Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, provides an update on the active exploration program underway at the 100% owned Rompas gold-uranium project in Finland. In addition, the Company has also released an overview video of the Rompas project and field programs. This video can be viewed at: http://www.youtube.com/watch?v=y_ke3hfdFxA.
This second summer of field work at Rompas is focused on understanding the detailed controls on mineralization over the +6km strike length to define the highest priority drill targets. Currently, Mawson has submitted 700 rock and 660 soil samples for assay and results are awaited.
To better establish the continuity between previously identified high grade gold and uranium mineralized sites the Company has hand trenched two areas at close spaced intervals in North Rompas. This program has been successful in delineating continuity of radioactive zones, known to be associated with gold mineralization. The most promising area to date is a zone in the north eastern part of North Rompas which has been trenched at 20m intervals over a strike length of 120m. Numerous and regular 1-2m wide radioactive structures have been found across a width of between 15-25m along the entire 120m trenched strike. In the same area, prior to trenching, only 5 spot bonanza gold sites were discovered by radiometric testing through the 0.5-1m thick glacial soil cover.
In addition, Mawson is also currently completing:
- Detailed mapping at North and South Rompas, to refine the understanding of the key structural, geological and alteration signatures associated with gold and uranium mineralization;
- Channel sampling and mapping at Rumavuoma, located 6km to the south east of Rompas. Nine previous reconnaissance samples taken within a 3.5km by 400m area all recorded anomalous gold and uranium mineralization with samples ranging from 0.1g/t to 1.8g/t gold and 5ppm to 3860 ppm (0.39%) uranium and averaging 0.3g/t gold and 517ppm uranium.
- A 5 line-km of induced polarization geophysics survey over the mineralized sequence at both Rompas and Rumavuoma to characterize the chargeability and resistivity responses of the mineralized host and each distinct lithological trend;
- A closely spaced ground radioactive survey at Rompas.
Mr Hudson states, "This year's work program at Rompas is in full swing. As we increase the detail of our exploration it is pleasing to see continuity develop between the closely spaced trenches. This work is achieving its aim of defining robust drill targets which will be tested once permits are received. A large set of assay results from this year's work are pending, and will be released when they are returned from the laboratory."
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 gold and 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. In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru, with a focus on a new gold-copper 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: 51,645,753. Cash: approximately C$11.5 million.
On behalf of the Board, "Michael Hudson" | Investor Information |
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 prepared by ALS Chemex Ltd's laboratory in Pitea, Sweden and analyzed by Au-ICP21, ME-MS41u, PGM-ICP27 and ME-MS61u techniques by ALS Chemex Ltd's laboratory in 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.