Grab samples up to 3,220 g/t gold and 27.4% U3O8
Vancouver, Canada -- Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) continues to expand the Rajapalot project in Finland with the discovery of two new project areas with high gold and uranium grades, with prospecting grab samples of disseminated mineralization returning up to 3,220 g/t gold. These results extend the mineralized trend, which remains open, by 650 metres at Rajapalot.
Mr Hudson states, "As we continue to build our business in Finland it is very pleasing that our Finnish technical team continues to deliver such spectacular results to our investors. We believe the project is one of the world's most prospective greenfield gold projects, and given the extensive glacial cover in the area, the results highlight the potential of what remains to be found when the first program of larger scale drilling can commence. We anticipate receiving our full drill permits for within the Natura 2000 biodiversity areas in Q3 this year. Next month we will mobilize a larger drill rig to test the Hirvimaa area, as well as the hand portable core sampler to Raja West, to follow up our surface sampling."
A summary of sample statistics from the new project areas are shown in Table 1 and all results received to date are shown in Figure 1 and Table 2. New samples are all prospecting grab samples which are selective by nature and are unlikely to represent average grades on the property.
Mineralization from the new area is hosted in sulphide and biotite rich metasedimentary and volcanic rocks, with gold occurring as a disseminated or replacement style. The glacial boulders sampled and reported are the same lithologies as nearby outcrops and appear to form boulder trains, and are thus considered to be proximal to their source. Of note are the high uranium grades discovered in these new areas, suggesting the presence of gold only and uranium-dominant mineralized styles at Rajapalot. Like most of the Rajapalot area, the new prospect areas are within a predominantly swampy terrain and therefore very little in-situ bedrock has been located.
Table 1: Summary statistics from new grab samples from Rajapalot, Finland
|Prospect||Number of Samples||Area||Max Au g/t||Min Au g/t||Average Au g/t||Max U3O8 ppm||Min U3O8 ppm||Average U3O8 ppm||Max Co ppm||Min Co ppm||Average Co ppm||Sample Type|
|Rumajärvi East||58||270m x 160m||3,220||0.0||61.4||35,488||1.4||2,353||5,900||15||400||36 Boulders, 22 Outcrops|
|Raja West||16||250m x 70m||43.1||0.0||3.6||273,528||0.5||18,478||2,140||10||268||10 Boulders, 6 Outcrops|
The Company also announces that a full suite of multi-element analyses have now been returned from all core sample holes from the Palokas project at Rajapalot (holes PRAJ0003 to PRAJ0025, Table 4). Of note is the consistently low uranium and high cobalt grades associated with gold mineralization. Cobalt also forms a broader halos around lower (>0.1 g/t) grade gold mineralized zones. The low uranium grades drilled at Palokas also support the concept of both gold-rich and uranium-rich styles occurring within the Rompas-Rajapalot mineral field.
In other news, Mawson has been dealing with certain Finnish environmental authorities in regards to work completed during the 2010 and 2011 field programs (refer to press release dated June 26, 2013). The issue involves allegations that the Company's hand dug trenches from these programs have affected the nature values of the area where the work was undertaken. The Company has now been informed that the investigative process is complete and the prosecutor has reviewed the investigative material and referred the matter to trial, with the case to be heard in the Kemi-Tornio District Court during Q3 2014. Mawson is pleased the case is advancing and will be handled through a formal legal process. Mawson believes the claims made are without merit and will vigorously defend itself and its employees. Mawson has always maintained that hand digging has no material impact on the nature values of the area in question. Mawson believes it conducted its operations within the intent and law of the Mining and Nature Conservation Acts.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited is an exploration and development company. Mawson has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas gold project in Finland.
Analytical samples were transported by Mawson or GTK personnel from GTK to the Labtium Oy ("Labtium") laboratory in Rovaniemi, Finland where they were prepared and analyzed for Au by 705P techniques and multi-element analysis by XRF technique (pellet), method +175X. Certain samples were also transported by Mawson personnel from site to ALS Chemex Ltd's laboratory in Pitea, Sweden where the samples were prepared and sent to ALS Chemex Ltd's laboratory in Vancouver, Canada to be analyzed by Au-ICP21, GRA-21, ME-MS41U, PGM-ICP27 and ME-MS61U techniques. Naturally occurring radioactive material ("NORM") samples were also analyzed at SRC Geoanalytical Laboratories, Saskatchewan, Canada, by ICP1 Partial Digestion except for gold which was analyzed by fire assay. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, with blanks at the beginning of each batch. In addition, the laboratories also insert a number of blanks and standards into the analytical process. 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,
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.
Table 2: Summary statistics from all grab samples taken from the Rajapalot discovery to date.
|Prospect||Number of Samples||Approximate Area||Max
|Joki||14||800m x 150m||2,817||0.0||453.7||81900||3.7||12544||6 Outcrops, 8 Boulders||14 Jan13|
|Palokas||17||170m x 55m||85.0||0.0||20.7||15100||2.5||1331||15 Outcrops, 2 Boulders||14 Jan13|
|Rumajärvi||32||700m x 250m||1,380||0.0||85.6||4870||2.7||732||8 Outcrops, 24 Boulders||14 Jan13|
|Hirvimaa||17||300m x 100m||1520||0.0||55.5||17300||0.1||2246||8 Outcrops, 9 Boulders||14 Jan13|
|Rumajärvi East||58||270m x 160m||3,220||0.0||61.4||35,488||1.4||2,353||36 Boulders, 22 Outcrops||Here|
|Raja West||16||250m x 70m||43.1||0.0||3.6||273,528||0.5||18,478||10 Boulders, 6 Outcrops||Here|
Table 3: New assay results from prospecting grab samples from the Rajapalot area. Float = glacial boulder sample; Grab = prospecting grab sample from outcrop/sub-crop.
|SampleID||Sample Type||Au ppm||U3O8 ppm||Co ppm|
Table 4: Multi-element analyses from core sample holes PRAJ0003-PRAJ0025 from the Palokas Project, Rajapalot, Finland. Cobalt and uranium oxide reported for the first time.
|Hole ID||From (m)||To (m)||Width (m)||Au g/t||U3O8 ppm||Co ppm||Comment||Reported|
|PRAJ0005||6.65||19.22||12.6||3.6||18||522||Stopped in mineralization||16-Oct-13|
|PRAJ0023||18.62||28.52||9.9||2.2||32||736||Stopped in mineralization||20-Jan-14|
|PRAJ0024||28.05||35.95||7.9||2.7||16||524||Stopped in mineralization||20-Jan-14|