Mr. Hudson, President & CEO states,
“While we would have preferred a stronger start to the winter drill program at Palokas, we remain mindful these holes are only the start of the first deeper drilling program that tests an extensive gold-bearing system. Our targeting methods using the low resistivity IP and VTEM geophysics are working and clearly define the mineralized host horizon, which we have now drilled over 1,000 metres of strike and intersected in every drill hole. Further away from Palokas, we see broad intervals of lower grade gold, within a 40 metre wide zone (ie drill hole PAL0009) of prospective rocks. As always, high-grade gold distribution is complex, and our drilling continues to help build up a picture of this extensive gold system.”
Key Points:
Drill results from the first four holes from the Palokas prospect and one hole from Hirvimaa are now available;
- All holes at Palokas have intersected the mineralized sequence. Only lower tenor gold mineralization has been discovered down dip and along strike from previous drilling, where marginal-style talc alteration predominates;
- Results from Palokas include 4 metres @ 1.2 g/t gold from 152.0 metres in PAL0009, drilled 65 metres down dip from PRAJ0110 (9.2 metres @ 3.2 g/t gold from 82 meters) – refer to Mawson New Release Sept 24 2015 and 3.1 metres at 1.4g/t gold from 150.6 metres in PAL0012, drilled 90 metres down dip from PRAJ0117 (2.0 metres @ 2.8 g/t gold from 66.4 meters, 3.0 metres @ 1.6g/t gold from 65.6 metres and 3.0 metres @ 1.9g/t gold from 109.9 metres) – refer to Mawson New Release Dec 18 2015.
- Results from the first deep drill hole drilled at Hirvimaa, PAL0008, located 680 metres north of Palokas, include 3.0m @ 1.4g/t gold from 31 metres;
Read the press release here for more details.
Download the press release pdf here.
Timeline
Mawson’s Kaita Gold Discovery & Exploration Update from Rompas, Finland 26 June 2013