VANCOUVER, Aug. 24, 2016 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces an update on the summer exploration drill programs at the 100% owned Rompas-Rajapalot gold project in Northern Finland.
- A 225 base-of-till ("BOT") drill hole program is now underway at Raja, located east of Palokas;
- All permits have been received for hand-portable diamond drilling at the Palokas gold prospect. Drilling will commence in the coming weeks;
- Significant advances in the geological understanding of the Rompas-Rajapalot project have been achieved. Structural-stratigraphic and fluid-rock similarities have been identified across a range of mineralization styles, allowing recognition of more than 65 kilometres strike of gold-prospective host stratigraphy;
- Over the last year significant gold intersections drilled into the host stratigraphy at the Palokas project include:
- 19.0 metres @ 5.3 g/t gold from 38.7 metres in drill hole PRAJ0109 (see Mawson Press Release September 01, 2015).
- 8.4 metres @ 4.2 g/t gold from 206.0 metres in drill hole PAL0016 (see Mawson Press Release March 07, 2016) drilled 350 metres along strike from the main Palokas mineralization which included PRAJ0109.
Mr Hudson, President & CEO states, "As we explore the Rompas-Rajapalot project, we continually see evidence for the development of a large scale hydrothermal gold-bearing system. The frequency of high-grade gold we have discovered over a 10 km by 10 km area is impressive, especially in context with our new structural interpretation which has defined more than 65 kilometres of gold-prospective host stratigraphy. We are systematically advancing the project during the summer and the upcoming winter programs with drilling, combined with rigorous geoscientific synthesis. We look forward to recommencing diamond drilling and the increased news flow which will follow."
Drilling of two hundred and twenty-five BOT holes at Raja is now underway. The prospect lies to the east of Palokas, and is outside Natura 2000 areas. Drilling is being undertaken on a 150 metre grid, with infill holes at closer spacing planned after geochemical assays have been returned. This drilling is taking place on Mawson's recently granted exploration permit at Hirvimaa and within an area covered by a landholder permit. Previously untested surface targets are the focus for the program and include:
- Raja, where 23 boulders and subcrops extend over 1,500 metres and by applying a >0.1 g/t gold lower cut, range from 0.1 g/t gold to 236 g/t gold with an average of 22.6 g/t gold and median of 1.0 g/t gold. This area is interpreted as the extension of the Palokas mineralized zone.
Additionally, diamond drilling with the light-weight, hand-portable "Winkie" rig will recommence in early September and continue until late November when winter commences. Approximately 10 holes for up to 1,000 metres are planned to test for near surface gold mineralization at the following targets:
- Rumajärvi, located 1,500 metres south of Palokas, where 68 boulders and subcrops >0.1 g/t gold range from 0.11 g/t gold to 3,870 g/t gold with an average of 101.4 g/t gold and median of 0.6 g/t gold.
- Boardwalk, which remains untested by drilling, where 13 boulders and outcrops >0.1 g/t gold range from 0.18 g/t gold to 221 g/t gold average 38.2g/t gold and have a median of 1.0 g/t gold. These boulders have a similar style to gold-mineralized host rocks at Palokas.
From December, when frozen ground conditions allow for permitted access, the winter program will commence with seven hundred BOT drill holes planned to systematically test the larger Palokas and North Rompas areas. Infill ground magnetic and gradient IP geophysical surveys are also planned for winter, as well as 10,000 metres of diamond drilling. This program is subject to final permitting. Multiple surface geochemical targets are planned to be tested, which include:
- Joki, which not been drill tested to date, where 13 boulders and outcrops >0.1 g/t gold range from 0.10 g/t gold to 2,871 g/t gold with an average of 518.5 g/t gold and median of 135.5 g/t gold.
Mawson continues baseline mapping and compilation of species, habitats and vegetation. Up to five biologists have been collecting baseline data for plants, birds and fauna for ongoing environmental studies over the summer period. After 3 years of detailed biological studies, the Company is now well positioned to complete Natura Assessment for the entire 16,380 hectares of granted exploration permits and application areas.
Technical and Environmental Background
The qualified person for Mawson's Finnish projects, Mr Michael Hudson, President & CEO for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rompas and Rajapalot gold projects in Finland.
On behalf of the Board,
Michael Hudson, President & CEO
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: aim, believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, capital and other costs varying significantly from estimates, timing and the successful completion of the Company's proposed drill programs, changes in world metal markets, changes in equity markets, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
SOURCE Mawson Resources Ltd.
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