Mawson Finland (MFL.V) has released the final assay results from its 33 hole winter drill program, which consisted of almost 11,400 meters of drilling. While none of the holes in this week’s update yielded barnburner-grades, keep in mind Mawson Finland’s strategy is to add tonnes to the existing resource estimate in order to achieve critical mass on its flagship gold-cobalt project in Finland.
The new assay results have provided the company’s technical team with a lot of additional data. Not only did the drill bit encounter a new area of mineralization (with an interval of 0.5 meters of 14.4 g/t gold), it was also successful in stepping out at South Paloka Deeps (where the strike length was extended by approximately 80 meters). On top of that, the drill program also established an 80 meter strike extension at South Palokas Deeps and a 46 meter down-plunge step-out at New Lens in the footwall zone with intercepts like 2.6 meters at 3.9 g/t gold and 463 ppm cobalt and 4.2 meters of 2.5 g/t gold and 371 ppm cobalt.
The 2025 winter drill program also extended the Raja Deeps zone by about 200 meters. This hole was drilled on the back of the result of a geophysical survey which highlighted a conductive anomaly. Plenty of data for the technical team to put their teeth in, and we will provide an update shortly. Meanwhile, it would make sense to read the entire 19 page press release to understand all the details of Mawson Finland’s update.
The share price has been a bit under pressure lately as the C$1.90 financing which was completed in the first week of March is now free trading. Trading volumes aren’t high (as the majority of the stock is owned by strong hands) and this created pressure on the share price and the stock is now trading at the lowest level in four months despite a 30% higher cobalt price and a 10% higher gold price since the first week of March.
Disclosure: The author has a long position in Mawson Finland. Mawson Finland is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
