VANCOUVER, Oct. 25, 2016 /CNW/ - Mawson Resources
Limited ("Mawson") or (the "Company") (TSX:MAW)
(Frankfurt:MXR) (PINKSHEETS: MWSNF) announces results from 225
base-of-till ("BOT") drill holes from the Rajapalot prospect at the
100% owned Rompas-Rajapalot project in Northern Finland. The drill area was located
1.5 to 3.0 kilometres east of the Palokas prospect (Figure 1) where
earlier diamond drill results include 5.4m @ 37.6g/t Au from 2.5 m
and 19.3m @ 7.4g/t Au from 1.3m (true thickness of mineralized
intervals is interpreted to be approximately 90% of the sampled
thickness).
Key Points:
- Base-of-till ("BOT") drilling at the Rajapalot prospect has
defined eight gold target areas for follow-up. A total of 225 BOT
holes were drilled over an area of 2.3 km by 1.4 km on a 150m grid
pattern;
- Follow-up infill BOT drilling on six of these target areas has
already commenced with an additional 206 drill holes planned at 25m
centres along anomalous drill traverses defined from the first
program;
- Untested surface targets interpreted to be the extension of
mineralization at Palokas were the focus for the BOT grid program.
Anomalous surface geochemistry in the area included 23 boulders and
subcrop grab samples >0.1 g/t gold that ranged from 0.1 g/t gold
to 236 g/t gold with an average of 22.6 g/t gold and median of 1.0
g/t gold. Grab samples are selected samples and are not necessarily
representative of the mineralization hosted on the property.
Mr Hudson, Chairman & CEO states, "This first systematic
drill test of the area met our aims to define geochemically
anomalous areas beneath thin glacial till, that covers 99% of the
area, with eight anomalous zones defined over a large area of 2.3
km by 1.4 km. We have already commenced follow-up infill BOT
drilling and are looking to progress to deeper diamond drilling for
target testing. As the drill area lies outside Natura 2000 areas,
drilling can be undertaken all year, rather than be limited to
winter drilling from mid-December to mid-April."
Areas of geochemical anomalism for follow-up were based on
multi-element Au, Te, Cu and Bi results, and normalized to sample
type (weathered bedrock and till varieties) as well as geological
observations, including the presence of hydrothermal alteration
minerals. Till depth varied between 0.55 and 13.3 metres. Four
different sample types were described from the drilling data:
glacial till (20% of all total samples), weathered bedrock (55%),
diamict or reworked till (20%) and reworked and transported sand
(5%). Drill chip assays ranged from below detection up to 0.183 g/t
gold. Drilling took place over an area of 2.6 km x 1.8 km on
Mawson's recently granted exploration permit at Hirvimaa and within
an area covered by a landholder permit.
Technical Background
The qualified person for Mawson's Finnish projects, Mr
Michael Hudson, Chairman and CEO for
Mawson and Fellow of the Australasian Institute of Mining
Metallurgy has reviewed and verified the contents of this
release.
Samples were transported by Mawson personnel from site to
Rovaniemi for logging and then submitted via commercial transport
to ALS Chemex Ltd's laboratory in Sodankyla, Finland where the samples were prepared and
sent to ALS Chemex Ltd's laboratory in Galway, Ireland to be analyzed by ICP-21 method (Au)
and MS41 method (remaining elements). The QA/QC program of Mawson
consists of the systematic insertion of duplicates and certified
standards of known gold content. 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
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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: aim, 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, timing and the successful completion
of the Company's proposed drill programs, 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.