Mawson Intersects 19.0 Metres at 2.3 g/t Gold at Palokas, Finland
21 January 2014 - 12:15AM
Marketwired
Mawson Intersects 19.0 Metres at 2.3 g/t Gold at Palokas, Finland
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 20, 2014) -
Mawson Resources Limited ("Mawson") or (the "Company")
(TSX:MAW)(FRANKFURT:MXR)(PINKSHEETS:MWSNF) announces further
intersections of strong gold mineralization from the Palokas gold
project at Rompas in Finland. Key Points:
- Highlighted intersections include:
- 19.0m @ 2.3 g/t gold from 8.0 metres from PRAJ0022; and
- 8.7m @ 4.6 g/t gold from 16.9 metres from PRAJ0025;
- Exploration at Palokas is at a very early stage. Gold
mineralization is covered by shallow glacial till deposits and
remains open in all directions, with many holes stopping in
mineralization;
- Sampling is coincident with a VTEM geophysical conductor that
extends for more than 500 metres through an area with less than 1%
outcrop, and forms part of a 3.5 kilometre target horizon between
basaltic and quartzitic rocks;
- A 26 kilometre induced polarization ("IP") geophysical survey
that tested 5 kilometres of target horizon along strike from the
drill area at Palokas has just been completed;
- Core sampling continues at Palokas and further results are
pending.
Mr Hudson, the Company's President & CEO, states, "The
high degree of continuity of gold mineralization at Palokas is
further emphasized by these new shallow core sample results.
Mineralization continues from surface and all mineralized sections
remain open down dip. We look forward to extending core sampling
along strike from the area already tested, with more than 3.5
kilometres of strike potential defined by anomalous gold surface
samples and geophysical responses."
A plan view of the core sampling, a complete series of cross
sections and a longitudinal section are shown in Figures 1-10,
while Tables 1 and 2 show full collar and summary assay
information. Better results returned from holes PRAJ0010 to
PRAJ0024 are shown below:
HOLEID |
Summary Result |
Comment |
PRAJ0022 |
19.0m @ 2.3 g/t gold from 8 metres |
|
PRAJ0025 |
8.7m @ 4.6 g/t gold from 16.9 metres |
|
PRAJ0023 |
9.9m @ 2.2 g/t gold from 18.6 metres |
Stopped in mineralization |
PRAJ0024 |
7.9m @ 2.7 g/t gold from 28.1 metres |
Stopped in mineralization |
PRAJ0020 |
3.0m @ 4.2 g/t gold from 5.2 metres |
|
Twenty-four core sample holes have been completed to date along
a strike length of 150 metres, and a further five core holes are
planned to test an additional 50 metres of the strike potential at
Palokas. Finely disseminated gold mineralization occurs within
magnesian chlorite-biotite-tourmaline-pyrrhotite rich rocks between
mafic rocks and relatively oxidized quartzites. The true thickness
of the mineralized interval is interpreted to be approximately 80%
of the sampled thickness.
These new results follow on from the previous core sampling
result at Palokas (PRAJ0003-PRAJ0009), reported in Mawson Press
Releases October 3, 2013 and October 16, 2013.
Additionally, the 26 kilometre gradient array IP and 480 metres
of pole-dipole IP geophysical surveys have just been completed.
These surveys tested approximately a 5 kilometre trend to the north
and south of the Palokas drill area. Ground magnetic measurements
remain ongoing at Palokas. These results will be made available
shortly.
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 Scandinavian
exploration company with a focus on the flagship Rompas gold
project in Finland.
Technical Background
The core sampling was undertaken by Mawson Staff who provided EW
(25.2 mm) diameter core. Core recoveries were excellent and average
close to 100% in fresh rock. After photographing and logging, core
intervals averaging 1 metre in length were cut in half at the
Geological Survey of Finland (GTK) core facilities in Rovaniemi,
Finland. These half-core one metre samples weigh less than 0.7
kilograms. The remaining half core is retained on site for
verification and reference purposes. Analytical samples were
transported by Mawson or GTK personnel from GTK to the Labtium Oy
("Labtium") laboratory in Rovaniemi, Finland where they were
prepared and analyzed for Au by 705P techniques and multi-element
analysis by XRF technique (pellet), method +175X. 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, Labtium inserts a number of blanks and
standards into the analytical process. The qualified person for
Mawson's Finnish projects, Mr Michael Hudson, President & CEO
for Mawson and Fellow of the Australasian Institute of Mining
Metallurgy has reviewed and verified the contents of this
release.
