The first two drillholes (DB2201- DB2202), reported here, both intersected significant near surface gold. Drilling of the final hole of the six hole program, which to date has drilled five holes for 591 m, should be completed in the following week. Logging and assay of the unreported drilling metres is currently in progress.
Highlights
High-grade gold intersections, including visible gold, reported from the first the two drillholes at Skelleftea North's Dalbacka prospect: 1.8 m at 28.4 g/t Au, including 0.4 m at 132 g/t Au, both from 82.8 m, 4.4 m at 4.8 g/t Au from 40.0 m in DB2201, Program targeting mineralized outcrop mapped 180m along surface, coincident with a 2km regional magnetic structure.
'Skelleftea North is located in the shadow of the headframe of a number of significant gold mines where >6Moz of gold have been produced from 4 mines within 22 km of the project. These results further highlight the fertility of the Skellefte belt. They also bode very well for the remainder of our drill program, which is initially focusing on testing the 180 m strike of mineralized outcrop and then extend beyond to where mineralization is interpreted to continue under cover, in association with a 2 km long, approximately NW-SE trending magnetic anomaly.
'Mawson is concurrently focused on its PEA work program for Rajapalot in
Skelleftea North
The drillholes reported here were collared located in the southern-central portion of the
The maiden drill program at the
Drill holes DB2203, DB2204 & DB2205 were designed to target the down-dip extensions of the central and eastern portions of the mineralized outcrop. An additional drill hole DB2206 was added during the program 180 m further north-west of the mineralized outcrop to explore for both down-dip, and along-strike continuation of the gold-bearing dyke system.
Skelleftea North
Mawson has the right to earn up to 85% of the project and enter into a joint venture through phased spending and work commitments. Further details on the
About
Mawson Gold Limitedis an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with its 100% owned flagship Rajapalot gold-cobalt project in
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Tel: +1 (604) 685 9316
Email: info@mawsongold.com
Forward-Looking Statement
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, 'forward-looking statements'). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to: capital and other costs varying significantly from estimates; changes in world metal markets; changes in equity markets; ability to achieve goals; that the political environment in which the Company operates will continue to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; risks related to negative publicity with respect to the Company or the mining industry in general; reliance on a single asset; planned drill programs and results varying from expectations; unexpected geological conditions; local community relations; dealings with non-governmental organizations; delays in operations due to permit grants; environmental and safety risks and other risks and uncertainties disclosed under the heading 'Risk Factors' in Mawson's most recent Annual Information Form filed on www.sedar.com. While these factors and assumptions are considered reasonable by Mawson, in light of management's experience and perception of current conditions and expected developments, Mawson can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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