VANCOUVER, Feb. 19 - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Michael Hudson, President & CEO, announces that drilling has commenced at the Tasjo uranium project in north western Sweden where a 2,000 metre diamond drill program is planned for this winter.
The current program will test the Tasjo uranium mineralized sedimentary horizon at the Bodkullarna and Onbacken prospects, located 6 kilometres to the north east and 8 kilometres south west of the Kronotorpet prospect respectively, where a 53 drill hole program was completed in 2007. At Kronotorpet, uranium was drill tested in a mineralized sedimentary horizon from surface to typically 40 metres vertical depth, across an area covering 1,100 metres in strike and 250 metres in width. Drilling was performed on a grid of 25 or 50 metre spacing, on sections separated by 100 metres. Forty-one of the 53 drill holes intersected significant uranium mineralization, with the uranium host sequence ranging from 0.9 metres to 13 metres thick and grading between 100 ppm to 442 ppm U(3)O(8). The mineralized unit averaged 5.0 metres at 246 ppm U(3)O(8).
Tasjo is a sedimentary uranium deposit where uranium mineralization is associated with concretions of carbonatefluorapatite, which constitute up to 20% of the rock. Mass balance calculations indicate that the uranium grade of the fluorapatite is 0.16%. Significant rare earth element mineralization is contained within the uranium bearing sequence, again associated with the carbonate-fluorapatite. Drilled intersections at Kronotorpet range from 0.03% to 0.12% combined REE and averaged 0.09% combined REE. The dominant REE at Tasjo are yttrium (Y), cerium (Ce), neodymium (Nd), europium (Eu) and ytterbium (Yb).
Mr Hudson states, "The large scale of the Tasjo uranium project is demonstrated by the location of these drill sites over a total strike extent of 14 kilometres. Mawson's permit holding covers over 40 kilometres of the uranium host sequence. With three drill rigs already active at the Klappibacken uranium project and the fourth now operating at Tasjo we look forward to a good flow of drill results from Sweden over the next quarter."
Further information regarding these and previous results from the Tasjo uranium project may be found at http://www.mawsonresources.com/index.php?page=ProjectsTasjo. The qualified person for the Klappibacken project, Mark Saxon, Director and Vice-President of Exploration for Mawson, and a member of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
About the Company: Mawson Resources holds significant uranium resources in the nuclear energy reliant countries of Spain, Sweden and Finland. As the European Union reduces its reliance on carbon-based energy sources, Mawson is well placed as the Company develops its exploration portfolio towards the sustainable production of uranium in the shortest possible time frame.
On behalf of the Board,
"Michael Hudson"
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Michael Hudson, President & CEO
Forward Looking Statement. The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement. The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
