 | | | Published : March 16th, 2015 | Mawson Extends Palokas Gold Prospect, Finland |
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March 16, 2015
Mawson Extends Palokas Gold Prospect, Finland
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Vancouver, Canada -- Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces the results of recently completed 3D induced polarization "IP" and shallow Diamond drilling programs and outlines upcoming work plans for the Palokas prospect in Lapland, Arctic Finland.
Key Points:
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A 600 metre long conductive anomaly (Figures 1 and 2) has been defined by a pseudo-3D pole-dipole IP and resistivity survey at Palokas Prospect extending down plunge from drilled near-surface gold mineralization (ie 19.5 metres @ 7.4 g/t gold from 1.3 metres depth (see Mawson Press Releases October 03, 2013, October 16, 2013 and January 20, 2014);
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The thickness of the conductive body increases with depth and is open below the 250 metre investigative depth of the survey;
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Final results from near-surface investigative drilling has returned results including 0.3m @ 49.6 g/t Au from 17.7 metres in drillhole PRAJ0097 located 1000 metres from the Palokas prospect (Figure 3). Results from recent drilling are located above the conductive body defined by the 3D-IP program;
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The Company has purchased and will take delivery this week, of a hand portable Winkie Diamond drill to extend its drill depth capacity from 40 metres down to 120 metres. Drilling with the Winkie rig, which remains subject to final permitting, is planned to commence at Palokas in April, to test below known gold mineralization.
Mr Michael Hudson, President & CEO states, "The geophysical results reported present a compelling target down plunge from known mineralization at the Palokas gold project. Our new hand portable rig with extra depth capacity will advance our understanding of the 1.2km long Palokas mineralized system below the 30 metres depth we have tested to date. Subject to final permitting, we will start drilling in April."
The IP area surveyed commenced more than 250 metres north of Palokas to 500 metres south of the Palokas prospect. Gold at Palokas is associated with pyrrhotite which forms the conductive and chargeable anomaly associated with drilled gold mineralization and has been confirmed by petrophysics. The thickness of the conductive body increases with depth and is open below the 250 metre investigative depth of the survey. The body plunges south and has little or no surface expression where recent near-surface drilling has provided near-miss and thinner mineralized gold hits.
The recently completed hand portable drill program consisted of 33 holes for 1160.5 metres with an average hole depth of 35.1 metres. Four additional holes did not drill through to basement. The final ten drill holes are reported here and shown in Tables 1 and 2. The best results from the final ten holes include 0.3m @ 49.6 g/t Au from 17.65m in PRAJ0097, 1.15m @ 1.49 g/t Au from 8.3m in PRAJ0099 and 2.2m @ 1.73 g/t Au from 18.75m in PRAJ0105. These results are considered to form up dip from gold mineralization and represent near miss signatures. This is supported by the recent 3D IP geophysical survey.
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.
Technical Background
The core sampling was undertaken by Mawson Staff who provided EW (25.2 mm) diameter core. Core recoveries were excellent and average close to 100% in fresh rock. After photographing and logging, core intervals averaging 1 metre in length were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. These half-core one metre samples weigh less than 0.7 kilograms. The remaining half core is retained on site for verification and reference purposes. Analytical samples were transported either commercial transport, or by Mawson personnel from site to ALS Chemex Ltd's laboratory in Piteå, Sweden. Samples were prepared at Piteå and sent to ALS Chemex Ltd's laboratory in Vancouver, Canada to be analyzed by Au-ICP21, GRA-21, ME-MS41u and ME-MS61u techniques. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, with blanks at the beginning of each batch. In addition, ALS Chemex inserts a number of blanks and standards into the analytical process.
The qualified person for Mawson's Finnish projects, Mr Michael Hudson, President & CEO for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, President & CEO
Investor Information
www.mawsonresources.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Seema Sindwani +1 647-478-3017
Mariana Bermudez +1 604-685-9316
Email: [email protected]
Forward Looking Statement
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, including statements regarding anticipated exploration activities and the intended financing 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: 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, equipment failure, unexpected geological conditions, permitting, operational delays, 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.
Figure 1: 3D IP resistivity Shells (2.0 to 2.5 (log[Ohm-m]) from Palokas to South Palokas showing 600 metre strike length low resistive/conductor. Conductor correlates with drilling at Palokas and plunges below drilling at South Palokas.
