VANCOUVER, Aug. 31 /CNW/ - Mawson Resources Limited ("Mawson") TSX - MAW;
Frankfurt - MRY Vancouver: Mr. Michael Hudson, President & CEO, announces the
submittal of work plans to the Swedish authorities requesting permission to
drill 4 uranium prospects at the Hotagen uranium project in Sweden. Four
hundred (400) shallow diamond drill holes are proposed to test bedrock for
strike extensions of uranium mineralization at known prospects beneath thin
soil cover. The drill program is planned to commence in early December 2009.
The four project areas to be drill tested are located within 4 kilometres
of each other and are described below:
- Kläppibäcken North: Extending a previous drill grid 1100 metres north
of Mawson's NI 43-101 compliant indicated resource of 3.3Mlb @
0.08% U(3)O(8). The new drilling will test a magnetic anomaly which
is interpreted to be the source of a uranium mineralized diabase
boulder train, consisting of 40 boulders over an area of 100 metres
by 25 metres. Five boulders were assayed by the Swedish Geological
Survey ("SGU") in 1974 and ranged from 0.10% U(3)O(8) and 0.74%
U(3)O(8) and averaged 0.52% U(3)O(8).
- Nöjdfjället North: Targeting the immediate strike extensions
300 metres from a NI-43-101 indicated resource held by a third party
(0.85Mlb @ 0.08% U(3)O(8)).
- Ravinen: Targeting the source of a 150m long boulder train discovered
by the SGU in 1974. This is the first public disclosure of the
Ravinen prospect, comprised of more than 100 boulders. Historic
assays ranged between 0.003% U(3)O(8) and 1.35% U(3)O(8) and averaged
0.47% U(3)O(8). Mineralization is generally hosted in mylonitic
granite, similar to resource-status projects in the area. Boulders
appear to be very near to their original bedrock source.
- Urban Hill: Drill testing a new high grade discovery recently made by
Mawson. This program will test the strike extensions of four high
grade mineralized outcrops in a 150 metre by 20 metre area where
assays ranged from 0.04% eU(3)O(8) to 2.90% eU(3)O(8) and averaged
1.13% eU(3)O(8), and a soil covered area which measures 2 -10 times
the background radioactivity in an area of 10 metres by 3 metres.
In addition to this near-surface program where holes should average 5
metres depth, Mawson also plans a substantial diamond drilling program to
extend the Kläppibäcken resources down to 250 metres vertical depth and along
strike, as well as following up anomalies defined from the near-surface
drilling described above. Further information regarding these programs will be
released as they become available.
Mr Hudson states, "Mawson's geological team have been busy collecting and
interpreting detailed new information from the Hotagen uranium district,
enabling us to prioritize the most high prospective sites from 21 separate
project areas that have already been defined. We are extremely positive about
the prospectivity of this region and look forward to drill testing these four
projects to maintain the momentum of discovery in this exciting area."
Field assays ("eU(3)O(8)") were undertaken using a calibrated RS-230 BGO
spectrometer, operated by Mawson staff. The qualified person for the Mawson's
uranium projects, Mark Saxon, director and vice-president of exploration for
Mawson, and a member of the Australasian Institute of Mining and Metallurgy,
has reviewed and verified the contents of this release.
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.
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, Email: email@example.com