VANCOUVER, Dec. 5 /CNW/ - Mawson Resources Limited ("Mawson") TSXv - MAW;
Frankfurt - MRY. Michael Hudson, President & CEO, announces the discovery of
the Langvattnet uranium prospect in Northern Sweden. The prospect lies
4.2 kilometres west of Mawson's Klappibacken prospect and is contained within
the Company's 100%-owned Langvattnet nr 1 exploration permit, which forms part
of the contiguous 8,315 hectare Hotagen project area.
At Langvattnet, three areas of uranium mineralization have been
discovered over an area approximately 450m by 200m. The first area consists of
a linear array of mineralized outcrops, while the other two are comprised of
glacial boulder trains.
In outcrop area, mineralization is associated with an east-west trending
fluorite bearing fracture zone, developed in fine grained foliated granite.
The fracture zone has a maximum width of 3 metres and a strike in outcrop of
70 metres. One of the radiometric outcrops has been sampled, which returned a
value of 0.26% U(3)O(8).
The western boulder train lies 150 metres south of the outcrop area and
consists of more than 50 radioactive boulders over an area of approximately
60 metres by 80 metres. A fluorite veined and brecciated granite is the
typical host to uranium mineralization. Ten radiometric boulders have been
analyzed, which returned values ranging from 0.02 to 0.55% U(3)O(8) and
averaged 0.22% U(3)O(8). The boulders are angular, fissile and well clustered,
suggesting they are very proximal to the source outcrop.
The eastern boulder train lies 400 metres west of the outcrop area and is
comprised of at least 60 radioactive boulders over a 75 metre by 50 metre
area. Thirteen radiometric boulders have been analyzed, which returned values
ranging from 0.08 to 1.06% U(3)O(8) and averaged 0.37% U(3)O(8). Uranium
mineralized boulders at this location are fine grained, foliated felsic
intrusive with abundant uranium bearing fluorite veins and breccias, and again
are interpreted to be very close to the bedrock source of the mineralization.
Mr Hudson states, "Langvattnet represents another first-class project in
the Hotagen area with good uranium grades discovered at surface discovered
over a broad area. Our Hotagen project is shaping as one of the most exciting
uranium areas in Northern Europe. More projects will emerge from this area as
we interpret results from our summer field programs. A request for permission
to drill the Langvattnet prospect will be submitted immediately."
At all three sites, the host rock to uranium mineralization is a foliated
to mylonitic granite or fine grained felsic intrusive. Uranium mineralization
consists of pitchblende within fluorite veins or breccias and is geologically
similar to Mawson's Klappibacken uranium prospect. Mawson has completed
geological mapping, geochemical sampling, radon cup surveys, gridded ground
scintillometer measurements and ground magnetics to determine the extent of
the mineralized area and to search for buried mineralization associated with
the boulder trains. There has been no previous drilling within 1.5km of the
Radon cup anomalies lie slightly offset from the locally sourced uranium
mineralized boulders which suggests bedrock mineralization may lie very close
to the boulder trains. The location of mineralized outcrops and boulders
suggest that east-west striking zones of uranium-bearing mylonite and breccia
may exist in the area. The results from ground magnetic and radon cup surveys
support this interpretation.
Uranium was analyzed by the ME-XRF05 technique by ALS Chemex Ltd's
laboratory in Vancouver, Canada, where duplicates, repeats, blanks and known
standards were inserted according to standard industry practice. The qualified
person for the Langvattnet project, Mark Saxon, Mawson's VP-Exploration,
Director and a member of the Australasian Institute of Mining and Metallurgy,
has reviewed and verified the contents of this release.
About the Company: Mawson Resources holds significant uranium resources
in the nuclear energy reliant countries of Spain, Sweden and Finland. As the
European Union reduces its reliance on carbon-based energy sources, Mawson is
well placed as the Company develops its exploration portfolio towards the
sustainable production of uranium in the shortest possible time frame.
On behalf of the Board,
President & CEO
Forward Looking Statement. This news release contains certain
"forward-looking" statements and information relating to the Company that are
based on the beliefs of the Company's management as well as assumptions made
by and information currently available to the Company's management. Such
statements reflect the current risks, uncertainties and assumptions related to
certain factors including, without limitations, competitive factors, general
economic conditions, customer relations, relationships with vendors and
strategic partners, the interest rate environment, governmental regulation and
supervision, seasonality, technological change, changes in industry practices,
and one-time events. Should any one or more of these risks or uncertainties
materialize, or should any underlying assumptions prove incorrect, actual
results may vary materially from those described herein. Neither the TSX
Venture Exchange nor the Frankfurt Deutsche Borse have reviewed the
information contained herein and, therefore, do not accept responsibility for
the adequacy or accuracy of this news release.
For further information:
For further information: Investor Information: www.mawsonresources.com,
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Company Contact: Mariana
Bermudez, (604) 685-9316; Investor Relation Consultants - Mining Interactive,
Nick Nicolaas, (604) 657-4058; Wayne Melvin, (604) 619-6327, Email: