Mawson Gold Ltd. (MWSNF)

[Kaseymoe]

PR Aug 26th, 2021 -- two days in a row!

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/846-tsx/maw/105537-mawson-announces-over-1-million-ounces-gold-equivalent-at-rajapalot-finland-gold-ounces-up-47-gold-grade-up-19.html


Vancouver, Canada – Mawson Gold Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) is pleased to announce an independently verified update of the third constrained Inferred Mineral Resource estimate at its 100% owned Rajapalot project in Finland.

The estimate was completed by Qualified Persons from AFRY Finland Oy, a European leader in engineering, design, and advisory services. Mineral Resources are calculated using a long-term gold price of US$1,590/oz and a cobalt price of US$23.07/lb and using 0.3 g/t gold equivalent “AuEq” open pit cut-off and 1.1 g/t AuEq underground cut-off (Table 1). AuEq values were calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/1005).

Key Points:

Base case Mineral Resource estimate 10.91 Mt @ 3.0 g/t gold equivalent (“AuEq”), 2.5 g/t gold (“Au”), 443 ppm cobalt (“Co”) for 887 koz Au, 4.8 kt Co equating to 1.04 Moz AuEq in the inferred category;
Compared to the previous Rajapalot resource estimation published on September 14, 2020 (Figure 4):
Gold grade increased by 19% (AuEq grade by 12%);
Contained gold ounces increased by 47% (contained gold equivalent ounces by 35%);
Gold camp now comprises 8 distinct prospects, doubling the 4 previously contained in the 2020 Rajapalot Inferred Mineral Resource estimate (Figures 5 and 6);
Substantial increases in existing resources demonstrate continuity within the deposits and expansion potential at depth and along strike (Figure 7):
All resource areas remain open to depth and the Company has developed a strong geological and exploration model to target mineralization;
Growth potential remains strong:
Drilling covers only 20% of the mineralization-host package at Rajapalot (Figure 8);
Rajapalot camp represents only 5% of 100 square kilometre Rompas-Rajapalot Finnish project area owned 100% by Mawson.
Mr. Hudson, Chairman and CEO, states, “Following a significant drilling effort, we are delighted to hit a milestone of 1.04 Moz AuEq, while delivering a year-on-year gold grade increase of 19% with contained gold up 47% from our last resource upgrade in 2020. Rarely does substantial resource growth come together with grade increases, and the robustness of Rajapalot at different cut-offs and constraining models is impressive. This year we doubled the number of prospects within the resource area, and our annual winter campaigns have been adding 300-400 koz AuEq resource growth in a predominant 10-week drilling window. We have developed a strong geological and exploration model to target high-grades, and excitingly it remains early days at Rajapalot with 80% of the target untested, which is just 5% of Mawson’s larger 100 square kilometre Finnish project — all from a project that is one of the few in Finland that enjoys majority local support.”