Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX-MAW; Frankfurt-MRY; OTC-MWSNF.PK. Mr. Michael Hudson, President & CEO, announces the Company has commenced shallow ("deep till") drilling at the Rompas gold project in Northern Finland.
"To drill the first core at Rompas is a significant advancement. This shallow drill program will aid in understanding what occurs beneath the thin glacial soil cover that covers 90% of the project and will aid in defining deep drill targets to be tested when permitted." said Mr Hudson.
Approximately 50-100 diamond drill holes are anticipated to be drilled with a snowmobile-transportable, low environmental footprint drill rig. Each hole will be 50 millimetres in diameter and will average between 4 to 6 metres in depth (Photo 1).
As previously reported, the program aims to drill on a grid spacing through the glacial soil or till (which covers 90-95% of the property). Holes will test bedrock along strike from the high-grade gold surface showings that were discovered during the 2010 summer field program. The first full exploration season in 2010 at Rompas identified 171 grab samples which averaged 1,127.9 g/t gold and 3.6 % uranium and ranged from 0.1 g/t to 22,723 g/t gold and 0 to 47.9% uranium and 80 channel samples which averaged 0.59 metres @ 203.66 g/t gold and 0.73 % uranium within a sampling footprint of 6.0 kilometres strike and 200-250 metres width. Channel samples are considered representative of the in-situ mineralization sampled and channel widths quoted approximate the true width of mineralization, while grab samples are selective by nature and are unlikely to represent average grades on the property. A detailed map showing the location and distribution of channel and grab samples can be downloaded from the Company's website at http://www.mawsonresources.com/assets/ docs/news/Rompas_PLANFEB22.pdf.
Being a new discovery the Rompas project is secured by claim applications. Deep drilling and trenching will be permitted on the granting of exploration claims. The granting of claims in Finland is currently slow and Mawson is working with the Finnish authorities to facilitate this process in the shortest possible time.
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Ltd is a resource acquisition and development company with METAL and ENERGY interests.
Mawson has distinguished itself as a leading Scandinavian uranium and gold exploration company, with advanced projects in Sweden and Finland. As the European Union moves to reduce its reliance on carbon-based energy sources and continues to debate energy security, Mawson is well positioned to provide Europe with the option to fuel its future. In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru, with a focus on a new gold-copper discovery at Alto Quemado.
With a strong cash position and a multi-jurisdiction European and South American portfolio, Mawson is ideally positioned to enhance its status as a leader in the uranium and gold industries.
Shares Outstanding: 50,705,753. Cash: approximately C$12 million.
On behalf of the Board,
Michael Hudson, President & CEO
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas +1 (604) 657 4058
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.
Mawson samples were prepared by ALS Chemex Ltd's laboratory in Pitea, Sweden and analyzed by Au-ICP21, ME-MS41u, PGM-ICP27 and ME-MS61u techniques by ALS Chemex Ltd's laboratory in Vancouver, Canada. The qualified person for Mawson's Finnish projects, Erkki Vanhanen, Finnish Exploration Manager for Mawson with a designation of European Geologist for the European Federation of Geologists (EFG), has reviewed and verified the contents of this release.