Mineralized footprint expanded in all directions
VANCOUVER, June 30, 2011 /CNW/ - 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 - http://files.newswire.ca/748/mawsonphoto1.pdf) and channel sampling has commenced in these new areas. Rock samples
have been submitted to the laboratory for assay and will be released
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
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
Prospect and regional-scale geochemical sampling of soils and organic
matter, to better define extent of the mineralized trend, especially
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
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 - http://files.newswire.ca/748/mawsonfig1.pdf). 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
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
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.
SOURCE Mawson Resources Ltd.
For further information:
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