. Analytical samples are transported by commercial transport from site to the independent contractor CRS Minlab Oy (" CRS ") facility in Kempele, Finland. Samples were prepared and analyzed for gold using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (including cobalt) are pulped at CRS, then transported by air to MSALABS in Vancouver, Canada and analyzed using four acid digest ICP-MS methods. All the foregoing laboratories are independent of the Company. The quality assurance and quality control program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate samples by quartering the core, and blanks placed within sample runs in interpreted mineralized rock. In addition, CRS inserts blanks and standards into the analytical process. In addition to the sample preparation and security measures described above, data verification procedures are well integrated into the Company's quality assurance and quality control program. Routine ongoing checking of all data is undertaken prior to being uploaded to the database. This will be followed by independent data verification audits at exploration milestones throughout the Rajapalot project's development. At Rajapalot, mineralization is regarded as orogenic in nature. All examples of gold-cobalt mineralization are consistently located within highly-sheared and foliated wall-rocks adjacent to strongly hydrothermally altered, northwest to north dipping shear-zones. Mineralization is typically encountered as disseminated to semi-massive sulfide lenses (predominantly pyrrhotite and lesser pyrite ± cobaltite), hosted within strongly deformed and altered, mafic volcanic and volcaniclasitic stratigraphy of the upper portions of the Paleoproterozoic-aged Kivalo Group of the Peräpohja Greenstone Belt. Prospects with high-grade gold and cobalt mineralization at Rajapalot occur across a 3 km (east-west) by 2 km (north-south) area within the larger Rajapalot project area measuring 4 km by 4 km with multiple mineralized boulders, base-of-till (BOT). Gold-Cobalt mineralization at Rajapalot has been drilled to approximately 470 metres below surface at both South Palokas and Raja prospects, and mineralization remains open at depth across the entire project.