Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, announces first results from the summer exploration program at the Rompas gold-uranium project. The majority of assay results from this program are yet to be received. Two hundred and eighty three assays have been returned from rock chips sampled within the mineralized trend. Of these, a total of 44 grab samples were taken from or marginal to mineralized structures as defined by ground spectrometer surveying. The 44 mineralized grab samples averaged 67.7g/t gold and 0.42% uranium and ranged from 0.1g/t to 1415g/t gold and 0.31ppm to 10.5% uranium (Table 1).
Mapping and sampling has extended the mineralized trend by 100 metres south and by up to 200m width in places and has confirmed the tenor and grade of the bonanza gold and high grade uranium mineralization from earlier work at the Rompas discovery. Gold and uranium mineralization has now been discovered at surface over an area exceeding 6.5km in strike and 200m average width. Mineralization remains open in all directions. In total, to date, more than 2,500 surface rockchips, glacial till, weathered bedrock and organic samples have been collected over the project area this summer.
The grab samples were taken from mineralized structures, including shears, jogs and boudins that generally averaged 10-30cm wide that were excavated below 10-30cm soil cover. Grab samples are selective by nature and are unlikely to represent average grades on the property. In places a number of structures appear to be en echelon within the overall mineralized envelope. The Company has continued to discover new visible gold and high grade uranium surface showings, with more than 100 sites discovered this summer. Importantly, a significant majority of the area is below soil cover which is too thick for the discovery of near-surface radiometric occurrences.
A strong correlation exists between gold grades greater than 1g/t and uranium grater greater than 40ppm. It appears therefore that radiation spectrometry will prove an effective exploration and potential grade delineation tool for future work at Rompas. The current grab sample results were taken from or marginal to mineralized structures as defined by ground spectrometer surveying. A rock saw sampling program focused on more representative channel sampling of the high grade radiometric surface showings themselves is ongoing and results are awaited. In addition, initial assay data returned from soil sampling appear to correlate well and confirm the 6.5km by 200m mineralized footprint.
Lithological, alteration and geomorphological mapping is also ongoing over the main mineralized trend. Mawson has also contracted a specialist structural geologist who has prepared a report on structural controls for mineralization.
Being a new discovery the Rompas project is secured by claim applications. 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. A 256 hectare Natura 2000 area ("Romppaat") is also contained within the Rompas project area and correlates in part, but not exclusively, with known mineralized areas due to the presence of carbonate-favoring plants over the mineralized/altered rocks. Natura 2000 sites cover about 15% of Finland and approximately 30% of Northern Finland. Mawson has engaged consultants who have completed a report examining the need for a Natura assessment on the planned exploration program and its possible effects. The report concluded a Natura assessment, as laid down in section 65(1--2) of the Nature Conservation Act, is not needed for exploration for the Romppaat area.
Mr Hudson states, "Initial results from the first intensive exploration program at this exciting discovery have confirmed the tenor of gold and uranium mineralization and have been successful at increasing the known mineralization trend. Further surface discoveries are being made on a daily basis. A majority of the assay data from the summer field programs are awaited and will be released as they become available."
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 the leading Scandinavian uranium 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. Areva NC holds 11% of the Company and provides Mawson with an active technical partner.
In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru, with a focus on a new high grade gold 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: 42,697,253. Cash: approximately C$8.5 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 analyzed by Au-ICP21, ME-MS41u, PGM-ICP27 and ME-MS61u techniques by ALS Chemex Ltd's laboratories in Pitea, Sweden and 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.
Table 1 : Results from 44 grab samples taken from or marginal to mineralized structures as defined by ground spectrometer surveying at Rompas.
|Sample Number||SampleType||SampleSubType||Au g/t||U ppm|