Vancouver, Canada — Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX: MAW) (Frankfurt: MXR) (PINKSHEETS: MWSNF) announces results from five new drill holes at the Company’s 100% owned Rajapalot gold-cobalt project in Northern Finland. Holes are reported from three prospect areas and all intersected gold mineralization.
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Mr. Hudson, Chairman and CEO, states, "Our Raja prospect, which is one of many prospect areas, continues to deliver. High-grade gold has again been intersected at Raja and drilled down plunge for greater than 450 metres with a width exceeding 100 metres. The continuity and predictability of high-grade mineralization is encouraging, with 4.0 metres @ 17.7 g/t gold in PAL0092, 5.0 metres @ 12.4 g/t in PAL0118 and 31.7 metres @ 8.4 g/t gold in PAL0093 all recently drilled. With cobalt assays outstanding from these drill holes, and thousands of gold and cobalt assays still in the laboratory, we look forward to announcing data as they become available.”
This release provides results from 5 drill holes: PAL0092 (Raja), PAL0104 (Raja), PAL0115 (Rumajärvi), PAL0116 (Raja) and PAL0122 (South Palokas).Drill holes not reported above (PAL0104, PAL0115 and PAL0122) also intersected anomalous gold mineralization and assay results are provided in Tables 2 and 3. A plan view of the drill results and named prospects is provided in Figure 1. Cross and long section views and a prospect plan are included as Figures 2–4. Tables 1–3 include all relevant collar and assay information. Assuming a predominant stratabound control, true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness. Intersections are reported with a lower cut of 0.5 g/t gold over 1 metre lower cut, no upper cut-off was applied.
In other news, a pilot hyperspectral study of 832 metres of drill core (PAL0092, PAL0093 and PAL0097) is in progress using the TerraCore SisuRock Gen 2 system (3 cameras). This study aims to understand the relationship between high-grade gold and hydrothermal silicate alteration, in particular, hydrous silicates, muscovite, biotite and amphiboles.
Technical and Environmental Background
Five diamond drill rigs from the Arctic Drilling Company OY (“ADC”), Oy Kati Ab (“Kati”) and MK Core Drilling OY (“MK”), all with water recirculation and drill cuttings collection systems were used for the drill program. Core diameter is NQ2 (50.7 mm) or WL76 (57.5mm) diameter core. Core recoveries were excellent and average close to 100% in fresh rock. After photographing and logging in Mawson’s Rovaniemi facilities, core intervals averaging 1 metre for mineralized samples and 2 metres for barren samples were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. The remaining half core is retained for verification and reference purposes. Analytical samples were transported by Mawson personnel or commercial transport from site to the CRS Minlab Oy facility in Kempele, Finland. Samples were prepared and analyzed for gold at Kempele using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS equipment. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. In addition, CRS inserts blanks and standards into the analytical process.
