VANCOUVER, Jan. 28 - Mawson Resources Limited ("Mawson") TSXv - MAW; Frankfurt - MRY. Michael Hudson, President & CEO, announces that the Company has staked the Prastrun uranium-niobium-tantalum prospect in Northern Sweden. Prastrun is located 20 kilometres south of the Company's Klappibacken uranium project in the county of Jamtland in central Sweden and is contained within the 100% owned, 1,597 hectare Prastrun nr 2 permit application.
Mineralization at Prastrun was discovered during the ground follow up of airborne radiometric anomalies in 1978. Geological mapping, peat geochemistry, ground geophysics and detailed ground radiometric measurements were completed by the Swedish Geological Survey in the late 1970's.
Three linear outcrops of mineralized rock have been discovered over a 1400 metre strike length at Prastrun, the remainder of the prospect being covered by a thin (2-4 metre thick) veneer of glacial till. The north-westernmost outcrop is approximately 20 metres by 30 metres in size, whilst two smaller outcrops are exposed 700 metres and 1400 metres away to the south-east. Exploration on strike between the mineralized outcrops has shown anomalously high radioactivity at up to 8 times background. Two outcrop samples from historic work on the most south-eastern outcrop returned 0.07% and 0.57% of niobium oxide, trace and 0.03% tantalum and 0.01% and 0.12% uranium oxide. No drilling has been completed at the prospect.
Mineralization is present as betafite, a uranium-niobium-tantalum mineral and the target zone is hosted in alkali syenite gneiss or nepheline syenite gneiss within the Seve nappe of the Caledonian tectonic zone. Niobium's main use is as an additive to steel that increases it's tensile strength. Two percent niobium added to steel triples its PSI strength.
Mr Hudson states: "The Prastrun project is located close to the Klappibacken uranium project where Mawson has two drill rigs currently operating. We are encouraged by the initial grades of uranium sampled from three outcrops over an undrilled 1,400 metres. Together with the significant credits of niobium and tantalum, Prastrun represents another quality project for Mawson's expanding portfolio. Compilation of past work will commence immediately and ground work will commence when the snow melts in April."
The qualified person for the Prastrun project, Mark Saxon, Director and Vice-President of Exploration for Mawson, and a member of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
About the Company: Mawson Resources holds significant uranium resources in the nuclear energy reliant countries of Spain, Sweden and Finland. As the European Union reduces its reliance on carbon-based energy sources, Mawson is well placed as the Company develops its exploration portfolio towards the sustainable production of uranium in the shortest possible time frame.
On behalf of the Board,
"Michael Hudson"
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Michael Hudson, President & CEO
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 Borse have reviewed the information contained herein and, therefore, do not accept responsibility for the adequacy or accuracy of this news release.
