Business
Mawson Announces Over 1 Million Ounces Gold Equivalent at Rajapalot, Finland Gold Ounces Up 47%, Gold Grade Up 19%
VANCOUVER, BC / ACCESSWIRE / August 26, 2021 / Mawson Gold Limited ("Mawson") or (the "...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson Announces Over 1 Million Ounces Gold Equivalent at Rajapalot, Finland Gold Ounces Up 47%, Gold Grade Up 19%VANCOUVER, BC / ACCESSWIRE / August 26, 2021 / Mawson Gold Limited (\"Mawson\") or (the \"Company\") (TSX:MAW) (Frankfurt:MXR) (OTC PINK:MWSNF) is pleased to announce an independently verified update of the third constrained Inferred Mineral Resource estimate at its 100% owned Rajapalot project in Finland.The estimate was completed by Qualified Persons from AFRY Finland Oy , a European leader in engineering, design, and advisory services. Mineral Resources are calculated using a long-term gold price of US$1,590/oz and a cobalt price of US$23.07/lb and using 0.3 g/t gold equivalent \"AuEq\" open pit cut-off and 1.1 g/t AuEq underground cut-off (Table 1). AuEq values were calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/1005).Key Points:Base case Mineral Resource estimate 10.91 Mt @ 3.0 g/t gold equivalent (\"AuEq\"), 2.5 g/t gold (\"Au\"), 443 ppm cobalt (\"Co\") for 887 koz Au, 4.8 kt Co equating to 1.04 Moz AuEq in the inferred category;Compared to the previous Rajapalot resource estimation published on September 14, 2020 (Figure 4):Gold grade increased by 19% (AuEq grade by 12%);Contained gold ounces increased by 47% (contained gold equivalent ounces by 35%);Gold camp now comprises 8 distinct prospects, doubling the 4 previously contained in the 2020 Rajapalot Inferred Mineral Resource estimate (Figures 5 and 6);Substantial increases in existing resources demonstrate continuity within the deposits and expansion potential at depth and along strike (Figure 7):All resource areas remain open to depth and the Company has developed a strong geological and exploration model to target mineralization;Growth potential remains strong:Drilling covers only 20% of the mineralization-host package at Rajapalot (Figure 8);Rajapalot camp represents only 5% of 100 square kilometre Rompas-Rajapalot Finnish project area owned 100% by Mawson.Mr. Hudson, Chairman and CEO, states, \"Following a significant drilling effort, we are delighted to hit a milestone of 1.04 Moz AuEq, while delivering a year-on-year gold grade increase of 19% with contained gold up 47% from our last resource upgrade in 2020. Rarely does substantial resource growth come together with grade increases, and the robustness of Rajapalot at different c...