The qualified person for Mawson's Finnish projects, Dr. Nick Cook, President for Mawson and a Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limitedis an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rompas and Rajapalot gold projects in Finland.
On behalf of the Board, "Michael Hudson" | Further Information |
Forward-Looking Statement
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements, other than statements of historical fact, 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, changes in world metal markets, changes in equity markets, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, 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 1: Collar Information from 2018 Winter drilling at the Rajapalot Project (Finnish Grid, Projection KKJ2003)
HoleID | East | North | Azimuth | Dip | RL | Depth (m) | Prospect | Reported |
|---|---|---|---|---|---|---|---|---|
PAL0083 | 3408879.4 | 7372218.7 | 60 | 60 | 172.1 | 101.7 | Raja | Results Awaited |
PAL0084 | 3408480.4 | 7373564.5 | 116 | 65 | 175.0 | 191.2 | South Palokas | Results Awaited |
PAL0085 | 3408764.2 | 7372323.9 | 60 | 70 | 173.5 | 215.7 | Raja | |
PAL0086 | 3408742.9 | 7373932.4 | 116 | 60 | 175.0 | 135.0 | Palokas | Results Awaited |
PAL0087 | 3408764.2 | 7372324.0 | 60 | 50 | 172.0 | 241.7 | Raja | |
PAL0088 | 3408764.2 | 7372323.9 | 60 | 88 | 173.5 | 221.5 | Raja | Here |
PAL0089 | 3408438.4 | 7373589.0 | 155 | 60 | 176.4 | 169.0 | South Palokas | |
PAL0090 | 3408590.7 | 7374004.3 | 116 | 74 | 175.4 | 320.3 | Palokas | Results Awaited |
PAL0091 | 3408412.0 | 7373658.1 | 155 | 60 | 176.3 | 352.8 | South Palokas | |
PAL0092 | 3408703.1 | 7372438.0 | 60 | 83 | 174.8 | 323.9 | Raja | Here |
PAL0093 | 3408703.1 | 7372438.0 | 60 | 75 | 174.8 | 329.8 | Raja | |
PAL0094 | 3408525.5 | 7373608.3 | 116 | 60 | 174.2 | 191.0 | South Palokas | Results Awaited |
PAL0095 | 3408590.7 | 7374004.3 | 116 | 88 | 175.4 | 370.0 | Palokas | Results Awaited |
PAL0096 | 3408590.4 | 7373662.5 | 116 | 60 | 173.8 | 131.0 | South Palokas | Results Awaited |
PAL0097 | 3408703.1 | 7372438.0 | 60 | 69 | 174.8 | 344.7 | Raja | April 10, 2018 |
PAL0098 | 3408379.1 | 7373476.6 | 116 | 60 | 173.7 | 199.9 | South Palokas | Results Awaited |
PAL0099 | 3408188.6 | 7372763.8 | 110 | 60 | 179.7 | 154.6 | Terry’s Hammer | April 10, 2018 |
PAL00100 | 3408703.1 | 7372438.0 | 60 | 62 | 174.8 | 343.8 | Raja | April 10, 2018 |
PAL00101 | 3408109.8 | 7372764.0 | 105 | 60 | 174.0 | 182.7 | Terry’s Hammer | Results Awaited |
PAL00102 | 3408757.7 | 7374034.7 | 116 | 60 | 176.9 | 202.7 | Palokas | Results Awaited |
PAL00103 | 3408053.3 | 7372789.4 | 105 | 60 | 173.4 | 172.9 | Terry’s Hammer | Results Awaited |
PAL00104 | 3408703.1 | 7372438.0 | 240 | 88 | 174.8 | 326.7 | Raja | Here |
PAL00105 | 3407898.2 | 7372624.5 | 120 | 60 | 173.0 | 220.9 | Rumajärvi | Results Awaited |
PAL0106 | 3408863.7 | 7373985.4 | 130 | 60 | 175.2 | 161.1 | Palokas | Results Awaited |
PAL0107 | 3408775.6 | 7372487.6 | 60 | 70 | 176.8 | 335.1 | Raja | Results Awaited |
PAL0108 | 3407960.9 | 7372405.2 | 116 | 60 | 176.4 | 226.9 | Rumajärvi | Results Awaited |
PAL0109 | 3407962.1 | 7372405.1 | 60 | 50 | 176.1 | 289.9 | Rumajärvi | April 10, 2018 |
PAL0110 | 3408646.1 | 7373807.1 | 116 | 60 | 174.1 | 128.2 | Palokas | April 10, 2018 |
PAL0111 | 3408577.4 | 7372513.9 | 60 | 69 | 178.3 | 432.3 | Raja | April 10, 2018 |
