Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSX -- MAW; Frankfurt -- MXR, PINKSHEETS- MWSNF announces the second batch of drill results from the 2013 winter drilling program at the North Rompas, South Rompas and North Rajapalot prospects in Finland. Results from the remaining 29 holes of a 51 diamond drill hole program are reported below. The best intersection returned is 0.5 metres at 148 g/t gold and 0.42% U3O8 from 16.5 metres depth in drill hole ROM0074 at South Rompas.
Mr. Michael Hudson, President & CEO, states, "The majority of the new results presented here, which include 0.5 metres at 148 g/t gold at a shallow depth are from South Rompas (Figure 2), where the vein-style gold mineralization is shaping up. Notably, 9 of the 14 drill holes at South Rompas intersected gold bearing structures. Bulk testing is now required to estimate the true grade of the gold which varies from bonanza grades to lower grades over short intervals. It is also encouraging to see gold discovered in this program on lower priority geophysical targets at Rajapalot, 8 kilometres to the east of Rompas.
As previously discussed, a further 80% of highest priority targets on the Rompas-Rajapalot project remain within areas where the Company is not yet permitted to drill. This includes the extensive disseminated style mineralization discovered in 2012 at Rajapalot. Although Mawson holds the mineral rights within these areas, drilling is not permitted until the Company submits its environmental program and a modified claim decision is granted by the Finnish authorities. It remains critical to the development of the Rompas-Rajapalot project that we work in conjunction with the Finnish authorities to gain drilling access to our best exploration targets in the shortest possible timeframes."
Eight drill holes from North Rompas are reported, namely holes ROM0061 to ROM0068 (Figure 3). Holes ROM0061 -- ROM0063 were drilled on wider cross sections at 100-200 metres spacing while holes ROM0064 to ROM0068 were drilled on 40-50 metre spaced crossed sections (Table 2). Fourteen drill holes are reported from South Rompas, namely holes ROM0069 to ROM0082 (Figure 2). These holes were drilled on 10-15 metre spaced crossed sections (Table 2). Eight drill holes are reported from North Rajapalot, namely holes PAL001 to PAL007 (Figure 1).
Drilling at North Rajapalot encountered low grade mineralization, as evidenced in PAL0003 and PAL0003B which respectively intersected 2.5 metres at 0.3 g/t Au and 3.1 metres at 0.4 g/t Au. Although sub- economic, this additional information will help understand the controls and distribution of gold mineralization in this virgin area, located 8 kilometers east of Rompas (Figure 1).
At Rompas, the highest grade gold mineralization occurs in individual structures which may have a small horizontal footprint, perhaps less than the current drill spacing, within the much larger mineralized envelope. To date, drilling has not defined the scale, orientation or the continuity of the high grade gold within the broader mineralized envelope. The true thicknesses of the high grade structures remain unknown. However, down hole radiometric measurements are a good proxy for gold mineralization, and indicate that there are continuous zones of higher radioactivity with variable grades of gold mineralized structures, which now need to be tested via bulk sampling.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited is a resource acquisition and development company. The Company has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas-Rajapalot gold project in Finland.
On behalf of the Board,
Samples were transported by Mawson personnel from site to ALS Chemex Ltd's laboratory in Piteå, Sweden or Sevillle, Spain 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. 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, ALS Chemex inserts a number of blanks and standards into the analytical process. The drilling was undertaken by ADC Arctic Drilling Company Ltd Oy of Finland who provided HQ diameter core. Drill recoveries are excellent and average close to 100% in fresh rock. After photographing and logging, core intervals averaging 0.7 metres in length were cut in half at the Geological Survey of Finland core facilities in Rovaniemi, Finland. These half core one metre samples weigh less than three kilograms. The samples were then transported by Mawson personnel to ALS Chemex Ltd's laboratory in Piteå, Sweden (or Seville, Spain) 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. 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, ALS Chemex inserts a number of blanks and standards into the analytical process. The remaining half core is retained on site for verification and reference purposes. Test work has shown >90% of gold at Rompas to be fine and <100µm in diameter. 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.
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.
Table 1: Best Results from drill holes ROM0061-ROM0068 (North Rompas) ROM0069-ROM0082 (South Rompas) and PAL0001-PAL0007 (North Rajapalot) (lower cut 0.5 g/t gold or 100ppm U308)
Drill holes ROM0060, 61, 62, 63, 64, 66, 69, 75 and PAL0001-007 did not contain results above the lower cut.
|HoleID||Depth From (m)||Depth To (m)||Interval (m)||Au ppm||U308 ppm||Location|
Table 2: Drillhole collar details from this news release (Finnish Grid KKJ Zone 3, located by GPS)
|Hole ID||Easting||Northing||RL||Total Depth (m)||Dip||Azimuth|