Corporate Update: Alto Quemado Gold-Copper Project in Peru
Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSX -- MAW; Frankfurt -- MRY. Mr Michael Hudson, President & CEO, announces the Company has assembled a field team to prepare for an 8 month field campaign at the Alto Quemado gold-copper project in Southern Peru. Mawson recently signed a Letter of Intent to acquire up to 100% of the property in a Company news release dated March 8, 2010. The field campaign will consist of the first detailed mapping, sampling and geophysical programs to be completed on the property with the aim of defining drill targets that will be tested in 2011.
Additionally, summary web video presentations regarding this project can now be downloaded from the following URL's:
- A shorter 3 minute web video overview at:
- A longer 8 minute web video overview at:
Alto Quemado is a significant new discovery in Peru. Mineralization can be characterized as gold-copper low-sulphidation to transitional porphyry style. It was not until informal miners from 2001-2007 exposed a network of high-grade gold structures beneath a gold-depleted weathered veneer that the true potential of the area was recognized. Potential for two styles of mineralization have been identified at the Property:
- High-grade near-term production gold target. Low sulphidation gold-copper mineralization present as multiple high grade (25g/t Au in oxide and +40g/t Au in sulphide) mineralized structures, typically 0.5m to 1.5m wide (locally up to 15m), and traceable for greater than 3km. Structures may contain significant copper.
- Large tonnage copper-gold porphyry target. The high-grade gold structures are hosted within an extensive argillic alteration system and lie adjacent to a leached porphyry exposed in outcrop that displays a strong IP response over 1.8km by 500m (remains open). Based on the IP signature, porphyry textures at surface and proximity to large porphyry copper mines, potential for the discovery of an underlying porphyry at the project is strong.
The qualified person for the Alto Quemado project, Michael Hudson, director and President & CEO for Mawson, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
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.