Impact: Positive
Mawson Gold (MAW) has acquired the option to earn up to an 85%-interest in the 2,500 ha Skelleftea North gold project in northern Sweden. Skelleftea North is a large drill-ready project, located within the world-class Skellefte mining belt. The Skellefte Belt is comprised of poly-deformed, paleoproterozoic-aged volcano-sedimentary rocks containing several large gold deposits that have produced >6M oz Au. Overall, we laud the strategic fit. Mawson is excited about its track record for year-round drilling, ability to leverage its local exploration team and believe the acquisition should complement its expanding Rajapalot project pipeline, particularly as it prepares to spin off its Aussie projects. We believe the option may skew in Mawson’s favour given that it is not committed to considerable expenses for a couple of years, at which time it should have a much better handle on project geology. That said, there are drill-ready areas and would expect MAW to simultaneously test various staged targets, as it does at Rajapalot.
