VANCOUVER, Sept. 24 /CNW/ - Mawson Resources Limited ("Mawson")
TSXv - MAW; Frankfurt - MRY. Michael Hudson, President & CEO, reports that the
Company has submitted a claim application over the historic Cabra Baja uranium
mine in southwestern Spain. The project is located in the Olivera de la
Frontera district within the province of Extremadura, 120 kilometres from
Mawson's Don Benito uranium project. The historic uranium mine is contained
within the Company's 100% owned Cabra Baja-1 claim application (Permiso de
Investigacisn), consisting of 8,561 hectares.
The deposit lies within a regional structural breccia developed within a
Silurian carbonaceous shale sequence. The breccia consists of quartz and
limonite with aplitic dykes and clasts. Tourmaline alteration is commonly
developed within shale units, and hematite alteration within the aplite dykes.
The breccia structure is up to 200 metres wide and 3500 metres long, within
which higher grade uranium zones are noted to vary from 15 - 75 metres width.
Cabra Baja is mineralogically unique on the Iberian Peninsula due to the
presence of davidite, a primary oxide of uranium and titanium, with elevated
chromium, vanadium and rare earth elements. This primary mineralogy suggests
Cabra Baja may have more depth potential than other uranium deposits in Spain,
where economic mineralization typically forms as a result of the secondary
upgrading of uranium oxides during weathering.
The prospect was explored and mined in the 1960's by the Junta Energia
Nuclear ("JEN"). Various exploration activities were undertaken in this
period, including 680 metres of diamond drilling, 2,474 metres of open hole
drilling and 42 metres of horizontal percussion drilling. The deposit was
superficially mined by trenching, pitting and shallow underground development.
It is estimated that 65,000 tonnes of rock was mined with a grade of 0.15%
uranium. The Company has access to past exploration data and is currently
compiling the available information to determine the potential for the system
to continue at depth and along strike.
Mr Hudson states, "This is the second historic mine in Mawson's Spanish
uranium portfolio and we look forward to revealing its full potential as we
compile the extensive historic database from Cabra Baja. Given the extensive
3.5 kilometre long mineralized structure, combined with the high grades of
uranium encountered at or near surface, we believe significant scope exists to
expand the historic Cabra Baja mine along strike and at depth. Work also
continues on the compilation of the nearby Don Benito historic resource.
Further results on these two past producing areas will be presented as they
The qualified person for the Cabra Baja project, 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
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. 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 Relations Consultants - Mining
Interactive, Nick Nicolaas, (604) 657-4058; Wayne Melvin, (604) 619-6327,