VANCOUVER, Oct. 25, 2016 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces results from 225 base-of-till ("BOT") drill holes from the Rajapalot prospect at the 100% owned Rompas-Rajapalot project in Northern Finland. The drill area was located 1.5 to 3.0 kilometres east of the Palokas prospect (Figure 1) where earlier diamond drill results include 5.4m @ 37.6g/t Au from 2.5 m and 19.3m @ 7.4g/t Au from 1.3m (true thickness of mineralized intervals is interpreted to be approximately 90% of the sampled thickness).
- Base-of-till ("BOT") drilling at the Rajapalot prospect has defined eight gold target areas for follow-up. A total of 225 BOT holes were drilled over an area of 2.3 km by 1.4 km on a 150m grid pattern;
- Follow-up infill BOT drilling on six of these target areas has already commenced with an additional 206 drill holes planned at 25m centres along anomalous drill traverses defined from the first program;
- Untested surface targets interpreted to be the extension of mineralization at Palokas were the focus for the BOT grid program. Anomalous surface geochemistry in the area included 23 boulders and subcrop grab samples >0.1 g/t gold that ranged 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. Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
Mr Hudson, Chairman & CEO states, "This first systematic drill test of the area met our aims to define geochemically anomalous areas beneath thin glacial till, that covers 99% of the area, with eight anomalous zones defined over a large area of 2.3 km by 1.4 km. We have already commenced follow-up infill BOT drilling and are looking to progress to deeper diamond drilling for target testing. As the drill area lies outside Natura 2000 areas, drilling can be undertaken all year, rather than be limited to winter drilling from mid-December to mid-April."
Areas of geochemical anomalism for follow-up were based on multi-element Au, Te, Cu and Bi results, and normalized to sample type (weathered bedrock and till varieties) as well as geological observations, including the presence of hydrothermal alteration minerals. Till depth varied between 0.55 and 13.3 metres. Four different sample types were described from the drilling data: glacial till (20% of all total samples), weathered bedrock (55%), diamict or reworked till (20%) and reworked and transported sand (5%). Drill chip assays ranged from below detection up to 0.183 g/t gold. Drilling took place over an area of 2.6 km x 1.8 km on Mawson's recently granted exploration permit at Hirvimaa and within an area covered by a landholder permit.
The qualified person for Mawson's Finnish projects, Mr Michael Hudson, Chairman and CEO for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.
Samples were transported by Mawson personnel from site to Rovaniemi for logging and then submitted via commercial transport to ALS Chemex Ltd's laboratory in Sodankyla, Finland where the samples were prepared and sent to ALS Chemex Ltd's laboratory in Galway, Ireland to be analyzed by ICP-21 method (Au) and MS41 method (remaining elements). The QA/QC program of Mawson consists of the systematic insertion of duplicates and certified standards of known gold content. In addition, ALS Chemex inserts a number of blanks and standards into the analytical process.
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,
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.
Image with caption: "Figure 1: Plan view of the Rajapalot area, Finland showing Au-W surface till (image), mineralized surface samples (orange squares), BOT drill areas (pink dots – 150m grid and blue dots – 25m infill holes) and surface sampling gold anomalous areas. True thickness of drilled mineralized intervals is interpreted to be approximately 90% of the sampled thickness. (CNW Group/Mawson Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20161025_C8103_PHOTO_EN_803287.jpg
For further information: www.mawsonresources.com, 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Mariana Bermudez, Corporate Secretary, +1 (604) 685 9316, [email protected]