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Finland
Rajapalot Project

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 Location:
33 km SW from Rovaniemi, Finland

  Project Contacts:
Ahjotie 7
Rovaniemi
Finland
96320
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Overview

StagePreliminary Economic Assessment
Mine TypeUnderground
Commodities
  • Gold
  • Cobalt
Mining Method
  • Longitudinal open stoping
  • Overhand Cut & Fill
  • Longhole open stoping
  • Transverse open stoping
  • Cemented backfill
  • Paste backfill
Mine Life9 years (as of Jan 1, 2022)
If in production today, Rajapalot would be the EU’s third largest cobalt mine and sixth largest gold mine.


Owners

Source: p. 4
CompanyInterestOwnership
Mawson Gold Ltd. 100 % Indirect
The Rompas-Rajapalot is held 100% in the name of Mawson Oy, Mawson’s 100% owned Finnish subsidiary.

Contractors

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Deposit Type

  • Stratabound
  • Hydrothermal


Summary:

The mineralization at Rajapalot is a stratabound, disseminated, hydrothermal, usually sulphide-associated, and structurally controlled gold-cobalt type. These are generally stratabound pyrrhotite-bearing iron-potassic (K-Fe) or iron+/-magnesium (Fe-Mg) systems with a Cu, Mo, W, B, Bi-Te (Se) association. There are no reasons to assume across the broader prospect area a lack of low-S “simple” Au-W-As gold systems.

The Rajapalot mineralization shows many of the characteristics of larger Proterozoic gold deposits, having a predominance of structurally controlled, stratabound occurrences commonly with best grade intercepts associated with fold hinges. Evidence is also emerging suggesting that organic matter also plays an important role in precipitating the high-grade potassic sulphidic gold-cobalt mineralization at Raja.

Prospects with high-grade gold and cobalt at Rajapalot occur across 3 km (east-west) by 2 km (north-south) area within the larger Rajapalot project exploration area measuring 4 km by 4 km with multiple mineralized boulders, base-of-till (BOT) and rare outcrops. High-grade Au-Co mineralization at Rajapalot has been drilled to 540 m deep at Raja and South Palokas prospects, but is not closed out at depth in any prospect. The only surface exposure of mineralization is at Palokas; however, with the exception of East Joki, all mineralization comes to the top of the bedrock below the till, less than 6 m below the surface. East Joki is 110 m from ........


Mining Methods

  • Longitudinal open stoping
  • Overhand Cut & Fill
  • Longhole open stoping
  • Transverse open stoping
  • Cemented backfill
  • Paste backfill


Summary:

The Rajapalot gold and cobalt project comprises five orebodies (Palokas, Raja, Joki, The Hut and Rumaj) within an area of approximately 3 km from west to east and 2 km from south to north, which commence from outcrops to 100 m below the surface, to a maximum depth of around 600 m.

The primary mining method selected for the Project is retreat longhole open stoping (LHOS) with 20 m level spacing and applied to the Palokas, Raja, The Hut and Rumaj deposits. Paste backfill is used to maximize mining extraction and reduce the tailings storage requirements on surface. The mining method selected for the Joki deposit is overhand Cut and Fill (C&F) due to its shallower dip angle with Cemented Rock Fill (CRF).

Longhole Open Stoping (LHOS)
The mining method selected for the Palokas, Raja, The Hut and Rumaj deposit, is overhand LHOS which requires ore development along or across the orebody strike (longitudinal or transverse respectively) for a level spacing of 20 m. Level waste development is required to provide a means of access from the decline access (typically in the footwall) for mining mineralized areas identified as economically mineable.

Using the LHOS approach, the orebody is developed to the strike extent on each working level and following this, each stope along strike is mined and paste filled on retreat. In general, stope production is overhand LHOS, working on top of or next to filled stopes and between 20 m high sill pillars (spaced e ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Metal in doré koz 82699
Cobalt Concentrate kt  ......  Subscription required  ......  Subscription required
Cobalt Metal in concentrate kt  ......  Subscription required  ......  Subscription required
Gold Equivalent koz  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2022 study.
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Reserves at :


Commodity Production Costs:

CommodityUnitsAverage
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
C1 cash costs Gold USD  ......  Subscription required&nbs
Assumed price Cobalt USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
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Operating Costs:

Units2022
UG mining costs ($/t milled) USD 34.9 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2022 study.
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2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 169.3
Backfill costs $M USD  ......  Subscription required
G&A costs $M USD 40.5
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Pipelines and Water Supply
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Proposed Heavy Mobile Equipment as of October 15, 2022:
HME TypeSizeQuantityLeased or
Contractor
Drill ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 15, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 15, 2022
....................... Subscription required ....................... Subscription required Subscription required Mar 21, 2023
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Staff:

EmployeesYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Preliminary Economic Assessment 2022
Press Release 2022
Press Release 2022
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