VANCOUVER, April 26, 2018 /PRNewswire/ - Mawson
Resources Limited ("Mawson") or (the "Company") (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) announces the commencement
of an induced polarization ("IP") geophysical survey within the
Kairamaat 2/3 permit area, at the company's 100% owned Rajapalot
gold project in northern Finland.
Key Points:
- Given the success of the winter diamond drilling program at
Rajapalot, which identified gold mineralization beyond the limits
of geophysical data, a geophysical crew has been mobilized to
extend IP coverage of the area;
- Due to the association of sulphide minerals with gold
mineralization at Rajapalot, IP is a valuable mapping tool
especially when used in combination with ground magnetics and
airborne electromagnetics. IP provides the potential to directly
identify gold-bearing host rocks under the thin glacial soil that
covers 99% of the prospect area;
- A total of 29-line kilometres of gradient array IP and
resistivity data will be collected along lines spaced at 50 metres
in the southern part of the Kairamaat 2/3 permit area;
- The winter diamond drill program has now ended with a total of
16,204 metres completed in 75 drill holes across four exploration
permit areas. Diamond drilling is planned to restart during the
2018 summer at Hirvimaa, Männistö and Raja exploration permit
areas.
Mr. Hudson, Chairman and CEO, states, "At Rajapalot we have
demonstrated that the gold-bearing rocks coincide with predictable
electrical and magnetic geophysical responses, allowing direct
targeting beneath thin glacial soil that covers 99% of the prospect
area. This new ground electrical survey in the Kairamaat 2/3
exploration permit will allow for identification of drill targets
beyond the limits of geophysical coverage for testing in upcoming
drill programs."
Gradient array IP geophysical surveys can be used to accurately
identify both disseminated sulphide minerals (where the surface
area of sulphides may produce a chargeable electrical response) and
electrically conductive features. Mawson's experience at the
Rajapalot project indicates that gold mineralized rocks contain
enough sulphide minerals to form both chargeable and conductive
responses.
In other news, the winter diamond drill program has now ended
with the commencement of the spring melt. A total of 16,204 metres
for 75 drill holes was completed across four exploration permit
areas (Männistö, Kairamaat 2/3, Hirvimaa and Raja). Reporting of
assays from 14 holes have been made and results will continue over
the coming months as they become available. Drilling is scheduled
to restart during the 2018 summer at Hirvimaa, Männistö and Raja
exploration permit areas.
Technical and Environmental Background
The
IP-resistivity survey is being conducted by two personnel from
GeoVista AB (based in Luleå, Sweden). Line orientations for this program
are matched with prior survey parameters. Post-collection
processing and inversions of the data will be undertaken by Dr
Hans Thunehed of GeoVista AB.
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.
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.
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SOURCE Mawson Resources Ltd.
