Vancouver, Canada -- Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces the commencement of an induced polarization ("IP") and ground magnetic geophysical survey at the Palokas prospect at Rompas in Finland. The survey will test for the continuation of high grade and thick core sample results discovered from surface, which include 19.5 metres @ 7.4 g/t gold from 1.3 metres from PRAJ0006 and 5.4 metres @ 37.6 g/t gold from 2.5 metres from PRAJ0009 (reported in Mawson Press Release October 16, 2013).
Mr. Hudson, President & CEO, states, "With the recent discovery of thick and high grade mineralization from surface at Palokas, we have now moved rapidly to further define and refine near surface drill targets with this extensive ground based geophysical survey. The extent of the survey demonstrates the large scale of target we are searching for at Palokas, with 5 kilometres of target horizon to be tested along strike from the discovery area. In other news, the core sampler continues to operate at the Palokas prospect and further results should be available shortly."
In total, 26 kilometres of gradient array IP and 480 metre of pole-dipole IP are planned. Figure 1 outlines the extent of the survey area, which tests approximately a 5 kilometre trend to the north and south of the Palokas prospect area. Geovista AB has been contracted to complete the survey and conditions are presently ideal, with a thin stable ice covering of the swamps with moderate snow cover. The gradient array IP method has been chosen as it tests a large areal coverage to moderate depth at relatively low cost. The line spacing for measurement of the gradient array survey is 100 metres.
Additionally, the hand portable core sampler continues to operate at Palokas successfully during early winter. To date 23 holes in total have been drilled at the Palokas prospect (Figure 2), with a further 6 holes planned. Assay results are pending and will be released as received. Initial research has shown that magnetic susceptibility measurements show a strong correlation with the location of gold mineralization in core samples, with both the hanging wall and footwall quartz-rich rocks showing a gradual increase in magnetic susceptibility towards the mineralized zone. Pyrrhotite is largely responsible for the observed magnetic character, but magnetite is also present in some chlorite-rich mineralized samples. These observations support the use of induced polarization (IP) and ground magnetics over the Palokas area.
The Company would also like to announce an upgrade to its website at www.mawsonresources.com.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas gold project in Finland.
Technical Background
The qualified person for Mawson's Finnish projects, Mr Michael Hudson, President & CEO for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.
On behalf of the Board, "Michael Hudson" | Investor Information |
Forward Looking Statement
This press release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, including statements regarding the planned drill program and anticipated exploration results, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, capital and other costs varying significantly from estimates, equipment failure, unexpected geological conditions, operational delays, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