On behalf of the Board,
Michael Hudson, President & CEO
Forward Looking Statement
This press 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,
including statements regarding the planned drill program and
anticipated exploration results, 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, equipment failure, unexpected
geological conditions, operational delays, 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.
Table 1: Collar Information from the hand portable low
impact core sampler from the Palokas Prospect |
HoleID |
UTME |
UTMN |
Azimuth |
Dip |
Overburden Depth (m) |
Depth (m) |
Date Reported |
PRAJ0003 |
3408688 |
7373822 |
118 |
60 |
0.0 |
20.19 |
03 Oct 2013 |
PRAJ0004 |
3408681 |
7373826 |
116 |
60 |
0.8 |
19.63 |
16 Oct 2013 |
PRAJ0005 |
3408673 |
7373830 |
116 |
60 |
4.2 |
19.26 |
16 Oct 2013 |
PRAJ0006 |
3408686 |
7373839 |
116 |
60 |
1.3 |
29.04 |
16 Oct 2013 |
PRAJ0007 |
3408705 |
7373831 |
116 |
60 |
5.0 |
5.0 |
16 Oct 2013 |
PRAJ0008 |
3408696 |
7373836 |
116 |
60 |
0.3 |
13.3 |
16 Oct 2013 |
PRAJ0009 |
3408692 |
7373859 |
116 |
60 |
2.5 |
34.95 |
16 Oct 2013 |
PRAJ0010 |
3408711 |
7373854 |
116 |
60 |
0.3 |
13.02 |
Here |
PRAJ0011 |
3408753 |
7373879 |
140 |
60 |
4.5 |
4.5 |
Here |
PRAJ0012 |
3408730 |
7373906 |
140 |
60 |
0.0 |
3.36 |
Here |
PRAJ0013 |
3408736 |
7373898 |
140 |
60 |
3.0 |
7.8 |
Here |
PRAJ0014 |
3408743 |
7373889 |
140 |
60 |
1.0 |
7.8 |
Here |
PRAJ0015 |
3408729 |
7373862 |
140 |
60 |
1.0 |
12.7 |
Here |
PRAJ0015 |
3408729 |
7373862 |
140 |
60 |
|
12.7 |
Here |
PRAJ0016 |
3408686 |
7373802 |
116 |
60 |
|
28.4 |
Here |
PRAJ0017 |
3408686 |
7373776 |
116 |
60 |
|
23.0 |
Here |
PRAJ0018 |
3408677 |
7373765 |
116 |
60 |
|
20.75 |
Here |
PRAJ0019 |
3408666 |
7373787 |
116 |
60 |
|
4.5 |
Here |
PRAJ0020 |
3408669 |
7373808 |
116 |
60 |
|
31.2 |
Here |
PRAJ0021 |
3408695 |
7373819 |
116 |
60 |
|
19.94 |
Here |
PRAJ0022 |
3408677 |
7373842 |
116 |
60 |
|
37.5 |
Here |
PRAJ0023 |
3408682 |
7373863 |
116 |
76.5 |
|
28.52 |
Here |
PRAJ0024 |
3408673 |
7373868 |
116 |
76.5 |
|
37.02 |
Here |
PRAJ0025 |
3408697 |
7373878 |
116 |
76.5 |
|
40.25 |
Here |
PRAJ0026 |
3408693 |
7373856 |
116 |
76.5 |
|
30.0 |
TBA |
Table 2: Assay data from the hand portable low impact core
sampler from the Palokas Prospect - new results from core sample
holes PRAJ0010-PRAJ0025. Holes PRAJ0007 and PRAJ0019 failed to
intersect bedrock. Holes PRAJ0015-17 contained no significant
assays, holes PRAJ0011-14 were short holes less than 8 metres depth
and contained no significant assays. A lower cut of 0.5 g/t over 2
metres was applied.
