VANCOUVER, Oct. 4, 2018 /PRNewswire/ - Mawson
Resources Limited ("Mawson") or (the "Company") (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) is pleased to announce
the start of the Company's Q4 diamond drilling program at the 100%
owned Rompas-Rajapalot gold-cobalt project in Finland.
Key Points:
- The diamond drill program consists of 2,500 metres;
- Two prospects are to be tested at Rajapalot: Korkiakoivikko and
Hirvimaa (Figure 1);
- Targets were defined by areas of anomalous geochemistry in
base-of-till ("BOT") drilling and a combination of magnetic,
induced polarization ("IP") and electromagnetic anomalies under
thin glacial till cover;
- The target areas have year-round drill access and lie
approximately 1 to 3 kilometres northeast and south of the Raja and
Palokas prospects;
- Geophysical programs continue at Rajapalot.
Mr. Michael Hudson, CEO, states:
"We are excited to have our Q4 drill program underway, after a
drill hiatus to compile data from our recent and successful 16
kilometre winter drill program. Multi-element BOT geochemical
anomalies associated with the multi-parameter geophysical anomalies
provide compelling drill targets for this program. The
Korkiakoivikko and Hirvimaa areas are permitted for year-round
drill access. We anticipate further drilling will be
undertaken during our winter drill campaign planned from late
December onwards."
The 2,500 metre drill program aims to test two prospect areas
(Figure 1) with significant geochemical and geophysical anomalism
interpreted to lie within the stratigraphic host sequence that
includes the Raja and Palokas Au-Co prospects where NI43-101
compliant resource calculations have commenced.
New gradient array IP/resistivity data has been utilized to
target drill holes, in combination with modelled VTEMplus
anomalies and BOT geochemical results. Multi-point anomalies
in the BOT data provide a strong indication of bedrock
mineralization under the shallow till cover (averaging <5 metres
thickness). Complex IP responses that include "negative IP
effects" combined with VTEMplus electromagnetic conductors
support drill targeting for this program. Coincident reverse
magnetic polarity, conductive and IP anomalism have been previously
used to successfully locate gold mineralization. Up to two
holes will test a strong VTEMplus electromagnetic conductor
associated with a nearby IP response and two gold-bearing boulders
(assaying 8.7 and 8.8 g/t gold) at Korkiakoivikko. The
Hirvimaa prospect will be tested with up to 10 holes.
In other news, geophysical programs are ongoing at the Hirvimaa,
Raja, Rumajärvi and Palokas prospect areas that include downhole
electromagnetics ("EM"), fixed-loop EM, mise-a-la-masse and induced
polarization methods. These geophysical surveys are designed to
discover new mineralized bodies and the extensions to known
gold.
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.
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-Rajapalot
gold cobalt project in Finland. MK
Core Drilling of Ranua, Finland
will be conducting the diamond drilling producing oriented NQ
diameter (46.7 mm) core.
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.