PAL0112 | 3408288.9 | 7373153.0 | 180 | 55 | 171.8 | 221.7 | Hut | Results Awaited |
PAL0113 | 3408532.9 | 7374097.2 | 116 | 70 | 174.3 | 20 | Palokas | Results Awaited |
PAL0114 | 3407874.3 | 7372385.0 | 116 | 47 | 174.7 | 218.4 | Rumajärvi | Results Awaited |
PAL0115 | 3407903.4 | 7372520.2 | 123 | 48 | 173.4 | 320.1 | Rumajärvi | Here |
PAL0116 | 3408861.0 | 7372371.6 | 240 | 82 | 173.8 | 186.7 | Raja | Here |
PAL0117 | 3408479.3 | 7373336.5 | 116 | 45 | 172.4 | 148.9 | South Palokas | Results Awaited |
PAL0118 | 3408577.4 | 7372513.9 | 60 | 62 | 178.3 | 445.6 | Raja | April 10, 2018 |
PAL0119 | 3408915.9 | 7372341.2 | 240 | 88 | 172.9 | 178.2 | Raja | Results Awaited |
PAL0120 | 3408531.3 | 7373318.5 | 116 | 47 | 171.7 | 170.1 | South Palokas | Results Awaited |
PAL0121 | 3407986.0 | 7372584.6 | 116 | 50 | 177.5 | 249 | Rumajärvi | Results Awaited |
PAL0122 | 3408354.0 | 7373580.0 | 116 | 60 | 174.7 | 209.6 | South Palokas | Here |
PAL0123 | 3407939.0 | 7372655.0 | 120 | 60 | 173.8 | 198.45 | Rumajärvi | Results Awaited |
PAL0124 | 3408561.5 | 7372192.0 | 70 | 50 | 173.7 | 132.6 | Raja | Results Awaited |
PAL0125 | 3408577.4 | 7372513.9 | 60 | 56 | 178.3 | 112.5 | Raja | Results Awaited |
PAL0126 | 3408089.0 | 7373033.2 | 90 | 60 | 173.7 | 8.9 | Hut | April 10, 2018 |
PAL0127 | 3409496.5 | 7374569.3 | 142 | 50 | 178.7 | 157.7 | Hirvimaa | Results Awaited |
PAL0128 | 3410577.1 | 7372673.7 | 35 | 50 | 150.5 | 305.7 | Regional | Results Awaited |
PAL0129 | 3409604.1 | 7372111.5 | 36 | 50 | 151.8 | 305 | Regional | Results Awaited |
PAL0130 | 3409436.6 | 7374642.8 | 142 | 50 | 179.4 | 212 | Hirvimaa | Results Awaited |
PAL0131 | 3410496.2 | 7372437.2 | 125 | 50 | 145.9 | 149.4 | Regional | Results Awaited |
PAL0132 | 3409524.4 | 7371979.3 | 36 | 50 | 163.7 | 300.1 | Regional | Results Awaited |
PAL0133 | 3410334.0 | 7373237.0 | 135 | 50 | 175.0 | 167.3 | Regional | Results Awaited |
PAL0134 | 3409376.7 | 7374729.6 | 142 | 50 | 182.4 | 281.2 | Hirvimaa | Results Awaited |
PAL0135 | 3410400.7 | 7373174.3 | 135 | 50 | 161.5 | 196.3 | Regional | Results Awaited |
PAL0136 | 3409442.3 | 7371858.5 | 216 | 60 | 165.5 | 293.3 | Regional | Results Awaited |
PAL0137 | 3410477 | 7373094 | 135 | 50 | 159.6 | 212 | Regional | Results Awaited |
PAL0138 | 3410583 | 7372990 | 135 | 50 | 156.8 | 221.2 | Regional | Results Awaited |
PAL0139 | 3409645 | 7374573 | 142 | 50 | 181.4 | 139.4 | Hirvimaa | Results Awaited |
PAL0140 | 3409356 | 7371737 | 216 | 60 | 159.9 | 440.5 | Regional | Results Awaited |
PAL0141 | 3411012 | 7372821 | 135 | 50 | 160 | 143.4 | Regional | Results Awaited |
PAL0142 | 3410964 | 7372857 | 135 | 50 | 163.2 | 157.3 | Regional | Results Awaited |
PAL0143 | 3409600 | 7374623 | 142 | 50 | 180.8 | 196.8 | Hirvimaa | Results Awaited |
PAL0144 | 3410155 | 7374828 | 155 | 50 | 179.7 | 110.5 | Hirvimaa | Results Awaited |
PAL0145 | 3412561 | 7373167 | 180 | 60 | 171.9 | 450.0 | Regional | Results Awaited |
PAL0146 | 3409475 | 7374738 | 142 | 50 | 181.5 | 249.9 | Hirvimaa | Results Awaited |
PAL0147 | 3410099 | 7374932 | 155 | 50 | 180.5 | 203.6 | Hirvimaa | Results Awaited |
Table 2: Better intersections from the 2018 Winter Drill Program.
Intersections are reported with a lower cut of 0.5g/t gold over 2 metre lower cut, except where indicated by **. No upper cut-off was applied.