Figure 2: Longitudinal section showing apparent resistivity from Palokas to South Palokas showing 600 metre strike length low resistive/conductor. Conductor correlates with drilling at Palokas and plunges below drilling at South Palokas.
Figure 3: Rajapalot Gold Project, Palokas Prospect: Update on hand-portable drill results 15:3:2015.
Table 1: Collar Information from the hand portable, low impact drill rig from the Palokas Prospect, Rajapalot, Finland.
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HoleID
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Easting
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Northing
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Total Depth (m)
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Dip
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Azimuth
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Date Reported
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PRAJ0070
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3408517
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7373548
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33.4
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-60
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115
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October 07, 2014
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PRAJ0071
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3408506
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7373549
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43.2
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-60
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115
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October 07, 2014
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PRAJ0072
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3408528
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7373536
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27.55
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-60
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115
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October 07, 2014
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PRAJ0073
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3408542
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7373530
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15.8
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-60
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115
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October 07, 2014
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PRAJ0074
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3408493
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7373506
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26.55
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-60
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155
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October 07, 2014
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PRAJ0075
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3408486
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7373517
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28.27
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-82
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155
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October 07, 2014
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PRAJ0076
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3408156
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7372824
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33.45
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-60
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59
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October 07, 2014
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PRAJ0077
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3408168
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7372831
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35
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-60
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60
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December 16, 2014
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PRAJ0078
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3408173
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7372822
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21.05
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-60
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115
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December 16, 2014
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PRAJ0079
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3408160
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7372818
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23
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-60
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90
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December 16, 2014
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PRAJ0080
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3408261
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7372792
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40.4
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-60
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115
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December 16, 2014
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PRAJ0081
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3408241
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7372787
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41.4
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-60
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115
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December 16, 2014
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PRAJ0082
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3408268
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7372777
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40.75
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-60
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115
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December 16, 2014
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PRAJ0083
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3408314
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7372378
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33.2
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-60
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115
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December 16, 2014
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PRAJ0084
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3408233
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7372360
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15.2
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-60
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115
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December 16, 2014
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PRAJ0085
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3408389
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7372277
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43.4
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-60
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60
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December 16, 2014
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PRAJ0086
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3408452
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7372339
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32.55
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-60
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20
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December 16, 2014
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PRAJ0087
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3408852
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7372282
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8.85
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-60
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115
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DID NOT REACH BASEMENT
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PRAJ0088
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3408815
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7372268
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4.95
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-60
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115
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DID NOT REACH BASEMENT
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PRAJ0089
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3408815
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7372268
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5.7
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-80
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115
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DID NOT REACH BASEMENT
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PRAJ0090
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3408818
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7372227
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43.34
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-60
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90
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Here
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PRAJ0091
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3408840
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7372188
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37.4
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-60
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115
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December 16, 2014
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PRAJ0092
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3408145
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7373053
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35.46
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-60
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115
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December 16, 2014
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PRAJ0093
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3408131
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7373059
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40.95
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-60
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115
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December 16, 2014
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PRAJ0094
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3408127
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7373079
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36.64
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-60
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180
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Here
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PRAJ0095
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3408255
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7373122
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8.4
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-60
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135
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DID NOT REACH BASEMENT
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PRAJ0096
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3408116
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7372969
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31.4
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-60
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115
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December 16, 2014
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PRAJ0097
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3408107
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7372978
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37.35
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-60
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170
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Here
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PRAJ0098
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3408442
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7373471
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27.65
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-60
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160
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Here
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PRAJ0099
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3408435
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7373485
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34.95
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-60
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160
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Here
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PRAJ0100
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3408427
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7373499
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31
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-60
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160
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Here
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PRAJ0101
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3408419
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7373516
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48
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-60
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160
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Here
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PRAJ0102
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3408415
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7373536
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48.05
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-60
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160
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Here
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PRAJ0103
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3408401
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7373553
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49.7
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-60
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160
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Here
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PRAJ0104
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3408466
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7373511
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32.2
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-60
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115
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Here
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PRAJ0105
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3408447
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7373519
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46.55
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-60
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115
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Here
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PRAJ0106
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3408430
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7373528
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45.7
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-60
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115
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Here
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Table 2: Assay data from the hand portable, low impact drill rig from the Palokas Prospect, Rajapalot, Finland.
A lower cut of 0.5 g/t over 1 metre was applied.
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HOLE ID
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Summary Result
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Comment
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Date Reported
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PRAJ0070
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2m @ 9.1 g/t Au from 25.4m
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28 Oct 2014
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PRAJ0071
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1.75m @ 1 g/t Au from 34.7m
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28 Oct 2014
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PRAJ0072
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1.0m @ 14.8 g/t Au from 16.3m
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28 Oct 2014
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PRAJ0073
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3.0m @ 5.1 g/t Au from 8.65m
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28 Oct 2014
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PRAJ0073
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1.0m @ 0.5 g/t Au from 12.75m
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28 Oct 2014
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PRAJ0075
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3.0m @ 2.8 g/t Au from 14.4m
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28 Oct 2014
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PRAJ0075
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1.0m @ 0.5 g/t Au from 20.95m
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28 Oct 2014
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PRAJ0075
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1.0m @ 1.3 g/t Au from 22.95m
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Stopped in mineralization
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28 Oct 2014
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PRAJ0076
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3.9m @ 3.2 g/t Au from 23m
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Visible gold at 24.2m
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December 16, 2014
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PRAJ0080
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1.0m @ 1.3 g/t Au from 10m
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December 16, 2014
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PRAJ0080
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3.4m @ 2 g/t Au from 14m
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December 16, 2014
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PRAJ0080
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3.0m @ 1.4 g/t Au from 35.9m
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Stopped in mineralization
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December 16, 2014
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PRAJ0081
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1.0m @ 0.6 g/t Au from 2.65m
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December 16, 2014
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PRAJ0081
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0.9m @ 1.8 g/t Au from 21.55m
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December 16, 2014
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PRAJ0082
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1.0m @ 0.8 g/t Au from 5m
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December 16, 2014
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PRAJ0082
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1.0m @ 0.7 g/t Au from 9m
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December 16, 2014
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PRAJ0082
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1.0m @ 0.5 g/t Au from 21.2m
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December 16, 2014
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PRAJ0096
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1.1m @ 1.5 g/t Au from 17.5m
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December 16, 2014
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PRAJ0096
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0.4m @ 3 g/t Au from 20.9m
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December 16, 2014
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PRAJ0097
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0.3m @ 49.6 g/t Au from 17.65m
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Here
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PRAJ0099
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0.9m @ 0.69 g/t Au from 6.5m
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Here
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PRAJ0099
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1.2m @ 1.49 g/t Au from 8.3m
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Here
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PRAJ0099
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0.4m @ 0.75 g/t Au from 11.35m
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Here
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PRAJ0099
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0.8m @ 0.73 g/t Au from 19.55m
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Here
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PRAJ0100
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0.9m @ 1.06 g/t Au from 21.75m
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Here
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PRAJ0101
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0.8m @ 0.78 g/t Au from 33.75m
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Here
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PRAJ0104
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1.2m @ 1.41 g/t Au from 4.5m
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Here
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PRAJ0104
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1.0m @ 1.1 g/t Au from 7.5m
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Here
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PRAJ0105
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2.2m @ 1.73 g/t Au from 18.75m
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Here
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PRAJ0106
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2.0m @ 0.99 g/t Au from 13.15m
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Here
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PRAJ0106
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1.1m @ 1.54 g/t Au from 35.95
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Here
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View News Release in PDF Format:
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You can view the Previous News Releases item: Tue Jan 13, 2015, Mawson Completes Geophysical Survey at the Palokas Gold Prospect in Finland
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VanEck Vectors Global Alternative Energy ETF
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DEVELOPMENT STAGE |
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CODE : MAW.V |
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ISIN : CA57776G1063 |
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ProfileMarket
IndicatorsVALUE :
Projects & res.Press
releasesAnnual
reportRISK :
Asset profileContact Cpy |
Mawson Res. is a gold and uranium exploration company based in Canada. Mawson Res. holds various exploration projects in Peru and in Sweden. Its main asset in development is FLISTJARN in Sweden and its main exploration properties are NUOTTIJÄRVI URANIUM PROJECT and ROMPAS in Finland, STENSJÖDALEN URANIUM PROJECT, SJAULE URANIUM PROJECT, LÅNGVATTNET URANIUM PROJECT, ÅSNEBOGRUVAN URANIUM PROJECT, NORR DÖTTERN URANIUM PROJECT, PRÄSTRUN URANIUM PROJECT, TRESJÖARNA URANIUM PROJECT, TÅSJÖ, DUOBBLON URANIUM PROJECT and KLÄPPIBÄCKEN in Sweden, DON BENITO in Spain and ALTO QUEMADO in Peru. Mawson Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is 45.1 millions as of today (US$ 33.2 millions, € 29.7 millions). Its stock quote reached its lowest recent point on August 02, 2024 at 0.54, and its highest recent level on August 30, 2024 at 0.98. Mawson Res. has 47 442 200 shares outstanding. |
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| 10/7/2014 | Mawson Resources Limited - First high grade gold shallow dri... |
| 2/18/2014 | Continues to Expand Mineralization Along Trend at Rajapalot,... |
| 1/20/2014 | Intersects 19.0 Metres At 2.3 G/T Gold At Palokas, Finland |
| 10/3/2013 | Drills 9 Metres at 10.2 g/t Gold at Palokas, Finland |
| 9/18/2013 | (Rompas)Announces Restart of Diamond Drilling at Rompas, Finland |
| 4/3/2013 | (Rompas)Drills 0.5 Metres At 148 G/T Gold Uncut At South Rompas, Fin... |
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| 4/7/2015 | Recommences Drilling at the Palokas Gold Prospect, Finland |
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| 2/4/2013 | announces appointment of VP Exploration |
| 1/24/2013 | Announces Results of AGM |
| 10/29/2012 | Grab Samples Up To 2,817g/T Gold At Rajapalot, Finland |
| 10/17/2012 | (Rompas)Rompas Claims Gain Legal Force In Finland |
| 8/20/2012 | (Rompas)Announces Final Phase 1 Drill Results And Updates Summer Ex... |
| 5/2/2012 | Spin-Out Darwin Resources Begins Trading on the TSX Venture ... |
| 4/30/2012 | and Darwin Complete Statutory Plan of Arrangement |
| 4/24/2012 | On Listing Of The Common Shares Of Darwin Resources Corp. |
| 4/12/2012 | on Plan of Arrangement With Darwin Resources Corp. |
| 4/9/2012 | (Rompas)Mobilizes Second Rig To Rompas In Finland |
| 4/2/2012 | Shareholders Of Mawson Approve Plan Of Arrangement With Darw... |
| 3/1/2012 | Provides Update On Reorganization Completes Sale Of Subsidia... |
| 2/10/2012 | (Rompas)Gains Permission To Drill At Rompas |
| 12/28/2011 | Provides Update on Transaction with Tournigan Energy Ltd. |
| 12/7/2011 | to Exchange Scandinavian Uranium Assets for Shares |
| 12/2/2011 | (Rompas)s Permit Status at Rompas in Finland |
| 10/14/2011 | Postpones Date of Annual Meeting of Shareholders |
| 9/20/2011 | intersects 11.3 metres at 0.68% U3O8 at Riutta in Finland |
| 9/6/2011 | Clarifies Disclosure |
| 8/23/2011 | s Work Programs in Finland |
| 7/7/2011 | (Alto Quemado)Outlines a C$750,000 Program at Alto Quemado in Peru |
| 7/22/2010 | Outlines Summer Work Programs At The Rompas Gold Uranium Dis... |
| 10/9/2007 | Obtains Permission to Drill at Klappibacken Uranium Project |
| 9/4/2007 | - 1st Quarter Financial Year 2007/08 Update - Drilling and C... |
| 6/2/2007 | Stakes 2.9 Million Pound Historic Uranium Resource in Finlan... |
| 5/10/2007 | ACQUIRES NEW URANIUM PROJECTS IN SALAMANCA, SPAIN |
| 5/10/2007 | acquires new uranium projects in Salamanca, Spain |
| 3/26/2007 | STARTS DRILLING AT KLAPPIBACKEN URANIUM PROJECT |
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