Mawson Resources (TSX: MAW) CEO Michael Hudson After Discovering New High-Grade Gold in Outcrop: “It’s Gold Everywhere on this Property”
Gerardo Del Real: This Gerardo Del Real with Resource Stock Digest. Joining me today is Chairman and CEO of Mawson Resources (TSX: MAW)(OTC: MWSNF), Mr. Michael Hudson. Mike, how are you sir?
Michael Hudson: I'm great today. Good afternoon to you too, Gerardo.
Gerardo Del Real: Thank you very much, Mike. Mawson had some pretty impressive news, and news that I think is important, because I think it sets the table well for the next couple of months of news flow. Let me read the headline, and hopefully you can fill in the details for me, Mike. The headline reads, "Mawson discovers new high-grade gold in multiple outcrops at East Rompas sample grades up to 851 grams per tonne gold." Pardon me. You're sampling grades up to 851 grams per tonne. It's a large, district scale land package. I know it's attracted the attention of a lot mid-tiers and majors, because I was at Beaver Creek and I had several approach me and ask me about the company. With that being said, tell me what you're doing to advance this very, very prospective part of the property?
Michael Hudson: Well it's gold everywhere really on this property and it keeps delivering, Gerardo, simply put. We should go back for 30 seconds and just look at the history. We found a very high-grade outcropping ridge five years ago, ‘11 and ‘12 called Rompas. It was 6 kilometers and had hundreds of very high-grade but nuggety gold outcrops but spectacular grades, things that people haven't seen.
Then we went further east, 8 kilometers and found the Rajapalot area and that's where we just finished our last week of drill program. We got many hundred gram per tonne meter drill intersections over multiple kilometers, two and a half kilometers. We found a number of high-grade systems and we've only tested 5% of that area. Now step back, the geologists have worked very hard at understanding this system and with their first big winter program last year in context with some of the historic data, we figured that these two systems, the Rompas style and the Rajapalot style are actually very closely associated, not only in the style but in the stratigraphic package so they lie beside each other because we were finding some of the similar rocks beside Rompas. And we were seeing some of those high-grade nuggety veins beside the Rajapalot mineralization.
So we said why can't we get Rajapalot mineralization, the good disseminated style we've been looking for and drilling with great success beside Rompas? So we permitted the area around Rompas and the geology drove us to this area, and we found a 750 meter long zone with high-grade gold in outcrop. This is not boulders, this is outcrop that we've been finding this gold and you can have a look at the figures again. I draw people to the figures in the release and you can see it's quite spectacular. Many, many, many samples. Very early day discovery, it's not even a month or so old and a lot more results will flow.
Gerardo Del Real: Now just for scale and context, I mentioned that it's a district scale land package. So this is located 8 kilometers to the east, is that correct?
Michael Hudson: It's located 8 kilometers west of Rajapalot.
Gerardo Del Real: West.
Michael Hudson: West. It's hard to get in your head the scale of this system. This a hundred square kilometers system. It's a district scale system and there's very few places in the world you can sample gold in outcrop. Very few places in the world where you can sample gold up to these levels. And a small anecdotal story is that we put some photos in the press release, a small little mini-drill so we're sampling the rock with just twenty centimeter little pokes into the rock with mini-drill, and there's a sample there with just massive gold in the sample. One of our directors asked me to circle the gold because that's what's traditionally done in the business, right? But when people get visible gold they put a little red circle around it in the press release. Now, we couldn't put a circle on the gold because it's all gold.
Gerardo Del Real: It's everywhere.
Michael Hudson: It's everywhere. Yeah.
Gerardo Del Real: Wow, fantastic. So what are the next steps, Mike? What do you plan on doing to unlock what's underneath? Obviously the samples at surface and the outcrop are fantastic. When are we poking some holes in the ground?
Michael Hudson: Yes, so that's the truth machine cometh, right? And that's the only true way of determining any system. And like the guys at Novo, right? The pressure's there to put the drill holes in and like the guys north of us at Orion, the pressure is to put drill holes into the system and that's what we need to do here with very high-grade gold in outcrop. Only early days, one month in but we're fully permitted to drill this area, summer and winter. So it's really just getting the sequence right. So we've got more exploration to do, we know there's a lot more to see albeit with only a few percent outcrop, so we've got thin glacial till that covers 98% of this area also so we only see 2% of the area that outcrops. We've got to do more prospecting. We're moving the geophysicists in to map the rocks that are undercover and then we'll putting the drill holes in to answer your question late November, early December.
Gerardo Del Real: Excellent. Have you considered a YouTube video to demonstrate the potential with gold at surface?
Michael Hudson: Well, I think I was just given a hint that I should.
Gerardo Del Real: Very good, Mike. Well listen I want to thank you for your time. I appreciate you coming on. I think again this really does set the table for the next couple of months. It's going to be a very, very exciting drill program. Can we talk a bit about the market cap because I know it's still tying you relative to the upside and the exploration potential.
Michael Hudson: Well, if you like some of our competitors with multi, hundreds of millions of dollars market caps with early stage exploration then you should love Mawson at $35 million market cap. We got a big system, we've demonstrated drill grades over a large part of it. We've got Finland's best ever drill hole drilled at Rompas. The best ever heavy mineral sample with 5,000 nuggets from till. We've got gold literally dripping out of the ground wherever we looked, and now we're understanding the system in context. So, this system is developing and we've got multi-phases. We'll be drilling this discovery at east Rompas. We're going back with a big program, Rajapalot, when we get snow cover and freezing of the ground there. So lots building up in Mawson.
Gerardo Del Real: Excellent. In the meantime, I do encourage as always everybody to go to the website. It's a phenomenal exploration story. I think you coined the term a few months back that exploration is back, and I think this is going to be one of the more exciting drill programs out of any junior. The website is MawsonResources.com. Michael Hudson. Mike, thanks again for your time sir.
Michael Hudson: Always a pleasure, Gerardo.
Gerardo Del Real: Thank you.