Mawson Launches Summer Work at the Rompas Gold Discovery in Finland; Mineralized Footprint Expanded in All Directions
Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr. Michael Hudson, President & CEO, outlines the summer work program at the Rompas Au-U discovery in Finland where the Company has budgeted a C$750,000 program for this summer. Initial field results have expanded the mineralized area in all directions. Mr. Hudson also reports on the results of the recently completed stratigraphic drilling completed north of Rompas.
The second summer of work at Rompas will move from a prospecting dominated phase to a program focused on understanding the detailed controls on mineralization over the +6km strike length to define the highest priority drill targets. The Rompas project area is secured by claim applications and drilling and trenching will be permitted on granting of exploration claims. An experienced team of fifteen geologists and support staff is currently onsite and will work until October to achieve the program objectives.
Work commenced 4 weeks ago and initial radiometric surface spectrometer surveying has been successful in extending the known mineralized footprint approximately 50m to the east, as well as 100m north, of South Rompas. In addition, a new and continuous 10-15m wide and 100m long radiometric high has been discovered in the northwestern zone of North Rompas. Approximately 40 new mineralized sites have been discovered, stripped of moss and/or soil cover (Photo 1) and channel sampling has commenced in these new areas. Rock samples have been submitted to the laboratory for assay and will be released when available.
The exploration program over the discovery trend will include:
- Detailed mapping and prospecting over a 6km trend, with the aim to map and refine the understanding of the key structural, geological and alteration signatures associated with gold and uranium mineralization. Further mapping will be completed at a larger scale over the 30km mineralized trend known to host the Rumavuoma and Mustamaa projects areas.
- A bedrock sampling program over an area of 8km by 500m with the aim to develop a firmer understanding of continuity of mineralization. Sampling will consist of representative diamond saw-cut channels as well as pits and short trenches dug down to bedrock over areas with higher radiation.
- Prospect and regional-scale geochemical sampling of soils and organic matter, to better define extent of the mineralized trend, especially undercover.
- Five line-km of induced polarization geophysics over the mineralized sequence to characterize the chargeability and resistivity responses of the mineralized host and each distinct lithological trend.
- A research based project to determine origins and timing of gold and uranium mineralization and associated alteration.
Mr Hudson states, "A substantial exploration program at Rompas is warranted after the great success of the first year of exploration on the property in 2010. Field work this summer has already been successful in extending the footprint of the mineralized area. Although hundreds of sites with high grade gold and uranium have been discovered within an area exceeding 6km by 200m, much remains to be learnt from this highly prospective area and we look forward to delivering a steady and exciting news flow over the next 5 months from the Rompas project. The program will give the project the best chance to be effectively drill tested when drill permits are granted by the Finnish authorities".
In other news, the shallow drill program completed in May 2011, of 28 drill holes for 155.65m drilled along two traverses 100m and 300m to the north of the North Rompas mineralized zone. The stratigraphic drill program was designed to test for the presence of the host rock sequence undercover to the north of Rompas, and not to drill beneath known mineralized zones. The program was successful in proving the altered host sequence continues at least 350m undercover from the last mineralized site at North Rompas (Figure 1). Glacial cover averaged 3m to 5m over the area drilled while each drill hole averaged 5.5m depth.
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.
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.
Figure 1: Location of shallow stratigraphic drill profiles drilled 150m and 350m north of the zone of mineralization at North Rompas.
Photo 1: Typical mineralized site with soil and moss removed by hand and subsequently channel sampled with a diamond saw (Site 104793 2.6 metres @ 190.48g/t Au and 0.25% U looking southwest). Importantly, a significant majority (90-95%) of the area is below soil cover which is too thick for the discovery of near-surface radiometric occurrences shown above.