Hole ID |
From (m) |
To (m) |
Width (m) |
Au g/t |
Comment |
Reported |
PRAJ0003 |
0 |
9 |
9.0 |
10.2 |
|
3
Oct 2013 |
PRAJ0003 |
12 |
13 |
1.0 |
0.6 |
|
3
Oct 2013 |
PRAJ0004 |
2 |
10.25 |
8.3 |
5.9 |
|
16 Oct 2013 |
PRAJ0005 |
6.65 |
19.22 |
12.6 |
3.6 |
Stopped in mineralization |
16 Oct 2013 |
PRAJ0006 |
1.3 |
20.8 |
19.5 |
7.6 |
|
16 Oct 2013 |
PRAJ0008 |
0.3 |
8 |
7.7 |
1.4 |
|
16 Oct 2013 |
PRAJ0009 |
2.5 |
7.9 |
5.4 |
37.6 |
|
16 Oct 2013 |
PRAJ0009 |
13.9 |
14.7 |
0.8 |
0.6 |
|
16 Oct 2013 |
PRAJ0009 |
22.7 |
23.7 |
1.0 |
2.6 |
|
16 Oct 2013 |
PRAJ0009 |
25.4 |
28.25 |
2.9 |
2.3 |
|
16 Oct 2013 |
PRAJ0009 |
30.25 |
31.25 |
1.0 |
0.6 |
|
16 Oct 2013 |
PRAJ0009 |
32.25 |
33.25 |
1.0 |
0.7 |
|
16 Oct 2013 |
PRAJ0010 |
3.3 |
6.3 |
3.0 |
1.4 |
|
Here |
PRAJ0018 |
4.4 |
5.4 |
1.0 |
1.6 |
|
Here |
PRAJ0018 |
14.75 |
15.75 |
1.0 |
0.5 |
|
Here |
PRAJ0020 |
5.2 |
8.2 |
3.0 |
4.2 |
|
Here |
PRAJ0020 |
11.2 |
13.2 |
2.0 |
4.4 |
|
Here |
PRAJ0020 |
22 |
24 |
2.0 |
2.2 |
|
Here |
PRAJ0020 |
26 |
27 |
1.0 |
0.9 |
|
Here |
PRAJ0021 |
2.7 |
4.7 |
2.0 |
1.1 |
|
Here |
PRAJ0022 |
8 |
27 |
19.0 |
2.3 |
|
Here |
PRAJ0022 |
32.6 |
33.6 |
1.0 |
1.9 |
|
Here |
PRAJ0023 |
11.16 |
14.4 |
3.2 |
1.0 |
|
Here |
PRAJ0023 |
18.62 |
28.52 |
9.9 |
2.2 |
Stopped in mineralization |
Here |
PRAJ0024 |
22.65 |
26.8 |
4.2 |
0.6 |
|
Here |
PRAJ0024 |
28.05 |
35.95 |
7.9 |
2.7 |
Stopped in mineralization |
Here |
PRAJ0025 |
16.9 |
25.6 |
8.7 |
4.6 |
|
Here |
To view Figure 1 please visit the following link:
http://media3.marketwire.com/docs/922882fig1.pdf
To view Figure 2 please visit the following link:
http://media3.marketwire.com/docs/922882fig2.pdf
To view Figure 3 please visit the following link:
http://media3.marketwire.com/docs/922882fig3.pdf
To view Figure 4 please visit the following link:
http://media3.marketwire.com/docs/922882fig4.pdf
To view Figure 5 please visit the following link:
http://media3.marketwire.com/docs/922882fig5.pdf
To view Figure 6 please visit the following link:
http://media3.marketwire.com/docs/922882fig6.pdf
To view Figure 7 please visit the following link:
http://media3.marketwire.com/docs/922882fig7.pdf
To view Figure 8 please visit the following link:
http://media3.marketwire.com/docs/922882fig8.pdf
To view Figure 9 please visit the following link:
http://media3.marketwire.com/docs/922882fig9.pdf
To view Figure 10 please visit the following link:
http://media3.marketwire.com/docs/922882fig10.pdf
Mawson Resources LimitedMariana BermudezInvestor Information+1
(604) 685 9316+1 (604) 683 1585Mawson Resources LimitedDonna
WerbesInvestor Information+1 (604) 685 9316+1 (604) 683 1585Mawson
Resources LimitedSeema SindwaniInvestor Information+1 (647) 478
3017info@mawsonresources.comwww.mawsonresources.com
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