Canada's Goldsky Resources has completed its 31st drill hole for the Rajapalot Gold-Cobalt Project in Northern Finland, representing 61% of the planned 10,000m winter drilling programme.

Drilling is being carried out with four diamond drill rigs, three of which are focused on a planned 8,000m of infill drilling designed to upgrade confidence of the currently defined Raja and Palokas AuCo Inferred Resource envelopes. A fourth rig is target-test drilling on priority regional exploration targets.

Drill core from two holes has been cut and submitted to CRS laboratories, although an additional six holes are being cut at Palsatech's facility in Kemi, Finland, with first assay results expected in the coming weeks.

Rajapalot has gold-cobalt mineralisation within highly-sheared and foliated wall-rocks next to hydrothermally altered northwest to north dipping shear-zones. Prospects for high-grade gold and cobalt mineralisation occur across a 3km (east-west) by 2km (north-south) area within the larger 4km x 4km  project area.

Gold-Cobalt mineralization at Rajapalot has been drilled to over 640m below surface at both South Palokas and Raja prospects, and mineralisation remains open at depth across the entire project.

Inferred Mineral Resources (MRE) are 867, 000 ounces of gold and 4,311t of cobalt.

Four diamond drill rigs from Comadev and Arctic Drilling Company, all with water recirculation and drill cuttings collection systems, have been used in the drill programme, with core recoveries are excellent and average close to 100% in fresh rock.

Drilling is scheduled for completion in April.

Meanwhile, following Goldsky's recent 100% ownership of the Barsele Project, in northern Sweden (Västerbottens Län), the company has now implemented a strategy for a Preliminary Economic Assessment of the project, which includes an extensive drilling campaign on deposit.

"I look forward to giving the market more updates as we progress our objectives," said Goldsky Resources CEO Russell.