Hole ID | Depth From (m) | Depth To (m) | Width (m) | Au (g/t) | Date Reported |
|---|---|---|---|---|---|
PAL0085 | 124 | 133.9 | 9.9 | 4.1 | Mar 01, 2018 |
PAL0085 | 137.9 | 138.9 | 1.0 | 0.5 | Mar 01, 2018 |
PAL0085 | 170 | 171 | 1.0 | 1.7 | Mar 01, 2018 |
PAL0089 | 86.65 | 88.65 | 2.0 | 1.2 | Mar 01, 2018 |
PAL0089 | 92.45 | 93.45 | 1.0 | 1.7 | Mar 01, 2018 |
PAL0089 | 101.2 | 102.2 | 1.0 | 0.6 | Mar 01, 2018 |
PAL0091 | 145.9 | 155.8 | 9.9 | 2.5 | Mar 01, 2018 |
includes | 155 | 155.8 | 0.8 | 19.9 | Mar 01, 2018 |
PAL0091 | 159.4 | 160.5 | 1.1 | 0.9 | Mar 01, 2018 |
PAL0091 | 248.6 | 251.7 | 3.1 | 2.3 | Mar 01, 2018 |
PAL0091 | 256.5 | 257.4 | 0.9 | 0.6 | Mar 01, 2018 |
PAL0092 | 246.0 | 250.0 | 4.0 | 17.7 | Here |
PAL0093 | 186 | 187 | 1.0 | 0.6 | Mar 01, 2018 |
PAL0093 | 244.05 | 275.7 | 31.7 | 8.4 | Mar 01, 2018 |
includes | 252.15 | 263 | 10.9 | 21.0 | Mar 01, 2018 |
PAL0093 | 280.4 | 281.4 | 1.0 | 6.8 | Mar 01, 2018 |
PAL0088 | 142.0 | 143.4 | 1.4 | 0.6 | Apr 10, 2018 |
PAL0088 | 205.0 | 206.0 | 1.0 | 0.6 | Apr 10, 2018 |
PAL0097 | 164.0 | 165.0 | 1.0 | 0.7 | Apr 10, 2018 |
PAL0097 | 169.6 | 170.6 | 1.0 | 0.7 | Apr 10, 2018 |
PAL0097 | 197.0 | 198.3 | 1.3 | 0.7 | Apr 10, 2018 |
PAL0097 | 200.3 | 201.4 | 1.1 | 0.6 | Apr 10, 2018 |
PAL0097 | 256.6 | 264.3 | 7.7 | 1.5 | Apr 10, 2018 |
PAL0097 | 269.3 | 270.3 | 1.0 | 1.5 | Apr 10, 2018 |
PAL0097 | 281.3 | 285.3 | 4.0 | 1.9 | Apr 10, 2018 |
PAL0097 | 290.5 | 291.6 | 1.2 | 2.5 | Apr 10, 2018 |
PAL0097 | 294.8 | 296.8 | 2.1 | 2.7 | Apr 10, 2018 |
PAL0099 | 16.7 | 17.7 | 1.0 | 1.2 | Apr 10, 2018 |
PAL0099 | 65.7 | 70.4 | 4.7 | 2.1 | Apr 10, 2018 |
PAL0100 | 289.0 | 291.8 | 2.8 | 0.8 | Apr 10, 2018 |
PAL0100 | 294.0 | 296.3 | 2.3 | 2.9 | Apr 10, 2018 |
PAL0100 | 300.0 | 301.0 | 1.0 | 1.4 | Apr 10, 2018 |
PAL0104 | 280.0 | 282.0 | 2.0 | 0.5 | Here |
PAL0109 | 15.6 | 23.0 | 7.4 | 2.4 | Apr 10, 2018 |
PAL0109 | 79.2 | 80.2 | 1.0 | 0.6 | Apr 10, 2018 |
PAL0109 | 83.2 | 84.2 | 1.0 | 0.6 | Apr 10, 2018 |
PAL0110 | 25.2 | 26.3 | 1.1 | 4.0 | Apr 10, 2018 |
PAL0110 | 37.6 | 42.3 | 4.8 | 2.5 | Apr 10, 2018 |
PAL0115 | 122.0 | 123.0 | 1.0 | 0.6 | Here |
PAL0115 | 125.9 | 127.9 | 2.0 | 0.6 | Here |
PAL0115 | 165.0 | 166.0 | 1.0 | 1.1 | Here |
PAL0115 | 230.6 | 231.4 | 0.8 | 0.6 | Here |
PAL0116 | 144.0 | 149.0 | 5.0 | 3.3 | Here |
PAL0116 | 154.0 | 156.0 | 2.0 | 3.6 | Here |
PAL0118 | 322.0 | 329.0 | 7.0 | 2.8 | Apr 10, 2018 |
PAL0118 | 368.1 | 391.2 | 23.1 | 3.4 | Apr 10, 2018** |
Including | 381.0 | 386.0 | 5.0 | 12.4 | Apr 10, 2018 |
Including | 381.0 | 382.6 | 1.6 | 37.3 | Apr 10, 2018 |
PAL0122 | 87.0 | 88.0 | 1.0 | 0.8 | Here |
PAL0122 | 124.2 | 125.0 | 0.9 | 1.0 | Here |
PAL0122 | 129.0 | 132.0 | 3.0 | 1.4 | Here |
PAL0126 | 6.65 | 7.5 | 0.85 | 0.64 | Apr 10, 2018 |
Table 3: Individual assay data from reported drill holes.
