Mawson Files One of Finland's Largest Claim Applications at Rompas
Vancouver, Canada -- Mawson Resources Limited ("Mawson") TSX-MAW; Frankfurt-MRY; OTC-MWSNF.PK. Mr. Michael Hudson, President & CEO, announces the Company has filed 684 claims applications for 60,897 hectares around the Rompas-Rumavuoma-Mustamaa gold-uranium projects in Northern Finland. These applications replace the Company's one year old claim reservations and represent one of the largest contiguous claim applications made in Finland's history which secures Mawson's title over a +30km mineralized trend. In combination with Mawson's existing claim applications that cover the main 6km gold-uranium mineralized trend at Rompas, Mawson now holds a total of 833 claim applications for 75,340 hectares at the Rompas Project.
"Besides the outstanding bonanza gold and uranium exploration results reported by the Company on Feb 22, 2011 from the first year of exploration along the 6km long trend at Rompas, Mawson has now defined a new and large gold-uranium mineralized camp, extending over a strike extent of 30km. The prospectivity of the area is reflected in the Company applying for one of Finland's largest contiguous claim applications. We look forward to putting a large field team back on the ground later this month." said Mr Hudson.
Rompas is a new gold-uranium discovery with bonanza grades within a sampling footprint of 6.0km strike and 200-250m width. During 2010 Mawson discovered 171 grab samples averaged 1,127.9 g/t gold and 3.6% uranium and ranged from 0.1 g/t to 22,723 g/t gold and 0% to 47.9% uranium and 80 channel samples which averaged 0.59m @ 203.66 g/t gold and 0.73% uranium. Channel samples are considered representative of the in-situ mineralization sampled and channel widths quoted approximate the true width of mineralization, while grab samples are selective by nature and are unlikely to represent average grades on the property. A detailed map showing the location and distribution of channel and grab samples can be downloaded from the Company's website at:http://www.mawsonresources.com/assets/docs/news/Rompas_ PLANFEB22.pdf.
At Rumavuoma, a gold-uranium mineralized trend is located approximately 3km east of the 6km long Rompas trend. Rumavuoma is secured by 13 claim applications for 1,292 hectares. Nine historic samples taken by Areva NC within an area of 3.5 kilometres by 400 metres assayed from 0.1g/t to 1.8g/t gold and averaged 0.3g/t gold and from 5ppm to 3860 ppm (0.39%) uranium and averaged 517ppm uranium.
The Mustamaa project is located approximately 30km south and along strike of the Rompas mineralized trend. Uranium at Mustamaa is locally hosted by a phosphatic breccia unit. The breccia is contained within greater than 500 metre long and up to 40 metre wide apatite bearing dolomite horizon. Better drill intersections include: R13: 55.4m @ 0.03% U3O8 from 104m, including 4.1m @ 0.08% U3O8 from 120m and R10: 18.1m @ 0.03% U3O8 from 65m, including 8.4m @ 0.04% U3O8 from 73m. Additionally at Mustamaa, a glacial boulder sampled by Mawson and located approxamitely 500m west of the drilled breccia unit assayed 0.5g/t gold and 165ppm uranium. This boulder is not sourced from the same breccias horizon suggesting the potential for further gold mineralization to be discovered between Rompas, Rumavuoma and Mustamaa.
Mawson has planned an intensive surface exploration program over the entire area starting in late May, 2011. The company has budgeted C$750,000 for the next 5 months at Rompas and field crews will be mobilized in the 3rd week of May due to an unusually warmer start to summer. The shallow drill program previously reported by the company on March 30 has been completed earlier than expected due to the early winter breakup. In total 28 drillholes for 155.65m were drilled along two traverses to the north of the 6km mineralized trend at Rompas. Further information will be released as it comes to hand.
Under Finnish legislation, prospecting work (non disturbing exploration) is allowable on a claim application; however disturbing exploration such as drilling and trenching will be permitted on granting of exploration claims.
About Mawson Resources Ltd
Mawson Resources Ltd is a resource acquisition and development company with METAL and ENERGY interests.
Mawson has distinguished itself as a leading Scandinavian gold and uranium exploration company, with a focus on the flagship Rompas project in 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$13 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 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.