With a total of nine (9) rigs turning on four gold exploration projects around the world, Mawson Gold (TSX: MAW)(OTC: MWSNF) – currently trading below US$0.35 per share – continues to announce high-grade gold intercepts at seemingly every turn.
The latest batch of high-grade hits comes from the company’s flagship Rajapalot Gold Project in Finland, where the drills have intersected 1.6 meters of 19.2 grams per tonne gold at the Joki East target.
This brand new discovery hole is situated about 30 meters northeast of the initial discovery hole at Joki East, which returned 1.6 meters of 28.3 g/t gold just a couple of weeks ago.
With momentum building by way of the drill-bit, it’s important to understand the importance of the “continuity” of the gold here.
Stepping out 30 meters and intersecting essentially the same widths, along with the extraordinarily high grades, is precisely what the Mawson team was aiming to achieve in the current drill round.
“Finland continues to deliver in our ongoing drill programs. Discovery of high-grade gold in all year round permitted drill areas, outside Natura 2000, is a major step forward. With our second high grade assay returned at Joki East, we are encouraged by the consistency of high grades between drill holes and look forward to additional results from what is shaping up as our fourth mineralized area to add to the three current resource areas.”
Our own Gerardo Del Real of Junior Resource Monthly and Junior Resource Trader sat down with Mr. Hudson for a first-hand look at the results as well as a quick update on the company’s other exciting gold projects in Australia and the United States.
Like I’ve said before… there’s a lot to like about Mawson Gold at current price levels.
With nine rigs turning on four global gold projects, MAW / MWSNF shareholders can expect plenty of near-term catalysts throughout the remainder of 2020 and into next year.
Mawson Gold (TSX: MAW)(OTC: MWSNF)
CEO, Michael Hudson, on Emerging Discovery
at Joki East Target, Finland
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the chairman and CEO of Mawson Gold, Mr. Michael Hudson. Sir Mike, how are you?
Michael Hudson: Mr. Gerardo Del Real, how are you?
GDR: I am well. It seems like every time I speak with you, we are talking about you discovering more gold. The most recent headline reads, "Mawson Drills Further High-Grade Gold at Joki East in Finland, Intersects 1.6 Meters at 19.2 Grams Per Tonne Gold."
And let me correct my pronunciation here. It's Joki East. Is that correct?
MH: It was close the first time, unfortunately, Gerardo. It's Joki.
GDR: Joki. I had it. I knew it. Alright. We’ll revert to the first pronunciation. But the main point here, of course, it seems like this is now the second news release in a row where you're getting very similar mineralization. And, of course, it's very high-grade. Can you speak to it and provide some context?
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MH: Well, firstly, I think just at the higher level, we raised a lot of cash in May/June… C$18 million at the time. And we're executing with the 9 rigs that we've talked about — drilling in four projects around the world.
And Finland, of course, is our flagship. And, combined with our Victorian projects, they're the focus where we're spending the majority of our dollars. And we're delivering from what shareholders put faith in us — in a monetary sense. And this is one of those deliverables.
Joki East is a new discovery. It's 1.6 kilometers away from our resource areas. It's had eight holes in it. And we've only released, I think, that this was the third hole. Four out of the eight holes, we saw visible gold. Now, we've released two of those four holes that had visible gold. So high expectations that this will continue to grow.
Also, it is thin, but it's very high-grade — and that works very well. Less rock needed to be mined for the same amount of gold, of course, it works very well. And not that this is a mine today, but just thinking “potential economic” scenarios.
And we will find more of these. Our techniques to find gold are now very well understood. This is the first time we've been exploring outside our resource areas, really, with this understanding. So we understand the geological host position so we can target that.
And then we run EM (electromagnetic) physics over that, and we get a “bing” in the geophysics — and we drill. And lo and behold, more often than not, we find gold. So it's a good formula that's working.
And this also critically is in an area where we can drill all year round. And that has huge implications from a drilling point of view up in Finland, but also potential economic scenarios going forward, of course too, in terms of how we can treat this. So all up — ticking the boxes.
GDR: You have assays pending. I couldn't help but notice that, of course, once again, you've highlighted the fact that of the eight holes drilled to date, visible gold has been identified in four of the eight drill holes. And so that's got to be exciting just from a geologic perspective, right?
MH: Yeah. Visible gold isn't a common thing. I mean, you'll see it bandied around in press releases. But really, gold is not meant to be seen. And the other adage is gold is where you find it.
And it's very rare to find gold at higher grades that is continuous. The continuity of gold here… we drilled 30 meters between drill holes that had the same width, and, essentially the same grade – very nice grades – that we put out in a release last week.
So continuity is key here as much as the grade. And average gold grade in mines today is one gram per tonne. And for the resources that are not mined — it's 0.8 grams, I believe. So gold grades are decreasing and we're dealing with 20 plus grams, at least, in these drill holes. That's not the mineable grade… but you can understand the importance of grade here as well.
GDR: I mentioned that every time we speak, you seem to be finding more gold. I know that rigs are turning elsewhere. How is that progressing?
MH: Progressing well. We've got drill results coming in left, right, and center. And we've got a bit of a focus because we just finished a program in Finland. We'll have more results soon from Sunday Creek in Australia.
And then we're due to give an update before the end of the year on Red Castle where we're drilling also. So that is another project in Australia. And of course, Mount Isa, which has just finished the one big drill hole that was funded by the Queensland government.
And then I should say our partners just announced drilling this week in Oregon on a project which we own today, but they're earning up to 80% by spending money drilling. And then they'll free carry us. So lots of results to come still as always.
GDR: If you like gold, and you like exploration, it's really, really hard not to like Mawson Gold right now. Mike, is there anything else you'd like to add to that?
MH: Watch this space… discoveries… it comes about by drilling. We're drilling lots and we're putting the results on the table.
GDR: You called 2020, "Discovery Season," at the end of 2019. It's played out well for you thus far and for shareholders. I'm looking forward to having you back on hopefully soon, Mike.
MH: Thanks, Gerardo.
For the past decade, Gerardo Del Real has worked behind-the-scenes providing research, due diligence and advice to large institutional players, fund managers, newsletter writers and some of the most active high net worth investors in the resource space. Now, he is bringing his extensive experience to the public through Resource Stock Digest, Junior Resource Monthly, and Junior Resource Trader. For more about Gerardo, check out his editor page.
