VANCOUVER, March 25 /CNW/ - Mawson Resources Limited ("Mawson") TSX -
MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, announces the
staking of the Mustamaa uranium claim application in the Tervola district of
Northern Finland. The Mustamaa 1 claim application is approximately
100 hectares in size.
Uranium mineralization was first discovered at Mustamaa in 1978 by
Rautaruukki Oy, during the ground follow up of a regional airborne radiometric
survey. Rautaruukki Oy completed detailed outcrop and boulder mapping, applied
various geophysical methodologies and assayed 26 radiometric boulders ranging
from 0.01% uranium oxide ("U(3)O8") to 0.26% U(3)O8 and 0.7% phosphate
("P(2)O5) and 22.6% P(2)O5 and averaging 0.065 % U(3)O8 and 7.0% P(2)O5.
In 1979, Rautaruukki Oy identified a uranium mineralized horizon, which
was drill tested with 13 diamond drill holes. Holes were spaced along a
500 metre strike and intersected a uranium horizon which remains open both
along strike and at depth. Mawson has access to all previous publicly
available exploration data and drill core from the Geological Survey of
Finland and Outokumpu Oy. Better drill intersections included:
- R13: 55.4m @ 0.03% U(3)O(8) from 104m, including 4.1m @ 0.08%
U(3)O(8) from 120m; and
- R10: 18.1m @ 0.03% U(3)O(8) from 65m, including 8.4m @ 0.04%
U(3)O(8) from 73m
Uranium at Mustamaa is locally hosted by a breccia unit. The breccia is
contained within +500 metre long and up to 40 metre wide apatite bearing
dolomite horizon. Mineralization is developed both within dolomite, and
intercalated chlorite schist. The style of uranium mineralization is similar
to Mawson's 100% owned Nuottijdrvi 1 claim application, located 260 kilomtres
to the south east.
Mr Hudson states, "Our new Mustamaa claim application in Finland, known
to host uranium mineralisation over broad intervals and strike extents, again
strengthens our position in uranium exploration in the Nordic region. We look
forward to the granting of this and our other Finnish projects so we can
advance exploration of these exciting properties."
Finland is a politically stable country with an excellent infrastructure
and an established and diverse mining industry. Governmental uranium
exploration began in the 1950's and continued until the mid 1980's. The
Finnish government is presently expanding its nuclear energy production by
building the world's largest nuclear reactor at Olkiluoto. Four nuclear power
plants are currently in operation and nuclear power accounts for 26% of
electricity in Finland. Finland imports all of its uranium required for its
The qualified person for the Mustamaa 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. It is
not yet possible to make a conclusive statement defining true widths in the
reported down-hole intercepts.
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.
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: