VANCOUVER, Aug. 30, 2017 /PRNewswire/
- Mawson Resources Limited ("Mawson") or
(the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF)
announces the Company has been granted the 2,123 hectare Männistö
Exploration Permit at the Rompas-Rajapalot gold project in
Finland. The Männistö permit includes both the Rompas high
grade nuggety gold mineralization and areas prospective for
Rajapalot-style disseminated gold.
The granting is noteworthy, as it allows Mawson to restart
exploration at the Rompas prospect after a 4-year hiatus.
Key Points:
- TUKES (the Finnish Safety and Chemical Agency and Mining
Authority) recently granted the Männistö Exploration Permit to
Mawson that covers 2,123 hectares at the Rompas-Rajapalot gold
project in northern Finland within
the larger 16,162 hectare project of exploration permits and
applications (Figure 1);
- The primary target at Männistö is Rajapalot-style disseminated
gold mineralization that lies stratigraphically adjacent to
previously discovered high grade gold mineralization at
Rompas;
- In 2012, Mawson drilled Finland's richest ever diamond drill hole for
gold at Rompas within the Männistö Exploration Permit area. Results
included:
-
- 6 metres at 617 g/t gold from 7 metres in drill hole
ROM0011; and
- 1 metre @ 114.5 g/t gold from 44.0 metres from drill
hole ROM0014.
- Field mapping, prospecting and 8.1 kilometres of VLFR
geophysical survey have been completed, defining a Rajapalot-style
gold target horizon that extends for 2.5 kilometres, with outcrop
of up to 0.24 g/t gold discovered in poorly outcropping areas
adjacent to the conductive target zone (Figure 2);
- A reverse circulation ("RC") drill rig has now been mobilized
(Figure 3). Twenty shallow holes (5-10 metre) will be drilled
through thin glacial soil to bedrock along 3 lines to test the
Rajapalot-style gold target position. Targets identified will
immediately be followed up with diamond drilling.
Mr. Hudson, Chairman and CEO, states, "The Rompas prospect is
central to Mawson's on-going investment in gold exploration in
northern Finland, being the site
where our team drilled the country's richest ever gold intersection
of 6 metres at 617 g/t gold in 2012. Our recent work
at Rajapalot, where an extensive area of gold disseminated
mineralization has been discovered, has shown the Rajapalot-style
of mineralization lies stratigraphically adjacent to the Rompas
host rocks, in an area of very limited outcrop and no prior
drilling. Drilling close to high grade gold is always
exciting for an exploration team, and we look forward to sharing
the results of this highly anticipated RC drill program."
The principal target at Männistö is Rajapalot-style disseminated
gold mineralization hosted within metasediments that surround the
Rompas vein-hosted gold system. This style includes the
numerous significant drill intersections of the Palokas prospect
which lies 8 kilometres east of Rompas (ie PAL0030: 10.0
metres @ 11.6 g/t gold from 110.2 metres;
PAL0027: 6.8 metres @ 14.7 g/t gold from 34.4
metres and PAL0075: 27.0 metres @ 3.3 g/t
gold see Mawson Press Releases July 05, 2017).
Nuggety gold mineralization at Rompas occurs in deformed
calc-silicate veins hosted within a mafic volcanic, while
disseminated gold mineralization of the Rajapalot-style is
typically hosted within albitic- or Mg-calcsilicate-rich
metasediments.
Field mapping, prospecting and 8.1 kilometres of VLFR
geophysical surveys have been completed over the last 2 months,
which has defined a Rajapalot-style target horizon extending for
2.5 kilometres along strike. VLFR or Very Low Frequency
Resistivity electromagnetics is a ground probing technology that
utilizes VLF signals in the 15 to 30 kHz range. The method is
an inexpensive means to collect high quality bedrock data, and is
having a revival due to both technology improvements and software
developments.
Assay results showed one sample in outcrop adjacent to the
conductive and interpreted target zone to assay 0.24 g/t gold in an
area of predominantly thin glacial soil cover (Figure 1), adding to
the prospectivity of this trend.
Based on the proven effectiveness of grid based RC drill
sampling through the till and bedrock in other areas, the Company
plans to complete systematic RC and base-of-till drilling across
the entire Männistö permit area. In addition, a comprehensive
structural, lithogeochemical and stratigraphic model from the
winter drill program at Rajapalot is under construction with the
support of Dr. Laurent Ailleres
of PGN Geoscience, an expert in the building of 3D
structural-geophysical models, and Dr. Nick
Oliver of Holcombe Coughlin Oliver Valenta Global, a
renowned Proterozoic structural and hydrothermal specialist.
A significant drilling program will resume at Rajapalot in late
2017/early 2018 when winter conditions allow access.
Technical Background
The qualified person for Mawson's Finnish projects, Dr.
Nick Cook, President for Mawson and
Fellow of the Australasian Institute of Mining Metallurgy has
reviewed and verified the contents of this release.
Analytical samples were transported by commercial transport to
ALS Chemex Ltd's laboratories in Sodankylä, Finland. Samples were prepared at Sodankylä
and sent to ALS Loughrea located at Dublin Road, Loughrea,
Co. Galway, Ireland 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.
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.
On behalf of the Board,
"Michael
Hudson"
Michael Hudson, Chairman &
CEO
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, 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, changes in world metal markets,
changes in equity markets, planned drill programs and results
varying from expectations, delays in obtaining results, equipment
failure, unexpected geological conditions, local community
relations, dealings with non-governmental organizations, delays in
operations due to permit grants, 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.
SOURCE Mawson Resources Ltd.