Hole number | Sample ID | From | To | Length | Au ppm |
|---|---|---|---|---|---|
PAL0092 | 253545 | 246.0 | 247.0 | 1.0 | 1.8 |
PAL0092 | 253547 | 247.0 | 248.0 | 1.0 | 1.8 |
PAL0092 | 253548 | 248.0 | 249.0 | 1.0 | 66.4 |
PAL0092 | 253549 | 249.0 | 250.0 | 1.0 | 0.7 |
PAL0104 | 270786 | 280.0 | 282.0 | 2.0 | 0.5 |
PAL0115 | 270786 | 122.0 | 123.0 | 1.0 | 0.6 |
PAL0115 | 270787 | 123.0 | 124.0 | 1.0 | 0.3 |
PAL0115 | 270788 | 124.0 | 124.9 | 0.9 | 0.1 |
PAL0115 | 270789 | 124.9 | 125.9 | 1.0 | 0.3 |
PAL0115 | 270790 | 125.9 | 126.9 | 1.0 | 0.5 |
PAL0115 | 270791 | 126.9 | 127.9 | 1.0 | 0.8 |
PAL0115 | 260230 | 165.0 | 166.0 | 1.0 | 1.1 |
PAL0115 | 260231 | 166.0 | 167.0 | 1.0 | 0.9 |
PAL0115 | 260277 | 230.6 | 231.4 | 0.8 | 0.6 |
PAL0116 | 257753 | 125.0 | 126.0 | 1.0 | 0.3 |
PAL0116 | 257754 | 126.0 | 127.0 | 1.0 | 0.1 |
PAL0116 | 257755 | 127.0 | 128.0 | 1.0 | 0.05 |
PAL0116 | 257763 | 135.0 | 136.0 | 1.0 | 0.1 |
PAL0116 | 257764 | 136.0 | 137.0 | 1.0 | 0.9 |
PAL0116 | 257772 | 144.0 | 145.0 | 1.0 | 2.67 |
PAL0116 | 257773 | 145.0 | 146.0 | 1.0 | 4.96 |
PAL0116 | 257774 | 146.0 | 147.0 | 1.0 | 0.26 |
PAL0116 | 257776 | 147.0 | 148.0 | 1.0 | 7.91 |
PAL0116 | 257777 | 148.0 | 149.0 | 1.0 | 0.93 |
PAL0116 | 257778 | 149.0 | 150.0 | 1.0 | -0.05 |
PAL0116 | 257779 | 150.0 | 151.0 | 1.0 | -0.05 |
PAL0116 | 257780 | 151.0 | 152.0 | 1.0 | 0.48 |
PAL0116 | 257782 | 152.0 | 153.0 | 1.0 | 0.11 |
PAL0116 | 257783 | 153.0 | 154.0 | 1.0 | -0.05 |
PAL0116 | 257784 | 154.0 | 155.0 | 1.0 | 0.87 |
PAL0116 | 257785 | 155.0 | 156.0 | 1.0 | 6.33 |
PAL0122 | 257833 | 87.0 | 88.0 | 1.0 | 0.76 |
PAL0122 | 257835 | 88.0 | 89.0 | 1.0 | 0.09 |
PAL0122 | 257836 | 89.0 | 90.0 | 1.0 | 0.13 |
PAL0122 | 257868 | 124.2 | 125.0 | 0.8 | 1.0 |
PAL0122 | 257869 | 125.0 | 126.0 | 1.0 | 0.1 |
PAL0122 | 257871 | 126.0 | 127.0 | 1.0 | 0.2 |
PAL0122 | 257872 | 126.0 | 127.0 | 1.0 | 0.3 |
PAL0122 | 257873 | 127.0 | 128.0 | 1.0 | 0.5 |
PAL0122 | 257874 | 128.0 | 129.0 | 1.0 | 0.1 |
PAL0122 | 257876 | 129.0 | 130.0 | 1.0 | 0.8 |
PAL0122 | 257877 | 130.0 | 131.0 | 1.0 | 1.7 |
PAL0122 | 257878 | 131.0 | 132.0 | 1.0 | 1.1 |
PAL0122 | 257879 | 132.0 | 133.0 | 1.0 | 0.4 |
PAL0122 | 257880 | 133.0 | 133.7 | 0.7 | 0.1 |