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Re: News Release - Monday, June 07, 2010
Mawson Reports Bonanza Gold with High Grade Uranium at Rompas,
Finland
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Includes Up To 12,800 g/t (373 oz/ton) Gold And 43.6% Uranium From
Surface Grab Sampling
Vancouver, Canada - Mawson Resources Limited ("Mawson") TSX - MAW;
Frankfurt - MRY. Mr Michael Hudson, President & CEO, is pleased to
report bonanza-grade gold and uranium results from surface sampling at
the 100% owned Rompas project, recently acquired from AREVA NC
("AREVA") in Finland.
Rompas is a new gold and uranium discovery made by AREVA in 2008 and is
secured by 11,870 hectares of claim applications. Bonanza grade gold
and uranium mineralization has been discovered at surface over an area
exceeding 6km in strike and 200m in width. From samples selected for
assay, results include values up to 12,800 g/t gold and 43.6% uranium
and are outlined in Table 1 below:
Table 1: Summary of Areva and Mawson Surface Grab Sampling at Rompas,
oz/ton = troy ounce per short ton;
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Areva Mawson Areva Mawson
Gold (g/t) Gold (g/t) Uranium (ppm) Uranium (ppm)
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Average 1,146 224 27,292 36,088
(33.4 oz/ton) (6.5 oz/ton) (2.7%) (3.6%)
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Maximum 12,800 1,830 249,000 435,500
(373.3 oz/ton) (53.4 oz/ton) (24.9%) (43.6%)
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Minimum 0.1 0.01 13 2
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Number of
Samples 20 21 20 21
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AREVA selected 20 samples for assay from 150 radiometrically anomalous
sites discovered to date at Rompas over a NNW-SSE trending area 6km
long by 200m wide. During due diligence, Mawson collected 21 bedrock
samples from two zones, the first area 400m X 100m and the second area
120m X 50m in size within a 5km strike trend (Table 1). Rocks
collected by both companies for assay were grab samples taken from
outcropping rock. Grab samples are selective by nature and are
unlikely to represent average grades on the property. As is typical for
Northern Finland, outcrop in the project area is not common. To date,
no systematic channel sampling across structures has been undertaken.
Of significance, some samples assayed high gold without elevated
uranium, providing scope for the discovery of gold-only mineralization.
Mineralization continues at the extremities of the 6km trend under
glacial soil cover.
Mineralization appears to be hydrothermal in nature and
fracture-controlled, hosted mainly by metavolcanics which may in part
be skarnified and/or hornfelsed. Uranium is found in the form of
uraninite. Native gold and uraninite are generally identified at
surface in limonitic fractures within metavolcanic host rocks.
Mr Hudson states, "Rompas is an exciting new gold and uranium discovery
made by AREVA in Finland, now 100% owned by Mawson. This flagship
project clearly defines Mawson's status as a gold and uranium explorer.
To find such high gold and uranium grades at surface in an area with
no previous exploration or drilling provides Mawson with a tremendous
discovery opportunity. The broad extent of high grade samples over 6km
of strike is extremely encouraging. We look forward to a busy and
exciting summer field program in Finland."
Mawson is planning an active 2010 summer field season at Rompas
including geological mapping, geochemical sampling and airborne
geophysics. Full details of the program will be released shortly. The
Company will benefit by employing many of AREVA'S geological team
responsible for the initial discoveries. The Rompas project is secured
by claim applications and drilling and trenching will be permitted on
granting of exploration claims. The granting of claims in Finland is
currently slow and Mawson will work with the authorities to facilitate
this process in the shortest possible time. Mawson has already been
working in conjunction with AREVA to engage consultants who shall
provide expert opinion on Natura 2000 areas contained within the
project area. In addition, a NI43-101 technical report is under
preparation and is expected to be finalized and filed shortly.
AREVA is a major shareholder of Mawson, currently holding 11% of the
Company, plus an option to purchase an additional 8% by exercising 4.2
million purchase warrants at $1/share. The portfolio purchased from
AREVA totals 16,156 hectares and doubles Mawson's strong claim position
in Scandinavia. Mawson is compiling information from three other
projects recently acquired from Areva and will release further
information as it becomes available.
The following links for the Rompas project have been posted on Mawson's
website:
- Location of Areva's Finnish Exploration Projects Purchased by
Mawson with Uranium Channel Radiometric Background:
http://www.mawsonresources.com/i/maps/2010-06-01-map1.jpg
- Map of Rompas Project Secured by 11,870 Hectares of Claim
Applications with Aeromagnetic Image Backdrop:
http://www.mawsonresources.com/i/maps/2010-06-01-map2.jpg
A webcast interview of Mr Hudson discussing the Rompas project
is available at
http://snipurl.com/x6qzl
About Mawson Resources Ltd (TSX:MAW, FRANKFURT:MRY, PINKSHEETS:MWSNF)
Mawson Resources Ltd is a natural resource acquisition and development
company with METAL and ENERGY interests.
Mawson has distinguished itself as the leading Scandinavian uranium
exploration company, with advanced projects in Sweden and Finland. As
the European Union moves to reduce its reliance on carbon-based energy
sources and continues to debate energy security, Mawson is well
positioned to provide Europe with the option to fuel its future. Areva
NC holds 11% of the Company and provides Mawson with an active
technical partner.
In addition, the Company is exploring for gold and copper in the highly
prospective Cordillera of Peru, with a focus on a new high grade gold
discovery at Alto Quemado.
With a strong cash position and a multi-jurisdiction European and South
American portfolio, Mawson is ideally positioned to enhance its status
as a leader in the uranium and gold industries.
Shares Outstanding: 42,697,253. Cash: approximately C$9.5 million.
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.
Quality Control. Mawson samples were analyzed by ME-MS81, U-XRF05,
XRF-10, Au-GRA21 and Au-AA25 techniques by ALS Chemex Ltd's
laboratories in Pitea, Sweden and Vancouver, Canada. Areva's samples
were assayed at the Labtium Oy laboratory in Rovaniemi, Finland by
methods 511P and 704P. The results of the duplicate laboratory
analyses appear to be acceptable however no field standards or blanks
were included in the sample stream.
The qualified person for Mawson's Finnish projects, Erkki Vanhanen,
Finnish Exploration Manager for Mawson with a designation of European
Geologist for the European Federation of Geologists (EFG), has reviewed
and verified the contents of this release.
View News Release in PDF Format:
http://www.mawsonresources.com/i/pdf/2010-06-07_NR.pdf
43 KB in size, approx. 9 seconds to download at 56.6Kbps
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Copyright (c) 2010 MAWSON RESOURCES LTD. (MAW) All rights reserved.
For more information visit our website at
http://www.mawsonresources.com or send mailto:info@mawsonresources.com
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Mawson Resources Limited
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DEVELOPMENT STAGE |
CODE : MAW.V |
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 CA$ 94.8 millions as of today (US$ 69.6 millions, € 62.6 millions). Its stock quote reached its lowest recent point on August 02, 2024 at CA$ 0.54, and its highest recent level on August 30, 2024 at CA$ 0.98. Mawson Res. has 105 310 000 shares outstanding. |