VANCOUVER, March 27 /CNW/ - Mawson Resources Limited ("Mawson") TSX -
MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, provides an update
on drilling activity at Mawson's uranium properties in Sweden. Currently three
drill rigs remain operating at three project areas. These programs will
continue until the spring thaw in mid to late April.
At Klappibacken one drill rig remains on site. With up to three drill
rigs at the site over the last few months, 23 holes for 4,450 metres have now
been completed. Analytical results for only 6 drill holes have been received
and reported, including 12.1m for 0.44% U(3)O(8) from 261.9m reported on
3 March 2008 in drill hole KLADD0807. Further analyses will be reported as
they become available.
At Tasjo, one drill rig is testing the uranium mineralized sedimentary
horizon at the Bodkullarna and Onbacken prospects, located 6 kilometres to the
north east and 8 kilometres south west of the Kronotorpet prospect
respectively, where a 53 drill hole program was completed in 2007. Twenty-one
holes for 927 metres have been drilled to date. The uranium mineralized
horizon has been intersected in most drill holes, however analytical results
have not yet been received.
Drilling has recently commenced at the Norr Dottern uranium project in
Northern Sweden, where Mawson's joint venture partner Hodges Resources Ltd is
earning a 51% interest by spending AUD$1 million over 4 years. Six holes for
590 metres have been planned. High surface radioactivity targets at the Ostra
Jarntjarnbacken prospect are the subject of the current program, where uranium
mineralized boulders and outcrop were discovered in 2007. No previous bedrock
drilling has been completed at the prospect.
Drilling by Mawson joint venture partner, Independence Group NL, at the
Storbodsund nickel project has been completed. A total of 206 metres were
completed in 2 drill holes. Both holes intersected sulphide bearing rock
consistent with the EM geophysical features that were the target of drilling.
Analytical results are awaited.
Mr Hudson states, "After an active winter field season in Sweden, with up
to 5 drill rigs operating concurrently, many drill results are awaited.
Importantly, three drill rigs remain operating at three different projects."
The qualified person for Mawson's Swedish projects, 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,
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; Wayne Melvin, (604) 619-6327, Email: