Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSXv -- MAW. Mr Michael Hudson, President & CEO, is pleased to announce results from the Phase 1 drilling program at the Middagsberget project in Northern Sweden. Middagsberget lies within a 13 kilometre mineralized trend, which includes the Company's Fäbodliden and Vargbäcken gold projects. Gold mineralization at Vargbäcken lies 4 kilometres north-east from Middagsberget.
A total of 8 reverse circulation ("RC") holes for 583 metres were drilled. Results are presented in the attached tables 1 and 2. By applying a 0.5 g/t gold lower cut-off grade best results:
- RC01: 11m at 2.05 g/t gold from 32m, including 2m at 5.92 g/t gold;
- RC08: 29m at 1.37 g/t gold from 52m, including 2m at 3.91 g/t gold;
- RC07: 4m at 5.79 g/t gold from 42m, including 1m at 20.30 g/t gold;
- RC04: 6m at 2.07 g/t gold from 34m;
- RC02: 3m at 2.42 g/t gold from 26m, including 1m at 5.50 g/t gold;
- 4m at 2.72 g/t gold from 53m, including 1m at 9.01 g/t gold.
Higher grade results included 1m at 20.3g/t gold while the scale of the mineralized system is demonstrated by applying a lower cut-off grade of 0.2 g/t gold, where:
- RC01: 22m at 1.26 g/t gold from 27m;
- RC08: 47m at 0.99 g/t gold from 43m;
- RC07: 30m at 1.05 g/t gold from 27m;
- RC04: 36m at 0.95 g/t gold from 20m.
In this first drill program, gold mineralization has been drill delineated over an area of 100m by 100m. Mineralization remains open in all directions with 5 holes finishing in better than 0.3 g/t gold. Mineralization begins at 15m depth, immediately below the soil cover and extends to the limit of RC drilling at 80m depth. Drill hole and prospect plans can be found at http://www.mawsonresources.com/index.php?page=ProjectsMID.
Mr Hudson comments, "We are encouraged by the regular intersections of higher grade gold within a broad footprint of mineralization, which is developed from near-surface to the extent of our drilling. Follow-up drilling at Middagsberget is a clear priority. Importantly, these results demonstrate the prospectivity of the 13 kilometre Middasgberget-Fäbodliden-Vargbäcken mineralized trend. The company is actively exploring this mineralized corridor, with sampling of gold-bearing quartz veins at Fäbodliden and soil geochemical sampling along strike from Vargbäcken currently underway."
Gold at Middagsberget is disseminated and quartz vein-hosted and is present as both coarse grained visible gold or associated with fine grained sulphides. Mineralization is hosted within a silica-chlorite-albite-carbonate altered diorite and is typical of the greenstone-hosted style of the Skellefte Mining District.
It is not yet possible to make a conclusive statement defining true widths in the reported down-hole intercepts. The qualified person for the Middagsberget project is Mark Saxon, Mawson's VP-Exploration and a member of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, President & CEO
Investor Information
www.mawsonresources.com
1305 -- 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez (604) 685 9316
Investor Relation Consultants - Mining Interactive
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Email: info@mawsonresources.com
Forward Looking Statement.
This news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Neither the TSX Venture Exchange nor the Frankfurt Deutsche Börse have reviewed the information contained herein and, therefore, do not accept responsibility for the adequacy or accuracy of this news release.
Table 1 -- Middagsberget Reverse Circulation Drill Hole Results July 2005, 0.5 g/t Au Lower Cut
| Location | Drill Hole | From (m) | To (m) | Width1 (m) | Gold2 (g/t) |
|---|---|---|---|---|---|
| RC0501 | 32 | 43 | 11 | 2.05 | |
| including | 40 | 42 | 2 | 5.92 | |
| RC0502 | 26 | 29 | 3 | 2.42 | |
| including | 26 | 27 | 1 | 5.50 | |
| 32 | 37 | 5 | 0.73 | ||
| 53 | 57 | 4 | 2.72 | ||
| including | 53 | 54 | 1 | 9.01 | |
| 59 | 61 | 2 | 1.36 | ||
| RC0503 | 29 | 30 | 1 | 1.60 | |
| 36 | 37 | 1 | 1.30 | ||
| 51 | 53 | 2 | 1.30 | ||
| RC0504 | 22 | 26 | 4 | 1.18 | |
| 34 | 40 | 6 | 2.07 | ||
| 47 | 56 | 9 | 1.05 | ||
| RC0505 | 43 | 45 | 2 | 1.84 | |
| 73 | 75 | 2 | 1.86 | ||
| RC0506 | 21 | 23 | 2 | 1.14 | |
| 37 | 46 | 9 | 1.02 | ||
| RC0507 | 42 | 46 | 4 | 5.79 | |
| including | 45 | 46 | 1 | 20.30 | |
| RC0508 | 52 | 81 | 29 | 1.37 | |
| including | 52 | 54 | 2 | 3.91 | |
Note 1: Calculated using a 1m minimum thickness and a 0.5 g/t gold lower cut. No upper cut applied.
Note 2: Gold analyzed by 500g bottle roll technique with leachwell accelerant and an atomic absorption spectroscopy finish by ALS Chemex Ltd's laboratory in Piteå, Sweden. Checks made by Screen Fire Assay analysis at iPL Laboratories in Vancouver, Canada. Duplicates, repeats, blanks and known gold standards were inserted according to standard industry practice.
Table 2 -- Middagsberget Reverse Circulation Drill Hole Results July 2005, 0.2 g/t Au Cut Off
| Location | Drill Hole | From (m) | To (m) | Width1 (m) | Gold2 (g/t) |
|---|---|---|---|---|---|
| RC0501 | 27 | 47 | 22 | 1.26 | |
| RC0502 | 18 | 61 | 43 | 0.77 | |
| RC0503 | 17 | 55 | 38 | 0.34 | |
| RC0504 | 20 | 56 | 36 | 0.95 | |
| RC0505 | 21 | 77 | 56 | 0.55 | |
| RC0506 | 21 | 46 | 25 | 0.63 | |
| RC0507 | 27 | 57 | 30 | 1.05 | |
| RC0508 | 43 | 90 | 47 | 0.99 |
Note 1: Calculated using a 1m minimum thickness and a 0.2 g/t gold lower cut. No upper cut applied.
Note 2: Gold analyzed by 500g bottle roll technique with leachwell accelerant and an atomic absorption spectroscopy finish by ALS Chemex Ltd's laboratory in Piteå, Sweden. Checks made by Screen Fire Assay analysis at iPL Laboratories in Vancouver, Canada. Duplicates, repeats, blanks and known gold standards were inserted according to standard industry practice.