VANCOUVER, Oct. 11, 2017 /PRNewswire/
- Mawson Resources Limited ("Mawson") or
(the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF)
announces the discovery of a new trend of high-grade gold
mineralization in outcrop, located 500 metres east of Rompas.
Key Points:
- Summer fieldwork has located a series of high grade outcrops
with a 750 metre-long strike length, approximately 500 metres east
of the Rompas trend;
- A total of 50 samples have been collected from outcrops over
750 metre strike from which gold grades range from <0.05 g/t
gold to 851 g/t gold, with an average of 21.6 g/t gold. Samples
are outcrop grab samples, which are selective by nature and are
unlikely to represent average grades on the property;
- Fieldwork continues in the area, with mini-drill sampling,
rockchip sampling and geological mapping ongoing. Geophysical
surveys are planned to commence immediately with electromagnetic
geophysics (VLF-R) and ground magnetics to be undertaken. Diamond
drilling is planned for November-December;
- The area is fully permitted for diamond drilling within the
recently permitted Männistö exploration permit area.
Mr Hudson, Chairman & CEO states, "The under-explored
greenstone belts of Northern
Finland present one of the most exciting global gold
exploration opportunities of recent years, and Mawson's long
experience in the region is paying dividends. The discovery is
a credit to our increased geological understanding of the project,
as well as the gold prospectivity of our large, district-scale, 100
sq km mineral system under Mawson's tenure. Although this is
early days at East Rompas, we are encouraged by the grade, style
and strike length of the discovery. With new gold discoveries in
outcrop and permits already in place, we can quickly move to drill
testing this new discovery area while we plan for a large winter
drill program at Rajapalot, located 8 kilometers east, commencing
in January 2018."
A total of 50 samples were taken from surface outcrops within a
750 metres by 50 metres area at East Rompas. Gold grades
range from <0.05 g/t gold to 851 g/t gold, with an average of
21.6 g/t gold (Figures 1 and 2). Samples are outcrop grab
samples, which are selective by nature and are unlikely to
represent average grades on the property. The discovery zone
is located approximately 500 metres east of the 6 kilometre long
Rompas high-grade veins system (6 metres @ 617 g/t in drill hole
ROM0011) in Mawson's 100% owned Rompas-Rajapalot project in
Northern Finland. The area was
prioritized through recent re-interpretation of the regional
stratigraphy, including the understanding that disseminated gold
occurrences of the Rajapalot-style lie stratigraphically adjacent
to the high grade Rompas-style gold vein mineralization. The area
is fully permitted for diamond drilling and is located outside
Natura 2000 areas, within the recently permitted Männistö
exploration permit area.
Gold mineralization in these newly discovered outcrops is
hydrothermal, fracture controlled and associated with strongly
biotite-altered mafic rocks, believed similar to the Joki discovery
at Rajapalot. Most of the fracture-controlled gold mineralization
discovered to date occurs in strongly hydrothermally
biotite-altered mafic rocks within a 750 metres long zone (Photos 1
and 2). The width of the occurrence is uncertain, but is at least
20 metres. Outcrop is poor and forms less than 5% of the
area. In the northern part of the discovery area, alteration
is concentrated close to the eastern contact towards
metasediment/mafic contact. The biotite alteration appears to be a
younger event than the amphibolite-facies foliations developed in
most of the adjacent rocks. The mafic rocks are variably magnetic
and are hosted within calcsilicate and quartz-rich rocks. Geologic
mapping of the zone continues, accompanied by additional ground
magnetics at 25 metre spacing and VLF-R at 50 metre
spacing. Diamond drilling will be undertaken in
November-December.
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 Mawson personnel or
commercial transport from site to the CRS Minlab Oy facility in
Kempele, Finland. Samples were
prepared at Kempele and analyzed for gold at Raahe using the
PAL1000 technique which involves grinding the sample in steel pots
with abrasive media in the presence of cyanide, followed by
measuring the gold in solution with flame AAS equipment. The QA/QC
program of Mawson consists of the systematic insertion of certified
standards of known gold content, and blanks the within interpreted
mineralized rock. In addition, CRS inserts 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.
