Mawson Resources (TSX: MAW) CEO Michael Hudson: Latest Drill Results Significantly Expand Gold Mineralization Zone at Rajapalot Project
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me once again is Chairman and CEO of Mawson Resources (TSX: MAW)(OTC: MWSNF), Mr. Michael Hudson. Mike, thank you for joining me this evening.
Michael Hudson: Gerardo, it's always an absolute pleasure.
Gerardo Del Real: Well, it's been a couple of weeks and I know you've had four rigs turning 24/7 out there in Finland, and I wanted to get an update from you to see how things were coming along.
Michael Hudson: Well, it's coming along absolutely. We're inundated with drill core. We've got four diamond rigs and the base of till rig turning. We've got a bit of an extension to the winter, so here we are in almost mid-April and the drill rigs are still turning, which is great. We always say early, mid, and now maybe luckily late April and it looks mid to late April we'll be continuing to drill.
Gerardo Del Real: Excellent. Excellent. Now on April the 6th, you actually issued a news release where you hit 13.7 meters at two grams per tonne gold from 82 meters. What was interesting to me about the release, Michael, is that you're drilling now in areas that you've never drilled before and it seems like the exploration potential is opening up. Can you comment a bit on that and just provide some context?
Michael Hudson: The aim of this program was to demonstrate the scale of the system. It was never going to be a resource drill out. This is essentially the second year exploration, even though we took a number of years to get there through permitting slowness. We're here now and we knew we had a lot smoke at surface spread over a very large area through surface samples, boulders, and a few sub-crops sampled. We had thousands of boulders that went above ore grade, if you like, or grades that would be very interesting for us.
We knew the system was big, but of course, until you get the truth machine in there, you can never tell. And that's where we're really excited here. We've released three sets of results now. We started in the known zone, Palokas. We pulled two 100 gram meter intersections, which were very good grade and great width at Palokas.
And then we stepped away. We stepped south, west, and east of Palokas. And I'm talking almost up to two kilometers south, and then more than a kilometer east and west. And each hole that we put out in this last press release that was on the extremities of the system as we understand it, were mineralized, including that hole that you mentioned. We drilled something like close to 43 meters at one gram on the eastern margin of the system, many kilometers away from where we started the program. And that included that 13.7 at 2 g/t Au and another 6 meters at 2g/t Au in that same hole. So the system is certainly living up to expectations. I think many people would like to see some of the great grades that we hit at Palokas. And really that will come in my mind. Of course we've got to demonstrate it, but we're hitting grades that would be open-pittable, more than open-pittable. The average grade is less than a gram in open-pits around the world. And we're still seeing grades above that. So I think that we're very excited internally.
Gerardo Del Real: Excellent. Now you've released assays for I believe 19 holes, and if I'm not mistaken, you have another 23 that you're expecting results from?
Michael Hudson: Precisely, good math. We have drilled the 42 holes as of that release. Of course the drill rigs have been going on for another five days now, so there's more holes than 42. And we've only released assyas from 19 holes. So that's less than 50 percent, to do a bit more math. So 55 to 60 percent of our drill holes are waiting to be assayed or in the lab at the moment. So results will continue to flow over the next 6-8 weeks. As I started telling you we've been inundated with core. And even though we've got a very large team, it's just been a bit of a bottle neck processing it all. But that will come through the system over the next 6-8 weeks, the next release should be in the next week or two. And every couple of weeks, we should be releasing results. We very much look forward to what we can present.
Gerardo Del Real: Excellent, excellent. I encourage everybody to go to the website, MawsonResources.com, because the land package, it's district scale land package. If you like exploration, I think Michael was saying a couple weeks ago that exploration is back. And when you have four rigs turning 24 hours a day, seven days a week, I think we're bound to see some good numbers come out of there, continued good numbers. You've had some great releases, Mike.
Is there anything else you'd like to cover that maybe I missed? How's your general take on the market right now? What are you seeing? You made the comment a few weeks back that exploration was back and we've definitely seen an uptick in the momentum. What are you seeing?
Michael Hudson: I think we've just pulled back a little bit from that hype at the PDAC, of course. But I think that "Exploration is back" comment, it still very much stands. And that will stand for many years. Legacy projects aren't going to make it, we're seeing the majors investing back in exploration everywhere around the world. And this is where those bonafide district scale discoveries will bemore highly valued. We now we have three or four areas that we need to drill out. When we started a few months ago we only had the one area with lots of smoke at surfacing. And the project will continue to get bigger. We're well positioned.
Gerardo Del Real: Excellent. So I imagine we can expect a lot of drilling here. I know that the winter program here will be coming to an end soon. What's the plan after that? Obviously, you're going to regroup and get the results in and come up with an approach, but do you plan on drilling later in the year?
Michael Hudson: We will take many months to pull all this together. Exploration is really all about research and development. So there's just so much data to pull out of all this and determine where we exactly need to go. But we envision we will have a number of rigs turning during the summer. The base of till rig, we want to take on the margins of Rompas, if we can get some land permitted there over the coming months, and that's imminent. We're looking for the Palokas-style system around that high-grade Rompas vein system, eight kilometers to the west where we're drilling now. And that's a very exciting part of the project. And then we'll be back drilling, 80% of the area we can drill outside of winter conditions, and we'll be drilling in those areas come July, August I'd say. But we'll release the plan as it develops.
Gerardo Del Real: Excellent. Well in the meantime, I know like we mentioned earlier, you have assays pending. I look forward to having you back on so we can talk about those numbers. Thank you so much for your time, Mike. I really appreciate it.
Michael Hudson: Thanks, Gerardo. Much appreciated.